That's beautiful, Mikey.
Spydertrader's Jack Hershey Equities Journal II
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That's beautiful, Mikey.
Great examples.
It is like skiing, as well. Don't just look at your ski tips all of the time. The terrain out ahead is where to look to anticipate your turn.
As you handle a steep run, don't worry about chatter as you unweight your skiis, just keep looking ahead at the mark and PUSH that lower ski when you finally get there as you look ahead way on down after you move back into the fall line.
If you come on out onto the flats, just be smooth and run, you can snap off a check turn in a sec.
If you hit moguls (stall, hitch, dip, HVS (wiggle, wiggle wiggle), make each one count to either keep you in the air or just run the downsides, there is plenty of time if you are looking ahead, just stay up out of the slow snow; its no fun at all.
Spyder's look ahead is the nuts. When you get closer you are prepared and still looking further ahead.
Not a, not b, but out ahead. A and b only there as you get to these after its all taken into your mind. When a and b are out ahead of you still, you are looking out there and you have all in hand and go automatic as you ski over a and b.
Take each letter of that word in ( ) and make snowballs out of each letter.
Hey Spydertrader, much respect and recognition for your contributions here as well as all the others participating!
I just stumbled onto some JH and your stuff last Friday and reading up all I can - his equities method seems pretty intuitive since I'm familiar w/ IBD approach. Whew, lot's of material to cover in your journals. Camtasia files were very helpful. A million questions right now...
I'm soaking up all I can (to the detriment of my score on a final exam this morning), but I wish I had someone feeding me this stuff in the right order. RS, EPS, Rockets, FTTs, FBOs, Channels, daily routines, Hot Lists, DU, FRV, PRV, it's all blurring together, and I'm just not sure how to start without getting ahead of myself.
Would you recommend starting by hand with all this, or just use your Wealth-Lab script and scans? (which I noticed were updated since last post in Journal 1. Best to use most current versions?)
I'm attaching yesterday's CHDX chart on which I based on a long entry this morning (just trying to focus on EOD equities right now). Down almost 3% on it just today. Any feedback on my decision/annotations would be greatly appreciated (pardon my low tech ways - any good free charting software out there that allows for some white space at the right edge for extending channels?). I know, low ave volume...I'm not very disciplined and a bit overanxious to make a trade under this system. Should I stick firmly to all prerequisites while learning? How many trades per week should I expect, if so. Have you determined any overall market influences on this method?
Allright, think I used up my 20 Qs. Thanks again for all the hard work people have put into making this a very educational space!
-b
I just stumbled onto some JH and your stuff last Friday and reading up all I can - his equities method seems pretty intuitive since I'm familiar w/ IBD approach. Whew, lot's of material to cover in your journals. Camtasia files were very helpful. A million questions right now...
I'm soaking up all I can (to the detriment of my score on a final exam this morning), but I wish I had someone feeding me this stuff in the right order. RS, EPS, Rockets, FTTs, FBOs, Channels, daily routines, Hot Lists, DU, FRV, PRV, it's all blurring together, and I'm just not sure how to start without getting ahead of myself.
Would you recommend starting by hand with all this, or just use your Wealth-Lab script and scans? (which I noticed were updated since last post in Journal 1. Best to use most current versions?)
I'm attaching yesterday's CHDX chart on which I based on a long entry this morning (just trying to focus on EOD equities right now). Down almost 3% on it just today. Any feedback on my decision/annotations would be greatly appreciated (pardon my low tech ways - any good free charting software out there that allows for some white space at the right edge for extending channels?). I know, low ave volume...I'm not very disciplined and a bit overanxious to make a trade under this system. Should I stick firmly to all prerequisites while learning? How many trades per week should I expect, if so. Have you determined any overall market influences on this method?
Allright, think I used up my 20 Qs. Thanks again for all the hard work people have put into making this a very educational space!
-b
Gooch87,
I noticed in your daily chart below, that the narrower and steeper red downtrend channel does not really connect the candlesticks properly (be it connecting candlestick tails or candlesticks close). Is it because you drew the channels on the 30 minute chart and when you flip over to the daily chart, the channel won't look that properly? (this is also noticed in some of your other charts).
