Spydertrader's Jack Hershey Equities Journal II

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I have seen several references to the Bruno R post in Journal II, but I can't seem to find the original post. Could someone please point me to a description of the Bruno R set up?
 
Quote from rb922579:

Unusual volume for TIE as of this posting is 0.51 Net change +$1.14 for today

So I sold TIE in Profit.

I was patient .. sold it very close to the high ..

Indicators still look strong. It has been doing nicely overall ..so this means ..how much longer can the party last.. time for a divorce..

Now ready to watch for the next train that will sooner or later be coming into the station.

Regards to all..

Ron
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I don't understand your selling decision for TIE today with a UV of 0.51 intraday. If indicators look good, and it's still in your channel (????), why sell? Is there a significance to 0.51 that I don't understand, or did greed take over?

jakeytrader
 
Still holding all shares of COGO through the weekend, and I have tightened up the stop significantly. I plan to wait until Monday to make a determination on holding or seelling. If I see improved volume (ona PRV basis) and improving price, I'll hold longer.

Enjoy the weekend everyone.

- Spydertrader
 
Quote from Spydertrader:

Still holding all shares of COGO through the weekend, and I have tightened up the stop significantly. I plan to wait until Monday to make a determination on holding or seelling. If I see improved volume (ona PRV basis) and improving price, I'll hold longer.

Enjoy the weekend everyone.

- Spydertrader
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What reward:risk ratio you going for on COGO?

It would be a pity to tighten the stop up too much only to see you potentially knocked out of a perfectly decent trade...
 
Quote from candletrader:

What reward:risk ratio you going for on COGO? It would be a pity to tighten the stop up too much only to see you potentially knocked out of a perfectly decent trade...
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The COGO trade started off with a 5:2 reward to Risk Ratio based on my entry price and target. Although I still feel COGO should continue to move higher (and possible even exceed the target price), I do have some concerns. Price moved back into the short term down channel and below the 20 SMA. However, since we did not have a Wide Range Bar (WRB) breach the 20 SMA, this pullback might only be temporary. The relatively lower volume levels experienced today do appear to confirm this hypothesis.

On the positive side, The Stochastic (5,2,3) continues to show improvement. Although it did close lower than its intra-day high on the daily chart, The Stochastic (5,2,3) continues to show upward divergence. In addition, the MACD Histogram remains glued to the zero line.

I really don't use stops as an exit. Rather, I use the stop offset as a sort of safety net against catastrophic failure or Black Swan type event. In other words, I should know on Monday (well in advance of price triggering the stop) if I made a good trade here. As long as price remains within the channel, or better yet, breaches the left trend line, I plan to stay in the trade.

- Spydertrader
 
OK...

I use targets and stops (which vary for a given stock, depending on volatility)... it keeps my emotions in check and keeps me sane and able to execute robotically :)

I do recall when we compared stats you had fewer losers than me, but our percentage returns were broadly similar...

I am still in COGO too, albeit not for Hershey reasons, but simply cos I spotted it pulling back the other day (by chance)...
 
Quote from candletrader:

I do recall when we compared stats you had fewer losers than me, but our percentage returns were broadly similar...
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Yes, I recall thinking back then how we each used a similar approach. Even with our slightly different entry and exit parameters, we arrived at very similar results. As you say, more than one way to skin a cat. :D

- Spydertrader
 
Quote from jakeyTrader:

I don't understand your selling decision for TIE today with a UV of 0.51 intraday. If indicators look good, and it's still in your channel (????), why sell? Is there a significance to 0.51 that I don't understand, or did greed take over?

jakeytrader
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Nothing really to analyze or understand ..

I merely did not want to leave anything to chance!!!.

With the Market in a Sea of Red condition Friday and not really wanting to hold any stocks over the weekend, I took my profit and Sold it !

Not a problem or a worry at all.. .. I can always buy it back on Monday!

Regards..
 
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