Jack Hershey Method: Beginner Rockets

Quote from Grob109:

Here ia a brief overall comment.

I recommend that you disregard all of chicken little's comments here and anywhere that you find them.

My orientation to trading and other people is to support a persons' complete learning processes if they wish me to engage with them. How I engage and what good learning processes may be are well thought out from my point of view.

Learning to make money can be defeated in many ways. I will not go into this truth of trading but learning is a very serious and important consideration.

There is also the factor that money is involved; other peoples money is always an important consideration for anyone associated with it in any way including even remotely.

Here is one thought for you. If you wish, at some point, take my example to heart on one matter. I do not trade on the 1 minute chart nor do I ever in my life recommend anything to anyone with respect to 1 minute data. This is apparently unknown to chicken little.
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from grob109
All the APA stuff is done as best as possible. The entry of a trade that turns out to be a wash is easy and normal. You go market and see what the result is ASAP. The reversal half is done in a way that makes the best of things; usually it is not effective. It could for some people be tied to the former entry and you must move from the 5 min to the one min as soon as the flag goes up. Most APA's are not done in trends but are usually done at times when market direction is an issue. You are in the market and the direction is the issue that subsquently arises
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http://www.elitetrader.com/vb/showt...12&perpage=6&highlight=sexy idea&pagenumber=7
 
Quote from Chicken Little:

http://www.elitetrader.com/vb/showt...12&perpage=6&highlight=sexy idea&pagenumber=7
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CL,

Going to the 1 min refines the ability to monitor if the price moves against you immediately.

If you enter and the price falls below the high of the last bar, that is a red flag. Go to the 1 min. If price and volume continue to degrade, leave the trade.

You are not to make routine trading decisions on the 1 min chart. It will fray the nerves.

Best Regards
Oddi
 
Quote from oddiduro:

CL,

Going to the 1 min refines the ability to monitor if the price moves against you immediately.

If you enter and the price falls below the high of the last bar, that is a red flag. Go to the 1 min. If price and volume continue to degrade, leave the trade.

You are not to make routine trading decisions on the 1 min chart. It will fray the nerves.

Best Regards
Oddi
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Thanks. Thats how I read it . Though it is a 1 minute chart, the MACD and STOCH readings are from the 5 minute data.

You can see that the volume, MACD,and STOCH readings are identical even though the left chart chart is displaying 1 minute bars and the right is displaying 5 minute bars.
 

Attachments

Market opened right into a beautiful rocket this morning. I hope you caught it. The early short rockets are far and away the best ones, imo.
 
Quote from Chicken Little:

Does this model look like it replicates the basic rules for beginner rockets ? Does not include "wash trade" exit logic.
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This looks like automation.

Make sure that you have code that will not take the trade if volume does not confirm the breakout. Volume should exceed DU, and price should maintain it's strengh through the next bar. If price goes against you immediately, you could get hurt badly on a spike if you are not there to oversee the trade.

On three of you short trades you could have gotten out earlier than you did if you were doing it by hand.

There is monitoring that needs to be done, this is not a "set it and forget it" system.

Best Regards
Oddi
 
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