Spydertrader's Jack Hershey Equities Journal II
- Thread starter Spydertrader
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For everyone using channels: When do u generally use the daily channel and when do u use the 30min channel for entry. For example, say the stock is lined up nicely on the daily channel but not so good in the 30min, and vise versa. What do u do in these situations? Im sure over time these things will come naturally, so I'm just hoping for some guidance so I can get an idea of where to look.
I always enter on the lower fractal (sometimes even dropping down to a five minute chart). We trade on a daily time frame, but use lower time frames for entry and exit. One also needs to remain cautious when dropping down to the lower fractals. It's easy to get shaken out. I fell into this trap many times in Journal One.
Jack recommends drawing channels on the weekly, daily and 30min fractals. With Qcharts, all the various channel lines remain in place even when moving to different fractals.
- Spydertrader
Notice the differences between the yellow highlighted areas and the late day weakness. To everyone who jumped aboard this fast moving train, nicely done.
- Spydertrader
<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1173979>
- Spydertrader
<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1173979>
I finally broke down and paid Jerry Medved for 1 year of QuoteTracker. It's a really nice tool and I've been using it with ads for years now. One thing I'm looking forward to is opening up the streaming/trading API feature. Having the ads disappear was nice too.
Every now and then you run into something on the net that's actually worth buying. This is one of them.
Every now and then you run into something on the net that's actually worth buying. This is one of them.
NEU was a pretty classic CANSLIM pick as well. It emerged from a cup w/handle. It is nice to see how the Hershey method and CANSLIM can complement each other.
Jack said somewhere that the Hershey method usually catches CANSLIM stocks at the bottom of the cups and at the pivot point.
As nice as the automation is, for me sometimes it is best to really spend some time with the charts.
Cheers,
john
Jack said somewhere that the Hershey method usually catches CANSLIM stocks at the bottom of the cups and at the pivot point.
As nice as the automation is, for me sometimes it is best to really spend some time with the charts.
Cheers,
john
Excellent advice. Spending time with the charts provides benefits far in excess of any automation.
- Spydertrader
I am interested in plotting the First and second dirivitives on my charts in Quote Tracker as described here in Journal Two by dougcs:
http://www.elitetrader.com/vb/showthread.php?s=&postid=970386&highlight=derivitive#post970386
If anyone has setup these derivitives in Quote Tracker I would really appreciate some instructions.
Also, I have read everything I can in Journal Two about using these derivitive indicators, but I would enjoy to hear how everyone is currently using them. Any new insights?
(As always, thanks for this great journal! It is a true joy to be able to "see" into these stock moves with some confidence.)
http://www.elitetrader.com/vb/showthread.php?s=&postid=970386&highlight=derivitive#post970386
If anyone has setup these derivitives in Quote Tracker I would really appreciate some instructions.
Also, I have read everything I can in Journal Two about using these derivitive indicators, but I would enjoy to hear how everyone is currently using them. Any new insights?
(As always, thanks for this great journal! It is a true joy to be able to "see" into these stock moves with some confidence.)
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