Spydertrader's Jack Hershey Equities Journal II

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Quote from mischief:

Spyder, I assume that for entry you are looking for:

i) Price improvement
ii) Dry Up exceeded, and
iii) MACD improvement?

This appears to me to be the entry criteria from the Bruno_r post.
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A slight difference exists between the criteria you listed above, and the set up I look for. In addition to the three listed in your post, I like to see a stochastic set up as well. Notice the stochastics on the FMD chart posted above. I prefer to see a cross below the 30 line (or near the 30 line if looking for continuation), as well as, improved volume. Exceeding DU volume helps, but the rate of volume increase proves far more important. Often it helps to look for stocks the night before that recently had the Stochastics (5,2,3) drop below the 30 line and show signs of coming off the bottom. An uptrending chart with a recent price pullback also improves the odds of success.

I hope that helps clarify things.

- Spydertrader
 
I was thinking more intraday and was referring to:

"As the market opens, there are many choices of what to do so things can
vary. If you can not monitor the market that is okay. There is a plan for
people who work during the day. If you are able to monitor, use a5 min bar
fractal and watch for the following to occur in a nice degree of detail:
The price will idle along and the volume will be light then begin to
accumulate. The MACD will remain on neutral. As volume accumululates on
your quote sheet and the chart displaying price, volume and the MACD, you
will notice it approach the DU value before 11:00. This means the volume
will be rising well above the DU by the end of the day. About this time the
MACD will breakout upward (BO up) and the price will begin to move up
somewhat (this is the cause of the MACD changing).

You can now buy when this happens. FNIS did this today at 12:00 NYSE time."
 
Quote from mischief:

I was thinking more intraday and was referring to:
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I apologize for misunderstanding your question. With respect to intraday monitoring, I use an 11:30 AM Eastern Time cut off, rather than, 11:00 AM as described above.

- Spydertrader
 
I purchased 200 shares of NDAQ this morning at the bottom of the short term channel. See attached.

- Spydertrader

Edit: I received a fill price of $39.50

<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1030184>
 

Attachments

Now that you have perfected the entry criteria, you should look at trading this on a different list of stocks. If you try and use a different trading universe to trade on probably the results would improve further.
 
Quote from Spydertrader:

I purchased 200 shares of NDAQ this morning at the bottom of the short term channel. See attached.

- Spydertrader

Edit: I received a fill price of $39.50
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i got in the NDAQ trade (between 10-10.30) at 39.96...however when the volume wasn't kicking in (by 11am) i sold out for a .3% loss.

what's nice to see is even if i didn't get out (there wasn't a pressing need to, given the overall low volume of the descent), my stop offset would have kept me in nicely. (mine was offset $1 from the right trend line).
 
Very interesting journals. I have been reading through them and they contain great information. If this question has been asked I appologize for the repetition, but I was curious if anyone has created an indicator set using this methodology on tradestations radarscreen?
 
Quote from jonnyy40:

Good stocks are the whole basis of the thing.
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That is why experimenting with the list will improve results. Because there are only two major things to this system: entry criteria ( which have been microscopically fine tuned using different indicators) and the database
A database with even more momentum characteristics would improve the results further.
 
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