Spydertrader's Jack Hershey Equities Trading Journal III

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Quote from Munck:


Cipherscribe,
check out the IBD videoes from may and june 2007. They give a pretty good introduction to gaussians.
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Thanks very much for the pointer. The May 24 video of Eric Wilsons presentation describes the guassians perfectly.

Now I just need to be able to transpose the information into my annotating.

There are some good guidelines that should be accepted and implemented into one's charting, but it seems to be essentially centered around Jacks Jokari window on the PV relationship.

Thanks again!
 
As we have seen throughout the past several years, The Friday After Thanksgiving 'half day' often creates larger than normal numbers of Dry Up stocks. Keep this in mind for Monday Morning.

- Spydertrader
 
Quote from Atari:

Hey Spyder, thanks for the quick response. In regard to moving the chart to the left to create the empty space, do you have to do that every time you bring up a new chart? When I change stocks the chart automatically pops back over to the right edge. So I was wondering if there was a way to keep them locked showing space when you switch between stocks.

-A
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Try this, go to: View > Preferences
Click "Display" tab, under "Charts" you can set a certain number of bars from the right edge. Maybe start with 20 or so.

Save as a default and that might do it.

Regard - EZ
 
Just wondering if anyone else trading the beginner methods is having a bad run this month. I've done 11 paper trades so far in November, and all but two have hit my initial 2.5% stop. I know that Spydertrader has always said that he pays little attention to the broad market, but I'm getting a little bit discouraged. After paper trading this system for over six months, I was planning to start trading for real at the start of the new year. Now, I'm not so sure if I'm ready to as my confidence is really shaken.
 
Quote from angelina:

Just wondering if anyone else trading the beginner methods is having a bad run this month. I've done 11 paper trades so far in November, and all but two have hit my initial 2.5% stop. I know that Spydertrader has always said that he pays little attention to the broad market, but I'm getting a little bit discouraged. After paper trading this system for over six months, I was planning to start trading for real at the start of the new year. Now, I'm not so sure if I'm ready to as my confidence is really shaken.
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Ditto the above, pretty much word for word, except I have a 2% stop. I haven't been trading the beginner methods for anything like as long, so I don't yet have the confidence in the system that comes from seeing it perform over the long term. My response has been to cut back my size by an order of magnitude to 100-share lots so that I lose money, but only a little. Having said that, I don't think that having a string of 10 or 15 losses necessarily invalidates a system. After all, these are unusually trying times. It will be interesting to see if it recovers over the next month or so. If it doesn't then maybe it's not as robust in poor markets as I thought.

Suss
 
Quote from Ezzy:

Try this, go to: View > Preferences
Click "Display" tab, under "Charts" you can set a certain number of bars from the right edge. Maybe start with 20 or so.

Save as a default and that might do it.

Regard - EZ
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Thanks Ezzy, that was exactly what I was looking for.

-A
 
Quote from angelina:

After paper trading this system for over six months, I was planning to start trading for real at the start of the new year. Now, I'm not so sure if I'm ready to as my confidence is really shaken.
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1. If you have traded from the long side only, then I encourage you to add short trades to your arsenal.

2. To renew your confidence, check out the Final Universe stocks which hit 'Unusual Volume' levels while Price rockets downward. You should find improved Money Velocity occurring on the short side. In other words, Price often falls faster than it rises.

3. I frequently shorted (during Journal I) when I first started, but did not discuss the vast majority of short trades as Journal I focuses mostly on the long side. However, these trades created significant profits - not included (for the most part) in Journal I.

- Spydertrader
 
Hello all,

I have fully read/studied Journal I and II and am still working on III.

I am just looking for some clarification that I am developing my lists properly b/4 I continue on.

using standard stocktables criteria (80 EPS, 80 RS, $5-$50) I transfered this to WL.

(ignoring for now further filtering avg 65 day vol, float, pos earnings. This i will do at the end once I know I am doing the other culling properly)

I ran the same stocktables list through 2 sorts:

1) through "3 month DU V.20" chartscript:

I got these: CALM, CRNT, FTK, ICOC, LPHI, PTT, SQNM, TRCR, UVE

2) Running the SAME list through Hershey 4.2, I got many more results:

AMED, AMEN, ATNI, BCPC, CCF (Bruno) CEVA, CHDX, DCP (BRUNO)
FLWS, HCSG HEI KAZ (BRUNO) LIFC LKQK MLNM MTW NOK OSIP OXPS PENX(BRUNO) SCHW SIF(BRUNO SXE(BRUNO) TPC TTG TWLL UEIC WXS

Does this look correct? I hate to be petty, I am just making sure I am on the right track since I am new to WL and this system...

If so , I will remove AMEX, bad floats, bad volumes, bad earnings, etc

thank you for any advice. I hope these look accurate. If so i will begin paper trading the journal I method, and slowly paper trade BRUNO's..

I am no where ready to delve into FTT's..

(Also, upon reviewing my notes, I was under the impression one of the scans gave numerical values for dry up, and the other important volumes for entry, exit, hold, etc) perhaps I am missing something obvious, but I dont see these.)

And finally, many of the stocsk (ran in Version 4.2) return a ZERO rank.. should these be ignored entirely?
 
Quote from mdl060374:

And finally, many of the stocks (ran in Version 4.2) return a ZERO rank.. should these be ignored entirely?
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Once you receive your initial sort from the Stocktables.com web site, then you want to cull for the rest of the Fundamental Parameters (e.g. float, Postive EPS, etc.). This reduces the number of potential candidates significantly and saves you time running them through the Wealth-lab scans. Once you have completed the culling process, then you'll want to scan for rank. We only want to trade stocks which have a rank (or stocks which have 'tenured' status). Any stock you find with a rank, and does not currently sit in your Final Universe list, you then add to your Final Universe. It is this Final Universe which you run using the Version 4.2 chartscript looking for Dry Up Stocks. We monitor the Dry Up Stocks the next day.

The Dry Up Scans themselves work to provide a signal for any stock which finds itself in Dry up.

I plan to release Hershey Chartscript Version 5.0 by the end of the year. I think everyone will be very thrilled with the changes made to this Final Chartscript.

- Spydertrader
 
Quote from Spydertrader:

Once you receive your initial sort from the Stocktables.com web site, then you want to cull for the rest of the Fundamental Parameters (e.g. float, Postive EPS, etc.). This reduces the number of potential candidates significantly and saves you time running them through the Wealth-lab scans. Once you have completed the culling process, then you'll want to scan for rank. We only want to trade stocks which have a rank (or stocks which have 'tenured' status). Any stock you find with a rank, and does not currently sit in your Final Universe list, you then add to your Final Universe. It is this Final Universe which you run using the Version 4.2 chartscript looking for Dry Up Stocks. We monitor the Dry Up Stocks the next day.

The Dry Up Scans themselves work to provide a signal for any stock which finds itself in Dry up.

I plan to release Hershey Chartscript Version 5.0 by the end of the year. I think everyone will be very thrilled with the changes made to this Final Chartscript.

- Spydertrader
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thank you spyder :)
 
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