Spydertrader's Jack Hershey Equities Journal II

Status
Not open for further replies.
I just got looking at your recently release of Bruno_R 2.0. It looks really great ... very well done! But I noticed that you ignore the volume reaching Vpeak as a sell signal. What are your thoughts about this.:D
 
Quote from Spydertrader:

As you move further along in your reading, how scoring relates to the overall process becomes much clearer to you. Use scoring as a 'big picture' focus, rather than, a criteria for entry or exit. Jack uses score to teach a concept of how the PVAD relationship works. In addition, when you run across updates to the tools you are using now, you'll see how score is automatically calculated, and you will no longer need the same tools you are using now. For now, keep a mental note of score and how it relates to how your Final universe performs.

- Spydertrader
More...
Thanks again! Sorry for being a bit impatient .
 
Quote from icarus:

I just got looking at your recently release of Bruno_R 2.0. It looks really great ... very well done! But I noticed that you ignore the volume reaching Vpeak as a sell signal. What are your thoughts about this.:D
More...

I tested numerous variables in an effort to arrive at a simple process which not only backtested well during bull market phases of the market, but also, during less than optimal conditions. In addition, I wanted to avoid any 'curve fitting' of the data set. As a result, I used a subset of the current Final Universe (culled for one additional parameter - 25% Insider Owned) in order to compare results. Once I could see that the test results met with my expectations, I posted the Chartscript. In the future, I do plan to optimize the entry and exit criteria. However, due to time constraints (I'm attempting to learn futures at the moment) I wanted to release the Bruno R II chartscript 'as is' to provide something for people to test on their own.

- Spydertrader
 
When picking the 7's in stocktables (10 from the top) why is there for these stocks no volume criteria. Is this not limiting the stocks that reach the final universe (because chances are high that a stock with for example 50000 and are at the top of the list will never have an average volume of 200000 or more and because of this will never reach the final universe), and because of this the number of potential setups? I understand that in a downtrend because of this you have some overlap because a lot of stocks do not meet the criteria of a higher close but this reverses when market conditions change. Maybe I am wrong about this or is it already discussed. But my thoughts are that you want as many stocks in your final universe that made at least 5 times a 20% move in 6-8 days for the last 6 months so you can rotate the money as fast as possible and I think that because of not having a volume filter for the 7's you will limit the final universe list.
 
Quote from Mercury77:

When picking the 7's in stocktables (10 from the top) why is there for these stocks no volume criteria. Is this not limiting the stocks that reach the final universe (because changes are high that a stock with for example 50000 and are at the top of the list will never have an average volume of 200000 or more and because of this will never reach the final universe), and because of this the number of potential setups? I understand that in a downtrend because of this you have some overlap because a lot of stocks do not meet the criteria of a higher close but this reverses when market conditions change. Maybe I am wrong about this or is it already discussed. But my thoughts are that you want as many stocks in your final universe that made at least 5 times a 20% move in 6-8 days for the last 6 months so you can rotate the money as fast as possible.
More...

I hate to give you the same answer as before, but this too works itself out as you continue the reading. As you progress, you'll see the iterative refinement process at work. Just as now, you have these questions resulting from a desire to improve upon the initially stated methods, many before you had the same questions, and sought better answers. As a result, we incorporated those answers into the methods we use today. By starting at page one and continuing through the entirety of both Journals, you'll find yourself asking many of these same questions again and again, only later to see the process move in the direction you anticipated. Most use this as a metric to measure transference while learning the methods from the old posts. In other words, you are ahead of the curve.

- Spydertrader
 
Hey everybody, I just wanted to thank everyone fo an awesome journal, great job Spyder. I am a complete newbie to trading (never bought a stock in my life) and was very happy to find such an informative journal that has taught me a great deal about equities. Over the last two months I read through J1 and J2 taking many notes and studing as much has possible. The other day I made up a sheet of entry/exit rules that I will follow when I begin paper trading within the next week or two. I figured I would do my part and post the outline in the attached file. The methods are based off of Spyder's methodology at the end of J1. I added in a few things just to keep me on track so I dont get mixed up in the plan. I must stress that the methods are for the beginner and thus are based around using the beginner method of entry/exit for DU--->FRV---->Peak. I think that any newbie to the system (just like myself) will find the information useful for testing and getting used to the overall methods. I also hope that some of the experienced traders can add some critical feedback so I can refine my approach for the future.
 

Attachments

Quote from justyield:

I know it's tempting to be Harry Hindsight, but I did not understand his entry for ATHR. It seemed to be made before any indication of increasing volume - or am I mistaken? Don't you want higher volume at the opening AND evidence of price increase AND confirmation before entering? The stochs were very low also.

Attached is my take on the chart. Comments welcome, I'm a complete novice.

JY
More...

Hi justyield,
I was trying to buy soon after the start of a new trend and get the low price of the day. I use channels to make it clearer when I should enter. I didn't consider the price in the context of the primary down channel. As you correctly point out, I did not pay close attention to the price/volume relationship either, but live and learn. I reduced my share size and set my stop to help mitigate risk. I ended this trade with a 2% loss from this money stream and 7% loss on the trade.

Here is my post trade analysis chart. The chart looks kinda messy with all the notes.

<img src="http://www.elitetrader.com/vb/attachment.php?s=&postid=1116815"></img>
 

Attachments

Quote from Spydertrader:

I hate to give you the same answer as before, but this too works itself out as you continue the reading. As you progress, you'll see the iterative refinement process at work. Just as now, you have these questions resulting from a desire to improve upon the initially stated methods, many before you had the same questions, and sought better answers. As a result, we incorporated those answers into the methods we use today. By starting at page one and continuing through the entirety of both Journals, you'll find yourself asking many of these same questions again and again, only later to see the process move in the direction you anticipated. Most use this as a metric to measure transference while learning the methods from the old posts. In other words, you are ahead of the curve.

- Spydertrader
More...
Thanks for the reply. I stop asking you questions until I read both journals. I am now on page 168 of the first journal and I see that you start to use the method as I described it. Really great content and I am looking forward to the rest of both journals. Its like reading a good book. You cant stop:) .
 
Status
Not open for further replies.
Back
Top