Spydertrader's Jack Hershey Equities Trading Journal III

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Quote from mdl060374:

Can this be elaborated on?
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It can, and It has.

If memory serves, I believe I provided great detail as to why I made the change - including how one goes about the entire process. I encourage you not to skip around while "wading through the various Journals." The same questions you have now, others had before you. As a result, you'll find these questions answered numerous times. No need to jump ahead. You only short change the learning process by doing so.

- Spydertrader
 
Quote from mdl060374:
Can this be elaborated on?
I am enjoying this journal(s) and am anxious to learn as much as I can, and thank those who have been participating, to help us learn.
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I don't mean to sound prim, but I don't think there's any substitute for doing the legwork. I went through Journal I with a highlighter and then went back to read the highlighted bits again, working backward from the end so that I started with the "conclusions" as it were. I found this gave me a pretty good understanding. In one way this was an immense pain in the neck because it takes time and it produced literally hundreds of pages of printed matter. On the other hand I did come away with a valuable insight into how Spyder (in concert with others here) evolved the method from the original starting point. I am currently plucking up the courage to start Journal II. I know it seems intimidating, but just plunge in and read.

Suss
 
Quote from Susukino:

I don't mean to sound prim, but I don't think there's any substitute for doing the legwork. I went through Journal I with a highlighter and then went back to read the highlighted bits again, working backward from the end so that I started with the "conclusions" as it were. I found this gave me a pretty good understanding. In one way this was an immense pain in the neck because it takes time and it produced literally hundreds of pages of printed matter. On the other hand I did come away with a valuable insight into how Spyder (in concert with others here) evolved the method from the original starting point. I am currently plucking up the courage to start Journal II. I know it seems intimidating, but just plunge in and read.

Suss
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I'll have to second this. I have no proof to offer but I believe the people who write knowledgeably here in Journal III have all at least read Journal I at a minimum and probably all three journals. At least that is what I have gathered during my readings (yes, readings) of journals I, II, and III.

The only extra tidbit I can think of that I learned via experience is carefully plan out your profit targets and your sell stops. Also if you are going to let one of these universe stocks run, take a look at what BIDU did since I got in at 307.30 on 02 October 2007. Yep, an incredible gain, and an incredible loss if you weren't managing the trade. All I can say is thank God for stops.

Yes, yes, BIDU isn't in the universe. I'm just offering BIDU as a cautionary example of what some of these universe stocks can and will do.

Final point to anyone wondering about shortcuts. If you can't take the time to study all three journals, I think you have already found your answer. Stop now and put it all in a CD at the bank.
 
Quote from WGTrader:

Pre-market activity in my watch list. Activity in JADE. Maybe yesterday wasn't enough!
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Gee, can't keep my curiosity under control :D

Front volume and back volume :eek:

What does that mean?



By the way I nearly finished a replica of the screens you posted yesterday. I'm using Excel linked to IB TWS; I'm not that much into programming , thus building an application like that is out if my league, but excel does its job nicely.
Thanks for the inspiration :)
 
Quote from johnpinochet:

[Final point to anyone wondering about shortcuts. If you can't take the time to study all three journals, I think you have already found your answer. Stop now and put it all in a CD at the bank.
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It has nothing to do with "shortcuts," laziness, or getting instant gratification.

I just didnt know if certain info was outdated, and not worth focusing on since it seemed the method evolved.

Efficient learning isnt wanting to be spoonfed, and who said I didnt have the time to study the journals?

Anyway, I apprecaite the earlier responses to my question.Now my questions were addressed, and will continue to go through all the journals. I have already learned alot, and will continue to do so.

THis is easily the most beneficial thread in ET I have seen in a long time.
 
Quote from mark1:

Gee, can't keep my curiosity under control :D

Front volume and back volume :eek:

What does that mean?



By the way I nearly finished a replica of the screens you posted yesterday. I'm using Excel linked to IB TWS; I'm not that much into programming , thus building an application like that is out if my league, but excel does its job nicely.
Thanks for the inspiration :)
More...

I trade mostly options. The front vol means the front month implied volatility. The back vol is the back month implied volatility. This information is especially good to know when assessing how much premium you can expect from selliing options as well as assessing which strategies to use (i.e. calendar, butterfly, etc.). Glad you found it inspirational.
 
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