Spydertrader's Jack Hershey Equities Journal II

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Quote from cnms2:

This comment is not necessarily intended for AlpineTrout, it is the result of browsing through several similar posts recently.

I read more and more often posts from people who ask (polite or not) to be taught by others various trading aspects. When somebody tries to do so, those people ask for a lot of proof and results, and / or start arguing about what they're told. Some of them are asking the others to use their time in explaining before they'll put any time in learning. Even worse, some people (see Johnny...) state that they'll not share their "secrets" but ask for help from the others (!?).

It feels like a lot of kids / brats invaded these forums.

Like most things in life worth getting, becoming a successful trader requires a lot of learning, trial and error, keeping an open mind, doing your diligence, and ... humility.

Patience.

It is human nature to be skeptical of what one has not experienced first hand. This is why Jack talks about "religious experiences".

It is a good thing for skeptics to challenge thought. It only accelerates the process of iterative refinement.

Best Regards
Oddi
 
CTHR triggered a volume alert for crossing LBDU around 11:00am. MACD and Stoch look good. One large print (2,900) which went of at 9:30 and was, I think, on the opening (I can't see exchanges on my historical T&S).

Volume has dropped off precipitously, so I'm holding off on this trade until I can see some sign that it will pick up. At the rate it has been going, it will never hit FRV by the end of day.

<img src="http://www.elitetrader.com/vb/attachment.php?s=&postid=1079574"/>
 

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Oddiduro:

Thanks for your reply. Along the lines of what I'm looking for, just enough time.

cnms2:

Well, I'm probably not one of the kids you're referring to (although it does seem like recently sometimes). I was trading trends back when International Game Technology and U.S. Surgical were in the limelight and Accutrade was the discount broker of the day (remember them?, $35 trades).

Being able to learn from a Master in any profession that you choose to get into is great, but can be very different in trading as opposed to other professions. A few simple examples:

ART: Simply look at a collection of his paintings or sculptures. Are they fantastic? Yes, I think I'll study his methods.

Architecture: These are pictures of stuctures that I have designed across the country. Yes, I would like to be employed by your company so that I can perfect my skills.

Martial Arts: These are the trophies I have won in competition as a black belt. Yes, I would like to study martial arts under your guidance.

My point is, whether a person charges for his knowledge or not, it's paramount for a student to at least have a sense of the professional's qualification to teach. If not, what's the point in wasting time.

Thanks all. I going flyfishing down a beautiful river, and I'm staying short.

Good trading.
 
I entered into a small long position with COGO this morning when actual volume exceeded calculated LBDU. Unfortunately, COGO turned out to be another FBO. As a result, I exited when price went negative on the day (Ross' Rule) for a loss of -$110.00 USD.

- Spydertrader

<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1079589>
 

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Hi Spyder,

just wondering, did you re-enter COGO in the afternoon on strength?

Didn't have it in my Final Universe, so wasn't watching it til you posted your exit. Got quite volatile near the close... :eek:

Took a long position (simulated) in CTHR - 100 @ 11.72 at 15:55 PM - Vol > UBDU
 

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Quote from gpzany:

just wondering, did you re-enter COGO in the afternoon on strength?

Nope. I shut down the whole system around 1:30 PM this afternoon and left the house to enjoy an afternoon with my nephew. The weather finally broke here - after 14 straight days of rain. As a result, I used the morning loss as an excuse to get out and soak up some much needed sun.

Quote from gpzany:

Took a long position (simulated) in CTHR - 100 @ 11.72 at 15:55 PM - Vol > UBDU

Looks good so far. I hope price continues to move in your favor.

- Spydertrader
 
Quote from gpzany:

Took a long position (simulated) in CTHR - 100 @ 11.72 at 15:55 PM - Vol > UBDU

I also took CTHR today at 10:01 @ 11.35 but sold it at 14:36 @ 11.73 when I realized it wouldn't reach FRV today.
 
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