if we are making a nice short term up move in the market....GLDN tested last marches low and now might be a good candidate for a buy.
Spydertrader's Jack Hershey Equities Trading Journal III
- Thread starter Spydertrader
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great trades rick. You are really surfing the market 
GLDN looks like a dog....another possible learning experience.
GLDN looks like a dog....another possible learning experience.
I finally had my AHA moment regarding the FTT and how to use for entry. Although I did understand what the FTT was I was not applying it to the right frame of mind. When i finally was able to change my thinking i finally realized how we are truly supposed to use the FTT.
Anyways, for those that are still trying to profit from the FTT i will attempt to explain how i finally got it. This may be obvious to some with all the information that spyder has provided, but i hope i might be able to help some others that are still trying to have that AHA moment.
My problem was not knowing what an FTT was it was simply not knowing how to apply it to my entries. It is very easy to see an FTT in hindsight and easy to label in a chart well after the fact. The problem comes from being able to recognize an FTT when it is forming and then entering as soon as you see it. Once you see an FTT you then look for the market to confirm what you antcipated. Therefore, if the market does what was expected you can hold, and if it doesnt then exit. The goal would be to profit a little bit from the moves that do not confirm what you anticpated and profit alot form the moves that do confirm what you anticipated.
The process that i came to realize is that you need to see that there may be a possible upcoming FTT, so you enter, then you hold/exit based on what happens next.
The process of normal entry is: signal-->confirmation-->entry. Where as with the FTT it is: signal--->entry--->confimation. This is at least how i have come to understand it and how i finally had my AHA.
I know that this may seem strange to those that dont quite get it yet, just continue to re-read all the notes and study the charts and it will finally happen, it took me awhile.
Anyways, for those that are still trying to profit from the FTT i will attempt to explain how i finally got it. This may be obvious to some with all the information that spyder has provided, but i hope i might be able to help some others that are still trying to have that AHA moment.
My problem was not knowing what an FTT was it was simply not knowing how to apply it to my entries. It is very easy to see an FTT in hindsight and easy to label in a chart well after the fact. The problem comes from being able to recognize an FTT when it is forming and then entering as soon as you see it. Once you see an FTT you then look for the market to confirm what you antcipated. Therefore, if the market does what was expected you can hold, and if it doesnt then exit. The goal would be to profit a little bit from the moves that do not confirm what you anticpated and profit alot form the moves that do confirm what you anticipated.
The process that i came to realize is that you need to see that there may be a possible upcoming FTT, so you enter, then you hold/exit based on what happens next.
The process of normal entry is: signal-->confirmation-->entry. Where as with the FTT it is: signal--->entry--->confimation. This is at least how i have come to understand it and how i finally had my AHA.
I know that this may seem strange to those that dont quite get it yet, just continue to re-read all the notes and study the charts and it will finally happen, it took me awhile.
Mischief, I am in process of switching to Amibroker, for the programmability and backtesting functions. I've been reading the journals and paper-trading but really want the automation eventually.
I've downloaded your posted scripts and plan to start with them. Thank you for sharing! Would you mind sharing your latest?
The initial goal is to have AB tell me (instead of broker) what order to enter and I manually place order. I have the impression that your scripts are at this point already (and beyond)... TOS does not have an API to receive orders from 3rd party (i.e., AB) software. They say they are working on an API for their own SW...
I figure by the time I have this first part going, either they will have an API or I change brokers.
You mentioned switching from IB to IQfeed, probably better quality.
IB is not an option for me, and IQ will have to wait for a while... ($$). At this moment I have EOD from TC (they won't share real-time) and RT via QuoteTracker & OptionsXpress but no back-fill. Is it feasible to start with this? I would appreciate being able to discuss this with you off-line if you prefer...
Thanks!!
Maxey, aka Lost Trader
Hello All
I've read the journal material and background documentation. I am comfortable with FTT, channels, but am struggling with the identification of the Hot List.
