Nothing like selling the day before the launch .... 
<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1249493>
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Spydertrader's Jack Hershey Equities Journal II
- Thread starter Spydertrader
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Quote from chapper:
wow spyder, that exit on COGO was one day too early... too bad our methodology doesn't predict partnerships with MicrosoftI hope some of you guys got in on this.
I must have picked up a copy of The day after Tomorrow's Newspaper, Today by mistake.
I'm betting candletrader still held his shares. Congrats to anybody else that caught this train as well.- Spydertrader
Quote from Spydertrader:
Nothing like selling the day before the launch ....
<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1249493>
Spydertrader,
I find that the charts you post are very helpful in learning how to draw trendlines. With regard to the cogo chart what are the numbers R10 R20 etc related to?
Thanks
NH
The horizontal lines on the COGO chart refer to intra-day pivot points and support / resistance levels (R for resistance, S for support, P for Pivot Point). Qcharts automatically adds these lines to my intra-day charts.
- Spydertrader
Hi SpyderTrader & Friends (the best Posting Group @ ET !)
Sorry to see you didn't catch the "Up Wave" today on COGO Spyder but given the technicals before today it was certainly understandable.
I tried myself to grab some today but failed - after the initial surge - @ 16.50 (penny wise & pound foolish as it reaction traded down to 16.45-16.50 area).
In case you missed today's news that no doubt moved COGO - it jusy signed a deal with MSFT.
Good Trading - Good Health & God Bless
cowpok1027
Sorry to see you didn't catch the "Up Wave" today on COGO Spyder but given the technicals before today it was certainly understandable.
I tried myself to grab some today but failed - after the initial surge - @ 16.50 (penny wise & pound foolish as it reaction traded down to 16.45-16.50 area).
In case you missed today's news that no doubt moved COGO - it jusy signed a deal with MSFT.
Good Trading - Good Health & God Bless
cowpok1027
Hey Spydertrader et al.,
I've been reviewing the transcripts for the IBD meetups and rereading "Building Minds for Building Wealth" and trying to make sense of what Jack is saying.
From what I can tell, the theory is that as stocks move down through their channel and touch the right channel line, volume will dry up. Before price starts to move up again, we are alerted by an increase in volume, the fast stochastic moving up through 50 and MACD diverging.
Is that about right?
In practice, I have found that these three things rarely occur in this neat package. The dry up signal is amazing. I've been basically day trading this for a month and the results are impressive. Unfortunately I don't mean to day trade them, it just seems that the price and volume action rarely seem to justify holding much longer than one night. Some of these trades have yielded 5-8% winners, even though they last only one day. There's still a lot to learn, but these trades have been paying my "tuition" and basic living expenses.
By taking trades based on a combination of the channel and the fast stochastic and MACD, I have also been successful but had far fewer trades and fewer winners. So far the Risk/Reward ratio is slightly positive, but only just. I've tried to use volume to help me decide when to enter and when to exit, but the signals seem very mixed (volume large one day, large the next but price moves down, or virtually no volume but price moves steadily up). These trades have been just a few percent winners, often not making up for the chop that I weathered. I'm also only getting one or two signals a week which doesn't jibe with Jack's description of constantly selling and buying 4+ streams every 4-8 days (that would be 4-8 signals/week).
I'm trying to sketch out plans for my trading for next month and I want to stay focused on learning a swing strategy of 4-8 days with 10-20% profit targets, as Jack described. Is this achievable?
I'd really like to know what everyone here has found. Is the Bruno R/High Noon entry working out? How about taking trades based solely on channels? Do you know where your winners are coming from?
Thanks so much.
I've been reviewing the transcripts for the IBD meetups and rereading "Building Minds for Building Wealth" and trying to make sense of what Jack is saying.
From what I can tell, the theory is that as stocks move down through their channel and touch the right channel line, volume will dry up. Before price starts to move up again, we are alerted by an increase in volume, the fast stochastic moving up through 50 and MACD diverging.
Is that about right?
In practice, I have found that these three things rarely occur in this neat package. The dry up signal is amazing. I've been basically day trading this for a month and the results are impressive. Unfortunately I don't mean to day trade them, it just seems that the price and volume action rarely seem to justify holding much longer than one night. Some of these trades have yielded 5-8% winners, even though they last only one day. There's still a lot to learn, but these trades have been paying my "tuition" and basic living expenses.
By taking trades based on a combination of the channel and the fast stochastic and MACD, I have also been successful but had far fewer trades and fewer winners. So far the Risk/Reward ratio is slightly positive, but only just. I've tried to use volume to help me decide when to enter and when to exit, but the signals seem very mixed (volume large one day, large the next but price moves down, or virtually no volume but price moves steadily up). These trades have been just a few percent winners, often not making up for the chop that I weathered. I'm also only getting one or two signals a week which doesn't jibe with Jack's description of constantly selling and buying 4+ streams every 4-8 days (that would be 4-8 signals/week).
I'm trying to sketch out plans for my trading for next month and I want to stay focused on learning a swing strategy of 4-8 days with 10-20% profit targets, as Jack described. Is this achievable?
I'd really like to know what everyone here has found. Is the Bruno R/High Noon entry working out? How about taking trades based solely on channels? Do you know where your winners are coming from?
Thanks so much.
Hi SpyderTrader & Friends
I just grabbed COGO @ 16.50 -- Wish Me & Any Other Group Members Good Luck on this trade !!
Good Trading - Good Health & God Bless
cowpok1027
I just grabbed COGO @ 16.50 -- Wish Me & Any Other Group Members Good Luck on this trade !!
Good Trading - Good Health & God Bless
cowpok1027
Foible,
In my prior posts you will find my simulated documented results based on trading the DU concept. These trades were strictly entered based upon volume and TA with no considerations of channels. I agree that things never happen in "neat little packages". Channel drawing is an art and no two trader will have the same channels. I think that my results could be improved by modifying the hard exit rules that I used.
In my prior posts you will find my simulated documented results based on trading the DU concept. These trades were strictly entered based upon volume and TA with no considerations of channels. I agree that things never happen in "neat little packages". Channel drawing is an art and no two trader will have the same channels. I think that my results could be improved by modifying the hard exit rules that I used.
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