ALY BITS COGO CTRN DTLK DXPE ESCL FTEK GIGM GMXR GROW GRRF IAAC ININ KNOT LQDT MIKR NVEC OMNI OMRI PCCC RATE RBAK REDF SIM SIRF SMSI STEC SYX TXCO WPSC XING
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Spydertrader's Jack Hershey Equities Journal II
- Thread starter Spydertrader
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ALY BITS COGO CTRN DTLK DXPE ESCL FTEK GIGM GMXR GROW GRRF IAAC ININ KNOT LQDT MIKR NVEC OMNI OMRI PCCC RATE RBAK REDF SIM SIRF SMSI STEC SYX TXCO WPSC XING
"We have camtasiaed many day's trading because it is part of the evening debriefing to retrade the day to determine the differences in a non pressured trading sequence as compared to a pressured sequence."
The above was from Grob109 on 9-18-06.
If this was referring to SCT trading, I'm wondering if any of these videos will be linked on next year's SCT thread.
The above was from Grob109 on 9-18-06.
If this was referring to SCT trading, I'm wondering if any of these videos will be linked on next year's SCT thread.
Quote from Vista:
"We have camtasiaed many day's trading because it is part of the evening debriefing to retrade the day to determine the differences in a non pressured trading sequence as compared to a pressured sequence."
The above was from Grob109 on 9-18-06.
If this was referring to SCT trading, I'm wondering if any of these videos will be linked on next year's SCT thread.
I would love to see a video of a channel trading day.
Are they available for download.?
I need some help with filling two things on the Daily Analysis sheet: The buy date and Peak date.
How does one anticipate a buy date for a stock where the potential buy is days away. I am comfortable anticipating a buy day coming up in the next couple of days (currently in Dry Up and Fast stochastic line is over 50). For buys that are more than a day away, I arrive at the potential buy day by anticipating when the Fast stochastic fast line might cross the 50 line. As a result, some of the buy dates change daily due to a change in the characteristics of the fast line.
I have read Jack's docs and videos where he lines up batters for his streams for the rest of the week. The buy date will come in handy here.
I am trying to get some insight to see how others figure out their buy dates. How does Jack figure it out?
For peak day, I wait for the BO and then look at prev history to see how many days it took to reach peak vol.
I realise the buy date is an approximation, but I would like to see how others do it.
Thanks
How does one anticipate a buy date for a stock where the potential buy is days away. I am comfortable anticipating a buy day coming up in the next couple of days (currently in Dry Up and Fast stochastic line is over 50). For buys that are more than a day away, I arrive at the potential buy day by anticipating when the Fast stochastic fast line might cross the 50 line. As a result, some of the buy dates change daily due to a change in the characteristics of the fast line.
I have read Jack's docs and videos where he lines up batters for his streams for the rest of the week. The buy date will come in handy here.
I am trying to get some insight to see how others figure out their buy dates. How does Jack figure it out?
For peak day, I wait for the BO and then look at prev history to see how many days it took to reach peak vol.
I realise the buy date is an approximation, but I would like to see how others do it.
Thanks
Here is my understanding of potential buy dates consideration for trading stocks
1) Decreasing volume during the period of approaching and basing on the right trend line. (The right trend line
is the line that defines point 1 & 3). In some of the setups the right trend line takes on less significant
than the TA setup.
One of the videos Mr Hershey said that you had only a couple of days between the volume shrinkage
pattern and the buy opportunity. I inferred from this that the longer the stock stays in a low
volume pattern the lower the probability or more risk the trade takes on.
2) Appropriate volume and TA readings during the buy window.
3) I am adding this one and really goes with number 1 above. Decreasing daily price ranges.
On the hold side date estimate
1) I think he said around 8 days or it natural cycle.
2) As explained by some of the contributors to this journal I think a very practical way of exiting a successful trade
is to let the price action take you out of the trade by daily moving your stop near the trend line that you are constantly
adjusting up closer to yesterday's close.
Spyder - I wanted to thank you for your efforts. I've never monitored a Journal as long as this one cause typically
I can smell trading BS pretty quickly and more importantly determine quality trading advice. Trading is not easy emotionally
and any one who tries to synthesis trading as a skill that can be done in a day or with a couple of indicators is
extremely under simplfying things.
I am looking forward to your next journal. Thanks again!
1) Decreasing volume during the period of approaching and basing on the right trend line. (The right trend line
is the line that defines point 1 & 3). In some of the setups the right trend line takes on less significant
than the TA setup.
