Spydertrader's Jack Hershey Equities Journal II

Status
Not open for further replies.
Quote from gerry875:

your "pt. 2/pt. 3"-thing is a simple u-turn formation - or as i like to call it "higher bottom bull flag" - nothing special - and to recognize/trade it, a pure bar chart without those lines is more than enough.
More...

It's not my thing. I just follow the rules as laid out to me.

Quote from gerry875:

one thing: don't you have to wait for pt. 3 to enter? pt. 3 happened after 9:55 - you write on the chart about an entry at 9:44??
More...

A typo. I corrected the typo on my chart annotation, but neglected to redo the screen shot. I apologize for any confusion. The entry occurred on the break of the non-dominant traverse. At that time, Point Three had formed, and price began to head higher.

Quote from gerry875:

and what about the exit (pink arrow that points to the 10:10 bar) at 9:58?
More...

The exit occurred on the previous bar. I didn't want to 'overwrite' the price bars with the arrows from the screen capture program.

My intent of posting the chart was to show how rockets occur both in Equities and Futures, and more importantly, one can 'see' the rockets develop in real-time.

- Spydertrader
 
Quote from Spydertrader:

It's not my thing. I just follow the rules as laid out to me.



A typo. I corrected the typo on my chart annotation, but neglected to redo the screen shot. I apologize for any confusion. The entry occurred on the break of the non-dominant traverse. At that time, Point Three had formed, and price began to head higher.



The exit occurred on the previous bar. I didn't want to 'overwrite' the price bars with the arrows from the screen capture program.

My intent of posting the chart was to show how rockets occur both in Equities and Futures, and more importantly, one can 'see' the rockets develop in real-time.

- Spydertrader
More...

breakout entries are a dangerous thing when trading futures - but anyway...

would you post the exact entry and exit times for that one trade? thanks.
 
Although the market continues to gain altitude quickly, I did take a short in SLXP. Unusual volume is just on the ok side for me. .5UV at midday. See how it turns out given the adverse market conditions for shorts.

First Day 2% stop would be around 13.90.
 
Spydertrader & others,

I've been trying to take some trades in the Bruno-R setups using small size to get the feel of things. I've been looking for a time when the stock looks to break out of its channel, and the 30 minute chart has the stochastics > 80 and MACD > 0.

It hasn't always been very kind to me. I'm wondering if my stop is too tight, my entry too agressive, if I'm not properly taking into account volume, or if I'm not cautious enough around the channel points, or maybe some other issue that I haven't thought of.


Today, for example, I took four positions (and already I wonder if this is my problem - a lack of discrimination). I went long in SLW shortly after open when it broke 9.25, but I got stopped out for a 2% loss. This one is really irksome since the 30 minute channel is tight and clean and it just looks like I picked a terrible entry.

I went long on TXCO when it broke its month-long downtrend, but again got stopped out for a 2% loss. And yet again, it offered a great point to buy later in the day. (This was in dryup so I'm thinking I should have waited for volume to come in.)

I also tried EZPW when it broke 39, but got stopped out. Here too, volume was very light.

And finally, I went long on ALJ. It had good volume, was breaking out of its short term trend, and I closed the day up 5%.


I'm thinking that I was in too many positions and should have stayed away from EZPW and TXCO because the volume was so light. Beyond that, do you have any comments on ALJ or SLW? Did anyone else take them, or would they have? Would you widen the stops, pick better entries, or just accept getting stopped out?

Sorry for the newbie questions. Maybe this style is above my level, but I'm doing my best to wrap my head around it.

Thanks.
 
a pretty low risk trade would be to watch (on the daily chart) for the simultaneous or near simultaneous occurence of the MACD flipping positive from negative and the Slow stochastic fast line crossing the 80 line and the fast stochastic fast line crossing the 50+. Throw in a volume level below FRV (so that it's in accumulation phase but not becoming too robust yet) ....

that'll set you up in a pretty good entry. why? because the indicators are saying, "all signs point north"...and the volume is saying, "we have a full tank of gas to get there."


as spyder says, your mileage may vary.


just thought i'd point this out.
 
Status
Not open for further replies.
Back
Top