Hershey's Equity thread
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I traded Jack's method from Feb to June 2002 using 30min charts for entry & exit. The record of every trade can be found in two Excel spreadsheets in the Douments area at
http://groups.msn.com/ShortTermStockTrading/files.msnw
There are also annotated charts of many of the trades in the Pictures area at
http://groups.msn.com/ShortTermStockTrading/davidmarshall.msnw
Transcripts of the mentoring can be found in allchats.zip.
Please bear in mind that I was at the beginning of the learning curve and the market was not sympathetic to long only trades.
The first few weeks were profitable, but the market did happen to be in a bear rally. We "started over" for a second run in May (P&L new) and the results were very disappointing.
I currently use a neutral strategy (i.e. both long and short, depending upon market conditions). Having said that, I firmly believe that Jack's method has a lot to offer.
I appreciate the work and the posts.
A couple of comments.
I am process oriented and I prefer to work where the group is operating. This is basically a long strategy and it turns out to do that primarily from the viewpoint of the bias in the sorting. By using the EPS and RS to minimize risk, you place yourself fairly far away from the shorting opportunities. Thus I emphasize longs.
You can extrapolate from this, however to get to neutral and then you really have a place to optimize.
I also try to work from concept to detail and it turns out be focussing on a couple of details you can eat up awhole dy of trading. details do make the difference. I hope to get a concept really understood and then go into depth. The depth path and the detail path are a little different.
I appreciate how many people used a variety of ways to get the assessments done. You see the ranks are average % per day gains. The kind of mind set that grows from this is one where doing the job to extract the opportunity is one related to excellence. The fact is the market shows us the potential. We need to go by levels of understanding to get to realize our potential.
There is an abundance of history available too. Check it out to get a better picture of stuff. Since that period the A/D has come into more use and is now available broadly. You are also seeing in IBD that the index MA of volume is present. Also you can see that doing the assessment is an automatic on some monitoring software. It is good that all this stuff is appearing for everyone.
To get to a hot list for tomorrow will not be dificult.
We can monitor chosen stocks on the 30 min fro those who will be available. you can see from the referenced PnL's that we ran a job holder's set of data too.
This is primarily related to 6 to 8 day cycles so monitoring in the evneings only works well. EOD data is adequate and it is possible to use 30 min charts in the evening for review also.
It will take us a while to get four streams going. I recommend the 10,000 each because of clearstation.
I will be taking a lot of heat in ET. I am past most of my handicaps about this. My view is to just take the beating from the unfairness of the ET management style and just let it go. I did not understand the contrast between the market's operation and the activities here. I am outside the ET box. This stuff here will always be regarded as unreal and that I am a fraud type person. That the real context for this process. The flaming venue makes a lot of demands of me and I may seem to be unresponsive to the demands. because they do not google for their requests, I do not feel that I have to butress my efforts with spending our available time on their orientation and wants. I do not deem them as needs.
This place is moving along quite well by my standards. I do not meet the quality standards of the flamers. I am definitely responsible for, the quality of this process. Ordinarily when I am doing my job the quality criteria is specified. That has not been forth coming as yet.
What you have so far is a defined set of activities to support getting a universe of stocks that repatedly meet the trading strategy requirements. you also see non falmers can do the work in a timely manner from the resources available. I work by hand, compared to others here. I spent a few years doing all stuff by hand so I am oriented to the power of the familiararity thus gained. I think you also get that neatly doing it the way others do.
It is clear that there will be a lot of software come out of this for everything. This is terrific. The whole thing has been canned before and it can be improved by leaps and bounds too.
My conclusion on quality as measured by myself is that we have a good quality in every aspect and the insistence of flamers (they now are sceptics) that we don't is just because their criteria is unannounced and they may be screwing up either defining it or using it in a vaccuum they created. One of the next stages of is back testers. the first three runs at it on ES go thier data to a tighness of result that the results range was only an order of magnitude different and they only did the first half of the beginner level. A less than harty effort.
Lets pick the 10 highest ranking stocks for the hot list; it will probably distribute the list over 7's, 0's and 1's. somehow.
We will do a pro rata volume assessment during monday. Post the DU volume on each as well as their 65 day average volume.
