Spydertrader's Jack Hershey Equities Journal II
- Thread starter Spydertrader
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I understand the need to look ahead in order to assess the context and anticipate the turns. However, the view ahead is far from clear for someone lacking the skill set such as your own, even on the nursery slopes. When skiing or driving I can usually see clearly what is ahead. When trading I cannot. âLooking aheadâ in trading terms suggests anticipating areas of likely support / resistance. That would make sense. I can see channel lines, volume histogram, Fib retracement levels, areas of high and low volume etc. These I can anticipate. So while the training wheels are on, perhaps it would be best to focus on looking for FTTs in areas of likely s/r?
Gooch87,
Thanks. With regards to the similar problem below, can I surmiss that in your case, the channels do not differ much between the daily and intraday (30min and 5 min) timeframe? In my case, it differs greatly and I have to usually draw 2 or more set of channels each time which greatly messed up my charts.
Thanks. With regards to the similar problem below, can I surmiss that in your case, the channels do not differ much between the daily and intraday (30min and 5 min) timeframe? In my case, it differs greatly and I have to usually draw 2 or more set of channels each time which greatly messed up my charts.
Quote from gooch87:
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I have the same problem as you, but I am not too concerned about it. I draw the channels exactly, then the software works em over when you flip between timeframes. I gave up making them exact.
I hope this helps and good trading to you
gooch87
stepan7,
Have you read Journals 1 & 2 in detail? All the information is there. I live in Aus and work full time. As a result, I can't really trade the live U.S. markets (unless I forgo sleep). I read Journals 1 & 2 and automated the the Hershey stock rules. I am up 10% since the beginning of the month, including some stupid mistakes which hampered my performance (i.e. not having my script on during a highly profitable day).
You shouldn't need to ask these questions, the info is there and Spyder has repeated it many times.
Apologies for being abrupt, but the best way to learn is to read the journals, not seek a shortcut.
Have you read Journals 1 & 2 in detail? All the information is there. I live in Aus and work full time. As a result, I can't really trade the live U.S. markets (unless I forgo sleep). I read Journals 1 & 2 and automated the the Hershey stock rules. I am up 10% since the beginning of the month, including some stupid mistakes which hampered my performance (i.e. not having my script on during a highly profitable day).
You shouldn't need to ask these questions, the info is there and Spyder has repeated it many times.
Apologies for being abrupt, but the best way to learn is to read the journals, not seek a shortcut.
Congrats on your success.
For the benefit of those who have found it difficult to 'see' the market in the same manner as you, could you elaborate on how you find the FTT's so quickly? Perhaps, you could give an example on what aspects of the market you focus? I believe many would find such a post helpful.
Again, nicely done.
- Spydertrader
here i am, continuing to slog through the mud. today i scanned stocktables for my universe. i took the three lists of 10 to Wealth Lab and tried to rank them. i used Hershey's Equities Rank v 4.0
and only got 3 tickers with a Rank, although most of them have a Score. i did the same with the Hershey Equities Rank SCAN 1.0 and got the same results. there are are numerous chartscripts
to use, which is the correct one? am i the only one here having trouble?
and only got 3 tickers with a Rank, although most of them have a Score. i did the same with the Hershey Equities Rank SCAN 1.0 and got the same results. there are are numerous chartscripts
to use, which is the correct one? am i the only one here having trouble?
You use the chartscript indicated by the instructions at the point you find yourself in the Journals. As you read, the Journals indicate where Chartscript Upgrades occur. Do not skip ahead. You are in the process of building your Final Universe. You may, or you may not have a trade signal as you move forward. As time passes, you'll continue to add symbols to your lists. Remain patient. It is very important for you to follow instructions at this point. I do not understand how you would determine "so many chartscripts to use" when the instructions (at the point in the Journals where you currently find yourself with respect to reading) clearly state which chartscripts to use. I need you to understand the importance of following along and suppressing the desire to skip ahead. Reading to 'just get through it' or skipping through the pages in an effort to 'catch up' to everyone else. shortchanges your understanding.
The choice remains yours to make. Follow the outline, or seek 'shortcuts' to the task at hand.
- Spydertrader
Spyder, i take your comments with respect. my logic forces me to ask this question: if i had read and understood all the information here written, would my results on the scans i performed have been different?. all i wanted to know is which scan to use to get the ''hot list''. believe me, i'm reading through both journals as fast as i can, and making notes. thanks Roy
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