Spydertrader's Jack Hershey Equities Trading Journal III

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Wanted to share a couple things I saw today. Got a lot of signals but only got into two stocks. I have TSl and DBTK as giving possible short signals according to my unusual volume charts. I had EMKR SNDA and EXM as possible buys I bought EXM and EMKR when my 11:00 Unusual volume level was hit way before 11:00 and all planets aligned(MACD, Stoch, price increase). I was cautious because I still find its hard for me to pull the trigger at signal time when I see that the 30 minute chart has moved up considerable from 9:30 to 10:30. Again, is this just me or does anyone else have that problem?

Interested in seeing charts, channels, etc... and hearing what people's thoughts are on these trades.
 
Here is my chart for EXM. According to my Guassian analysis, the down channel is currently the dominant channel which makes me cautious.
 

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And here is my chart for EMKR. This chart makes me want to ask the question, can you fan channels both ways to make a channel steeper and to make a channel wider??
 

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Quote from LittleMac:

...I still find its hard for me to pull the trigger at signal time when I see that the 30 minute chart has moved up considerable from 9:30 to 10:30...
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At the beginner level you will be 'late' on entry and early on exit. The idea is to get your eyes on charts (screen time), and minimize the risk to your money. As you gain experience you will get in earlier and hold longer, and using your skills to minimize the greater risk.

The whole idea is to move through the skill levels and not just stay a 'beginner'. The fact that you 'see' the earlier entries shows you are learning the market and should provide motivation to continue to improve.

Good trading to you,
-Mike
 
Quote from Munck:

LittleMac,


Here's my EXM chart for comparison. To me, it looks like a very good long signal (on the leaves level). I am trading on the coarse level at the moment, hence I won't take the bait :)

my 0,02ct. [/QUOT
I drew in that extra red down channel. Is this a channel meaning I would have to be cautious around the 52.50 spot. Or is yours the right down channel with a BO forming the new up channel(aqua).
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Quote from LittleMac:

I was cautious because I still find its hard for me to pull the trigger at signal time when I see that the 30 minute chart has moved up considerable from 9:30 to 10:30. Again, is this just me or does anyone else have that problem?

Interested in seeing charts, channels, etc... and hearing what people's thoughts are on these trades.
More...

I am new to the system also, and have the same concern. Although I am not trading live yet, I am trying to "simulate" what i would do real time as I watch for "the planets to align" .

I also have 2 separate Qcharts quote windows set up.. As I am a beginner, I have 1 for regular DU (both 3 month and 6 month scans used) and the other for 4.2 scans (more advanced setups.)

This way I know what to look for for each different window, etc..

I also am in that mental tug of war wanting to "zoom in" on a 3-5 min time frame and catch these early moves, yet know the added risk.

I am trying to change my mentality from a daytrader to being more objective and letting stop losses, and predetermined volume levels tell me when to get out, not charts...

This is one advantage of the 30 minute b/c if you go shorter you try to analyze the "noise" which can do more harm than good it seems with this methodology..

my .02
 
LittleMac,


It all depends on volume. Today, we have black volume, meaning we might get a R2B gaussian formation (continue signal). We would like to see increasing black volume the next couple of days. If this happens, the channel in my chart is "valid" (and so is the aqua colored in yours)

If however, we get increasing red volume, we get a R2R gaussian (change signal). This means a RTL BO of my channel, and a short signal.

May I suggest you start annotate gaussians on your charts - I think it will help you further your understanding of the method (that was the case for me anyway) :)
 
Quote from LittleMac:

Here is my chart for EXM. According to my Guassian analysis, the down channel is currently the dominant channel which makes me cautious.
More...

Hey LittleMac,

It appears you might have some confusion as to Gaussian analysis. The current gaussian analysis confirms the up channel as dominant. I have attached your chart showing the current gaussian analysis (smaller arrows) and what we would expect to see if the gaussians were confirming the down channel as dominant (large see-through arrows). Hope it helps.

-A

<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1706320>
 

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