Spydertrader's Jack Hershey Equities Trading Journal III
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Quote from Huskydog:
I picked up 1000 at 9.029. I am watching to see if FRV is met at EOD. I think it is acting well after getting over the high of the consolidation, but I'll let the market tell me if I'm right.
Nice trade!
I took a bit of a beating today, here is the summary:
NVEC - 1.00 loss. Closed it because the price was behaving poorly, and it looks like a possible FTT of the new, smaller upward channel to me.
COGO - .60 loss, reason's above.
SIM - sold for a wash for not meeting FRV.
DXPE - I'm continuing to hold because it is right at the RTL of the down channel after a possible FTT.
GIGM - I sold for a small loss for not meeting FRV
Thanks,
TNG
Today's summary:
--bot 700 COGO at 19.55, sold 700 at 19.32 for previously state reason;
--bot 400 NVEC at 30.942, sold 400 at 30.243 because FRV not met, I was under water on the position, and I didn't like the spot in the channel that I as long at;
--bot 400 DXPE at 32.4269, holding postion do to thenewguy's stated reason
-- bot 1000 BITS at 9.029 in my work account, FRV met, and interestingly enough, all the Hershey requirements were met (except for volume, which came in at EOD) at time of purchase at 13:56:59;
-- bot 1600 BITS at 9.19 at EOD, FRV met as well as stochastic, MACD, price imrovement, and stock looks like it is emerging from consolidation.
Note: all purchases are in my thinkorswim (ToS) account unless otherwise noted.
Commentary is always appreciated.
- Huskydog
--bot 700 COGO at 19.55, sold 700 at 19.32 for previously state reason;
--bot 400 NVEC at 30.942, sold 400 at 30.243 because FRV not met, I was under water on the position, and I didn't like the spot in the channel that I as long at;
--bot 400 DXPE at 32.4269, holding postion do to thenewguy's stated reason
-- bot 1000 BITS at 9.029 in my work account, FRV met, and interestingly enough, all the Hershey requirements were met (except for volume, which came in at EOD) at time of purchase at 13:56:59;
-- bot 1600 BITS at 9.19 at EOD, FRV met as well as stochastic, MACD, price imrovement, and stock looks like it is emerging from consolidation.
Note: all purchases are in my thinkorswim (ToS) account unless otherwise noted.
Commentary is always appreciated.
- Huskydog
Any ideas or forum references for managing exits in an "next day" fashion? My main reason for dedicating a portion of my trading account to this method is to get away from constantly watching the screen. I can give it maybe 3 - 4 hours in the AM (CST) but not more than that.
In any event, I think I'd like to handle exits the next day regardless as I believe from reading here and the previous journal, many are exiting way too early. After all the original premise was the stock cycling over a period of days
I've kept all of my positions so far and added DXPE, but I don't have the price handy.
So far I'm up on everything (almost) and I believe I've approached or surpassed 5% on average.
NVEC continues to puzzle and COGO looks like it will be a companion to NVEC.
In any event, I think I'd like to handle exits the next day regardless as I believe from reading here and the previous journal, many are exiting way too early. After all the original premise was the stock cycling over a period of days
I've kept all of my positions so far and added DXPE, but I don't have the price handy.
So far I'm up on everything (almost) and I believe I've approached or surpassed 5% on average.
NVEC continues to puzzle and COGO looks like it will be a companion to NVEC.
I've struggled with this as well and often can't monitor after the early morning hours. I'm a newbie so take this with a grain of salt.
Jack had suggested somewhere that the daily stoch 14,1 dropping below 80 was a sign to get out - I found that exiting on the daily macd crossing back down keeps me in longer - sometimes holding for a loss, but staying in more often for larger gains. I rationalize because he also mentioned that the MACD was much more powerful as a tool than the stochastic, which I've noticed to be true. Not exactly by the rules but seems to be working ok for me.
What I've been doing is calculating where the MACD would cross and setting a stop there for times when I can't monitor. You could do the same thing for the Stochastic (although it might be a little harder because there are more variables (H/L/C)).
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