Spydertrader's Jack Hershey Equities Journal II

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Aaah no, Jonny40. If you can not only be as successful in using Hershey's methods as SpyderTrader, contribute all of your learning freely and patiently answer every question that comes up, no matter how many times you have answered it before, then I am sure that everyone, including Spyder would welcome your contributions. Until then, I suggest you contribute before knocking others.


Scribe, The auto-trading has been fine. I've been doing a mix of real and IB Papertrading for about 3 months now and haven't had any execution problems. The only problems I have had are due to user error, either I have coded incorrectly or forgot to turn the auto-trader on (I have coded it so I have to manually turn it on). The auto results probably aren't quite as good as a skilled manual operator, but they also stop me 'interpreting' the rules to my own detriment.
 
Hi Mischief and Cipherscribe,

I am also located in Australia.

I did some investigation regarding implementing Jacks equities method in Australia and came to the same conclusion as Mischief.

The commissions are a real killer and the lack of quality candidates and liquidity make it tough to come up with enough stocks to create a viable universe strictly using Jacks criteria.

Screening by fundamentals is also a big challenge. I was able to get some access to institutional platforms but found that the functionality was severely lacking. Huntley's have some database stuff that costs several thousand bucks per annum to use. I played around with it and found that it was not anywhere near the quality of US IBD and stocktables.com counterparts in terms of stock comparisons based on RS and EPS.

I do, however, think it is possible to come up with a trading methodology using the PV relationship and sector rotation. Most of the suitable trading candidates are in the metals and energy complexes. OXR, LHG, BHP and ZFX are the candidates that come to mind and possibly some other stocks confined to the ASX 200.

There is some hope on the commissions front. Def, from Interactive brokers, has mentioned that Australia will be added to the range of worldwide stocks offered. He hasn't given a timeframe, however.

Japan, Singapore and Hong Kong (and possibly Europe) are other markets that are compatible with the Australian timeframe. It would be neat to be able to put a cross market universe together if data access and commission rates become more competitive somewhere down the track. This is what I am hoping will be on the cards some time in the foreseeable future.
 
Thanks for linking those videos spyder, i had been waiting for those.

I did not GET how indicators helped with this stuff, but now (at least in part) i believe i do. I will have to make more passes over the videos.

here's what i've come up with for a GO/NO GO/GET OUT decision line. any comments?

my own learning process is severely tied to visually seeing someone else go through the process...so this is a HUGE helper outer.
the written word doesn't really get the transference job done for me.

edit: forgot to write in "FRV not met" as a flaw...
 

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I was sort of agreeing with broc but you'll make more money holding for the 5 day rocket with a larger but still safe no. of shares imo.Do both if you've got the resources.Then tell me how to trade futures (50 times faster).
 
I added a slight varition to my last post in the attached results graph.

Series 4 (Lt Blue ) shows the results of DULow before 10:30 and
FRV before 1600 ( ie. end of day ).

Series 5 ( brown ) shows the results of DULow before 10:30 AND
DUAVG BEFORE 1130. The trade was entered when all of the hershey TA criteria was fulfilled and DULow was exceeded before
10:30. Trade was exited at 1130 if DUAvg was not exceeded. The
remaining exit rules are based on what is posted in this forum.

What is interesting is the results of this modification. In my mind anything that keeps you out of the market without jepordizing the trade or in this case improves the results is a good thing.

As time permits I will try to incorporate exiting at open and sharing the results with you.
 

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Quote from 8833broc:

I added a slight varition to my last post in the attached results graph.
More...

In your first set of results, you used the blue line to indicate profits based on the dual criteria of 10:30 AM LBDU and 11:30 AM AvgDU. Just to clarify, you appear to have switched colors (now using brown for the same criteria) in your more recent results posted above. Did I interpret the color switch correctly, or does the brown colored line indicate exiting the following day at open?

- Spydertrader
 
Jack or spyder,

I have a few questions on the initial assessment sheet. (IAS).

questions are in the picture.

I read through the new 'building minds' doc. but i'm a bit confused, or i confused myself on these items.

thanks.
 

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On the W-L site there are 3 Hershey Equities Score Scans, Ver's. 1.0.0, 1.0.1 & 3.0.0

Each ver returns different "Scores" for the same watch list of stocks.

Which version is the correct one to be using? Question really applies to all of the different versions of the various Chartscripts listed. Should I just be using the latest version of each Chartscript?

Thanks.
 
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