Spydertrader's Jack Hershey Equities Trading Journal III

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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


Thanks for the wakeup call. I read this I don't know how many times in the Journal.. it just didn't register until a few hershey videos ago. Especially the one where you're yelling at everyone to read the journals.

Lesson, earnings can go up, but if they don't go up as much as the analyists say they should the stock tanks. Sound right?

I'm new and just playing with a few hundred bucks. It is more important for me to learn the lesson the hard way than to just sit there, as many do satisfied with their 10% return year after year. This stuff is really a gem.

Thanks everyone for the positive support.
If there is a way I can help let me know.

Aaron,
former Edward Jones Rep
 
Spyder,

2 thoughts,

first, I was wondering if scanning our dry up stocks for hitches, dip, or stalls and then looking for volume BO and continuation would be a good progression in ones trading for better profits. I have hit a plateau in terms of learning and trying to further my knowledge and trading possibilites.

Second, for trading from ftt of a short trend to a ftt of a long trend(pt 1 to pt2), we look for dec vol toward the retrace and approcaihng of the rtl and then a BO in vol (B2B) on the BO of the TL. From my understanding, the pace of the move is usually dependent on the Vol BO and we do not know the pace of the move until the BO in vol happens. my thought process is in order to make the most profits per time....we would like to know the pace....which does not happen until after the retrace and until the Inc B vol kicks in. So we get in on a ftt hoping that when the vol B2B kicks in that we have high vol and a fast pace pt 1 to pt 2 move. This seems like shooting at a flock of birds out of the sky and hitting a bird but not knowing the specific weight of the bird that we are going for compared to sizing up the Big bird you want to shoot out of the flock and hitting it. One way that might be able to solve this may be the 20% cycles in 5 months but i am not sure if this solves the problem...just a thought.

Anyway, just hoping we can get a good discussion going.....

GL this week to everyone

JC
 
Question:

I'm trying to automate this with IB TWS platform.

Has anyone successfully coded orders using the criteria used in Journal 1?

Namely:
buy once volume exceeds the low band threshold for an equity
price is higher than previous day
MACD Histogram is positive
Stochastics (%K) is above 80

Or can anyone recommend another software that can do and put orders in? I've already tried unsuccessfully with Wealthlab.

Thanks
 
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