Spydertrader's Jack Hershey Equities Journal II
- Thread starter Spydertrader
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Very helpful. I am reading the background material but as you know it runs in the thousands of pages and I am starting to understand Jack writing style.
In my previous trading, I did not put much weight on volume, so I'm undergoing an attitude adjustment as well as learning this trading method.
Thanks for taking the time to put together your answer.
Doug
I spent quite a bit of time earlier in the year watching this thread but never got around to implementing it until recently when I saw the 1 year results (Outstanding! Great job!).
Never being one to take the easy route I decided to try a few variations and if I stick w/ it I'll let everyone know how it goes.
One that I am trying is as follows: I am selecting a slightly larger universe of stocks to play w/ each day by grabbing all the 80/80 stocks (earnings rank /rel strength) from stock tables (about 290 or so today) and combining w/ all the 85/85 stocks from investors business daily etables (these lists overlap but not not completely) to come up w/ one list of what should be pretty strong stocks, although maybe not as narrow as those used in the rest of the journal.
This seems to be giving me a little larger universe and I'm going to test whether this larger universe is as successful as the more narrow universe.
Anyway, in that context there are 4 others that do qualify for tomorrow: LIFC,NGPS,NTRI and NURO. You can get the numbers for all of these on the Wealth-Lab rank screen as they all come up.
I am also testing stocks that ran up 3 or 4 times (instead of just 5) during the last 6 months to see if they move as well/predictably or not. If I stick with it I'll let you know how that goes once I have some data.
Never being one to take the easy route I decided to try a few variations and if I stick w/ it I'll let everyone know how it goes.
One that I am trying is as follows: I am selecting a slightly larger universe of stocks to play w/ each day by grabbing all the 80/80 stocks (earnings rank /rel strength) from stock tables (about 290 or so today) and combining w/ all the 85/85 stocks from investors business daily etables (these lists overlap but not not completely) to come up w/ one list of what should be pretty strong stocks, although maybe not as narrow as those used in the rest of the journal.
This seems to be giving me a little larger universe and I'm going to test whether this larger universe is as successful as the more narrow universe.
Anyway, in that context there are 4 others that do qualify for tomorrow: LIFC,NGPS,NTRI and NURO. You can get the numbers for all of these on the Wealth-Lab rank screen as they all come up.
I am also testing stocks that ran up 3 or 4 times (instead of just 5) during the last 6 months to see if they move as well/predictably or not. If I stick with it I'll let you know how that goes once I have some data.
I am completely new to this but I am into it because I like the volume dry up concept. After tipping the toe a bit, I feel there is a lot of "art" to this stuff and will reread the old posts.
Anyway, I also feel we need some kind of macro scan along with this stuff because when the market stalls, things choke. Maybe the FRV exit rule will help in that regards but if the market is good, I think things can still go despite FRV. Unfortunately, I am too focused into very short term stuff for trading S&P emini and don't know what to make for swing trading (few days). Has the same concept been applied to the board market (NYSE UP VOLUME drying up)?
Anyway, I also feel we need some kind of macro scan along with this stuff because when the market stalls, things choke. Maybe the FRV exit rule will help in that regards but if the market is good, I think things can still go despite FRV. Unfortunately, I am too focused into very short term stuff for trading S&P emini and don't know what to make for swing trading (few days). Has the same concept been applied to the board market (NYSE UP VOLUME drying up)?
Here are my results for this morning.
Wednesday, November 16, 2005
At 9:39 NTRI triggered a signal by achieving the low band DU of 121057
Price was 35.27 up
MACD @ .1546
STOCH@ 68.84
Did not meet the criteria and was eliminated from further consideration.
At 11:18 LIFC triggered a signal by achieving the low band DU of 107051
Price was 18.67 Down
MACD -.141
STOCH@ 54.45
Did not meet the criteria and was eliminated from further consideration.
I did no trading this morning.
G87
Wednesday, November 16, 2005
At 9:39 NTRI triggered a signal by achieving the low band DU of 121057
Price was 35.27 up
MACD @ .1546
STOCH@ 68.84
Did not meet the criteria and was eliminated from further consideration.
At 11:18 LIFC triggered a signal by achieving the low band DU of 107051
Price was 18.67 Down
MACD -.141
STOCH@ 54.45
Did not meet the criteria and was eliminated from further consideration.
I did no trading this morning.
G87
I am an idiot. I forgot to move my stop for GMXR to 5% which I thought I did. When I try to sell my 200 today to take some profits, they are not there. It was stopped out yesterday.
I think I am always gonna use 5% hard stop now and 2% as the mental stop on the first day... otherwise it's bounded to happen again.
P.S. But it is good to know this stuff is working without me.
I think I am always gonna use 5% hard stop now and 2% as the mental stop on the first day... otherwise it's bounded to happen again.
P.S. But it is good to know this stuff is working without me.
Although BCSI no longer finds itself in my Final universe, the stock provides an excellent example (in graphic detail) of why we do not risk holding an equity overnight during an earnings announcement.
<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=899994>
<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=899994>
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