A BO in volume is defined as meeting DU before 11:00am est and sustaining it by EOD at FRV (first rising volume) DU means Dry Up and FRV is First Rising Volume. There is a glossary in the journal entitled "Tomorrow's Paper.. etc....
You can put the volume data into the assessment sheets for the Hot list stocks that are chosen.
Staying on the same page works out automatically.
TIA.
A couple of comments.
I am process oriented and I prefer to work where the group is operating. This is basically a long strategy and it turns out to do that primarily from the viewpoint of the bias in the sorting. By using the EPS and RS to minimize risk, you place yourself fairly far away from the shorting opportunities. Thus I emphasize longs.
You can extrapolate from this, however to get to neutral and then you really have a place to optimize.
I also try to work from concept to detail and it turns out be focussing on a couple of details you can eat up awhole dy of trading. details do make the difference. I hope to get a concept really understood and then go into depth. The depth path and the detail path are a little different.
I appreciate how many people used a variety of ways to get the assessments done. You see the ranks are average % per day gains. The kind of mind set that grows from this is one where doing the job to extract the opportunity is one related to excellence. The fact is the market shows us the potential. We need to go by levels of understanding to get to realize our potential.
There is an abundance of history available too. Check it out to get a better picture of stuff. Since that period the A/D has come into more use and is now available broadly. You are also seeing in IBD that the index MA of volume is present. Also you can see that doing the assessment is an automatic on some monitoring software. It is good that all this stuff is appearing for everyone.
To get to a hot list for tomorrow will not be dificult.
We can monitor chosen stocks on the 30 min fro those who will be available. you can see from the referenced PnL's that we ran a job holder's set of data too.
This is primarily related to 6 to 8 day cycles so monitoring in the evneings only works well. EOD data is adequate and it is possible to use 30 min charts in the evening for review also.
It will take us a while to get four streams going. I recommend the 10,000 each because of clearstation.
I will be taking a lot of heat in ET. I am past most of my handicaps about this. My view is to just take the beating from the unfairness of the ET management style and just let it go. I did not understand the contrast between the market's operation and the activities here. I am outside the ET box. This stuff here will always be regarded as unreal and that I am a fraud type person. That the real context for this process. The flaming venue makes a lot of demands of me and I may seem to be unresponsive to the demands. because they do not google for their requests, I do not feel that I have to butress my efforts with spending our available time on their orientation and wants. I do not deem them as needs.
This place is moving along quite well by my standards. I do not meet the quality standards of the flamers. I am definitely responsible for, the quality of this process. Ordinarily when I am doing my job the quality criteria is specified. That has not been forth coming as yet.
What you have so far is a defined set of activities to support getting a universe of stocks that repatedly meet the trading strategy requirements. you also see non falmers can do the work in a timely manner from the resources available. I work by hand, compared to others here. I spent a few years doing all stuff by hand so I am oriented to the power of the familiararity thus gained. I think you also get that neatly doing it the way others do.
It is clear that there will be a lot of software come out of this for everything. This is terrific. The whole thing has been canned before and it can be improved by leaps and bounds too.
My conclusion on quality as measured by myself is that we have a good quality in every aspect and the insistence of flamers (they now are sceptics) that we don't is just because their criteria is unannounced and they may be screwing up either defining it or using it in a vaccuum they created. One of the next stages of is back testers. the first three runs at it on ES go thier data to a tighness of result that the results range was only an order of magnitude different and they only did the first half of the beginner level. A less than harty effort.
Lets pick the 10 highest ranking stocks for the hot list; it will probably distribute the list over 7's, 0's and 1's. somehow.
We will do a pro rata volume assessment during monday. Post the DU volume on each as well as their 65 day average volume.
A BO in volume is defined as meeting DU before 11:00am est and sustaining it by EOD at FRV (first rising volume) DU means Dry Up and FRV is First Rising Volume. There is a glossary in the journal entitled "Tomorrow's Paper.. etc....
You can put the volume data into the assessment sheets for the Hot list stocks that are chosen.
Staying on the same page works out automatically.
TIA.
does this sound like scientology to anyone else but me? or maybe its the reptoids.
i know, i'm a detractor. later you will thank me
i know, i'm a detractor. later you will thank me
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