OmniTrader Forum - Plug-ins for OmniTrader
RocketTrade Method

^ Top
ZedandMaynard

Posts: 156

Joined: 12/13/2003
Location: Sacramento, Ca

User Profile
 
Subject : RocketTrade Method
Posted : 1/22/2021 9:39 PM
Post #47823

Is the RocketTrade Method differnt/same regarding strategies than those presented in the Power Trading Summit, Harness The Power of Relative Strength (asset files).
^ Top
John W

Posts: 87

Joined: 8/1/2011
Location: Sydney, NSW, Australia

User Profile
 
Subject : RE: RocketTrade Method
Posted : 1/22/2021 9:58 PM
Post #47824 - In reply to #47823

And if it is different is there a special price for those who have already purchased the Power Trading Summit or Harness the Power?
^ Top
Barry Cohen

Posts: 6338

Joined: 1/19/2004

User Profile
 
Subject : RE: RocketTrade Method
Posted : 1/25/2021 10:14 AM
Post #47829 - In reply to #47824

You should get RocketTrade free if you already purchased Harness the Power of Relative Strength. And the install for RocketTrade is Harness the Power of Relative Strength.
^ Top
JEM

Posts: 35

Joined: 1/28/2007
Location: victoria bc

User Profile
 
Subject : RE: RocketTrade Method
Posted : 1/25/2021 10:28 AM
Post #47830 - In reply to #47829

Barry, I have not heard of the 'RocketTrade' method.
Is there a posting for it?
James
^ Top
Barry Cohen

Posts: 6338

Joined: 1/19/2004

User Profile
 
Subject : RE: RocketTrade Method
Posted : 1/25/2021 11:38 AM
Post #47831 - In reply to #47830

You can check it out here...

https://www.nirvanasystems.com/rockettrade/
^ Top
Jim Dean

Posts: 3022

Joined: 9/21/2006
Location: L'ville, GA

User Profile
 
Subject : RE: RocketTrade Method
Posted : 1/25/2021 11:48 AM
Post #47832 - In reply to #47831

I hadn’t heard of it either.
^ Top
Diamondjag

Posts: 270

Joined: 11/25/2006
Location: Brighton, Co.

User Profile
 
Subject : RE: RocketTrade Method
Posted : 1/25/2021 11:50 AM
Post #47833 - In reply to #47832

Heard of it but thought it was part of ATM Elite.
^ Top
wxmonn

Posts: 8

Joined: 12/20/2003
Location: aptos, ca.

User Profile
 
Subject : RE: RocketTrade Method
Posted : 1/25/2021 11:57 AM
Post #47834 - In reply to #47831

Barry,
Does the RocketTrade Method require a PR update to OT21 to be viable??
^ Top
Barry Cohen

Posts: 6338

Joined: 1/19/2004

User Profile
 
Subject : RE: RocketTrade Method
Posted : 1/25/2021 12:11 PM
Post #47835 - In reply to #47834

No it does not. There will be an update to Harness Relative Strength soon, but a PR update probably will not be required for it.
^ Top
algo01

Posts: 32

Joined: 11/15/2014

User Profile
 
Subject : RE: RocketTrade Method
Posted : 2/6/2021 7:04 AM
Post #47860 - In reply to #47835

Hello Barry,
I purchased RocketTrader but was unable to attend the seminar.
Can we download them or watch them afterwards?
In the focus list Ed has a column that shows the best candidates for the rocket to the right of the symbol.
Where can you find this column indicator?

Attached file : rockettrade focus list.png (138KB - 287 downloads)

^ Top
Buffalo Bill

Posts: 539

Joined: 10/3/2006
Location: Stafford, VA

User Profile
 
Subject : RE: RocketTrade Method
Posted : 2/6/2021 7:40 AM
Post #47861 - In reply to #47829

Originally written by 291234 on 1/25/2021 11:14 AM

You should get RocketTrade free if you already purchased Harness the Power of Relative Strength. And the install for RocketTrade is Harness the Power of Relative Strength.


