Pre-Sales VIP Questions

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Learnbot

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I am not VIP member yet, however, thinking about subscribing to your discord and obtaining the "buy the dip" indicator. I just wanted to check something before I subscribe to VIP, would you be able to post an example of 1min chart for TSLA, Apple, ZM or whatever else stock you see fit (not penny stocks plz since I am not that educated to trade small caps yet). I wanted to see if Buy the Dip works for day trading as well as swing.

Edit: This thread has gotten very long. Added some info below for easier access to information.
Summary:
https://usethinkscript.com/threads/buy-the-dip-vip-indicator-question.3790/page-23#post-89427

Helpful links for anyone interested in seeing how VIP members are using the BTD indicator to trade:
Customer's reviews:
More reviews can be found here: https://usethinkscript.com/threads/buy-the-dip-indicator-for-thinkorswim.3553/post-34186
 
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@FreefallJM03 Scanning the Universe of 63,000 Stocks generally is not a great idea. Compile your corral of strong trending up stocks and THEN apply your favorite strategy to it. There are many threads in this forum on finding stocks that have been on an overall uptrend. I compile mine manually looking at research, fundamentals, analyst outlooks, market data, and a continuous uptrend on the weekly chart.
My stocks were mostly tech and my corral stayed overall constant until September. Now the volatility of many of the Tech stocks makes using technical analysis on them unreliable. Then January's down days knocked many of my tried and true stocks out of contention. There is a lot of flux these days. The research for stocks that are good candidates for a trending strategy is a significant amount of constant work but improves outcomes immeasurably.
 
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MerryDay said:
@FreefallJM03 You are still not getting it. It is not whether you are using a reverse trend or BTD which is causing your losses. The whole point of a trending strategy is that the stock MUST BE TRENDING! It doesn't matter what indicator you use for your scan. You need to verify that it is a stock that is likely to go up.

Here are some type of uptrends:

NMlTk4a.png


I have had a few losses but the BTD has been 99.9999% successful because the stocks themselves were stocks that had a solid history of trending up.

oAjdczm.png
Click to expand...
Hi MarryDay. Thanks for sharing this.
  • Did you use the aggresive or conservative BTD mode to get these results?
  • Please let me know how you tested the performance of the BTD for the above stocks? Thank you very much!
BPositive! Regards
 
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The reason why I am posting here is to say that please learn how to TRADE, indicators don't make you money. If you cannot learn how to trade no indicator in this world will make you a success. If you take long trades on Bullish stocks and short trades on Bearish stocks they may work but the probability is the flip of a coin. LEARN HOW TO TRADE, if you put in about a year of learning then you can surely make it. But buy indicator today and make money tommorrow without good knowledge will not work.
 
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Hello. I am looking to uograde to VIP membership. Can you advise how long after i register will i be able to download the BTD indicator? Is it automatic or will i need to waiting for admin to provide access
 
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@Bpositive
  • I trade strong uptrending stocks. I attribute this as the greatest single factor in developing a successful strategy.
  • I look for the regular BTD indicator on mostly 2hr charts, however, I also watch 1hr, 4hr charts, 1day. The other BTD indicators work as well.
  • After the BTD indicates, I check the news. News drives price more than any other factor. If no bad news, I wait for an uptrend to be confirmed w/ the RSM indicator and/or Stochastic - 21EMA Strategy on 20min chart, however, I also watch 15min and 30min charts.
  • I create an OCO sell order where zscore<0 on 2min after the price is greater than the high that it dipped down from. I attribute this as the greatest factor to increases in my profits. Because I don't watch the stock, I don't 2nd guess myself.
Sometimes, the stock keeps dipping after I buy but if the stock has been up every week since the beginning of the pandemic; chances are that it will go back up so I hold unless it hits my very very low stop-loss (which everyone has to determine on their own depending on how much they want to risk). I have only had one trade hit my stop-loss. And that trade was a trade, I should never have made as it didn't really meet my criteria. This strategy doesn't generate very many trades and I am as guilty as anyone about wanting to trade something-anything, occasionally. I am developing the discipline to not trade the "almost meets criteria" stocks.

I make only a fraction of the trades that I used to. But the few trades I do make, result in profits much greater.
 
