The Documents by Jack Hershey
- Thread starter TIKITRADER
- Start date
Thank you, Jack for your nobel-prize winning contributions to the field of trading
you will never be forgotten by successive generations of traders
you will never be forgotten by successive generations of traders
Quote from MohdSalleh:
Thank you, Jack for your nobel-prize winning contributions to the field of trading
you will never be forgotten by successive generations of traders
What I love about Jacks detractors is that they laugh at game changers. There are people out there changing the game of life for themselves and others, and the reason is that Jack Hershey is hardheaded and thick skinned. Take the markets offer, on every bar, every day.
I assure you, soon one of us will go public, and we will point to PVT/SCT as the way out. If it happens to be me, I will also give credit to Prof. Logic, who is a man of remarkable integrity.
Thats a nice definition hypo. It is the most realistic definition of rich I have heard.
It is especially apropos as old ugly and fat as I am.
Great. Because if it DOES work I can't wait for the big boys to start frustrating it.
BTW, I changed my game on my own. Nobody will ever fuck up what I have because I don't brag about it. It's so subtle I don't even understand it myself.
Congrats on the success you are having. Post whatever you would like to contribute. This thread is for sharing everything from good questions to knowledge and skills. If someone is new here well then welcome here.
Everyone is welcome.
Daily Analysis Sheet
Daily Analysis Sheet
Daily Analysis Charts are used for each of the portfolios you maintain at ClearStation.com.
These include 7âs, 0âs and 1âs, hot list and owned list. The charts are identical and for the
owned list the left and right margins can be used also. As a time saver the stock symbol
and three volumes (DU, FRV, and peaking) can be typed in advance. You get these
volumes from the IAS.
After the market close each evening, print up blank charts and go to clear station.com to do
a âbulkâ review for each portfolio. Print and attach the âbulkâ printout. Focus on one stock at
a time and complete the row for that stock. All columns are used for owned stocks. Stocks
that you are reviewing to move to your hot list will not require the use of the right columns.
The following paragraphs deal with the columns in groups.
Scoring
Columns 2 through 5 deal with scoring. Score the stock based on its price (P) volume (V)
and Accumulation/Distribution (A/D). Enter 1âs and 0âs and binary values for each of these
and calculate the score as a base 10 number. You now know where you are in the cycle.
Volume
If you are working with a new stock enter the actual DU, FRV and Peaking Volume. Also
enter the actual daily volume in the volume column. Circle the appropriate volume that
corresponds with the actual volume. Check to see that the score and volume level
correlate. You now know the stock is ârepeatingâ a past performance.
Formations and Trends
In the formations column enter the formation that is denoted by the last four or five days of
bars (use EOD or 30 min for owned). Also notate the indicator activity descriptively for
MACD and Stochastic. For example note crossovers, divergence, and all signals. In the
Trends column annotate with a few words where the price and volume are in the trend cycle.
This is not a repeat of the scoring but is more a measure of the day of the cycle. If you have
a 6 day cycle for trading the stock you should be able to annotate which of the six days the
stock traded in that day. Correspondingly, if the stock is in a portion of the cycle where it is
not tradable you should be able to list the number of days until the beginning of the cycle is
reached. For example, if the beginning of the trading cycle is three days away you would
write down -3 or -2. Use -2 if you count the day of the beginning of the cycle as day zero.
This should correlate with both the scoring and the volume result annotated.
In other words, by this time of the analysis, you have filled in eleven columns and you
should know exactly where this stock is relative to using it to make money.
Analysis and Decision Making
The remaining 4 columns are used for annotating the consequences of analysis. By
analysis of a chart you can determine the Buy Date. If you decide to buy, then the Buy Date
should be written in for tomorrowâs date. Whenever you do buy, write that date in and use
this date as long as you are holding the stock. Since you know the average number of days
of a cycle, from the IAS, you can calculate the peak date from the buy date column. You can
also make a notation of how many days from tomorrow the peak date will occur, in the peak
date column. A typical entry would be day 2 or day 5, meaning, two or five days hence.
