Spydertrader's Jack Hershey Equities Journal II

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Quote from cipherscribe:

Memories last week of BTUI hitting the upper IT trend on the same day as purchase, before coming back to earth over the next few days, creating a wash trade, still left a valuable lesson in my mind. Hence my early exit today.
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I got burned by that one too, and it prompted me to go back and review all of my trades and I realized that yeah, most of my trades were for just a few percent. I would like to try for larger moves, but there seems to be a good supply of low risk, dependable, bread-n-butter setups that occur that I want to master, first.

Hey, I'm a beginner. I think I'll make more money when I admit that and only progress when I have the skills.


That said, I'm surprised no one has mentioned TIE for today. It was in dryup and easily cleared FRV by the EOD. An amazing little trade, tossing a great bone to us beginners.
 
Quote from foible:

That said, I'm surprised no one has mentioned TIE for today. It was in dryup and easily cleared FRV by the EOD. An amazing little trade, tossing a great bone to us beginners.
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Very good point. I noticed TIE did progress nicely, only after EOD. Checking the numbers, it must have signalled an entry for me at around 10:10 AM, but clearly I was too wrapped up in ININ to notice. However I did not have it down as in DU. I had it in DU on Friday.

There were quite a few opportunities today. Lots of volatility in the FU.
 
Quote from gooch87:

Keep reading and you will smell the bitter stench of defeat on that trade.

:D
gooch87
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When you entered, I thought it was a good decision Gooch. Just one of those unlucky events that could not have been foreseen.
 
I entered TIE @ 27.13 on the 11th and planned to sell on the next open due to it not reaching FRV. When the next morning came along I noticed some strength and decided I would leave it on watching it closely. I liked how the daily started to look with stoch starting to interwine above the 80 mark and macd holding positive ground. As a few days passed it started inching its way to the $30ish support so I thought I'd let her make a run for it. I exited today @ 32.13. I realize that I did not follow the Hershey Methodology to its entirety but I did enter the trade according to Hershey protocol so I thought I would share my results. I had a similar trade in FTEK that I entered on the 6th which I closed out yesterday for about a 19% gain. Good trading to you.

dan
 
Quote from dannyk:

I realize that I did not follow the Hershey Methodology to its entirety but I did enter the trade according to Hershey protocol so I thought I would share my results.
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Actually, you followed the Hershey methodology perfectly. You just didn't follow the beginner methods beyond your entry. Nicely done, and a fine example of how the overall methods are supposed to work.

- Spydertrader
 
Quote from cipherscribe:

When you entered, I thought it was a good decision Gooch. Just one of those unlucky events that could not have been foreseen.
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I should have done a MOC order instead of holding overnight. Woulda, coulda, shoulda.:D
 
Quote from gooch87:

I should have done a MOC order instead of holding overnight. Woulda, coulda, shoulda.:D
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Really? Do you not normally hold positions overnight? Or did you have a feeling about holding this one?
 
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