Spydertrader's Jack Hershey Equities Trading Journal III

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Spydertrader,

First, my Thanks to your efforts to assist others.
Your time, effort, and patience is greatly appreciated.

I’ve been playing around with the chartscripts and trying some things out. Since you noted you are working on a new version, I thought you might be interested in some of the ideas. Here’s the first one.

You can add custom scan columns with “ addcolumnstr “.
The custom scan columns can then easily be copied and pasted into an excel spreadsheet.

For example, the fields sent to the commentary window could also be sent to the custom column page. With the calculation of curVol/DUHigh as a custom column, one can easily sort on this field to see not only those stocks in DryUp, but also those that might be just over (ex. 101%) if someone wants to consider those just over the line for trading.

begin
if DUHigh > 0
Then AddScanColumnstr( 'CurVol/HBDU', Formatfloat('0.00%', 1*(curVol/DUHigh) ));
end;


If one can link the streaming price and volume data from their data provider to the spreadsheet, the spreadsheet can automatically calculate the % of LBDU, AVDU, FRV, and Peak. Add some formatting such as having a cell turn green when 100% is reached can provide a visual scan of which stocks have exceeded targeted values.

With the addition of the Unusual Volume Table, one can set a spreadsheet up to calculate real-time estimates during the day of what % of FRV will be reached at EOD.

Including items such as the Stop Offset in the Custom Scan Column enables one to easily add this data to the spreadsheet. Then one can have an easy reference for items like this from the spreadsheet instead of having to check stocks one by one in WealthLab.

Hope these ideas are useful.
 
I havent posted in a while as ive been busy. But I was wondering if someone could comment on my analysis. I may be totally off here with regards to channel, guassians, etc... but the only way to learn Im guessing is to make mistakes on my own and have them corrected by more experienced Hershey traders. According to the channels in the BCSI daily, am I correct in recognizing the FTT of the blue channel followed by a decreasing red volume shown on the red line. So to confirm the BO of the blue channel I should be looking for an increase in red volume within the circled part of the volume bars. Would this be an R2R after the blue FTT and a good place to go short?
 
Quote from LittleMac:

Would this be an R2R after the blue FTT and a good place to go short?
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An R2R indicates you have had an FTT followed by decreasing Volume back to the Right Trend Line and then increasing Volume as Price breaks the Right Trend Line. Decreasing Red to Increasing Red - R2R. In such an enviroment, one often finds profits from going short.

- Spydertrader
 
Quote from Spydertrader:

An R2R indicates you have had an FTT followed by decreasing Volume back to the Right Trend Line and then increasing Volume as Price breaks the Right Trend Line. Decreasing Red to Increasing Red - R2R. In such an enviroment, one often finds profits from going short.

- Spydertrader
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So then if my assumption from the chart is correct, I would be looking for increased volume today from the previous day to comfirm a possible BO....or am i looking for Unusual Volume levels to be hit by a certain time since BCSI was in DU yesterday. Essentially am I using simply Gaussians and volume levels over the past few days as the indicator to go short or do I need the Unusual Volume as well as MACD, Stochastics, Price Increase, etc... for my signal to go short.
 
Quote from LittleMac:

So then if my assumption from the chart is correct, I would be looking for increased volume today from the previous day to comfirm a possible BO....or am i looking for Unusual Volume levels to be hit by a certain time since BCSI was in DU yesterday. Essentially am I using simply Gaussians and volume levels over the past few days as the indicator to go short or do I need the Unusual Volume as well as MACD, Stochastics, Price Increase, etc... for my signal to go short.
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You've combined three different entry criteria to ask your question. All three get you to the same place.

Do I want increasing Red Volume over the Previous Day?
Do I want Unusual Volume levels to exceed threshold by 10:30?
Do I want MACD, Stochastics, etc. to line up correctly?

How do the above three differ?

Lastly, I don't think you'll want to see a Price increase if you plan on entering short :D

Make sure you understand how PRV works as well.

