Spydertrader's Jack Hershey Equities Journal II

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I don't disagree at all Spyder... a Max Pain analysis may be interesting though... I will try to whip something up in the next week if time permits :)
 
Quote from chapper:

I don't disagree at all Spyder... a Max Pain analysis may be interesting though... I will try to whip something up in the next week if time permits :)
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I look forward to seeing your results, as well as, any conclusions you might reach. I'm always interested in anything that might improve profits, or more importantly, reduce losses.

- Spydertrader
 
GROW disappointed me today. I got a good Low Band volume signal, price improvement, stoch, etc. It ended up not getting anywhere near FRV by end of day so I dumped it for an $0.11 profit.

I'm thinking I don't like GROW due to its low volume.
 
I'm still riding the IVAC horse. Now it's close to my buy point but with lower volume than yesterday. It is also within the lower part of the channel. I will wait to see what happens. I am patient.

Thoughts are welcome,

gooch87
 
max pain stats for some of the stock in DU on 4/19

Symbol Last Trade MAX PAIN
CKCM 22.43 22.5
ENG 11.7 10
BNT 12.64 12.5
CNTF 14.6101 12.5
FMD 43.89 45
MTEX 18.38 15
NWRE 26.8 25
SFCC 23.33 22.5


The Calculator I used can be found: http://www.iqauto.com/cgi-bin/pain.pl

There seems to be some correlation on CKCM, BNT, FMD, SFCC... only half of them... guess we will see where they end up tomorrow. Cheers
 
Quote from Spydertrader:

You can set most software programs (I used Quotetracker when I traded part time) to email your mobile phone alerts based on a variety of settings. I used volume alerts, but you could also use trendlines or any other indicator in your charting software.

In addition, you could search for stocks in recent pullbacks from their longer term channel and set a line at which you could be sure the trend had reversed. Set a buy stop (limit) order at this price point, and head off to work. At this point, if the stock does break out, the market rises to bring you into the trade.

Also, some brokers have conditional orders you can place. By example, you could automatically place your trailing stop once your long order is filled (MBTrading has numerous order types that fit the bill).

Lastly, some people have developed automated programs to monitor the market and place their orders through a brokerage application. I recommend exhaustive testing before implementing this approach.

As you can see numerous methods exist for adapting your trading style to regular working hours. Depending on the time zone of your home city, additional solutions exist as well.

I hope that helped.

- Spydertrader
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Hi Spydertrader,

Thanks for the response. I'll give thought to your suggestions, which make a lot of sense.

I wish I had the time during the day to follow the intraday method that's being used here. If there are others following along who are making end-of-day trades, please chip in with your methods and experiences. I'm going to begin making EOD trades in the coming weeks and will do my best to post as I go.

Regards,

chaos
 
Quote from gooch87:

I'm still riding the IVAC horse. Now it's close to my buy point but with lower volume than yesterday. It is also within the lower part of the channel. I will wait to see what happens. I am patient.
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While the Stochastic Indicators no longer show positive divergence, a closer look at the Daily IVAC Chart (attached) shows a typical pullback evident in 20% price runs of the past. While past performance never guarantees future success, I feel you have wisely chosen a 'watchful waiting' strategy providing the trade plenty of time (and room) to play out. Tomorrow should provide some guidance as to future direction for IVAC.

- Spydertrader

<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1045768>
 

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Quote from gooch87:

here is my trade confirmation

<img src="http://www.elitetrader.com/vb/attachment.php?s=&postid=1044566"></img>
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gooch,

Great trade. Unfortunately, I'm in the Eastern time zone, so that trade would have come up during my work day.

Do you ever set your entries in advance, as Spydertrader suggests?

chaos
 
Quote from chapper:

There seems to be some correlation on CKCM, BNT, FMD, SFCC... only half of them... guess we will see where they end up tomorrow. Cheers
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For those individuals who may not have experience with trading Options or a thorough understanding of Max Pain Theory, could you explain how you view the above correlations with respect to expectations of price movement? I think many individuals would find such a review helpful.

- Spydertrader
 
Quote from chaos:

I wish I had the time during the day to follow the intraday method that's being used here.
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The Rush Trade Demo platform used to run the previous market day on a loop - allowing a trader to test out the software after normal market hours. If their current Software Demo performs in the same fashion, you might be able to practice your trading after work using the "Intraday Methods" discussed here. Once you become comfortable with the Methodology, you could then alter the methods slightly to whatever form best suits your risk tolerance.

- Spydertrader
 
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