Spydertrader's Jack Hershey Equities Journal
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Hello Spydertrader,
see, I have subscribed to ET now, still reading through the thread. Currently I am @ posting #101 so it will take another couple of days until I am "up to date".
I will actively take part in this discussion. Maybe I can also help a little bit concerning wealth-lab as I have written a number of scripts as you can see on the wealthlab website
CU guys
see, I have subscribed to ET now, still reading through the thread. Currently I am @ posting #101 so it will take another couple of days until I am "up to date".
I will actively take part in this discussion. Maybe I can also help a little bit concerning wealth-lab as I have written a number of scripts as you can see on the wealthlab website
CU guys
Spydertrader,
I am not sure but somwhere in your journal I read ...
a) that if a stock out of your hotlist hadn´t reached (in older version DU or prorata DU) lower DU Band before 11 30 then there is no signal. Only when the stock reaches FRV till EOD then it is a signal at the next open?
b) price confirmation - price must rise over last ... Close - Last Close of the day or the last 30 minute bar?
c) you tried many exit variants - which exit variant do you use today?
d) you use a 5 % stop. How often do you adjust your stop provided the price is rising? Every 30 minutes ??
I think you was told this again and again - but I think your journal is the best on ET - I appreciate your work!!!
I would like to test this approch in other markets - uk, germany, canada provided I find data providers like stocktables.com for this markets. If someone knows let me know!!
Best regards, Helmut
I am not sure but somwhere in your journal I read ...
a) that if a stock out of your hotlist hadn´t reached (in older version DU or prorata DU) lower DU Band before 11 30 then there is no signal. Only when the stock reaches FRV till EOD then it is a signal at the next open?
b) price confirmation - price must rise over last ... Close - Last Close of the day or the last 30 minute bar?
c) you tried many exit variants - which exit variant do you use today?
d) you use a 5 % stop. How often do you adjust your stop provided the price is rising? Every 30 minutes ??
I think you was told this again and again - but I think your journal is the best on ET - I appreciate your work!!!
I would like to test this approch in other markets - uk, germany, canada provided I find data providers like stocktables.com for this markets. If someone knows let me know!!
Best regards, Helmut
2005-04-28, Thursday - Update
The following commentary pertains to the use of The Jack Hershey Wealth-Lab Chartscript Culling Methodology as described in previous posts. As previously indicated, this automated culling methodology remains in the development and testing phase. As a result, I have taken no trades based on these methods - irrespective of signal generation.
This morning I monitored two lists of stocks (16 total equities): Those equities finding themselves "In Dry Up" and and the remaining equities from this morning's Hot List (not "In Dry Up").
Dry Up Stocks
DCAI EXM EZPW JUPM MFLX SIGM TASR
Remaining Hot List Stocks
ELOS FORD GDP MCRI PARL SNDA TRGL USG XXIA
Our system failed to generate any possible trade signals from the list of seven Dry Up Stocks as actual volume failed to exceed calculated "Low Band" Dry Up Volume prior to 11:30 AM for all equities (7) in this group.
Dry Up Stocks Triggering Signal
None
Dry Up Stocks NOT Triggering Signal
DCAI EXM EZPW JUPM MFLX SIGM TASR
For the nine Remaining Hot List Stocks, we also witnessed the generation of numerous possible trade signals - four in all. I have outlined these signals below.
No Signal
ELOS MCRI PARL SNDA XXIA
The following equities triggered a trade signal when actual volume exceeded calculated "Low Band" Dry Up Volume. However, we eliminated them from further consideration based on the reasons outlined below.
No Price Improvement
GDP TRGL
Failed Stochastic Confirmation
USG FORD
I hope you find the above information useful.
- Spydertrader
The following commentary pertains to the use of The Jack Hershey Wealth-Lab Chartscript Culling Methodology as described in previous posts. As previously indicated, this automated culling methodology remains in the development and testing phase. As a result, I have taken no trades based on these methods - irrespective of signal generation.
This morning I monitored two lists of stocks (16 total equities): Those equities finding themselves "In Dry Up" and and the remaining equities from this morning's Hot List (not "In Dry Up").
Dry Up Stocks
DCAI EXM EZPW JUPM MFLX SIGM TASR
Remaining Hot List Stocks
ELOS FORD GDP MCRI PARL SNDA TRGL USG XXIA
Our system failed to generate any possible trade signals from the list of seven Dry Up Stocks as actual volume failed to exceed calculated "Low Band" Dry Up Volume prior to 11:30 AM for all equities (7) in this group.
Dry Up Stocks Triggering Signal
None
Dry Up Stocks NOT Triggering Signal
DCAI EXM EZPW JUPM MFLX SIGM TASR
For the nine Remaining Hot List Stocks, we also witnessed the generation of numerous possible trade signals - four in all. I have outlined these signals below.
