Spydertrader's Jack Hershey Equities Trading Journal III

Discussion in 'Journals' started by Spydertrader, Dec 30, 2006.

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  1. angelina

    angelina

    I can't comment on your entry as I'm just begining to learn the Hershey methods myself. As for exits, I've been trying to incorporate what I've learned about support lines to help aid my exit decisions. Perhaps this will be helpful to you. Two support lines pop out at me (see attached charts) that just so happen to intersect with each other. A close below this line(s) would tell you that support had been broken and might be a sign to exit. You can see on the 30 minute chart that SNCR held on support fairly well. Of course it's easy to see these things after the fact.
     
    #1601     Jul 20, 2007
  2. angelina

    angelina

    And 30 min chart.
     
    #1602     Jul 20, 2007
  3. Thank you for pointing this out. Ive never noticed the horizontal support levels, just the support at the RTL.
     
    #1603     Jul 20, 2007
  4. Very frustrated to this point. Got into CECE at 9:50ish on LBDU signal and again it has done the exact same thing that I have seen with many of the trades signalled by the beginner methods. Immediately after entry it pulls back almost entirely to a point where I have to decide if Im willing to risk more than 2% loss. Seemed like a BO of the RTL on the 30 min chart as well as a BO from a channel ont he daily. Did anyone else see differently?? Any thoughts would be appreciated.
     
    #1604     Jul 23, 2007
  5. angelina

    angelina

    I didn't have CECE on my Final Universe list - I think that I took it off because average volume was too low. Having said that, it looked like it gave a valid signal. The only problem I see is that it looks like it's moving in a range on the daily chart. It's tried twice to break over the high of 13.28 set back on June 4 - once on July 12th and again two days ago. On thursday when it tried to move over, it broke over 13.28 just slightly and then immediately fell back down suggesting that this is a strong resistance point that should be watched carefully. Currently it doens't look too strong - volume is fading away as it did on thursday. There's a small area of support around 12.70 where it might decide to hold at - hard to say.
     
    #1605     Jul 23, 2007
  6. Munck

    Munck

    LittleMac,


    When you use LBDU as a indicator, you tend you get a lot more signals (hence also a lot more false ones) than if you were using just DU. Because of that I switched to using the DU value myself.
     
    #1606     Jul 23, 2007
  7. You use DU by 11:30, is this correct?
     
    #1607     Jul 23, 2007
  8. angelina

    angelina

    LittleMac,

    Did you hold onto CECE? It's up near the day's high again.
     
    #1608     Jul 23, 2007
  9. Hi to all,

    A general question: Does anyone know if the July portion of the syllabus has been posted yet. Me can't find it.

    05-31-07 06:55 PM
    The Syllabus

    January 1 - ES Chart: Price, Volume, Channels and the FTT
    February 1 - YM Chart: The YM leads the ES?
    March 1 - Gaussians and PV
    April 1 - STR / SQU (Stretch - Squeeze)
    May 1 - Fundamentals Review
    June 1 - DOM (Depth of Market) / Time and Sales
    July 1 - TIC Charts and Two Pairs
    Aug 1 - Flaws Summary
    Sept 1 - Additional Signals for Change
    Oct 1 - Putting it all together
    Nov 1 - Real Time Video Example Trades
    Dec 1 - Dec 20 - Final Exam

    TIA.

    lj
     
    #1609     Jul 23, 2007
  10. Munck

    Munck


    Well, right now I'm using 11:00, but I'm looking into other options, 11:30 being one of them. I believe Spyder changed from 11:00 to 11:30 when he started with the LBDU stuff. I'm very interested if anyone has done some analysis/statistics about which time equels the lowest amount of risk. My plan is to use margin later on, so risk is of somewhat importance to me :)
     
    #1610     Jul 23, 2007
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