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[2020-08-03 01:52:10] <ljrbot> New news from bzr: [0.2.8.3-armagetronad-work] r1333 Correct LP names for Zero Install archives
[2020-08-03 02:05:30] <Lucifer_arma> ct|kyle: don't worry, I'm starting with stocks, but studying up on options while I'm at it. I was wondering about the RSI because the api I'm using offers a number of options, but since it's all calculated on historical data, I'm going to go ahead and write my own.
[2020-08-03 02:06:01] <Lucifer_arma> so you're looking at realtime during the day stuff, and I'm trying to calculate daily, because I'm still not looking to do day trading.
[2020-08-03 02:19:12] <Lucifer_arma> woohoo, I recovered my scooter seat
[2020-08-03 02:19:28] <Lucifer_arma> now I need to replace the head gasket and machine the head so it'll run well
[2020-08-03 02:19:32] <Lucifer_arma> good, whatever
[2020-08-03 02:19:58] <Lucifer_arma> then it'll be time to look at the starter switch and see if I can recondition it, or if I should buy a replacement
[2020-08-03 02:20:02] <Lucifer_arma> then it's time to sell
[2020-08-03 02:20:52] <Lucifer_arma> even if it only sells for $600, my profit on it is huge, because I got it for free. But I'm still going to try to get $800-$1k for it.
[2020-08-03 02:21:58] <Lucifer_arma> I also need to do some fiberglass work on my other scooter so I can learn the fiberglass stuff I need to know to fix the gigantic water leak in my new RV,
[2020-08-03 02:22:15] <Lucifer_arma> and also so I can fix body damage on scooters using fiberglass, which is cheaper than trying to source replacement body panels
[2020-08-03 02:22:31] <-- luke-jr has quit (Quit: ZNC - http://znc.sourceforge.net)
[2020-08-03 02:23:04] <Lucifer_arma> and if I can figure out how to make a scooter leave a trail of impenetrable wall behind me, that would be great
[2020-08-03 02:23:29] <Lucifer_arma> I already have to stop myself from grinding on the construction walls when I see them to try to pick up speed
[2020-08-03 02:24:00] <Lucifer_arma> (side note: go back and watch the light cycle sequence. They're riding scooters, not motorcycles)
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[2020-08-03 16:51:34] <ct|kyle> Lucifer_arma: yes, I day trade, good news on your scooter, what brand RV do you have?
[2020-08-03 21:26:53] <Lucifer_arma> ct|kyle: It's a '95 Georgie Boy Pursuit
[2020-08-03 21:28:27] <Lucifer_arma> I guess what I'm wondering about the RSI and other indicators is how useful they are in a daily/weekly context to run with different resolutions
[2020-08-03 21:29:11] <Lucifer_arma> like, I could run RSI with the 6, 12, and 24 steps you said. 6-12 is a fairly standard range to use, in fact. So how useful would running the 24 step be, since it's using 24 days' worth of data?
[2020-08-03 21:30:37] <Lucifer_arma> 6-12 is used to clean up noise. When you run those same steps where the data points are 5 minutes apart, like when you're day trading, then your 24 steps are 120 minutes, so two hours' worth of analysis
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[2020-08-03 21:57:44] <ct|kyle> Lucifer_arma: I just feel like it helps to whatch where it is when entering and deciding to exit a position
[2020-08-03 21:57:53] <ct|kyle> not really sure how to explain it all
[2020-08-03 22:57:03] <Lucifer_arma> ct|kyle: I get the basics. RSI < 30 means it's probably undervalued, and > 70 is probably overvalued. But when you look at an RSI graph layered on top of a stock price graph, as you pointed out before, RSI doesn't give you direction.
[2020-08-03 22:57:30] <Lucifer_arma> I get that. What I'm working on now is figuring out what resolution of RSI is going to be useful, and on the way to doing that, understanding what different resolutions tell you
[2020-08-03 22:58:10] <Lucifer_arma> so, for a day trader, knowing RSI as an average over two hours tells you something different than what it was over 30 minutes. Also, you have to keep in mind that other traders are looking at it, too.
[2020-08-03 22:58:45] <Lucifer_arma> So RSI < 30 could also indicate that there's about to be a run on the stock, because it'll attract other traders
[2020-08-03 22:59:55] <Lucifer_arma> so, what does it mean if your RSI is made up of data points that stretch out over, say, 30 days? Do stocks stay undervalued that long? Or does it indicate more about stability, and thus provides a sort of gauge on how soon you might expect to flip the stock and turn a profit?
[2020-08-03 23:01:04] <Lucifer_arma> RSI using one day's worth of data, but cramming 30 data points into it, would be helpful to see what's happening on a daily basis, while looking at two weeks' data points give you a better view of the overall health of the stock?
[2020-08-03 23:01:44] <Lucifer_arma> so if you were to go extreme and use 1000 data points, the closing price for the last 1000 days, and your RSI is > 70, does that mean that investors think this company is going out of business and you should unload asap?
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