Barry - you sure? I had to pay for RT and I had power of RS
^ Top
Diamondjag

Posts: 270

Joined: 11/25/2006
Location: Brighton, Co.

User Profile
 
Subject : RE: RocketTrade Method
Posted : 2/6/2021 10:54 AM
Post #47862 - In reply to #47860

You should be able to go to your Nirvana Dashboard. It's almost impossible to find from their web site, hopefully this link will do it for you. You have to log in with your email address. If you purchased Rocket Trade you will find it there and can click on it and all the videos and pdf's are there for your viewing.

https://store.nirvanasystems.com/pages/dashboard
^ Top
jpb

Posts: 168

Joined: 5/11/2005
Location: Brown Deer, WI

User Profile
 
Subject : RE: RocketTrade Method
Posted : 2/6/2021 12:16 PM
Post #47863 - In reply to #47860

algo01

Can we download them or watch them afterwards?


Yup, just go to https://store.nirvanasystems.com, login, go to your dashboard, select RocketTrade and then click the Course Info/Videos "tab". All the presentation slides and video are there for your viewing pleasure.

Where can you find this column indicator?


Are your referring to the "Good Opportunity" column? As Ed was prospecting, he would click the checkbox in that column (header "G") in the Focus List. To then view all the symbols that you have flagged as "Good Opportunity", use the list drop down at the top of the Focus List and select "Flagged Symbols".
^ Top
tradermike

Posts: 116

Joined: 12/21/2004
Location: Folsom

User Profile
 
Subject : RE: RocketTrade Method
Posted : 2/6/2021 10:30 PM
Post #47865 - In reply to #47823

Howdy all...

Beyond accessing assets and purchasing related questions... I am still curious about the "guts"?

What is the relationship between HRS and RocketTrade? Are they the same or different? If different, in what ways??? Which assets should I use? etc, etc

Thanks in advance,
--tradermike
^ Top
jpb

Posts: 168

Joined: 5/11/2005
Location: Brown Deer, WI

User Profile
 
Subject : RE: RocketTrade Method
Posted : 2/7/2021 9:13 AM
Post #47867 - In reply to #47865

tradermike,

When you acquire RocketTrade, the download is HRS. This download is the same as what you'd download today if you just went to HRS and downloaded it, but it is different than when HRS was originally released. So, I believe they changed the asset you download as HRS.

RocketTrade is really an educational set of content on how Ed's been trading HRS since October live against several accounts and producing huge results.

So, in the course, you see how Ed prospects, how he manages the positions, and how he manages risk to produce the results he has. It is a great set of discussion and the 3rd session on Risk includes a discussion of using UVXY as a hedge. That discussion includes both Ed's and LB Newby's real world use of it.

Now, as for differences between the original HRS package and what I'll call the new HRS package, there are a number:

- Ed abandoned a few of the OmniScan lists while adding several new lists. A few of the new lists have the same name as the original set of lists. One major change Ed did was to add Cap Size to the lists and filter based on that. He uses different lists for different types of prospecting.

- In the original HRS, there is an Adaptive stop (located in the Stops directory under VBA). Ed revised this stop. This stop was used in all 4 strategies of the original HRS package. So, if you update the HRS package to the new version, you will suddenly get a different Adaptive stop set of logic with HRS Breakout, HRS PullBack, and HRS Reversal.

- The final change I've seen is that the 4th strategy HRS Trend has changed -- particularly in the TradePlan. It used to have the Adaptive stop in it. That has been replaced and no longer uses the Adaptive stop.

For me personally, I found the RocketTrade material to be beneficial on how Ed used the tools to produce impressive results and the hedge discussion between Ed and LB. However, I prefer to create mechanical trading systems and use ATM and AT to run the systems -- removing all emotion. So, for my ATM method, I actually like the original Adaptive stop better than the new version (so, I created a copy before installing the new HRS package called Adaptive 1. I also made a copy of all the strategies and renamed all the OmniScans before installing the new HRS package so I had a complete system that I could compare lists, strategies, and stops against -- adopting improvements and not breaking what I've tested to date.

