Spydertrader's Jack Hershey Equities Journal II

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Quote from dougcs:

I ran the screen on stocktables.com but BOOM, BTUI, FORD did not appear in the list of results. What am I doing wrong?
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Try Changing the CPM to all and Sort By to % Volume Change. Those alterations should do the trick for you. See attached.

- Spydertrader
 

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Quote from Spydertrader:

Try Changing the CPM to all and Sort By to % Volume Change. Those alterations should do the trick for you. See attached.

- Spydertrader
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Yep-did it; missed the CPM setting.

Thanks,
DS
 
I have started trying to trade using this strategy just today. I had VIVO on my list but according to my 30 minute graph the Stoch wasn't over 80 at 11 am when volume exceeded the low band (my stoch didn't hit 80 until around 12:30 whenl the price was around 22.18 or higher) If my chart is wrong I want to change it; Did your chart show something differently or did you just jump the gun a little?


Also, one other quetion that this brings up.

Suppose you have a stock that passes dry up at 11 or 11:30 but Stoch isn't at 80 - say 60 - so you don't buy. Then, it gets to 80 at 1pm (for example). Will you take the trade at that point if Volume has continued to advance and is proportionately on track to achieve FRV? Or, will you do the trade ONLY when the dryup and Stoch occur at the same time?

Thanks
 
Quote from mlsignups:

I have started trying to trade using this strategy just today. I had VIVO on my list but according to my 30 minute graph the Stoch wasn't over 80 at 11 am when volume exceeded the low band (my stoch didn't hit 80 until around 12:30 when the price was around 22.18 or higher) If my chart is wrong I want to change it; Did your chart show something differently or did you just jump the gun a little?
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I simply jumped the gun more than a little. I noticed increasing volume and price in combination with an uptrending stochastic divergence. As you can see by the price action of VIVO, jumping the gun isn't always the best course of action.

Quote from mlsignups:

Suppose you have a stock that passes dry up at 11 or 11:30 but Stoch isn't at 80 - say 60 - so you don't buy. Then, it gets to 80 at 1pm (for example). Will you take the trade at that point if Volume has continued to advance and is proportionately on track to achieve FRV? Or, will you do the trade ONLY when the dryup and Stoch occur at the same time?
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I prefer to have "all the planets lined up" before I determine the system has generated a "buy signal." Others have shown a desire to trade when things appear "close enough." You should choose whichever method best suits your personality and ability to profit.

Hope that helps.

- Spydertrader
 
Quote from bdolnik:

Nice trade gooch87! For some reason I didn't even have CTHR on my list of stocks in dry on on Monday :(
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Thank you bdolnik.

Here is what I am doing for those who are interested.

First of all I am not a sophisticated trader. I have had to look up every term discussed in these journals, the internet is awesome for expediting the learning curve in this regard.
Before, I bought and held the QQQQ, and SPY, DIA etc. maybe look at it once a month at the most. When I read the first entry into the last journal, I really liked the idea of trading for a living, and thought what the heck... not there yet though.

This is the final universe I am currently using with the scans. I usually do my scans around 11 pm PT. or in the morning before 6:00 am PT.

BOOM CKCM CMCO CTHR DCAI DPTR ENER FORD GES GMXR HANS IRIS JMDT KNDL KNOT LIFC LUFK NFLX NGAS NGPS PFWD RATE RNOW RTSX SNHY TIE TRGL UEPS VDSI VIVO VPHM

I use the MSN screener that GALLAS2 submitted in the last journal. I will attach it for anyone to use. Just rename it gallas2.iff and import it into the MSN Screener. It will give many of the same stocks as stocktables.com and it's free. I try to keep up with the journal to see what Spydertrader is doing and make adjustments.

Several important lessons I have learned...

1. Paper trading is not the same as the real thing. Too many times I hit the wrong button when placing an order or wrong size etc. not one mistake, made me money, I might add.

2. Stick to the system.

3. I am only trading long now because I want to master this before trying my luck out on shorting.

4. Patience is a golden virtue. This cannot be understated.

I usually trade until 8:00 am because I still have to go to work. I also must travel quite a bit so I can only trade maybe 2 weeks out of the month. This slows down my money velocity.

I use Ameritrade and MB trading. I get my data from Ameritrade and have no complaints but do my trading through MB Trading and they are great! Low cost and quick! I also use Medved quote tracker and pay the $7 a month because I think the guy who made it did a great job. I don't mind paying for good work.

I have had many small losses using this system because of the 2% rule and because of my setup for the charts was wrong, not waiting until the stoch was high enough etc...
This last trade with CTHR payed back all of the losses.

As I am learning, I used to try to follow everything spydertrader did and I can't overstate how much his journal has helped.



Hope this helps in some way,

G87
 

Attachments

Here is what I have on my DU list for today...

SYMB LBV/FRV
FORD 193/1.1
KNDL 49/294
NGPS 74/444
NTRI 121/725
TRGL 45/274

Gooch, I am in just about the same boat as you. I'm also having to look up all these terms as I go :)

I'm currently using stocktables.com and Power E*Trade. Etrade ends up costing $9.95 a trade but it's easy to get money in and out of there and I love their trading interface.

I'm trading with initial capital of $10,000 which I have to loose. I'm doing it part time, however I work in IT so am able to keep an eye on things throughout the day. I've only made about 6 trades so far since starting on 10/24. I've had 3 negative trades and 3 positive so am about even (remember, I'm a complete beginner to trading).

Hopefully we can all keep each other up to date on our successes and failures with this system.
 
Quote from bdolnik:

Here is what I have on my DU list for today...

SYMB LBV/FRV
FORD 193/1.1
KNDL 49/294
NGPS 74/444
NTRI 121/725
TRGL 45/274
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I added NTRI to my final universe and now I have the same as you.

G87
 
Quote from bdolnik:

I'm currently using stocktables.com and Power E*Trade. Etrade ends up costing $9.95 a trade but it's easy to get money in and out of there and I love their trading interface.
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Developing a comfort level with one's trading software definitely provides a psychological benefit. However, based on the per share Fee Structure at the MBTrading.com web site, it appears you could have saved between $50.00 and $100.00 USD on commissions when comparing your six round trip trades. How would the commission savings effected your profitability? In addition, MBTRading's order entry software integrates with Quotetracker. As a result, you could monitor and trade through the same software. I use the MBT integration with Qcharts to perform the same task.

Since the Demo Software remains free, testing out the feel of the QT / MBT integration costs you nothing, and might end up saving you a ton of cash.

- Spydertrader
 
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