Monkman's trading journal

M

Monkman

About My Self:

I have been trading stocks for several years now. Last November I started learning about the Hershey method, and Spyder's journals. I attended several of Jack's meetings in Tucson, where I was inspired and motivated to further my knowledge. Soon after I began trading this method exclusively, and have never looked back since. Earlier this month I graduated from college and was trying to figure out what was next in my progression of life. I decided the best thing for me was to pursue a dream early on while I still had the opportunity.


My Goal:

My goal is to make a high enough percentage gains so I can be self supporting through trading stocks. I have created this journal so I can further the reiterative refinement that Jack talks about in person and in his publications.

My Method:

The Jack Hershey Method with Spyder's influence.


When Will I Start?

June 1

Do I welcome post with suggestions and questions?

Yes, feedback would be appreciated, but keep in mind this journal is to show the progress of one out of several thousand Hershey traders. If you are not familiar with these methods please refer to Spydertrader's trading journal.

Thanks,

- Monkman
 
I started over with my final Universe, the stocks I have in it are below:

MTOX
PRXI
SYX
CECE
CHB
SYNL
GROW
SNCR
ININ
JSDA
ROCM
LEND


Will be watching the market on a daily basis to slowly transition back into watching the market, and doing the nightly prep work.

- Monkman
 
Updated Universe:

BRLC
CECE
CHB
FRG
GROW
IIG
ININ
JSDA
LEND
MED
MEH
MTOX
NCTY
NFI
NGA
PRXI
ROCM
SNCR
SYNL
SYX
TGX

- Monkman
 
Bought GROW today 21.02 at 8:49am central time. It had gapped down, and the vol was heavy in the morning. I ended up selling later at 21.07 due to it not continuing FRV. Wash trade.

The second trade I made today was FRG. Bought at 11.78 at 9:19am. Yesterday I scored this at a 1. Trade is currently open.
 
Bought PRXI at 14 at 11:19. This was past the 11:30 cutoff so we will see how it turns out. If you look at the daily volume it appears that an increasing black gaussian is forming. This stock went from dry up to FRV by the end of day. Tomorrow we will look for follow through meaning when volume is thrown at it, the stock will begin to rise.

My hot list for tomorrow:

Group 7
NFI
PRXI

Group 1
SYNL
CHB
NCTY
CECE

Group 0
FRG
LEND
GROW
ROCM
TGX

Pitch
MEH
 
Sold off FRG(1.87%), and PRXI (breakeven).

PRXI did not make maintain FRV so I sold using beginner rules.

FRG was getting hit with vol but experienced very little price appreciation. Had a run up in the beginnig and then stagnated along, so I chose to sell. If vol increases price is suppose to follow through or volatility is suppose to increase. I saw neither so time to take profits.

Hot list for tomorrow:

Group 7
NCTY
SNCR

Group 1
NGA
MEH
JSDA
MTOX

Group 0
GROW
SYX L/S
IIG
ROCM
FRG

Pitch
LEND
NFI
TSYS - S
 
Bought MTOX (25.60) at 9:38am. Went into FRV pretty quickly with strength. Ended up selling it later in the day for a (1.37%) gain. It started going up rapidly and wanted to lock in profits to avoid the potential of loosing all of it. After reviewing the day I probably should have held or bought back once the gaussians looked better on a 30min.

Also put in an order to short TSYS, but no shares were available at Interactive Brokers. This is probably one of the many reasons why the short side is not discussed as much in the journals.


Grow had a huge breakout toward the end of the day. Was not watching my screen during the last two hours of the market. This uncommon opportunity is why I should watch the market every hour from open to close. The breakout of grow has reinforced the need to watch for breakouts after 11:30.

In the past I have traded stocks using more advanced TA when deciding to buy, hold , or sell. As of right now, I am sticking with a Beginner strategy until I get warmed up with the market again. I believe that it is a natural law that the more profits you make the greater risk tolerance you endure. This has been my experience with the market over the years.
 
My Hotlist for Monday:

Group 7
IIG
GROW
MTOX
CECE
ININ

Group 1
CHB
NCTY
JSDA

Group 0
FRG
ROCM

Pitch
SNCR - S
MEH - S/L
SYX - S

Notice how GROW and MTOX went from being a 0 and 1 to 7s. One of my goals is to get a better feel for the trading cycle, and be able to identify where each stock lies at any given point.

Some times when you look at a bullish channel you see the price reaching toward the top. You would think it would be a 5 or 4 coming to the peak and hitting the top of the channel transforming into a 3. But I have noticed that even at these levels channel widening happens often. How do we identify when stocks begin to turn down or retrace. Hopefully through this journal I can find the answer.

Was a fun week of trading. Have a good weekend, and more excitement to come.

- Monkman
 
Long ROCM (15.23) at 8:36am. Volume appeared to be strong at the time. Since this was only six minutes into the trading day, its hard to gauge whether its going to hit that .10 mark by the first 30min. I decided to get in early. The stock pulled back and then shot up to new highs. I continue to see it miss FRV levels but originally did this because I believed the TAPE would hold. As the price broke support, I made the decision to sell and take a 1.97% loss than wait till it hit the immediate RTL for another test. I can always pick this stock back up so its no big deal. At this point, I believe keeping my potential looses to a minimum is key.

For the next two days, I will not be trading to avoid violating the pattern day trading rule. IB is really weird about their holding periods, so on Thursday I should be back in Commission once they make the funds available.

Hot list for Tomorrow:

Group 7
IIG
PRXI
SYNL

Group 1

Group 0
ROCM
JSDA - dry up
DRYS - new addition to universe
CHB

Pitch
NCTY (5) - dry up
MEH (5)
SYX - buy if it holds RTL on decrease volume, short if it breaks.
 
You must log in or register to reply here.
Back
Top