Spydertrader's Jack Hershey Equities Journal II

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Thanks for the examples spooz. So, where is the entry for the short trade? In both examples do you try to short as high on the FFT as possible? Or, wait for the BO to close below the major channel? Or, wait for a surge in volume?

Is it necessary to wait for pt 3 to be defined before entry?

Thank you
 
Quote from spooz_trader1:

ebulldog,
The channel on the left has a new point 1 on the LTL of the long channel. This starts the new red channel down. In this case, point 3 is the FTT. The channel on the right has an FTT that is point 1 of the new channel.
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Spooz-
that's exactly how I would have drawn it. Good to get some confirmation.

Thanks to Ezzy too for the comments.
 
Quote from ramora:

Thanks for the examples spooz. So, where is the entry for the short trade? In both examples do you try to short as high on the FFT as possible? Or, wait for the BO to close below the major channel? Or, wait for a surge in volume?

Thank you
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ramora,

I'm sorry that I'm not at a point skill-wise where I can clearly answer this for you. I'm working hard to learn how to trade these guys, especially on the 5 min ES.

Hopefully, Spyder, Jack, or someone furthur along than me will chime in here, as it would help me as well... :)

spooz
 
Did anyone get into NVEC today? Its MACD went positive today at 10:30 est with a cross over and divergence. Then at 2:30 est there was convergence where the red line went over the blue line, and the histogram went negative. At that point the stock price began to fall shortly, but then begining at around 3:00 est the price started to rise again with a negative reading on the MACD. All these figures were from a 30min time frame.

At 2:30 wouldn't that suggest a sell signal, but then it kept rising? Whats the deal with that? Am I missing something?

- Monk
 
Quote from Monkman:

Did anyone get into NVEC today? Its MACD went positive today at 10:30 est with a cross over and divergence. Then at 2:30 est there was convergence where the red line went over the blue line, and the histogram went negative. At that point the stock price began to fall shortly, but then begining at around 3:00 est the price started to rise again with a negative reading on the MACD. All these figures were from a 30min time frame.

At 2:30 wouldn't that suggest a sell signal, but then it kept rising? Whats the deal with that? Am I missing something?

- Monk
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I bought it yesterday when it signalled, and then it immediately went down. As it went down I recieved a buy signal from my second system, so I held the position into today. During the second major advance I noticed the price stalling and the volume drying up a bit. I sold 2/3 of my position there for a total gain of %2 (%4 on the day, however). At about 2:30 CST or so, it signalled FRV by my calculations, so I am currently holding the remaining shares.

I know some others in the chat room played it today too.

Thanks!

TNG
 
Quote from thenewguy:

At about 2:30 CST or so, it signalled FRV by my calculations, so I am currently holding the remaining shares.

TNG
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Hey TNG,

I'm curious if you are using the Equity 4.1 script to calc FRV or something custom? My FRV calc using the 4.1 script for NVEC was 731,355. My EOD chart vol for NVEC is ~100k below my FRV.

Semi-related, UV ended up being .73 for the day.

Thanks,

spooz
 
Quote from spooz_trader1:

Hey TNG,

I'm curious if you are using the Equity 4.1 script to calc FRV or something custom? My FRV calc using the 4.1 script for NVEC was 731,355. My EOD chart vol for NVEC is ~100k below my FRV.

Semi-related, UV ended up being .73 for the day.

Thanks,

spooz
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It's not something custom, but it's something that was used in the past. Unfortunately when I started using it I was a little new to the Wealth Lab site and I cut and paste the code into a new chartscript to obtain a copy of my own. In the process I lost the details of the version. The FRV on it today was about 540k or so, according to that script. Either that or i entered it wrong. Personally, I'm being more lenient with the DU and FRV numbers these days because of the strength of this market. Of course, I take a few more hits and gut-wrenching drawdowns because of that too. Send me a PM if you (or anyone else) wants me to send them the code. Alternatively, it was the script in use about a year or so ago, if that helps.

Thanks!

TNG

EDIT: Hershey Equities Rank v. 3.0.0 gives the same number I got, about 540k.
 
Quote from thenewguy:

I bought it yesterday when it signalled, and then it immediately went down. As it went down I recieved a buy signal from my second system, so I held the position into today. During the second major advance I noticed the price stalling and the volume drying up a bit. I sold 2/3 of my position there for a total gain of %2 (%4 on the day, however). At about 2:30 CST or so, it signalled FRV by my calculations, so I am currently holding the remaining shares.

I know some others in the chat room played it today too.

Thanks!

TNG
More...

Where is this chat room?
 
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