Spydertrader's Jack Hershey Equities Journal II
- Thread starter Spydertrader
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During the first two weeks of Journal One, the system provided no tradeable signals. Imagine, starting a new journal and not having a single trade to show for it.
The advice I received then still rings true even today: remain patient. In addition, you can also practice learning to short. cnms2 certainly has the shorting aspect down cold.- Spydertrader
Wow, this really is exciting. I can't wait to hear more about this, as I just started papertrading the ES but hadn't thought to apply any of Jack Hershey's methods from these journals.
Foible, I know where you are coming from regarding the lack of signals. I just started trading this system on 5/9 which I believe coincided with a reversal in market direction. In the past month I've only received two signals, but both of them were profitable. So, like you, I'm re-reading the material to learn more about the Brunos, Rockets, Channels, and other more advanced concepts.
You just developed your very own, "Teach Myself Hershey Futures" strategy. I encourage you to learn these concepts extremely well. Everything we see in equities occurs in futures - only faster and with greater frequency. If you can nail these concepts with equities so that they become 'second nature' to you, your futures learning curve will shorten dramatically. However, I do not recommend making the jump to futures until you have taken the time to learn everything possible with Equities. It is the experience you gain from Equities which allows the easy transition to Futures. Without that experience, the transition becomes much more difficult.
- Spydertrader
I was at the Tucson meeting as well. As you say, the meeting was very inspirational. I also enjoyed the time you spent with a group of us after the meeting. I am looking forward to your new posts as well as continuing to study the material in I and II. Thanks for all your efforts.
Don
Don
If possible, I hope to time my return visit to Tucson to coincide with another of your IBD meetings. Hopefully, the simple logic I shared with the everyone after Jack's Discussion will prove useful to those who test it. (I'll have a chartscript up within a week for those who couldn't make it to Tucson). Jack's discussion regarding the indicator sequences provided a great deal of insight into how one can recognize buy, hold and sell signals when using the Hershey Equities System. In addition, Jack made another Camtasia Video recording of the discussion (available at a future date) for those unable to attend last Thursday's Meeting.
Good Trading to you.
- Spydertrader
Whoa. No stocks from my final universe are in dry-up. And only CNTF is on a "Bruno R" buy.
Plus, don't forget to look for unusual volume activity on the final universe stocks. I'm not trading this yet, but there seem to be opportunities here, just about every day.
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