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brownsfan019

Trader P/L 2009

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I have tried to find this Jack Hershey and all I could find were reams of stuff on how no one can figure out just what his method is and that there are no results. I still have not found anything that is written by him. Or is this all just a big joke so that whenever someones strategy is hard to discern they call is the 'Jack Hershey method'.

 

Not that I am looking for a new method to trade, I'm just curious, It's my balls that I am having trouble locating.

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Now to the 2 point noise:

The charts below show 2 point range bars (based on 5 s bars, so some are larger and the open of the next bar might be the close of the last 5 s bar, i.e. they are not really range bars).

One idea of me is:

Lets assume that 6 points moves are quite often, but they also stall then.

If you entered missing the first 3 points, why not just exit when 6 points are

reached (with 2 or 3 points profit).

Then wait for a pullback of 2 or 4 points for reentering into the same direction as before.

That would be really playing noise.

 

 

Hal - that first chart is nice (and clean). I agree w/ Thales that some stuff jumps out at you...

 

1) I am not sure how these are color coded, but could something work with buying new blues and selling new reds?

 

2) Consider shorting new highs when turns red, buying new lows when turns blue. Again, not sure how you are color coding these, but on this chart it provides some timely entries after a base has been put in.

 

That is a clean chart Hal and could be something to work with IMO. Consider starting a new thread dedicated to it as many on the forum won't see this one post.

 

attachment.php?attachmentid=11090&stc=1&d=1243995706

5aa70ede8bd0b_TLHAL.gif.fae9d0754eac90bdc9ce9a78d8b47be9.gif

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Thanks Diablo, I have read alot of it now and it actually makes sense to me. His method is strangely similiar to mine. Only I use EMA's on different time frames combined with stochastics to see 'trends within trends'. And I just love 'regression channels', after reading Hershey's stuff I will be using them alot more. Thanks again.

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Hi Folks,

 

Here are today's trades. Both were great trades, but unfortunately neither one resulted in a profit. The COV trade may actually be my largest loss on a single trade (42 pennies/share) this year. I'll post the charts over at the "Day in a Life" thread.

 

Total loss for the day: -$0.52/share traded

 

Best Wishes,

 

Thales

5aa70edf0cd10_6-3-2009Trades.jpg.c4a6b6577f7c39d119b94dd7ad2f6453.jpg

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Thales, Brown -

 

Thank you both for your comments about my charts,

 

sometimes I think that a clean chart is much better tradeable than one with many indicators. On the clean chart you can see the trendlines and s/r lines, even if you are not drawing them.

 

Brown, your approach has merit, I think that it should have produced winners today,

but I haven't checked it yet.

 

I currently read Law of Charts, and then I will read about the TTE.

 

After that I will try to sort things out. And then I will start a thread.

I think then it will make sense.

 

Hal

Edited by HAL9000

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i see some mention of Watts systems round here and poked round the net a bit and found this.....no idea if it works but here is what i found!

 

http://www.wattstrading.com/Simple2minuteSP.pdf

 

That's not the Watts System - but it's from Watts. It's a free PDF he hands out if you sign-up on his maillist.

 

I've been studying the Watts for several months and have to say I'm very pleased with it. If anyone's interested I'm trading it live on this thread: Daybreak Trading.

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No trades today or rest of week.

 

Brownsfan, do you use the same setups on bonds as you do on indecies or currencies?

 

Yeah, basically the same thing although it seems easier on bonds many days. If I had to pick one market, I'd probably just trade bonds. The reason I don't do that now is that I just don't know day-to-day which of my main ones will be the better one to trade.

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ok, no real trades today, the building I live in had electrical problems and advised they would be turning the power on and off several times today so I didn't want to get caught in a trade and no computer... yikes. So as you already know any excuse will do, so I traded my sim again today. 20 trades.... actually had more losers than winners but ended up

$250. I caught one real good trade right around 8600 on the YM and rode it for 52 pts. So that was nice, hopefully tomorrow will bring some 'real' profits.

