PDS has kept subscribers from establishing new long positions from May 11th-May17th.
It has been rather comforting not participating in the angst and hand-wringing that I have been seeing from some nervous longs. The system did select 1 stock for today, Overstock.com, Inc. [[OSTK]] which according to my account is showing a 2.97% profit for the day.
The system has selected 4 stocks for tomorrow. There are some beautiful pullbacks represented, and I am feeling good about buying into these oversold conditions.
I will soon post equity curves for the system since inception as well as answer some reoccurring questions.
As always, the trial is free.
Oh, thank gawd.
Wood,
How long is the trial and would it work for me here in Hawaii as I don’t get up until about 12:00 EST.
Also, how long does the average draw down last and does the system stay out of difficult markets?
I’m just switching from trading mutual funds to stocks and trying to familiarize myself with the e-trade platform and the new terminology, so while I will probably trade some via technical analysis and trend following, at some point I may want to give your system a try also.
Five0, the trail is for 1 day, but since you are a long time iBC’er, I will see if we can get you something longer.
The time differential should work okay for you. What time is it in Hawaii when it is 3:00p.m. EST?
Obviously I’m biased, but I think the PDS is a great introduction to both technical trading and money management.
3pm EST is 9 am here, so I can get to my computer, by 3pm EST for sure.
You would place market on open orders the day before, and then in a perfect world you would check your open positions at 9:30a.m. your time to see if any are meeting their exit thresholds. If they are, you will either place MOC orders or just sit and wait to close them at 10:00a.m. (which would be 4:00p.m. market closing).
I use stops on every trade and implore everyone else to do the same.
Wood,
When exactly did the system place a buy order on ostk and when is the sell date/time?
I know you can manipulate the data and fool me here, but I know you’re not that kind of a person.
The buy signal for OSTK was given on 5/18 to be acted on at the open of 5/19. The sell signal came on 5/21 to close OSTK at the close on 5/21. The sell signals are a little more tricky because you are only selling if the stock is going to close above a pre-defined exit threshold. I was not able to trade the close on 5/21 so I will be closing it Monday a.m, but performance is better when you can trade the close.
All of the bloggers here have access to the buy/sell signals and get all the emails. You can verify the signals with them if you want. I understand the need for “trust, but verify.” Also, I would be happy to send you my own account statements.
In the case of this trade, could I have placed a limit order on 5/18 for the open on 5/19?
But I guess the rub in this case would be my difficulty in trying to close it Monday a.m.
Don’t get me wrong, I really want to try this, but I’m not quite poor enough yet to want to get up at 3 am.
Also, how long can you stay in that 20% or so draw down?
5-0, I like things to be as simple as possible. I never use anything but market orders. Market orders on the open, and Market-on-close orders when possible, and if not possible, I just place a market order at 3:59:30 to close the trade.
What draw down are you speaking of?
Wood,
So are you saying that it would work for me… that I would have time to place market orders near the close for the following day to get either in for the next morning or out at the end of the current day and that I would not have to get up at 3 am Hawaii time?
The draw down I’m speaking of is in the second box of your add which states “Maximum Market draw down = 20.79%,” which I think means the entire port can be down by that much.