Jack always insisted people set aside their pre-conceived notions and rid themselves of habits from other methods before attempting to learn his methods. As a 'day-trader' prior to learning from Jack, I experienced great difficulty in permitting myself to hold stocks overnight (a daytrader ends flat in cash at the end of the day). I even tried to use a variant of these methods to 'daytrade' stocks with very little success. Once I finally decided to follow the advice shared by Jack without running it through my own mental filters, I developed a greater understanding. - Spydertrader
2005-07-11, Monday - Lists Hershey Wealth-Lab Chartscript Culling Methodology Hershey Chartscript Scans / Qcharts Culling / Stocktables.com Sort Hot List FORD MCRI Dry Up Stocks DCAI FORD JMDT JUPM TASR Hot List Stocks Scores FORD - 4 MCRI - 5 Dry Up Stocks Scores EZPW - 0 FORD - 4 JUPM - 5 TASR - 7 VDSI - 4 Keep an Eye on These Stocks TASR (Attached) <img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=786824>
Spyder, More questions... When monitoring stocks in the daytime for pro-rata volume, what provider do you use for this? Thanks again, Oddi
I no longer monitor for pro-rata Dry Up Volume as I use Low Band Dry Up Volume as an entry signal. Qcharts provides the data I use for both EOD and Intraday monitoring. - Spydertrader
Okay, that's good to know Low band dry up volume is 3 standard deviations from Average Dry Up volume....do I have this correct?
I plan to post the next updated Journal Results Spreadsheet soon after closing the MFLX trade. - Spydertrader
Both Low Band Dry Up Volume and High Band Dry Up Volume reside at opposite ends of the Bell Curve and approximately three standard deviations from the mean (Average Dry Up Volume). - Spydertrader
Spyder, Yet another question.... I am not a statistician, I have just found out:eek: Please use TASR as an example and show me how you would calculate the low and high bands of dry up.... Also, if FRV is DU*2 would you use average dry up as your DU variable, or would you use one of the figures within your range of dry up? Best Regards Oddi
I would visit the Wealth-Lab.com Web Site Version of the Hershey Chartscript, type in TASR, and click Execute Chartscript. Scrolling down the page to the area below the chart provides these values for you. If you insisted on performing the operations by hand, do the following: Average Dry Up *(0.4986) = X Average Dry Up + X = High Band Average Dry Up - X = Low Band FRV = DU*3 Peak Volume = FRV*2 I use Average Dry Up to Calculate FRV and Peak Volume Levels. Again, The Wealth-Lab.com Web Site Version of the Hershey Chartscript performs these calculations automatically. A full description of how the ChartScript calculates these methods is explained in the ChartScript Description. - Spydertrader