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MerryDay said:
@Bpositive
  • I trade strong uptrending stocks. I attribute this as the greatest single factor in developing a successful strategy.
  • I look for the regular BTD indicator on mostly 2hr charts, however, I also watch 1hr, 4hr charts, 1day. The other BTD indicators work as well.
  • After the BTD indicates, I check the news. News drives price more than any other factor. If no bad news, I wait for an uptrend to be confirmed w/ the RSM indicator and/or Stochastic - 21EMA Strategy on 20min chart, however, I also watch 15min and 30min charts.
  • I create an OCO sell order where zscore<0 on 2min after the price is greater than the high that it dipped down from. I attribute this as the greatest factor to increases in my profits. Because I don't watch the stock, I don't 2nd guess myself.
Sometimes, the stock keeps dipping after I buy but if the stock has been up every week since the beginning of the pandemic; chances are that it will go back up so I hold unless it hits my very very low stop-loss (which everyone has to determine on their own depending on how much they want to risk). I have only had one trade hit my stop-loss. And that trade was a trade, I should never have made as it didn't really meet my criteria. This strategy doesn't generate very many trades and I am as guilty as anyone about wanting to trade something-anything, occasionally. I am developing the discipline to not trade the "almost meets criteria" stocks.

I make only a fraction of the trades that I used to. But the few trades I do make, result in profits much greater.
Click to expand...
could you see us a picture of your chart setup?
 
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MerryDay said:
@Bpositive
  • I trade strong uptrending stocks. I attribute this as the greatest single factor in developing a successful strategy.
  • I look for the regular BTD indicator on mostly 2hr charts, however, I also watch 1hr, 4hr charts, 1day. The other BTD indicators work as well.
  • After the BTD indicates, I check the news. News drives price more than any other factor. If no bad news, I wait for an uptrend to be confirmed w/ the RSM indicator and/or Stochastic - 21EMA Strategy on 20min chart, however, I also watch 15min and 30min charts.
  • I create an OCO sell order where zscore<0 on 2min after the price is greater than the high that it dipped down from. I attribute this as the greatest factor to increases in my profits. Because I don't watch the stock, I don't 2nd guess myself.
Sometimes, the stock keeps dipping after I buy but if the stock has been up every week since the beginning of the pandemic; chances are that it will go back up so I hold unless it hits my very very low stop-loss (which everyone has to determine on their own depending on how much they want to risk). I have only had one trade hit my stop-loss. And that trade was a trade, I should never have made as it didn't really meet my criteria. This strategy doesn't generate very many trades and I am as guilty as anyone about wanting to trade something-anything, occasionally. I am developing the discipline to not trade the "almost meets criteria" stocks.

I make only a fraction of the trades that I used to. But the few trades I do make, result in profits much greater.
Click to expand...
Thanks MerryDay..... Very informative!! .Regards.
 
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Sammy800 said:
The reason why I am posting here is to say that please learn how to TRADE, indicators don't make you money. If you cannot learn how to trade no indicator in this world will make you a success. If you take long trades on Bullish stocks and short trades on Bearish stocks they may work but the probability is the flip of a coin. LEARN HOW TO TRADE, if you put in about a year of learning then you can surely make it. But buy indicator today and make money tommorrow without good knowledge will not work.
Click to expand...
If indicators don't work, then why do they have so many different indicators like moving averages, MACD, RSI, etc? If you're trading off fundamentals, then yeah, indicators don't mean squat to you. If you are trading off technicals, then indicators are a pretty important part of your process. Do you trade off a chart without a single indicator? The indicators I use work pretty damn good. My day trades average between 2.5-4% and my swing trades average between 8-14% with some of those hitting the mid 30% range. So, you must be trading solely on fundamentals to not think indicators are important to trading. There's also a difference between trading and investing. Just because a scan returns bad results for your type of trading doesn't mean the actual indicators on a chart are worthless. Just about everything I've seen on here is related to indicators rather than fundamentals.
 
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Hi all,

Would "buy the dip" and "take profit" indicators able to send me alerts to my cellphone to buy and sell stocks? I have a full time job and I can't monitor the charts all the time. Can I set the indicators on multiple charts and would each chart indicators be able to send me alerts?

Thank you.
 
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