Spydertrader's Jack Hershey Equities Trading Journal III

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I meant to warn everyone that TBSI is extremely volatile .... but a casual glance at today will let you know that.

What I mean by the above is that some of the symbols we've dealt with almost behave as if they are completely obedient to the jockey, being guided into the gate, just waiting for the start. While others are running around the track refusing to enter the gate.
 
Quote from tradingbug:

I was thinking of trying this and was wondering if you keep the float criteria of 5-30 mill shares or do you have a different parameter. Thanks.
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I keep the float criteria. Fewer shares - easier for it to move either way.
 
Quote from LostTrader:

I am looking for input on a choice of software…

I have decided to change my software to acquire scripting and back-testing functions. Primary consideration has been AmiBroker, with IQFeed and MBTrading. I also considered TradeStation, and lately, I was surprised to discover I have been leaning towards TradeStation (providing all 3: software, data feed, and brokerage). It is my impression that as long as I am learning new software and a new language, TS EasyLanguage is a bit easier to learn. The monthly fees are actually less with TS (as long as I continue to trade at my current rate so the platform, i.e. software, is free). TS also now claims historical fundamentals which may help back-testing.

I’ve been crawling through Wealth-Lab scripts, AmiBroker scripts, and has collected snippets of TS code, many thanks to folks here. Studying these helps my learning curve no matter which language I end up using.

First application is the Hershey Equities method. Once that part is running smoothly, I intend to study the futures strategies. I currently use QuoteTracker and manually execute trades based on visual interpretation and a few alerts.

Any comments, critiques, or rotten tomatoes? I am ready, bring it on! :)
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Amibroker w/iqfeed is a great combo. I use it as a backup for Qcharts, and works really nicely. Plus amibroker is dirt cheap for what it does, but be prepared to write your own code for some of the settings. The built in GUI options are somewhat limiting.

- Monkman
 
First post to the Journal. Just got done reading journal's I and II. and starting on III. For anyone starting out make sure you check out the documents and Hershey videos.

Aside from that I had a question about CECE. We had a signal a few days ago, but it was earnings I know. On Jack's videos he talks about being a parasite to the smart money. The smart money went up so did volume before the earnings results. The earnings were up according to the SEC release, but I held on and now the stock is down 10%. Any ideas? Why does Jack refrain from trading around earnings dates... the signals should be the same no matter what.?

Spydertrader.. do you know whatever happend to G33MK? He seemed to really be onto something with the MACD, but then he sort of disappeared from the journal.

Thanks everyone for the great journals. I'm learning alot.
 
Quote from Amille28:

Spydertrader.. do you know whatever happend to G33MK? He seemed to really be onto something with the MACD, but then he sort of disappeared from the journal.

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I think G33MK = MAK
He's still around but doesn't post as often.

Good trading
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Quote from Amille28:

Why does Jack refrain from trading around earnings dates... the signals should be the same no matter what.?
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Beginner Level Traders should avoid trading in environments where the level of risk increases. Earnings dates represent one of those areas. As such, I recommend Beginnig Level traders avoid entering into a position where a stock has an Earnings Date close to trade signal. One need look no further than the many pages of these Journals to find examples of individuals who regretted heading this advice.

- Spydertrader
 
MTOX doesn't look like a quality stock (even if it is in the Final Universe). For whatever reason its price and volume took off when it reported in April, then its price plummeted when it reported in July. Its weekly chart is pointed down, and its price doesn't seem to cycle (at least lately). It is a small, thinly traded company, and I wouldn't touch it. There's only one analyst following MTOX and he has a moderate buy on it.

Even if today's bar up (+11% after an equal drop yesterday) proved to be an FTT, it is more likely to be a retracement than a traverse of a reversal, so it'd be more difficult to trade.

But you made me curious enough to keep an eye on it for the next few days. :)
Quote from PointOne:

What do you guys think of this MTOX chart?
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