My problem is the following:
In following the instructions from Journal I, I have
1. Run the stocktables scan to come up with my Initial Universe (87 stocks). I used the RS, EPS, and price parameters Spyder recommends.
2. Placed these stocks in a watch list
3. Run this watch list against Hershey Equity Scan v. 1.0.0
I receive no results ('No Alerts') from the WealthLab scan.
Is this normal?
Thanks in advance.
I've read the journal material and background documentation. I am comfortable with FTT, channels, but am struggling with the identification of the Hot List.
My problem is the following:
In following the instructions from Journal I, I have
1. Run the stocktables scan to come up with my Initial Universe (87 stocks). I used the RS, EPS, and price parameters Spyder recommends.
2. Placed these stocks in a watch list
3. Run this watch list against Hershey Equity Scan v. 1.0.0
I receive no results ('No Alerts') from the WealthLab scan.
Is this normal?
Thanks in advance.
If this is the Hershey Equities Rank Scan located here, then yes, you may have many stocks which do not have Rank.
Please use the following Final Universe in your scan, and note the different results.
- Spydertrader
Final Universe
BTJ CECE CHDX CYNO DRYS FRG GMKT GROW GRRF IAAC IIG JADE JSDA LEND MEH MTOX NCTY NGA OMTR PRXI ROCM SNCR SYNL SYX TRCR
My apologies for appearing so dense...
How did you arrive at that Final Universe?
What confuses me is that when I run Hershey Equities Rank SCAN v. 1.0.0 against the stocktables-generated query, I receive no results. I would have expected to have seen your Final Universe List, plus a few that did not meet the below criteria:
1. Have a float less than 60,000,000
2. Have a float greater than 5,000,000
3. Have a 65-day average volume above 200,000 shares
4. Have positive EPS
(I did run the Hershey Equities Dry Up Volume Scan v. 1.0.0 against your Final Universe, and received back those stocks in Dry Up). Next step would be to run Hershey Equities Rank v. 3.0.0
Thanks in advance.
How did you arrive at that Final Universe?
What confuses me is that when I run Hershey Equities Rank SCAN v. 1.0.0 against the stocktables-generated query, I receive no results. I would have expected to have seen your Final Universe List, plus a few that did not meet the below criteria:
1. Have a float less than 60,000,000
2. Have a float greater than 5,000,000
3. Have a 65-day average volume above 200,000 shares
4. Have positive EPS
(I did run the Hershey Equities Dry Up Volume Scan v. 1.0.0 against your Final Universe, and received back those stocks in Dry Up). Next step would be to run Hershey Equities Rank v. 3.0.0
Thanks in advance.
hi everyone, I stumbled on to this forum when googling and read quite a few of the past threads about jack's methods. So strating reading up and liked Journal 1, am still going through Journal 2. Have been making notes as I go and I must say its very interesting and hopefully I will start using this method to trade shortly although I have been trading for the past two years but they were all long term investments in blue chips.
Just a quick question, can this method be applied to ASX ? As I am from sunny Queensland, Australia , the US market timing are fairly late in the night for me and trading the ASX is good for my sleep as well as family.
Another question: I currently use Amibroker and saw some AFLs posted by mischief, are they complete by themselves or do I need to use external website to scan for DU stocks and then check them in Amibroker. Is there a video tutorial of someone actually going through the whole process ? I saw a couple of links before but they were all dead.
thanx heaps to everyone who have contributed their time and knowledge.
Just a quick question, can this method be applied to ASX ? As I am from sunny Queensland, Australia , the US market timing are fairly late in the night for me and trading the ASX is good for my sleep as well as family.
Another question: I currently use Amibroker and saw some AFLs posted by mischief, are they complete by themselves or do I need to use external website to scan for DU stocks and then check them in Amibroker. Is there a video tutorial of someone actually going through the whole process ? I saw a couple of links before but they were all dead.
thanx heaps to everyone who have contributed their time and knowledge.
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