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Question for Grob/Hershey...
- Thread starter makosgu
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I don't trade rockets, as described by Jack, but I use his indicator setup and channels. They work nicely. Mostly I trade options on equities and indices.
Quote from easyrider:
... Curious if anybody is trading these rockets. Two today. One wash and that last one was pretty nice. There were three yesterday. Two the day before. I keep waiting for someone start nailing them but the silence is deafening.
Rockets, Icebergs, etc. - you guys may want to create a glossary for these terms for those unfamiliar with Jack's methods. The search function doesn't help much unless you want to go through hundreds of posts, which is very time consuming and an inefficent way of learning about something. If one wants to learn his method what is the best starting point, is there a manual?
Quote from Kensho:
you guys may want to create a glossary for these terms for those unfamiliar with Jack's methods. The search function doesn't help much unless you want to go through hundreds of posts, which is very time consuming and an inefficent way of learning about something. If one wants to learn his method what is the best starting point, is there a manual?
The glossary does exist but you may find that you will learn more by creating your own. Everything is as you suggest, all over the place. I might suggest that you begin with topics that you think you know about and cover those first, as you might gain some new ideas as you review them.
You do not learn a subject without struggling through it on your own, everything cannot be given. Imagine if farmers sat around on their porches wondering when the crops would be ready for harvest.
Once you've finished with your manual you can pass it on to someone you know that would benefit from it. Their questions to you will help you to even further refine your knowledge. Good Luck and good trading to you. I wish you success in your search. PM me and I will forward to you a general outline that may be of some help.
EX
Quote from Kensho:
Rockets, Icebergs, etc. - you guys may want to create a glossary for these terms for those unfamiliar with Jack's methods. The search function doesn't help much unless you want to go through hundreds of posts, which is very time consuming and an inefficent way of learning about something. If one wants to learn his method what is the best starting point, is there a manual?
When I was a kid my dad and I did a lot of trout fishing on small streams and I would spend more time walking than I did fishing because I could'nt resist seeing what was around the next bend. Research on something youre really interested in is not work and the side trips are often the most productive.
I found a glossary fairly quickly when I got interested in Jacks methods but it took me a couple of years to understand the definitions therein.
This post is written in invisible ink. Only B teamers will be able to read it since presumably the entire B team is on ignore by the A team. Attached is a equity report from an always in system for the ES. It utilizes MACD in several unique (afaik) ways on 5 minute bars. Averages about 2.5 trades per day. PM me for the tradestation eld. No "A" teamers will get it. Ha Ha, they can wait till Shaitan shivers in his domain til Grob comes up with the goods. He has been promising gold and delivering pyrite since he started trolling the internet. His failure is due to his belief that stock trading ideas (P,V realtionship) work on Index futures. Stocks not part of an index, the majority of his universe ala Spydertrader, exhibit volume from pure interest in the stock. Volume in index futures exhibit hedging, speculation, program trading and arbitrage. The volume information from Index futures is clouded by the noise of these additional factors.
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Quote from easyrider:
Curious if anybody is trading these rockets. Two today. One wash and that last one was pretty nice. There were three yesterday. Two the day before. I keep waiting for someone start nailing them but the silence is deafening.
That's because "rockets" can't get up enough thrust for liftoff and they fizzle on the launching pad or even blow up. In a rare moment of clarity, the maestro himself described "rockets":
Quote from the maestro himself :
"To find a rocket you only have to have your quality universe (they are very high quality stocks with EPS and RS at 80 to 90 percentiles each. The only indicator that is significant is the Stochastic (5,3,3). What you look for on your daily charts are the stochastic rising deliberately to the 80% line and overshooting it and then critically damping on the line; perturbations will cause it to look entwined on the line. There you have it."
I recently THOROUGHLY backtested "rockets" using the EPS and RS rankings that were available at the time of the backtest. I tested them in up, down and sideways market conditions. I looked at tons of variations, to include stocks whose EPS and RS percentiles met the criteria for the last quarter only, combinations of past quarters and for the whole year. I varied the percentiles, and even included a Stoch adjustment that Jack himself posted of 5,2,3 (as if that would matter if the concept was sound).
Bottom line is that in most cases, rockets performed no better that picking stocks by throwing darts. Some variations did slightly outperform random selection in down markets; the only problem was that those variations also underperformed in up markets.
Quote from Trader666:
That's because "rockets" can't get up enough thrust for liftoff and they fizzle on the launching pad or even blow up. In a rare moment of clarity, the maestro himself described "rockets":
I recently THOROUGHLY backtested "rockets" using the EPS and RS rankings that were available at the time of the backtest. I tested them in up, down and sideways market conditions. I looked at tons of variations, to include stocks whose EPS and RS percentiles met the criteria for the last quarter only, combinations of past quarters and for the whole year. I varied the percentiles, and even included a Stoch adjustment that Jack himself posted of 5,2,3 (as if that would matter if the concept was sound).
Bottom line is that in most cases, rockets performed no better that picking stocks by throwing darts. Some variations did slightly outperform random selection in down markets; the only problem was that those variations also underperformed in up markets.
Could you post 10 or so equity curves?
I honestly dont know how you would backtest rockets. I would say about three fourths of my rocket trades do not work out. I call them washes but they might be minus a tick or two or plus a tick or two or flat. Over time they average out flat. About one out of four turn a profit, a couple of points, sometimes several points. I never take any significant losses with them. Occasionally I will get clipped for a point but it is rare. I just dont know how you would include the washes in your backtesting. They are critical to trading rockets. You are trading momentum. It must go your way almost immediately. If it stalls around you get out, no ifs ands or buts. If you are entering on momentum with volume at your back it is almost impossible for it to reverse on a dime and trap you. If it does you go out at market and curse for a bit. It happens occasionally.
âTo sense and comprehend after action is not worthy of being called comprehension. To accomplish after striving is not worthy of being called accomplishment. To know after seeing is not worthy of being called knowing. These three are far from the way of sensing and response.
Indeed to be able to do something before it exists, sense something before it becomes active, see something before it sprouts, are three abilities that develop interdependently. Then nothing is sensed but is comprehended, nothing is undertaken without response, nowhere does one go without benefit.â (Cleary)
Indeed to be able to do something before it exists, sense something before it becomes active, see something before it sprouts, are three abilities that develop interdependently. Then nothing is sensed but is comprehended, nothing is undertaken without response, nowhere does one go without benefit.â (Cleary)
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