Spydertrader's Jack Hershey Equities Journal II
- Thread starter Spydertrader
- Start date
- Status
why slam a trade just because it doesn't jive with analysts views?
if there was ever a group tha HAS consistently gotten it wrong, it would be analysts.
Though I may cheer them when the herd follows their advice if it helps a stock i'm in and jeer them when their advice causes the herd to take action that may temporarily hurt a position I'm in, I generally think analysts opinions are irrelevant at best.
Rick
I don't know if you were directing this at me...
My take on it is that I'm looking for a stock that cycles first and foremost, and is a quality stock secondarily. I'm not concerned in the least if analysts say one thing or another - I'm concerned about finding something that can put the compounding formula to work on a very fast timeframe.
My target is to make 10% over the next few days and then move on to the next candidate. I don't intend to be holding for more than a week, let alone a year, on these stocks. Regarding the volume dumps, those do interest me, and because of what's gone on the past few weeks I'm paying pretty close attention. Of course, if I'm wrong, I exit with a (hopefully) small profit/loss, and move on.
As many profitable people will attest to, there are plenty of ways to make money in the markets. The path I've chosen has been to use channels, the PV relationship, sequences, etc. to make money. You are interested in longer term outlook it appears, EPS, RS, growth. To each their own, and may they both be profitable!
As requested, please find the attached ES 5 min chart for today. The Orange, Kelly Green and Bright Blue trend lines were put in place Friday, and continued forward until today.
- Spydertrader
- Spydertrader
I can't answer this since I am neither a 'meet up' person, nor do I keep in contact with any of the 'meet up' people.
Even if I could answer it, what good would it do? If the best trader had made 250% on their capital YTD, how would it help you? Would you go visit them and ask them what their entry and exit criteria is? Watch their charts? Set their stops? Rub their magic lamp? Feed their llama?
You have an excellent resource here to improve your trading, with Spydertrader and the other current posters. Yet you continue to be worried about someone else's profit and loss.
I had been having a hard time convincing myself to do channels. I found many excuses not to, one of which was drawing a few lines, and then telling myself they didn't work (after very very little practice).
Then, after hearing and reading Jack suggest to have some clear space on the right hand side of the chart to "see the future",on a whim I tried it. And you know what? For me it made a HUGE difference.
I believe the reason is that it trains or forces your mind to focus on where price is going, even (as in my case) you believe you can't. It's a visually aid to bypass unuseful/bad beliefs about what you're capable of.
I am reminded about Wayne Gretzky being asked how he was so good. His reply was something like, "while others skate to where the puck is, I skate to where the puck is going".
Today is only my third day of doing active, intraday channels. The high and low of the ES stuck out like sore thumbs by simply following the FTT's.
PS Thanks for your chart Spyder.
Then, after hearing and reading Jack suggest to have some clear space on the right hand side of the chart to "see the future",on a whim I tried it. And you know what? For me it made a HUGE difference.
I believe the reason is that it trains or forces your mind to focus on where price is going, even (as in my case) you believe you can't. It's a visually aid to bypass unuseful/bad beliefs about what you're capable of.
I am reminded about Wayne Gretzky being asked how he was so good. His reply was something like, "while others skate to where the puck is, I skate to where the puck is going".
Today is only my third day of doing active, intraday channels. The high and low of the ES stuck out like sore thumbs by simply following the FTT's.
PS Thanks for your chart Spyder.
- Status