^ Top
algo01

Posts: 32

Joined: 11/15/2014

User Profile
 
Subject : RE: RocketTrade Method
Posted : 2/9/2021 6:01 AM
Post #47880 - In reply to #47863

thank you for your reply
But it is not the good opporunitie column but the column to the right of the symbol where there is 16.22 14.10 13.75 etc.
Attached file : rockettrade 1.png (78KB - 262 downloads)

^ Top
jpb

Posts: 168

Joined: 5/11/2005
Location: Brown Deer, WI

User Profile
 
Subject : RE: RocketTrade Method
Posted : 2/9/2021 7:32 AM
Post #47882 - In reply to #47880

Great question. The SortVal is a column that is displayed when you are in the OmniScan Data Source panel (the one where you define/select the OmniScan list). I haven't seen it in the Focus List configuration for column options to add.

That's probably going to be a question for the Nirvana team if it is available to add (or what its name is in those fields available).
^ Top
Barry Cohen

Posts: 6338

Joined: 1/19/2004

User Profile
 
Subject : RE: RocketTrade Method
Posted : 2/9/2021 9:05 AM
Post #47883 - In reply to #47882

You're absolutely correct, Jeff! The Sort Value column is displayed only while in OmniScan when using a scan Sort Value. Of course one could add an indicator column using the same formula used for the Sort Value.
^ Top
algo01

Posts: 32

Joined: 11/15/2014

User Profile
 
Subject : RE: RocketTrade Method
Posted : 2/9/2021 10:32 AM
Post #47885 - In reply to #47882

Ok thank you for the answer.
Is this column important for choosing the best stocks?
^ Top
jpb

Posts: 168

Joined: 5/11/2005
Location: Brown Deer, WI

User Profile
 
Subject : RE: RocketTrade Method
Posted : 2/9/2021 10:45 AM
Post #47886 - In reply to #47885

In my opinion, probably not of any relevant trading value. It is used to generate a list and select the x number of symbols for a list based on what you sort for. I don't believe it provides any advantage over which symbol to trade. But if that sort formula has meaning to you, then maybe it have value to you.

When you watched Ed prospect, he actually sorted by the signal column and the bars. And then he looked at the charts for patterns and indicator values, levels, and direction.

If you are looking for a mechanical system, there are other tools to incorporate like ATM and AutoTrade. ATM gives you the ability to slice and dice the market into different personalities and apply different ranking, filtering, and allocation methods given the market personality. That's personally how I trade with the HRS strategies. I'm not much of a prospector.
^ Top
tradermike

Posts: 116

Joined: 12/21/2004
Location: Folsom

User Profile
 
Subject : RE: RocketTrade Method
Posted : 2/9/2021 10:10 PM
Post #47894 - In reply to #47823

Wow... I have been absent from the forums for years, post one question, and am instantly reminded of just how great this community is!

jpb ... thank you for your extensive reply - very much appreciated.

And thank you everyone else for your ongoing dialog

--tradermike
^ Top
bjmtigers

Posts: 25

Joined: 1/6/2004
Location: Tampa,FL

User Profile
 
Subject : RE: RocketTrade Method
Posted : 3/24/2021 2:28 PM
Post #47989 - In reply to #47823

Barry C,
I've been watching Ed's Rocket Trade tutorials and have the following observations:
If the Period type is Heikinashi-Daily you will get different signals then "Daily". Generally they are close, but in a number of cases the HA-Daily will give a totally different signal then Daily.
Some of the signals on my OT2021 did not match Ed's even though the profile and scans were the same as his.

How is the Period Type (HA-Daily or Daily) connected to the strategy and signal generation?

Thanks
Barry M.
^ Top
Barry Cohen

Posts: 6338

Joined: 1/19/2004

User Profile
 
Subject : RE: RocketTrade Method
Posted : 3/25/2021 9:26 AM
Post #47991 - In reply to #47989

Signals are basically calculated off the data in the chart. The open, high, low, & close prices in a daily chart are different from a heikin-ashi daily chart, so signals can be different.

There are a number of things that could cause signal differences between one machine & another. Click here for more information.

