Rank: Member
Groups: Registered, Registered Users
Joined: 11/13/2005(UTC)
Posts: 10
Location: New York
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Overall, a pretty good week. The RMO system definately improved my
results and the bottom line. It was a tough week thoug for the markets.
The overall market is certainly overbought and therefore the intraday
moves were, for the most part, very small. So, it was not a hugely
profitable week for me because of that. I am still impressed by its
ability to detect the correct trend and this certainly helped to
prevent me from placing incorrect trades.
The drawback is that you must remain patient and follow the system. Of
course, this is more of a mental issue that anything, but it is clear
that relying on RMO to find trades is an excellent starting point. On
Friday, I shorted the DIA and MMM and held them over the weekend. I was
able to detect the downward bias before it happened and therefore my
trade entries were really good.
So, I am still encouraged and will continue to use the RMO.
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Rank: Advanced Member
Groups: Registered, Registered Users
Joined: 8/3/2005(UTC)
Posts: 40
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Hi Predator, interesting thread. Before trading the system, I am sure you have backtested the system over your chosen constituent group. What tools did you use to backtest ? Do you mind posting your backtesting results ?
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Rank: Member
Groups: Registered, Registered Users
Joined: 6/6/2005(UTC)
Posts: 10
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well, you should watch the RMO video, equis has stated that the system has not been backtested yet but works great wonders,
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Rank: Advanced Member
Groups: Registered, Registered Users
Joined: 12/8/2004(UTC)
Posts: 38
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Predator -
Thanks for your posts on the RMO. Sounds like you are using MS Pro on intraday. Are you primarily a day trader or more of a swing trader? If swing, are you using RMO for signals on EOD or just follow on intraday?
I am primarily a swing trader and have taken what I would call my first RMO trade on EBAY on 10/23/06. Now let me qualify that by saying that I am a discretionary trader and do not rely on any one system to make my trades. Always look for confirmation from multiple indictors and assess state of the broader market at the time of trade before taking a position. EBAY entered my radar on 10/20/06 as I scanned the SP500 for good RMO signals. I used a triple signal buy from the RMO along with other confirming indicators (stoch, candles, pivot support/resistance at time of entry, etc.). Have already scaled back half of my long position at about an 8% gain after the first 5 days. EBAY is currently holding at its 200-day EMA. My entries/exits (based on EOD analysis) are always placed using intraday pivot points. I don't have MS pro so can't monitor RMO on this time scale. This market is ripe for a pullback so I am keeping very tight stops. So far, so good.
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Rank: Member
Groups: Registered, Registered Users
Joined: 6/6/2005(UTC)
Posts: 10
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well, would really appericate if someone experienced with day trading would provide some valuable feedback on the RMO on the intraday charts,
though shortly i would be meeting rahul, maybe i can get some valuable feedback from him, :-)
Thanks
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