Spydertrader's Jack Hershey Equities Journal II

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Quote from BA_Trader:

Is something different or special about the last R2L that tells you to reverse... after holding through the last 2 or more L2Rs of the channel?
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The point to which you refer actually has two FTT's from two different channels. The first (I failed to annotate) is an FTT of the orange (thick lines) down trend. The second refers to the trend annotated by Spooz in his chart above. I don't add these steep trends as I feel they add too much clutter to my chart, but I 'see' the trend itself. IF you find (as Spooz_top does) the steep channel lines help, please feel free to add them to your charts. I have added the attached for clarity.

- Spydertrader

<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1295086>
 

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Quote from spooz_trader1:

Aurum,

Thanks for posting the doc. You beat me to it... :)

I've been searching for a post that Jack made in the past regarding this chart. If anyone knows it, please post.

I do recall him saying to start at the bottom and connect the "dots". He also mentioned to use different pen colors to enable more than one 5 min bar to be drawn on the chart.

I've done this drill a few times and it's cool to see how vol increases/decreases speed during a bar. Essentially, I view this chart as displaying Vol in 2D, as opposed to the normal 1D bar.

Of course, Jack, feel free to add to this discussion...

spooz
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I think this is the post you are refering to, hope this helps.

http://www.elitetrader.com/vb/showthread.php?s=&postid=942096&highlight=prv+pace#post942096

:cool:
 
At what point is it possible to identify an FTT?
(a) do we wait for the break of the end of the bar?
(b) do we attempt to identify during the formation of the bar?

Option (a) is the clearest but will often lead to multiple small losses (whipsaw), particularly in the event of congestion or the occurrence of outside bars

Option (b) seems to be the preferred approach but without clear criteria to make the decision, correct identification is very difficult to do with any consistency. If my understanding is correct, clues should be gleaned from pro rata volume and the 2 min YM but the “ah-ha” experience is yet to occur. With an intrabar decision I appreciate that the probability of correct identification is reduced but without clear criteria the decision becomes little more than a guess. I would be grateful for comments on how to resolve this dilemma.
 
As I understand it two signals to trade (there may be others) are a FTT (Failure to Traverse) and a FBO (Failed Break Out). Is this correct?

On a 1-2-3 moving down, a FTT would be a failure of a leg to reach the 2 line. This would be a call for a long trade. Am I correct or incorrect here?

On a 1-2-3 moving down, a FBO would be a failure of a leg to breach the 1-3 line. This would be a call for a short trade. Am I correct or incorrect here?

Thank you,
REB
 
Gentlemen, i am new to this site and i'm already in a quandry
as how to get my master list of tradeable stocks. i go to
Stocktables and enter my scan. i get around 100 stocks. i then create 3 lists:
bottom list: filter out stocks < vol.=200k- question: how high up the list do you go? are there any other requirements for these stocks?
top list: select only stocks with price gains. question: should these also have > vol.=200k? how far down the list should you go? to the 0 vol. line?
middle list: 5 stocks from the 0 vol. line? what other requirements do these stocks have?
could someone clarify this for me? i don't think my picks are proper. many thanks .... Roy
 
Quote from restan:

Gentlemen, i am new to this site and i'm already in a quandry
as how to get my master list of tradeable stocks. i go to
Stocktables and enter my scan. i get around 100 stocks. i then create 3 lists:
More...

If you begin with 80 for EPS and RS, you'll start with a bigger list. However, you have things started off just fine.

Quote from restan:

bottom list: filter out stocks < vol.=200k- question: how high up the list do you go?
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Ten Stocks

Quote from restan:

are there any other requirements for these stocks?:
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Not at this point in the culling process.


Quote from restan:

top list: select only stocks with price gains. question: should these also have > vol.=200k? how far down the list should you go? to the 0 vol. line?
More...

Again, Ten Stocks. You are creating three lists of Ten Stocks

Quote from restan:

middle list: 5 stocks from the 0 vol. line? what other requirements do these stocks have?
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200,000 minimum Average Daily Volume

Quote from restan:

could someone clarify this for me? i don't think my picks are proper. many thanks
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Here is the current Final Universe

ALY BITS COGO CTRN DTLK DXPE FTEK GIGM GMXR GROW GRRF IAAC ININ KNOT LQDT MIKR NVEC OMNI OMRI PCCC RATE REDF SIM SIRF SMSI STEC SYX TXCO WPSC XING

You can use this one to start - adding any new stocks you find, or create your own. Your choice.

- Spydertrader
 
Quote from Spydertrader:

The point to which you refer actually has two FTT's from two different channels. The first (I failed to annotate) is an FTT of the orange (thick lines) down trend. The second refers to the trend annotated by Spooz in his chart above. I don't add these steep trends as I feel they add too much clutter to my chart, but I 'see' the trend itself. IF you find (as Spooz_top does) the steep channel lines help, please feel free to add them to your charts. I have added the attached for clarity.

- Spydertrader

<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1295086>
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Many thanks for your reply Spyder.
 
Quote from Aurum:

I notice it does one thing which none of the PRV tools to date do (mine, Mak's, the Tradestation code) - it lets you see when volume is accelerating and decelerating. (Exactly what you are saying Spooz.)
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here is a sample of a tradestation version of PRV which I called a stacked volume indicator. It shows acceleration/deceleration for every 30 second time slot within the 5 min bar. Each 30 seconds is colored differently and works on any fractal and splits time into 10 equal units. A rush of volume at the end of a bar for example would be very visible as would a trickle of volume at any stage of the 5 min period.

the tool is useful for reviewing after market hours as it preserves a history of the day's activity. It is obviously useful live as well and allows for a comparison of current bar over previous bar for any segment of time e.g 1st 30 seconds of this vs 1st 30 seconds of latter etc.

I am interested in porting this code to ensign if any gifted coders are up for the challenge.

Mikeytrader
 

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