Spydertrader's Jack Hershey Equities Journal II

Status
Not open for further replies.
foible & gooch87,

Thanks for the feedback on GMXR - especially since you've both been in the thread for a while.

gooch87,

I noticed the volume you circled on your chart is several thousand shares below my LBDU (55,797). Do you watch LBDU and Unusual Volume (UV) or just UV? On one of the latest camtasias, Jack spent a good part of the meeting showing some UV snapshots. I currently display UV in my real-time watch list but since I'm tring to learn the "beginner method", I'm watching LBDU. Any thoughts?

Thanks,

spooz
 
Quote from Spydertrader:

The Old Dry Up Volume Scan uses a six month time frame to calculate Dry Up Volume. The Hershey Chartscript Version 4.1 uses a Three Month Time Frame for calculating Dry Up volume. Since Jack uses three months in his eyeball calculations, I switched to a three month algorithm in the Chartscripts as well. The last three months provides a more accurate representation of current market dynamics.

- Spydertrader
More...

OK. Thanks! That makes sense.
 
Quote from spooz_trader1:

foible & gooch87,

Thanks for the feedback on GMXR - especially since you've both been in the thread for a while.

gooch87,

I noticed the volume you circled on your chart is several thousand shares below my LBDU (55,797). Do you watch LBDU and Unusual Volume (UV) or just UV? On one of the latest camtasias, Jack spent a good part of the meeting showing some UV snapshots. I currently display UV in my real-time watch list but since I'm tring to learn the "beginner method", I'm watching LBDU. Any thoughts?

Thanks,

spooz
More...

I use the dryup values when the Hershey Equities Chartscript Version 4.1 finds the dryup stocks, for most other entries, I use UV. GMXR had a UV level around 44000 or so. Like you, I have my entire FU in one window with the column showing Unusual Volume.
I think it is a great idea to for you to use the dryup values when a stock is in dryup and follow the beginner method.
I haven’t been watching the camtasias for quite awhile due to time constraints, so I really have no opinion to share.
gooch87

Here is a picture of my FU sorted by UV
<img src="http://www.elitetrader.com/vb/attachment.php?s=&postid=1254230"></img>
 

Attachments

Quote from spooz_trader1:

QCharts Users,

I'm curious if anyone has any comments on QCharts moving forward (post acquisition, future version(s) 6.1++). Do people here use QCharts or QCharts Plus? Is the Continuum network feature important?
More...

I use Qcharts Basic, and currently remain patient (cautiously optimistic?) with respect to how this whole Esignal / Qcharts deal shakes out. Although past performance is no guarantee of future results, ESignal doesn't have the best history when it comes to these mergers / acquisitions.

For me, the Continuum Client feature represents an integral part of my trading. Unless ESignal replaces this feature with an equivalent (in terms of functionality and price) process, I'll be moving elsewhere.

For now, I'm playing the 'wait and see' game while waiting for certain other 'future' plans to fall into place. I always have a secondary and tertiary back up plan waiting in the wings in case my primary one fails to meet my needs. If / When I do make a change, I plan to update the thread and include the rationale for doing so.

- Spydertrader
 
I have been frustrated by not having available to me the Unusual Volume concept in my charting package. I also am loath to go back to Qcharts because of my pitiful experience with Esignal support.

So, I've come across something that may provide an alternative. As I try it out I'll report my findings. It's called Investor R/T. It can use several different data feeds including IB, Yahoo EOD, and others. Besides having fully programable quote pages (the columns themselves can have formulas) I think it is quite feasable to convert Spyder's chartscripts to the R/T programming language. I'm unsure about scanning in R/T at this point.

My goal is to have a single platform, using a choice of data providers, that can do everything necessary for implementing the Hershey method. If anyone out there has input on R/T please chime in.
 
Quote from candletrader:

Just wondering, what % of your account do you risk on a given trade and where do you place your stop loss?
More...

I risk no more than 2% on any one trade. Normally, my actual risk figures in at around 1%, and the majority of the time, my actual loss involves significantly less than that. I don't use stops as an exit. I use a stop offset method which protects against catastrophic events. I calculate this offset using the methods described by Jack in this post (See attachment). In addition, you can find a visual example of a stop offset line as described by me here.

I hope you find the above information useful.

- Spydertrader
 
Interesting... thank you Spyder...

What kind of reward to risk ratio are you generating on average i.e. if you are risking 2% per trade, how many % are you getting back when you win in a trade, on average?


Quote from Spydertrader:

I risk no more than 2% on any one trade. Normally, my actual risk figures in at around 1%, and the majority of the time, my actual loss involves significantly less than that. I don't use stops as an exit. I use a stop offset method which protects against catastrophic events. I calculate this offset using the methods described by Jack in this post (See attachment). In addition, you can find a visual example of a stop offset line as described by me here.

I hope you find the above information useful.

- Spydertrader
More...
 
Bundlemaker:
I used Investor RT around 6 yrs ago and stopped because I was having some database problems. However I was pushing it to the limit with years of 15 minute data for lots of symbols so my case was unique. I remember they were just coming out with the quotesheets with user defined /programmable columns but I never tried them.

They were a small company and the support was excellent. Also note that the program was originally designed for the Apple/Mac, then adapted for windows.

There are probably many positive changes since my experience but I looked recently and as I remember they had lease arrangements that seemed expensive if you were watching your overhead.

Make sure you evaluate AmiBroker which is what I use. It does not have quotesheets with definable columns, but it has almost limitless programmability with great scanning, exploration, backtesting capability. Also it has plugins for most data sources offering realtime or historical data including IB, Yahoo, MSN, Qcharts, eSignal, etc.

To substitute for a realtime quotesheet I run automatic explorations on my FU all day long (I vary the frequency as the day progresses - can be as often as 1 second apart) to look at %65 day ave volume as well as other indicators. The only drawback to this so far is the sorting is by symbol and it takes a click to manually sort each time. I'm requesting a feature to allow this to be user defined and likely it will be approved.

Good luck
Rick
 
Status
Not open for further replies.
Back
Top