The next to the last column (Watch For) is used to make a notation for what it is you are
looking for next. It does not have to be what is going to happen tomorrow but it is one of the
material times that you have completed on the IAS. The last column (Action) is your
instruction to yourself for what to do tomorrow. The most common entry on the daily
analysis sheet for stocks you own is HOLD. If you are watching for peak volume you would
write: âsell on peaking volumeâ.
Use of Margins
I use the right margin for tomorrowâs stops. I enter two numbers: first the offset, in points,
from the close and second the actual price of that stock. As part of the daily analysis I
advance my stop as time passes. If I find I cannot advance my stop then I place myself on
alert for exiting.
The left column may be used for estimating the expected profit position you will have
tomorrow. I list it as a percent only (rarely).
Daily Analysis Charts are used for each of the portfolios you maintain at ClearStation.com.
These include 7âs, 0âs and 1âs, hot list and owned list. The charts are identical and for the
owned list the left and right margins can be used also. As a time saver the stock symbol
and three volumes (DU, FRV, and peaking) can be typed in advance. You get these
volumes from the IAS.
After the market close each evening, print up blank charts and go to clear station.com to do
a âbulkâ review for each portfolio. Print and attach the âbulkâ printout. Focus on one stock at
a time and complete the row for that stock. All columns are used for owned stocks. Stocks
that you are reviewing to move to your hot list will not require the use of the right columns.
The following paragraphs deal with the columns in groups.
Scoring
Columns 2 through 5 deal with scoring. Score the stock based on its price (P) volume (V)
and Accumulation/Distribution (A/D). Enter 1âs and 0âs and binary values for each of these
and calculate the score as a base 10 number. You now know where you are in the cycle.
Volume
If you are working with a new stock enter the actual DU, FRV and Peaking Volume. Also
enter the actual daily volume in the volume column. Circle the appropriate volume that
corresponds with the actual volume. Check to see that the score and volume level
correlate. You now know the stock is ârepeatingâ a past performance.
Formations and Trends
In the formations column enter the formation that is denoted by the last four or five days of
bars (use EOD or 30 min for owned). Also notate the indicator activity descriptively for
MACD and Stochastic. For example note crossovers, divergence, and all signals. In the
Trends column annotate with a few words where the price and volume are in the trend cycle.
This is not a repeat of the scoring but is more a measure of the day of the cycle. If you have
a 6 day cycle for trading the stock you should be able to annotate which of the six days the
stock traded in that day. Correspondingly, if the stock is in a portion of the cycle where it is
not tradable you should be able to list the number of days until the beginning of the cycle is
reached. For example, if the beginning of the trading cycle is three days away you would
write down -3 or -2. Use -2 if you count the day of the beginning of the cycle as day zero.
This should correlate with both the scoring and the volume result annotated.
In other words, by this time of the analysis, you have filled in eleven columns and you
should know exactly where this stock is relative to using it to make money.
Analysis and Decision Making
The remaining 4 columns are used for annotating the consequences of analysis. By
analysis of a chart you can determine the Buy Date. If you decide to buy, then the Buy Date
should be written in for tomorrowâs date. Whenever you do buy, write that date in and use
this date as long as you are holding the stock. Since you know the average number of days
of a cycle, from the IAS, you can calculate the peak date from the buy date column. You can
also make a notation of how many days from tomorrow the peak date will occur, in the peak
date column. A typical entry would be day 2 or day 5, meaning, two or five days hence.
The next to the last column (Watch For) is used to make a notation for what it is you are
looking for next. It does not have to be what is going to happen tomorrow but it is one of the
material times that you have completed on the IAS. The last column (Action) is your
instruction to yourself for what to do tomorrow. The most common entry on the daily
analysis sheet for stocks you own is HOLD. If you are watching for peak volume you would
write: âsell on peaking volumeâ.
Use of Margins
I use the right margin for tomorrowâs stops. I enter two numbers: first the offset, in points,
from the close and second the actual price of that stock. As part of the daily analysis I
advance my stop as time passes. If I find I cannot advance my stop then I place myself on
alert for exiting.
The left column may be used for estimating the expected profit position you will have
tomorrow. I list it as a percent only (rarely).
Possible Buys Check Sheet