- Spydertrader
 
Hey LittleMac,

I would also keep in mind where price is in terms of the longer term channels. It looks to me like, if you do decide to take a short on a R2R BO, you should be wary of the $33 support area created by the dark green Left Trend Line in my attached weekly chart.

Personally with BCSI, I'm much more interested in looking for a FBO long position, as the Intermediate Term channel seems to be just starting a dominant traverse of the longer term channels and therefore provides more room for a good percentage run before running into any major resistance. Just my two cents, take it for what it's worth.

-A
 

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Was wondering if anyone went long on CMED or SSRX today. According to my analysis CMED had signals on both LBDU and Unusual Volume(meaning .22 by 11:00am) for a long because MACD Stochastics and Price all aligned. Also SSDX had a long signal according to Unusual Volume.

Also, I didnt go long these two because they had run up considerably already by the time the signal was hit. According to the thirty minute chart, there were substantial green bars as well as peaking(in my estimate at the time) Stochastics and MACD which may have turned and formed a retrace or move in the opposite direction. My question is should I have gone long anyways? Is this a fear Im experiencing inside myself because I believe the stock cant rise any further since it has gone up already or is this a fear everyone experiences and thus I should wait for a retrace before getting in? Any commentary would help. I have also attached a CMED chart and would appreciate any commentary on my channels. FTT's etc... Also since I am learning Guassians any comment would help in that area too.

Sorry for all the questions but my eagerness to learn is at an all time high. I was a considerably successful day trader once before the NYSE went hybrid. And I went through a period of denial and hopelessness before I got back into trading again. I know I can make it back for good this time and my motivation is at an all time high. I chose this method and journal originally because of the genuine respect, and interest of the posters(specifically Spyder, Gooch, etc...) Also a friend of mine and former fellow day-trader Steve Tvardek vouched for everyone involved in teaching the Hershey process and their commitment to success. And I trust his expertise. Anyways sorry for the sob story but I wanted to express my commitment to the system. I read posts everyday for and against the Hershey system but I trust my gut and the word of others that this is a system that with patience and dedication, can prove extremely successful.
 

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I do not have SSDX in my Final Universe so I don't know about that one (I have SSRX?).

As far as CMED, my low band DU (130,666) triggered at 11:49 AM - long after the 10:30 cut off (or even the DU cutoff). I use Qcharts and maybe we have a difference in data reported. Your channels look fine to me, the only real difference with my channels is that I fanned out the down channel that you show, after price broke through. My gaussian analysis is that CMED currently shows a R2B which confirms that the dominant channel is still the down channel. I was anticipating a potential short play due to this. However, if volume continues to reach FRV by the end of the day, then we should see an increase in volume from the previous day creating a B2B which would tend to confirm a BO of the down channel - changing the dominant channel to the up channel.

Hope some of that helped,
-A

<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1703252>
 

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Quote from Atari:

I do not have SSDX in my Final Universe so I don't know about that one (I have SSRX?).

As far as CMED, my low band DU (130,666) triggered at 11:49 AM - long after the 10:30 cut off (or even the DU cutoff). I use Qcharts and maybe we have a difference in data reported. Your channels look fine to me, the only real difference with my channels is that I fanned out the down channel that you show, after price broke through. My gaussian analysis is that CMED currently shows a R2B which confirms that the dominant channel is still the down channel. I was anticipating a potential short play due to this. However, if volume continues to reach FRV by the end of the day, then we should see an increase in volume from the previous day creating a B2B which would tend to confirm a BO of the down channel - changing the dominant channel to the up channel.

Hope some of that helped,
-A

<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1703252>
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Helped tremendously, thanks for the input. By the way I know Ive read this before but does QCharts give the 65 day average volume as a column. I have to manually enter the 65 day avg volume everyday for all 60 FU stocks since MSN gives wrong results on most stocks and yahoo doesnt allow to display 65 day avg volume on its stock screener and then export to excel. Its a real pain.
 
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