No Signal
ELOS MCRI PARL SNDA XXIA
The following equities triggered a trade signal when actual volume exceeded calculated "Low Band" Dry Up Volume. However, we eliminated them from further consideration based on the reasons outlined below.
No Price Improvement
GDP TRGL
Failed Stochastic Confirmation
USG FORD
I hope you find the above information useful.
- Spydertrader
If volume fails to exceed Dry Up Volume ("Low Band, Pro-rata, or any other method of Dry Up Volume calculation) prior to 11:30 Am, then we have no signal. If volume reaches FRV levels by EOD, then we have a signal to enter into a long position (assuming Price, MACD & Stochastics confirm) on the day volume exceeded FRV levels.
Using Jack hershey's PVAD Formula, we compare price to the Previous Day Close (PDC). Some data providers refer to this as "Last Trade or Close."
Currently, I allow price to take out my stops (trailing) or I exit when profit targets have been reached. On occasion, I have used the "Time Stop" to exit after 4 days with no significant price appreciation. I continue to test various exit strategies to optimize returns.
After watching price trigger my trailing stop last week, only to move lower during a short opportunity, I decided to adjust my stops at EOD for lower priced equities. For higher priced equities, I still adjust the stops with each improvement in price.
Thank-you for the kind words. However, I credit the success of this Journal to the many individuals that have shared their ideas, efforts and contributions on a regular basis.
Let us know your results as well.
I hope you find the above information helpful.
- Spydertrader
Thank-you, dajester147, for the post and for your observations regarding the benefits of reading The Journal.
Again, I appreciate the kind words.
Quote from odelys:
See, I have subscribed to ET now, still reading through the thread. Currently I am @ posting #101 so it will take another couple of days until I am "up to date". I will actively take part in this discussion. Maybe I can also help a little bit concerning wealth-lab as I have written a number of scripts as you can see on the wealthlab website
I look forward to your future posts and any assistance with Wealth-Lab. Feel free to post any questions you might have.
- Spydertrader
2005-04-29, Friday - Lists
Hershey Wealth-Lab Chartscript Culling Methodology
Hershey Chartscript Scans / Qcharts Culling / Stocktables.com Sort
Hot List
DCAI ELOS FORD GDP MCRI MFLX SNDA TRGL USG XXIA
Dry Up Stocks
DCAI ELOS EZPW JUPM MFLX PARL TASR XXIA
Hot List Stocks Scores
DCAI - 0
ELOS - 2
FORD - 5
GDP - 2
MCRI - 2
MFLX - 3
SNDA - 0
TRGL - 2
USG - 5
XXIA - 5
Dry Up Stocks Scores
DCAI - 2
ELOS - 5
EZPW - 0
JUPM - 2
MFLX - 0
PARL - 0
TASR - 0
XXIA - 0
Keep an Eye on These Stocks
COGT (Attached)
<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=738699>
Hershey Wealth-Lab Chartscript Culling Methodology
Hershey Chartscript Scans / Qcharts Culling / Stocktables.com Sort
Hot List
DCAI ELOS FORD GDP MCRI MFLX SNDA TRGL USG XXIA
Dry Up Stocks
DCAI ELOS EZPW JUPM MFLX PARL TASR XXIA
Hot List Stocks Scores
DCAI - 0
ELOS - 2
FORD - 5
GDP - 2
MCRI - 2
MFLX - 3
SNDA - 0
TRGL - 2
USG - 5
XXIA - 5
Dry Up Stocks Scores
DCAI - 2
ELOS - 5
EZPW - 0
JUPM - 2
MFLX - 0
PARL - 0
TASR - 0
XXIA - 0
Keep an Eye on These Stocks
COGT (Attached)
<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=738699>
Hi all,
Still going he.
Still going he.
Hi Spydertrader,
nearly got it, currently reading #162. Wow, now it took me 3 complete days to read through all that stuff. By the way you may know that my 'preferred' language definitely is NOT English, but on the other hand I am able to improve it reading everything...
Oky doky, yeah I ve got plenty of new questions, sure, but give me another few days to sort and organize everything. Actually, I've already got some sort of ideas how to improve some of the wealthl-lab scripts. If the suggestions are good or not, we will see then.
Finally I must say this journal is the best thread concerning stocks and systems I read in the last couple of years - if I ever found a better one (I'm in doubt).
CU
nearly got it, currently reading #162. Wow, now it took me 3 complete days to read through all that stuff. By the way you may know that my 'preferred' language definitely is NOT English, but on the other hand I am able to improve it reading everything...
Oky doky, yeah I ve got plenty of new questions, sure, but give me another few days to sort and organize everything. Actually, I've already got some sort of ideas how to improve some of the wealthl-lab scripts. If the suggestions are good or not, we will see then.
Finally I must say this journal is the best thread concerning stocks and systems I read in the last couple of years - if I ever found a better one (I'm in doubt).
CU
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