One of the videos Mr Hershey said that you had only a couple of days between the volume shrinkage
pattern and the buy opportunity. I inferred from this that the longer the stock stays in a low
volume pattern the lower the probability or more risk the trade takes on.
2) Appropriate volume and TA readings during the buy window.
3) I am adding this one and really goes with number 1 above. Decreasing daily price ranges.
On the hold side date estimate
1) I think he said around 8 days or it natural cycle.
2) As explained by some of the contributors to this journal I think a very practical way of exiting a successful trade
is to let the price action take you out of the trade by daily moving your stop near the trend line that you are constantly
adjusting up closer to yesterday's close.
Spyder - I wanted to thank you for your efforts. I've never monitored a Journal as long as this one cause typically
I can smell trading BS pretty quickly and more importantly determine quality trading advice. Trading is not easy emotionally
and any one who tries to synthesis trading as a skill that can be done in a day or with a couple of indicators is
extremely under simplfying things.
I am looking forward to your next journal. Thanks again!
For PVT trading, theIAS and DAS are very important sheets for conducting trading and learning.
You can see from your binders as they fill up, the skill and completeness relates directly to your effectiveness and efficiency.
On the IAS be sure to attach he chart you used to fill in the cycle information.
This is your valued basis for making estimates on the two columns of the DAS.
The current chart can be annotated by sketching in on a print (or annotate it elecronically and print it) the future cycle that is coming up. Draw a pink line on the Fast STOCH where it will come through50%; then draw the FRV coming out of the BO; Draw a TL and the channel with respect to the BO and FRV.
Now you can fill in the buy date and the sell dates. The buy date is the day the FRV starts and the LTL of the channel will cross the IT channel line at some pont a few days after that. Check on the IAS to see the # of days duration of the hold and notice that the slope of the LYL will be such as to give you the approximate time of crossing.
If you do 4 streams of these (3 stocks each) on a Sunday, it gives you a batting order for 12 stocks. You can add some pinch hitters as well. You can see how stocks peel off one after another as the week unfolds.
In one session I looked at all of these done for the Universe at that time. There were 84. By having the next trade annotated on the whole Universe on colored printed charts, we were able to do some classifying of their quality as well.
I tied to post a planning document for ET members but it was not appropriate. If you saw it, there were two points: drills and the incubator process, to keep in mind and to look for.
Marking the pink line on the current charts is a drill type MUST DO.
The DAS goes from left to rght in sectors designed to keep you sensitized to the preparation and the trading skills.
You will seethat you will need two rows on n DAS after a while. This is because of the content that you have to write on the sheets even when abreviated severely.
All you work builds a mental storehouse. The conscious quantity and quality of this allows you to be very sensitized to all aspects of the natural cycle.
Ultimately the four columns (these two ) and the formations and trends columns give you a place to wite what is known. these become chuck full of observations and scope and bound the up coing trade. For OWNED stocks they prescribe the progress of the trade.
The right side fof the chart and the margin where the stop stuff goes (type 8 and 9 from the documentation), clue you in by anotations to the next events in the cycle.
Doing 12 to 14 batters a week for 50 weeks a year, puts you through an MBA for making money. Things precede and follow this dicussion of these two columns. Al combined, you are buildin a template in your minds for a future under taking. This will always be with you for your equities accounts. And at the same time it gets you equipped for other uses of the template.
Thoroughly completing the IAS and DAS and annotaing charts to inform these sheets is the most valuable aspect of making money.
Doing the trading follows from preparation and mind building.
The other topical posts on these columns contribute a great deal to this conversation. They show, best of all, how practitioners are getting the job done.
You can see from your binders as they fill up, the skill and completeness relates directly to your effectiveness and efficiency.
On the IAS be sure to attach he chart you used to fill in the cycle information.
This is your valued basis for making estimates on the two columns of the DAS.
The current chart can be annotated by sketching in on a print (or annotate it elecronically and print it) the future cycle that is coming up. Draw a pink line on the Fast STOCH where it will come through50%; then draw the FRV coming out of the BO; Draw a TL and the channel with respect to the BO and FRV.
Now you can fill in the buy date and the sell dates. The buy date is the day the FRV starts and the LTL of the channel will cross the IT channel line at some pont a few days after that. Check on the IAS to see the # of days duration of the hold and notice that the slope of the LYL will be such as to give you the approximate time of crossing.
If you do 4 streams of these (3 stocks each) on a Sunday, it gives you a batting order for 12 stocks. You can add some pinch hitters as well. You can see how stocks peel off one after another as the week unfolds.