There is one additional thing to note when comparing RocketTrade / HRS signals. The strategies & other files in it have changed several times since it was first introduced. So it's possible one machine is using different files than the other.

^ Top
bjmtigers

Posts: 25

Joined: 1/6/2004
Location: Tampa,FL

User Profile
 
Subject : RE: RocketTrade Method
Posted : 4/5/2021 8:00 AM
Post #48018 - In reply to #47823

I noticed that when I run the HRS_Breakout strategy the computer stalls for about 10 to 15 sec per symbol. The Windows resource monitor shows the status as "Not Responding" during the majority of the 10 to 15 sec time period, but eventually the action is completed.

Thanks
Barry
^ Top
Barry Cohen

Posts: 6338

Joined: 1/19/2004

User Profile
 
Subject : RE: RocketTrade Method
Posted : 4/5/2021 10:03 AM
Post #48021 - In reply to #48018

That shouldn't happen. I wonder if your SPY is not updating, so you might check the chart for SPY & make sure it's updated. Just about everything in RocketTrade requires SPY.
^ Top
bjmtigers

Posts: 25

Joined: 1/6/2004
Location: Tampa,FL

User Profile
 
Subject : RE: RocketTrade Method
Posted : 4/6/2021 3:22 PM
Post #48027 - In reply to #47823

Barry C.,
Is there a way to have the HRS_Diff (14,3,SPY) value as a column in the focus list?

Thanks
Barry
^ Top
Barry Cohen

Posts: 6338

Joined: 1/19/2004

User Profile
 
Subject : RE: RocketTrade Method
Posted : 4/6/2021 3:46 PM
Post #48028 - In reply to #48027

Yes, just add an indicator column (right-click the Focus List headers where you want it) & select HRS_Difference.
^ Top
bjmtigers

Posts: 25

Joined: 1/6/2004
Location: Tampa,FL

User Profile
 
Subject : RE: RocketTrade Method
Posted : 4/7/2021 3:16 PM
Post #48029 - In reply to #47823

Barry,
Not sure what was happening with HRS Breakout, but it seems to be working OK now. Another question. For the HRS Trend strategy, the Accumulation Trend filter is optimized "OPT1". Does this optimization change the signals once they are fired or is it completely mechanical?

Thanks,
Barry
^ Top
Barry Cohen

Posts: 6338

Joined: 1/19/2004

User Profile
 
Subject : RE: RocketTrade Method
Posted : 4/7/2021 4:03 PM
Post #48032 - In reply to #48029

Optimization is not enabled in HRS Trend. The Filter you refer to is not enabled for optimization (that would require the Optimize column also enabled on the top left of the Filter block form), so the parameter uses the Default column, which is set to 3. Yes HRS Trend is mechanical.
^ Top
gary

Posts: 16

Joined: 12/13/2003
Location: Houston, TX

User Profile
 
Subject : RE: RocketTrade Method
Posted : 4/7/2021 8:45 PM
Post #48035 - In reply to #48032

"The HRS Trend method is mechanical"

That is interesting. I thought none of the rocketrade methods were mechanical. The demos I recall required manual inspection to decide on a buy or sell. Making them mechanical was stated to be a future goal and one difficult to achieve.
^ Top
Barry Cohen

Posts: 6338

Joined: 1/19/2004

User Profile
 
Subject : RE: RocketTrade Method
Posted : 4/8/2021 10:14 AM
Post #48036 - In reply to #48035

Yes the strategies are all mechanical, as in the strategies have no optimization or change signals in any way. But Ed teaches that discretion is still recommended for the RocketTrade method & not to trade solely on the signals.
^ Top
rwjh333

Posts: 1

Joined: 5/5/2021

User Profile
 
Subject : RE: RocketTrade Method
Posted : 5/8/2021 10:14 AM
Post #48154 - In reply to #47823

Hello, I am new to RocketTrade. I've been using the scanner every day but it seems like no good candidates for the past month. Anyone has success finding a real Rocket lately?


https://www.omnitrader.com/currentclients/otforum/thread-view.asp?threadid=16373&posts=32