Spydertrader's Jack Hershey Equities Journal II

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Quote from rickylc:

cool!

looking good, i'm considering adding again on this little pull back from the high price of the day.
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Do you use any signals to tell you when to add more? I've been looking at stepping down to the 15 or 10 minute fractal and then using the same signals as on a daily timeframe to lighten up or add to my portfolio.

Initially I thought it would be a very good idea, but now that I've been monitoring this for a couple weeks, the signals seem to lag so far behind that I'm not so sure.
 
Quote from rickylc:

Thanks Spyder

what was that? the kiss of death? :D

looks like a good add/ entry point!
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$33.71 marks the weekly pivot point. Keep an eye on that number.

- Spydertrader
 
Quote from Spydertrader:

$33.71 marks the weekly pivot point. Keep an eye on that number.

At one point you listed the formulas for figuring the pivot points. Would you direct me to that post or re-post.
Thanks
Don
 
Quote from foible:

Do you use any signals to tell you when to add more? I've been looking at stepping down to the 15 or 10 minute fractal and then using the same signals as on a daily timeframe to lighten up or add to my portfolio.

Initially I thought it would be a very good idea, but now that I've been monitoring this for a couple weeks, the signals seem to lag so far behind that I'm not so sure.
More...

Sorry for taking so long to respond, I had missed your post. I look for vol to continue and the trade to be positive is all, really. It's a feel that is sometimes right, sometimes wrong.

I start with half normal position size, then add 1/4 or up to the full position as the trade moves along. I also look for the mid-day volume slump for price to deteriorate on lower vol as a good add point, or to enter a trade I may have missed earlier.

I wish I could give you an exact formulae, but I can't, at any rate, I try to keep my adjusted basis to a point that I would still consider as reasonable based on how the trade is moving.

I monitor the 5 min and 30 minute during the day, checking the daily before entering trades too. I go over all the dailies every night, drawing in channels, so i usually have a good handle on where the stock is.

I hope this is somewhat helpful.
 
Quote from Gandolph:

Quote from Spydertrader:

$33.71 marks the weekly pivot point. Keep an eye on that number.

At one point you listed the formulas for figuring the pivot points. Would you direct me to that post or re-post.
Thanks
Don
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The most important pivot is the mid-pivot or P. It's formula is (H + L + C)/3

This level is very relevant to actual supply and demand levels in the market for reasons I can't explain. The big surprise is that simple formula, more times than not, is very very close to the point of control, or volume weighted average, for the period considered. It is the price at which, when crossed, has the biggest impact on the sentiment of traders currently in positions.

I don't want to get off topic, so if you have more questions about this feel free to PM.
 
Quote from Gandolph:

At one point you listed the formulas for figuring the pivot points. Would you direct me to that post or re-post.
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I believe you can locate the post to which you refer by clicking here.

Quote from bundlemaker:

The most important pivot is the mid-pivot or P.
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IAWTP - Especially if it is a Weekly (P)

- Spydertrader
 
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