Spydertrader's Jack Hershey Equities Journal II

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Quote from Charly:

Impossible to open - unfortunately.

By the way: what is the meaning of "derivitive"? >derivAtive< would be ok.

thanks
Charly
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The URL above links to a Microsoft Word document. Judging from the fact that 343 individuals downloaded the document, I can only surmise your use of the word 'impossible' refers to something other than downloading a simple file. In the future, try to control the impulse to hassle people with respect to spelling errors. Such behavior doesn't present you in the most positive light.

- Spydertrader
 
Quote from stevegee58:

I'm going to start watching the final universe every day instead of just my dry-up FU stocks.
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And just like that, someone decides to make the transition from using 'beginner' methods to 'intermediate' level tactics. No secret handshakes. No linguistic code to decipher. Just a simple observation which resulted in a plan. The exact moment when people arrive at this point in their trading differs for each individual. One does not compare where they are in their own timeline with a timeline of another trader. Rather, one determines how to transition from where they are now, to where they want to be in the future. Just as in trading, taking action at the appropriate time often results in profits, so too does the decision to transition to the next level require accurate timing. For Stevegee58, today marked the point in time where he decided he needed to move forward. For others, the transition may arrive sooner or much later than today. Take all the time needed to prepare. The market will be ready and waiting.

Good Trading to you all.

- Spydertrader
 
If your watching the FU for vol % change are you still using the basic principles for entry MACD stochastics + change from yesterday etc or are you just trading based on vol% and r/s channels?
 
Quote from mktman:

If your watching the FU for vol % change are you still using the basic principles for entry MACD stochastics + change from yesterday etc or are you just trading based on vol% and r/s channels?
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Think of it as changing ones viewpoint from watching lines in the sand, to looking for a range of changes. How much volume does it take to cause a particular change in price? Do we expect that trend to continue? Where does price sit with respect to an IT Channel? With respect to a 20% move?

If one dumps a box of puzzle pieces onto a table, how many pieces do you need to have in place before you can 'see' the picture? Repeat the process several times, and the pieces come together faster, and the picture becomes clearer sooner. The same process works with studying charts.

- Spydertrader
 
Could someone please clarify if my understanding is correct for channel time frames:

Weekly Channel: Long term
Dialy channel: Intermediate term
30min/5min channel: short term

I just want to make sure I am looking at the right channels when we are discussing them in the posts.
Thanks
 
I got the signal on ANDE too. While I was calculating position size, initial stop, etc and entering the order my damn coffee-slurping office-mate got lonely and needed to talk. Missed a really good entry.

Gotta ditch the day job.
 
Quote from stevegee58:

I got the signal on ANDE too. While I was calculating position size, initial stop, etc and entering the order my damn coffee-slurping office-mate got lonely and needed to talk. Missed a really good entry.

Gotta ditch the day job.
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:D RE: missed good entries...

Tell ya..its like chinese water torture NOT trading and waiting for set ups AND reading the journals. This is only my 2nd trade! Im sure spidy will tell us; patience grasshoppers as opportunities are like buses..if ya missed one..another one will come along! LOL

Now, Im wondering; its 9:10am PST and with the volume at a healthy 1.5M with Peak showing at 2.4M; we could:
- sell it if it hits Peak before EOD
- put a stop at 38.5 for a 50 cent day?
- wait till tomorrow (which im inclined to do as the daily chart shows this baby wanting to turn (resistance i figure would be at the 38.87 mark)

advise for young fat ugly luke? tks
 
Quote from virgintrader:

advice for young fat ugly luke?
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Patience remains one of the hallmarks of a profitable trader. Learning to sit on your hands and take no action often requires tremendous discipline, and that discipline, helps to build a foundation for following a profitable trading plan. Most traders who have failed to reach profitability lack the discipline necessary to succeed. Discipline to thoroughly research and study one's methods, Discipline to follow a trading plan, Discipline to use sound money management and Discipline to take timely action (for entry or exit) develops over time and with experience.

One needs look no further than this week to see the multiple opportunities presented only using the beginner methods outlined in Journal One. If you missed NEU, TXCO appeared the next day. If you missed TXCO, MGPI appeared on the scene. IF none of this equities made it onto your radar, ANDE moved to the front of the line today. One train (bus) after another providing opportunity for profit. No need to chase one down. Another will be along shortly.

With respect to your questions on ANDE, I recommend monitoring volume throughout the afternoon. Does ANDE exceed Peak Volume today? Does it do so on increasing volume and higher price into the close? Do the indicators start to 'roll over' into the afternoon? Try keeping everything in context. With the increased level of geopolitical risk (Iran, Iraq, Israel, etc.) you may simply wish to take your money and run, rather than hold too much longer, and risk a reversal. Of course, your mileage may vary.

- Spydertrader
 
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