I asked this because I do have this problem and was wondering whether anybody face this problem. Thanks
I noticed in your daily chart below, that the narrower and steeper red downtrend channel does not really connect the candlesticks properly (be it connecting candlestick tails or candlesticks close). Is it because you drew the channels on the 30 minute chart and when you flip over to the daily chart, the channel won't look that properly? (this is also noticed in some of your other charts).
I asked this because I do have this problem and was wondering whether anybody face this problem. Thanks
I have been following the daily ES charts with interest and I just starting checking out the daily chat.
Although I will not be trading the futures for awhile, I would like to chart drawing channels live, and just watching the ES to see what you all are talking about.
Problem is, I don't know what the symbols are to get live feeds for the ES and the cash index.
Can you help me out? I use QuoteTracker and have feeds from MB trading and Scottrade.
What are the ES mini symbols you use, and how can I view the intraday charts? Do I just type them in like stock symbols?
Thanks!
Although I will not be trading the futures for awhile, I would like to chart drawing channels live, and just watching the ES to see what you all are talking about.
Problem is, I don't know what the symbols are to get live feeds for the ES and the cash index.
Can you help me out? I use QuoteTracker and have feeds from MB trading and Scottrade.
What are the ES mini symbols you use, and how can I view the intraday charts? Do I just type them in like stock symbols?
Thanks!
I recommend continuing to read through the Journals - one step at a time. Take the necessary time now to build a strong foundation for the future. No matter your current level of anticipation, do NOT begin to trade live until you have a complete understanding of the methodology. Read through both journals, and take good notes as you go. Again, many of the contributors to these pages can attest to the wealth of knowledge gained by doing so.
Step One: Learn to have discipline when it comes to your trading. If you have a rule set, follow it. Discipline to learn from the information presented. Discipline to follow your trading plan. Discipline with proper money management. Discipline with risk assessment. Starting to see a pattern here?
I see no problems with your annotations. However, if you plan to start at the beginning, then I recommend using only stocks which cycle (a minimum of five times in six months for 20% gains across 6 to 8 days).
You should expect to lose money at first. The main reason you should have this expectation stems from your lack of discipline. With all due respect, you do not even know what you do not know at present. The time to trade arrives much later. Now is the time to learn. In short, one must learn to crawl before attempting to walk, run or fly. Of course, your mileage may vary.
Good Journey to you.
- Spydertrader
Hi billp
That is .22 on the Unusual Volume indicator in Q-Charts
I am starting small and gradually working my way up. The market will still be there when I am ready to extract larger gains.
I have the same problem as you, but I am not too concerned about it. I draw the channels exactly, then the software works em over when you flip between timeframes. I gave up making them exact.
I hope this helps and good trading to you
gooch87
That is .22 on the Unusual Volume indicator in Q-Charts
I am starting small and gradually working my way up. The market will still be there when I am ready to extract larger gains.
I have the same problem as you, but I am not too concerned about it. I draw the channels exactly, then the software works em over when you flip between timeframes. I gave up making them exact.
I hope this helps and good trading to you
gooch87
I sim-traded the Nikkei (SSIH7) today and took out 80% of the day's range using the FTT method (using IB's simulator). This included 2 wash trades (which covered the commissions). I've got the chart and prints if anyone is interested.
It would have been over 100% but I was late back after the morning break, so I missed a bracket entry which I'd normally set up.
I only wish I was using the live account today.
By the Nikkei's standards it was a flat day (110 point range, 0.65%).
Why post this in an equities log? I hope you can all see the relevance. I'm looking forward to your futures journal in the new year Spydertrader.
Ah-Ha!
It would have been over 100% but I was late back after the morning break, so I missed a bracket entry which I'd normally set up.
I only wish I was using the live account today.
By the Nikkei's standards it was a flat day (110 point range, 0.65%).
Why post this in an equities log? I hope you can all see the relevance. I'm looking forward to your futures journal in the new year Spydertrader.
Ah-Ha!
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