Pre-Sales VIP Questions

L

Learnbot

Active member
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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Hey Ben!
Im trying to create the BTD Scanner and understand for the 1 minute time frame. How many bars within should i put?

For Example: 4 hour chart is 2 bars within for two bars in 1 day
 
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dmillz said:
are you using it on the daily chart? you kinda sound like you dont know what your doing
Click to expand...
Yeah, all people that have 173.4% return over a six month period must have no idea what they're doing in the stock market. You must be trouncing my returns since you know what you're doing. Just because a particular strategy doesn't work for one person's trading doesn't mean they don't know what they're doing trading. Yes, I've used it on daily charts which was stated in the origin of the post. Whenever I try it, it mostly picks stocks that are already in a downtrend, that had a small bump up then dipped again. That's why I don't use it for live trades because it doesn't work for me, any of the simulated trades I've done with it have lost. I'm looking at using it as a shorting strategy based off the results I get from it. I've tried it in quite a few different time frames, variety of stocks, even the entirety of the market. I've tried it on stocks with a strong uptrend, such as stocks I'm already in, but it doesn't have any buy signals on those. That's why I don't use it for long positions and started looking at it for potential shorting and recommend people try to get on board with somebody that is having success with it for long positions. I entered Dominion Energy at 70.00, today it is at 74.24 as of this writing, but that isn't from BTD, that's from my own strategy, you know, the one that doesn't know what it's doing.
 
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kookie said:
Hello, is it good to use BTD as confirmation daytrading large caps on shorter timeframes? Like 2 min and 5 min? The BTD percentile looks very interesting as well
Click to expand...
I recommend simulated trading until you find how and if works for you. For some it works very well, others not so well. I'm looking at using it for a short positions because that's what it seems to return for me, but others swear by it for long positions. I would do three months of paper trading before going live, but I recommend that for any strategy. This way you see how it will or won't work increasing the probability of success. You may even find variations for using it within existing strategies that you have.
 
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Ben, Can you show a Buy the DIP Signals or results on SPY or QQQ for 10 -20 years on a Daily chart? I want to understand how robust the strategy is over time?
 
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