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New Indicator: Buy the Dip

Check out our Buy the Dip indicator and see how it can help you find profitable swing trading ideas. Scanner, watchlist columns, and add-ons are included.

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MasterSteve

Well-known member
VIP
Steve your hit rate is great, I backchecked till Jan4, 21. What criteria are you using? This is really excellent! Les
Look back at the first post of this series and I show you how to set up this scan. I'm glad to hear you're finding results with it!
 

tjlizwelicha

Active member
VIP
i just wish we had a sense of which direction its gonna run
Yeah I know. One bad trade could eat up the profit from the others. I am sure they will come up with a way to determine the direction. My problem is using Robin Hood. I have to purchase and then go back in to place a stop loss. I signed up with E Trade which has the trailing stop loss and much easier, but there is a commission fee.
 

rad14733

Moderator
Staff member
VIP
Yeah I know. One bad trade could eat up the profit from the others. I am sure they will come up with a way to determine the direction. My problem is using Robin Hood. I have to purchase and then go back in to place a stop loss. I signed up with E Trade which has the trailing stop loss and much easier, but there is a commission fee.

Think about this... That small commission fee is far cheaper in the long run than losses incurred by not having the convenience of preset stoplosses... We have to pick our battles wisely...

In the past few months alone I've had three significant losses due to placing orders without preset stoploss and limit orders in place only to have a customer call and distract me before I could manually put limits in place... Those losses were enough to confirm that I either need to insure that I have the presets in place in Active Trader before placing a trade or not answering the phone until I have limits in place... Calling a customer back or losing a service call is far cheaper than exposing myself to potentially large losses...
 

MasterSteve

Well-known member
VIP
Yeah I know. One bad trade could eat up the profit from the others. I am sure they will come up with a way to determine the direction. My problem is using Robin Hood. I have to purchase and then go back in to place a stop loss. I signed up with E Trade which has the trailing stop loss and much easier, but there is a commission fee.
There are plenty of better brokerages to use with either no or very low commission fees. I like using tastyworks and they actually have customer support :)
 

Volatility Trading Range

VTR is a momentum indicator that shows if a stock is overbought or oversold based on its Weekly and Monthly average volatility trading range.

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