In one session I looked at all of these done for the Universe at that time. There were 84. By having the next trade annotated on the whole Universe on colored printed charts, we were able to do some classifying of their quality as well.
I tied to post a planning document for ET members but it was not appropriate. If you saw it, there were two points: drills and the incubator process, to keep in mind and to look for.
Marking the pink line on the current charts is a drill type MUST DO.
The DAS goes from left to rght in sectors designed to keep you sensitized to the preparation and the trading skills.
You will seethat you will need two rows on n DAS after a while. This is because of the content that you have to write on the sheets even when abreviated severely.
All you work builds a mental storehouse. The conscious quantity and quality of this allows you to be very sensitized to all aspects of the natural cycle.
Ultimately the four columns (these two ) and the formations and trends columns give you a place to wite what is known. these become chuck full of observations and scope and bound the up coing trade. For OWNED stocks they prescribe the progress of the trade.
The right side fof the chart and the margin where the stop stuff goes (type 8 and 9 from the documentation), clue you in by anotations to the next events in the cycle.
Doing 12 to 14 batters a week for 50 weeks a year, puts you through an MBA for making money. Things precede and follow this dicussion of these two columns. Al combined, you are buildin a template in your minds for a future under taking. This will always be with you for your equities accounts. And at the same time it gets you equipped for other uses of the template.
Thoroughly completing the IAS and DAS and annotaing charts to inform these sheets is the most valuable aspect of making money.
Doing the trading follows from preparation and mind building.
The other topical posts on these columns contribute a great deal to this conversation. They show, best of all, how practitioners are getting the job done.
Quote from jtnet:
there are about 5 differerent threads and 1000's of pages to sort through, im new to this method, anyone have pg numbers on the real meat and potatoes of it?
Everything you need to know has been laid out for you in Journal One and Journal Two. Although the process changes somewhat from beginning to end, reading through the many pages provides an opportunity to avoid the many mistakes I (and others) made along the way. As you know, Jack runs an IBD Group out in Arizona. He recommends to everyone attending the meetings to read both Journals. The biggest reason is, those that read them make money. At the end of Journal One, you will find a complete step-by-step instruction post, but please, do yourself the favor and wait until you have read through all the pages before skipping ahead. Once finished, begin on Journal Two. By time you catch up, and finish with Journal Two, you should have the process down cold. You should NOT trade with real money until you have completely internalized the process.
I recommend the same process to everyone:
If at anytime, you do not understand the definition of a trading term or phrase, visit the following web site for a searchable traders dictionary:
http://www.investopedia.com/dictionary/
1. Read through Journal One and take notes while you do. You can easily skip over the various lists I created as they occurred over a year ago. The one thing people who do well with this system are they have read Journal One (many read it several times).
2. When you do not understand something, post your question to Journal Two (or later into The Equities Journal Three). It may be that you simply have not arrived at the answer on your own yet, and someone may say to keep reading. Be patient. In time it all comes together. Understand that much has changed since the first post in Journal One, but you will need to see WHY the process changed to get a better overall view of the fundamentals behind the system.
3. Continue to follow along with new Journal Two posts beginning with Today's contributions moving forward. This will allow you to see how others are doing as you learn, and perhaps have some questions answered as you read through the new input.
4. Read the attached documents in the Journal - especially: Tomorrowâs Newspaper Today and The Big Post I - X.
5. Check out the linked background material after you have read completely through Journal One. It will make much more sense to you then.
6. Practice the culling and Watch List creation each night even though you WILL NOT trade until later. Also look at the charts from your own Final Universe each night. Begin to notice how price rises and falls.
7. This is your Final Universe at Present:
ALY BITS COGO CTRN DTLK DXPE FTEK GIGM GMXR GROW GRRF IAAC ININ KNOT LQDT MIKR NVEC OMNI OMRI PCCC RATE RBAK REDF SIM SIRF SMSI STEC SYX TXCO WPSC XING
Put it into an excel file.
8. Think of this process as a journey, and in this case, the journey is equally important as the destination. You must build a strong foundation, and to do that, you need to read as much as you can to absorb the process correctly.
I hope this helps. Let me know if I can do anything more to assist you.
Good Journey to you.
- Spydertrader
Quote from jtnet:
what about futures, where would i find posts about that topic mostly
Start Here. Also, search under Grob109 and Bubba7.
By next weekend, I'll have the new Futures thread up and running complete with links to background information. However, learning the equities method does help one to learn the futures side. The equities simply provide a template for trading the futs. Once a trader transitions to Hershey Futures trading, you'll notice the same patterns repeating, only on a much faster and more frequent basis.
- Spydertrader
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