Spydertrader's Jack Hershey Equities Journal

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2005-08-05, Friday - Lists

Hershey Wealth-Lab Chartscript Culling Methodology
Hershey Equities Rank V 3.0.0 / Qcharts Culling / Stocktables.com Sort

Hot List

FORD NGPS SNHY

Dry Up Stocks

BCSI DCAI IIG NGPS TIE

Hot List Stocks Scores

FORD - 0
NGPS - 0
SNHY - 2

Dry Up Stocks Scores

BCSI - 0
DCAI - 2
IIG - 0
NGPS - 0
TIE - 0

Keep an Eye on These Stocks

DCAI (Attached)

<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=808047>
 

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How does IIG fall into the dry up category? The volume for IIG was above the upper band dry up level. Did you put it in the list because it was so close?

/* Thanks for the journal spyder */

P.S. Remember the earnings report coming out on monday for NGPS.
 
Quote from greyfox45:

How does IIG fall into the dry up category? The volume for IIG was above the upper band dry up level. Did you put it in the list because it was so close?
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According to the Web Site Version of The Hershey Chartscript, and Qcharts datasource using Wealth-Lab Developer, actual volume for IIG falls within the Upper Band. I suspect the differences result from the datasources themselves. We have seen these differences occur from time to time between various data vendors.

Quote from greyfox45:

/* Thanks for the journal spyder */
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Thank you for your interest.

Quote from greyfox45:

Remember the earnings report coming out on monday for NGPS.
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I appreciate the reminder.

- Spydertrader
 
2005-08-05, Friday - Update

This morning, I monitored one list of stocks (5 total equities): Those equities from our daily Hot List and from our Final Universe List finding themselves "In Dry Up."

Dry Up Stocks

BCSI DCAI IIG NGPS TIE

Our system generated two possible trade signals from the list of five Dry Up Stocks when actual volume exceeded calculated "Low Band" Dry Up Volume prior to 11:30 AM.

Dry Up Stocks Triggering Signal

TIE BCSI

Dry Up Stocks NOT Triggering Signal

DCAI IIG NGPS

TIE did not show price improvement ($61.90) at time of signal generation (10:47 AM). In addition, MACD Histogram showed a negative return (-.4822). Also, The Stochastic Indicator fell below desired levels (0.49). As a result, I took no action with respect to trading TIE.

BCSI did not show price improvement ($32.47) at time of signal generation (10:48 AM). In addition, MACD Histogram showed a negative return (-.3189). Also, The Stochastic Indicator fell below desired levels (12.50). As a result, I took no action with respect to trading BCSI.

- Spydertrader
 
Quote from jmwilk

Hi Ace,

Good Job ! SpyderTrader has achieved success here... Are you keeping RR @ 2:1 and also switching to fixed positioning as EQ increases...?

I am setting up a model for the basic system... No variants... I've had this one bookmarked for a year now... In the early stages Jack, Max, and Vorso started on a good note; however, SpyderTrader has taken this a step further... Organization, Discipline, Position Sizing, and Money Management all the essentials...!

Also, add this link to the tool box if you don't already use it...

http://finance.yahoo.com/q/ce?s=JUPM

JMWilk

PS: Good Luck and Good Trading !
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JM,

I haven't been doing much in the way of money management in the simulation that I'm doing for forward testing. I think you could extrapolate the results from such scenarios based only on the trade statistics and modelling in money management rules. Currently, I'm using fixed position sizing based on $1000 positions because I have a reasonably small account for this type of trading. I have been able to determine that a broker like Ameritrade or even ScottTrade that charges fairly high commissions (Ameritrade is $10.99) makes it very difficult to be profitable with such small positions. To trade with Ameritrade profitably (at my current paper trade success rate) you would need much larger positions. Commission simply takes to big a chunk out of each trade. I'm planning on making the switch to Interactive Brokers (IB).

I've been using much looser stops than Spyder and I'm not really using the 10% gain as a strict target price. What I've started trying to do is use a trailing stop after 4 days or +10% like an intraday 20p SMA on the 30 min chart or parabolic SAR as an exit. There's nothing magical to those particular indicators, they just look decent visually and they can keep you in a winning trade a little longer. So I'm giving them a shot. In Jack's writings he mentioned using a trailing stop method as an exit criteria. I never saw a great explanation of his trailing stop methodology, just some comments about it here and there.

I need to keep papertrading to develop further rules and develop some of the discretionary discipline.

I think SpyderTrader added the 4 day rule and the 10% target as his own tweak on the system. I think he also added the MM aspects like the % of equity position sizing based on risk of ruin. Is that true SpyderTrader?

I agree that SpyderTrader has definitely taken all the steps required to make a trading system work. If people take anything away from this thread at all it should be the idea of a disciplined routine to keep you focused on what you are trying to do. That lesson is worth reading each page of this thread. I've always know that was important, but its tough to put all those pieces together and see it clearly. Seeing someone else do it successfully helps me focus a little more on what I need to do each day.

Thanks for the link about company events. I hadn't seen that page on Yahoo before, though I have used their profile page and many of the links attached to it. Never noticed the "Company Events" link before.

Good trading to you.

-ace
 
Quote from acesheet:

Currently, I'm using fixed position sizing based on $1000 positions because I have a reasonably small account for this type of trading.
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Determining the best broker to meet your trading needs remains a matter of personal choice. However, if high commissions relative to your account size cause you concern, you might check out the fee structure over at MBT. Sign up for a test drive with a demo account to see how their software suits your trading style.

Quote from acesheet:

I think SpyderTrader added the 4 day rule and the 10% target as his own tweak on the system. I think he also added the MM aspects like the % of equity position sizing based on risk of ruin. Is that true SpyderTrader?
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Yes, I did add the money management feature (and 4 day hold time) to Jack's Equities Trading System. However, good money management remains one of the Hallmarks of trading success. A variety of methods exist to aid the trader in protecting capital. I cannot recommend highly enough the importance of choosing a sound money management technique before beginning to trade with real money.

Quote from acesheet:

In Jack's writings he mentioned using a trailing stop method as an exit criteria. I never saw a great explanation of his trailing stop methodology, just some comments about it here and there.
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Jack uses what he calls a "Stop Offset" method for setting his stop. I have attached a copy of a document describing Jack's Technique.
 

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Quote from oddiduro:

Do you take signals intrabar, or do you wait until the end of a bar to evaluate a signal?
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As soon as volume exceeds the low band threshold, I make a buying decision. I do not wait for the close of the current bar.

- Spydertrader
 
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