Spydertrader's Jack Hershey Equities Trading Journal III
- Thread starter Spydertrader
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Question:
Was IVAC in the universe at one time, or am I confusing it with IAAC?
Thoughts:
The more I study, learn and implement the method taught here, the more I realize it pays to keep an eye on the universe stocks that you traded in the past as well as your tenured stocks.
I would have completely ignored GIGM strictly following the rules when I first started in January. Due to an alert system I have on every tenured, universe, and daily watch list stock, I was able to get into GIGM at my excellent entry posted previously just before the pop.
RE: chart examples that are keeping some out of certain trades. I don't have an easy answer. On the one hand, looking at the daily and the 30 min has saved me from making a trade, but a strict observation of the channels might have kept me out of a trade as well. Personally, I would give more importance to price and volume for my morning entries, and then manage the trade via channels and S/R after the entry. Just an observation.
Was IVAC in the universe at one time, or am I confusing it with IAAC?
Thoughts:
The more I study, learn and implement the method taught here, the more I realize it pays to keep an eye on the universe stocks that you traded in the past as well as your tenured stocks.
I would have completely ignored GIGM strictly following the rules when I first started in January. Due to an alert system I have on every tenured, universe, and daily watch list stock, I was able to get into GIGM at my excellent entry posted previously just before the pop.
RE: chart examples that are keeping some out of certain trades. I don't have an easy answer. On the one hand, looking at the daily and the 30 min has saved me from making a trade, but a strict observation of the channels might have kept me out of a trade as well. Personally, I would give more importance to price and volume for my morning entries, and then manage the trade via channels and S/R after the entry. Just an observation.
Another observation on charts:
I thought some more about this issue of chart examples that prevent trades, and decided I might have something that can be adopted and modified by anyone.
The following assumes you have followed all of the steps outlined and discussed in great detail by Spydertrader. After doing all of that and having your DU stocks for the day, do the following.
First, look at the daily and 30 min utilizing whichever indicators you like. Write down every stock that looks promising to you for a buy today if all you had to go on was activity as of yesterday's close.
Second, utilizing the wealth-lab.com chartscripts detailed here, look at the chart generated, in particular visually inspecting for the MACD setup Spydertrader discussed earlier regarding stocks that are about to pop to the upside. Make a note of every stock that looks promising.
Third, combine the list you have created in steps one and two, and setup alerts for each of them.
Fourth, open up a 5 min and a 30 min chart with the settings detailed by Spydertrader, and watch each stock waiting for price and volume to start revealing the story.
Fifth, by this time, you've picked and are focused only on the creme de la creme. My personal opinion is that you could buy equal amounts of this list and call it a day, waiting to make exit decisions the next day or even several days later. However, that is not the strict method, so simply wait for the volume and price triggers discussed in great detail here and make your buys.
Hopefully the above has been helpful. My personal experience is that as long as the wealth-lab chart shows that the stock is inside or beginning that MACD signal Spydertrader mentioned, and as long as the 30 min and the 5 minute are bullish, I can buy within the first hour of trading and walk away, making exit decision the next day.
I thought some more about this issue of chart examples that prevent trades, and decided I might have something that can be adopted and modified by anyone.
The following assumes you have followed all of the steps outlined and discussed in great detail by Spydertrader. After doing all of that and having your DU stocks for the day, do the following.
First, look at the daily and 30 min utilizing whichever indicators you like. Write down every stock that looks promising to you for a buy today if all you had to go on was activity as of yesterday's close.
Second, utilizing the wealth-lab.com chartscripts detailed here, look at the chart generated, in particular visually inspecting for the MACD setup Spydertrader discussed earlier regarding stocks that are about to pop to the upside. Make a note of every stock that looks promising.
Third, combine the list you have created in steps one and two, and setup alerts for each of them.
Fourth, open up a 5 min and a 30 min chart with the settings detailed by Spydertrader, and watch each stock waiting for price and volume to start revealing the story.
Fifth, by this time, you've picked and are focused only on the creme de la creme. My personal opinion is that you could buy equal amounts of this list and call it a day, waiting to make exit decisions the next day or even several days later. However, that is not the strict method, so simply wait for the volume and price triggers discussed in great detail here and make your buys.
Hopefully the above has been helpful. My personal experience is that as long as the wealth-lab chart shows that the stock is inside or beginning that MACD signal Spydertrader mentioned, and as long as the 30 min and the 5 minute are bullish, I can buy within the first hour of trading and walk away, making exit decision the next day.
Attached you'll find an access database I've created to help with culling symbols based on fundamental parameters. Given a list of symbols and the fundamental data listed in the users .doc file, it eliminates any stocks which don't meet the culling criteria (also in the users .doc file.)
It's designed to work with QCharts, but if you have another source which will permit you to create .csv files with the necessary fundamental data then it should work fine.
READ AND FOLLOW THE INSTRUCTIONS CAREFULLY!
This program is provided "as is" - there is no technical support whatsoever with it. None. Zilch. Nada.
If you want to make changes to the underlying VBA code or SQL statements, feel free.
-Au
It's designed to work with QCharts, but if you have another source which will permit you to create .csv files with the necessary fundamental data then it should work fine.
READ AND FOLLOW THE INSTRUCTIONS CAREFULLY!
This program is provided "as is" - there is no technical support whatsoever with it. None. Zilch. Nada.
If you want to make changes to the underlying VBA code or SQL statements, feel free.
-Au
IVAC was in the Final Universe at one time I do believe.
- Spydertrader
the video list at www.traderuniverse.info/hersheyvideos.htm lists Jan 25 avi file but I found only charting 101 avi file after log in, where are the rest? anybody know?
You didn't go far enough. Double click on the "Meeting Videos" folder. They're all there
Quote from gooch87:
Here is an evaluation of FTEK. I am anticipating a short day trade, but we will have to see what the market says.
<img src="http://www.elitetrader.com/vb/attachment.php?s=&postid=1354064">
Thanks for posting your thoughts. I agree, FTEK will drop most likely. Hopefully we will see it hit FRV with increase red vol from previous day to confirm. Also I will be looking for the stock to hold below 20 on the slow stoh to confirm continued weakness. Hopefully it won't gap down pre market like many other stocks have in the last couple of days. GL
- Monkman
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