Re:
by 4w3 on Tuesday July 18, 2023 @01:42AM
(#36768286)
Neat project with a nice minimal aesthetic and fast performance. Thanks for sharing.
But the repo does not seem to have the shell scripts.[1] What is the statistical definition of a strong stock?
And which chapter or part of the book specifically inspired you? At first glance, it seemed like a long winded personal memoir of trading and would rather just read the essential parts.
>Neat project with a nice minimal aesthetic and fast performance. Thanks for sharing.
Thanks!
>But the repo does not seem to have the shell scripts.
I will put up the code after this "Show HN". Actually, I do not know which license to use. Or what the implication in the future.
>What is the statistical definition of a strong stock?
The statistical definition of strong stock is percentage of rate of change of the stock closing price.
> And which chapter or part of the book specifically inspired you?
Chapter 4: "Developing the Box Theory". Mr Darvas finally found a trading method that work and made him money. A lot of traders were not able to reach this stage.
Re:
by d--b on Tuesday July 18, 2023 @02:59AM
(#36768831)
Could you summarize the idea behind this?
My feeling is that charting rising stocks will give you a bias in thinking the stock will continue to rise. Even worse, it'll make you feel that the whole stock market is going up, when it could be crashing massively.
I doubt that whatever strategy you derive from this is going to outperform the index.
I'd be careful not to be tempted by the "get rich fast" scheme here.
The concept is momentum trading or trending following strategy. It was very popular in the 70s and 80s. Richard Dennis, the prince of pit, his famous turtle trading methodology is also one of them. And many market wizards, like Ed Seykota and others, during that period also employed this concept.
Trending following strategy will work, but for a while. There is a season for it.
My idea behind weeklycharts.org is not to "get rich fast". It is to know the market. And to know who is trending now?
For example, I know that "Coinbase" and "Tesla" are trending now. Or Semiconductor, software and auto market is trending now. And it up to you to do your next step. Check it up, use fundamental strategy, or Darvas' box theory, or Richard Dennis' turtle strategy or any counter-trend strategy.
But the repo does not seem to have the shell scripts.[1] What is the statistical definition of a strong stock?
And which chapter or part of the book specifically inspired you? At first glance, it seemed like a long winded personal memoir of trading and would rather just read the essential parts.
[1] https://github.com/weeklycharts/charts
Thanks!
>But the repo does not seem to have the shell scripts.
I will put up the code after this "Show HN". Actually, I do not know which license to use. Or what the implication in the future.
>What is the statistical definition of a strong stock?
The statistical definition of strong stock is percentage of rate of change of the stock closing price.
> And which chapter or part of the book specifically inspired you?
Chapter 4: "Developing the Box Theory". Mr Darvas finally found a trading method that work and made him money. A lot of traders were not able to reach this stage.
> Actually, I do not know which license to use. Or what the implication in the future.
GPL should be fine. You can always change the license for later versions.
I will email you to explore how I can provide some support beyond paypal.
The license will be GPL then. Thanks!
> How do you overcome subjectivity in identifying the box?
Risk management.
> Do you interpret price action differently based on environmental factors?
No.
> Is there a risk of identifying a false breakout of the box?
Yes. That where risk management come to rescue.
My feeling is that charting rising stocks will give you a bias in thinking the stock will continue to rise. Even worse, it'll make you feel that the whole stock market is going up, when it could be crashing massively.
I doubt that whatever strategy you derive from this is going to outperform the index.
I'd be careful not to be tempted by the "get rich fast" scheme here.
The concept is momentum trading or trending following strategy. It was very popular in the 70s and 80s. Richard Dennis, the prince of pit, his famous turtle trading methodology is also one of them. And many market wizards, like Ed Seykota and others, during that period also employed this concept.
Trending following strategy will work, but for a while. There is a season for it.
My idea behind weeklycharts.org is not to "get rich fast". It is to know the market. And to know who is trending now?
For example, I know that "Coinbase" and "Tesla" are trending now. Or Semiconductor, software and auto market is trending now. And it up to you to do your next step. Check it up, use fundamental strategy, or Darvas' box theory, or Richard Dennis' turtle strategy or any counter-trend strategy.