Spydertrader's Jack Hershey Equities Journal II

[Spydertrader]

Quote from foible:

Did you take any action on it?

I spent most of the day trading the ES (and wasting time in the ET Chatroom - but that is another story). Although not quite to SCT levels just yet, the ES trading went very well. Below, I have posted the signals received today for Equities. I only papertraded these signals while focusing on the ES today.

- Spydertrader

<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1196506>

 

[tradingbug]

I know I posted an earlier version of the PRV sheet with my full Universe. The one posted seemed to work last night but when running it in real time today, it did not cooperate. The data for Qlink snapshot seems to be pulling the intraday vol data of another stock in the excel sheet and placing it in the inappropriate rows. I am trying to make a PRV sheet for equities that would have a shorter Vol MA than the 65 defualt of Qcharts.

If nobody can find the problem or its a QLink problem, I also have access to Esignal and WL.

Does Anybody who has experience in using the Esig or WL know if this is an easy/plausible thing to code and have suggestions?

Thanks.

 

[Spydertrader]

Previously posted signals updated below. Note the change in NEU from earlier in the day. 'Total' equals dollars per share traded.

- Spydertrader

<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1196613>

 

[rcar1046]

Quote from Spydertrader:

Below, I have posted the signals received today for Equities. I only papertraded these signals while focusing on the ES today.

Would it be correct to assume these signals are taken while monitoring on a 5 minute chart but based on indicators from a daily chart?

 

[Spydertrader]

Quote from rcar1046:

Would it be correct to assume these signals are taken while monitoring a 5 minute chart?

Yes, these signals occurred while monitoring a five minute time frame.

- Spydertrader

 

[stevegee58]

LOL, I just happened to be long FSL from a MOT spin-off (employee stock purchase plan) Unbelievably it gapped up almost 20% this morning, so I got the hell out with an fantastic wind fall. There were rumors of a take-over of some sort.

Off-topic as far as Hershey stocks are concerned, but fun anyway.

 

[Spydertrader]

Quote from stevegee58:

Unbelievably it gapped up almost 20% this morning, so I got the hell out with an fantastic wind fall. Off-topic as far as Hershey stocks are concerned, but fun anyway.

Nice trade.

- Spydertrader

 

[foible]

Quote from Spydertrader:

Yes, these signals occurred while monitoring a five minute time frame.

What motivated you to drop down this far? Do you have any criteria (e.g.: avg daily volume) which helps you decide what time frame is most appropriate?

When I look at the charts for GROW, esp early in the day when you said you had a signal, I see nothing but noise


BTW: whatever you're using, it looks like it's working for you. Some nice trades, there. Are you planning on automating the hershey stuff fully so you can focus on the futures?

 

[Spydertrader]

Quote from foible:

What motivated you to drop down this far? Do you have any criteria (e.g.: avg daily volume) which helps you decide what time frame is most appropriate?

Everything begins with the daily chart. Take a look at GROW and what do you first notice? Huge Volume. Peak Volume levels even. What normally happens at Peak Volume? Price often heads lower. I use the five minute time frame in order to search for these 'rockets' - which 'blast off' in both directions. GROW already had momentum from the day before, and continued to have downward momentum at the open (See Attached 5 minute chart).

<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1196713>

Quote from foible:

When I look at the charts for GROW, esp early in the day when you said you had a signal, I see nothing but noise

Notice the diverging MACD lines. Notice also the downward slopping and diverging Stochastics lines on the above chart. Once we had price below the previous day close, and volume above threshold, we can anticipate continued movement in the direction of the trade. Some short covering occurred later on in the morning causing some concern, but no more than would be expected after price had moved so far.

Quote from foible:

BTW: whatever you're using, it looks like it's working for you. Some nice trades, there. Are you planning on automating the hershey stuff fully so you can focus on the futures?

A number of individuals who post to the Journals have already automated various iterations of the Hershey Equities Method. Their success motivated me to head down that very same road. Now that I spend a great deal of time studying the intra-day movement of the futures markets, the benefits of automation interest me even more.

- Spydertrader

 

[RXT]

Ok Spydertrader, I hope you can help me out with these indicators because I'm still not 100% sure how to interpret them.

MACD:
You circled the MACD at the opening. What can I read there, or what's different here compared to other areas throughout the day?

Stochastic:
Ok we have the K line drop below the D line and then start moving up again. But especially on the 5 minute chart, this happens quite often.
How can I see this as a signal that the stock will continue to go down during the day? Just because it happens at the opening?

Money flow:
Ok, we see the index peak right at the opening, but what does this tell us about price movement throughout the day.

If I would have entered short right in the morning when your system triggered, I would have been VERY concerned once price started to increase again and until 10:20 or probably even 11:05 I would have interpreted the stock to be in an uptrend as it made a higher high and a higher low and only failed to do so past 11.

I would really be interested to here your comment about interpreting the indicators as I still have a problem to see the whole picture, based on the information I have available in the morning.

In your system, do you have your signals generated on indicators of the 5 minute chart or some higher time frame.
Personally I like to watch stocks on the 5 min. timeframe as it helps me to get a feeling for the stock movement and to see the channels, but I don't yet feel comfortable to predict the price movement throughout the day just based on the data, I have in the morning.

Any information from your side, would be greatly appreciated.
Thanks a lot for your two great journals.