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I'm back from a needed vacation and will be trading on friday. I will post results. It's good to see this tread still going. I was thinking that I will also start to include charts of my trades to get some feedback. I think that posting charts would help a lot of us, for starters it would get us to save charts of our trades which many traders agree is an important step in becoming a better trader.

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Hi folks,

 

Two trades today, lost 23 pennies on COST short and made 15 pennies on TEL long.

 

Total for the day: -$0.08/share traded.

 

I may be done for the week as I have a meeting in the morning that will keep me from trading the AM session.

 

Best Wishes,

 

Thales

5aa70edfc3b35_6-4-2009Trades1.jpg.1cbe055f48fbd646bd90bc731f326b40.jpg

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Ok, sorry only sim trades today. 16 trades of 2 YM contracts. I was never stopped out but I exited several before they hit my stop. Anyways I was up $345. pretend dollars... yech... See you tomorrow.

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Ok, As I would never start real trading on a Friday, sim trades again today but for 180pts on the YM. All 2 contract YM trades but there were about 30 trades for $905. profit. 10 even trades, 4 stopped out for full 21pt, the rest were real nice winners. I tried very hard this week to cut my losers and ride my winners and when I had a good buy at an extreme like that low this morning I removed my limits and just let it run. Also these more range bound days are great for my EMA crossover signals. So I'm pumped for Monday to start with real money again.

 

The other thing I did was the later in the day it got the sooner after I was winning a trade I moved my stop up to even to protect the money I had, so there were unfortunately too many trades at or very near even, but that is a small price to pay for protecting profits. Next week I report real trades all week long.

 

Anyways you have a good weekend, I've got my son's soccer games to look forward to, we'll see you on Monday.

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6-5-09

 

attachment.php?attachmentid=11133&stc=1&d=1244241244

 

 

 

And for the boneheaded play of the day:

 

attachment.php?attachmentid=11134&stc=1&d=1244241260

 

I was short on bonds into the AM news (as I was long EC at same time). Both trades were gorgeous - instant +$300/ct. See a difference in the end result?

 

:doh:

 

EC trade nice and easy winner.

 

ZB trade - somehow I butchered that into a loss... I got in and the trade was stuttering as everyone was waiting for the 830am news. I saw a small profit at one point and grabbed it. Trade then gave me a 2nd chance to short before the news. I took it, but this time I was going to be smart and put a snug stop on....

 

Meanwhile I was comfortable letting my EC trade just go.

 

Really dropped the ball here, should have just been 2 trades for +300/ea trade vs what I created there.

 

Live and learn.

 

Always doing the 'learn' part though w/ trading...

6-5-2009.png.efc6e25f86eeee5992cdb49abe98d054.png

zb.png.fcfec770be564f4d3c20334f53c571e7.png

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Much like Maverick said to Goose, after being implored to "Take the shot"...it just didnt feel right. Revenge trading (from the past couple weeks of destruction) is an invitation to disaster.

 

Did some watching of the market this week - with very little trading. If anything - it helped my discipline. Avoided making those "jump in - the market is moving trades". Perhaps it was fatigue - perhaps it was crazy work schedule - or just maybe - I am becoming a bit more diligent to sticking with my plan.

 

Missed two entries by a little - which would have been nice trades. But thats life. No chasing cars.

 

Will be in front of the screen for a limited time the next two weeks - happily because of vacation. Will try to keep active via some pre-set swing trades.

 

Good weekend to all. Not much else to post. Like the idea of posting charts - will include that in my future posts as well.

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Hi Folks,

 

Here are today's results: Three trades, two stocks. Short PSA for +19 pennies/share, long BCS for + 15 pennies/share, and then long BCS again for -10 pennies/share. Total for the day +$0.24/share traded, and for the week +$2.49/share traded.

 

Best Wishes,

 

Thales

5aa70ee02ced4_6-5-2009TradeswithWeeklyTotal1.jpg.2c45c2bfeeb2ecec125008e1205a288d.jpg

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Hi Brownsfan,

 

Do you take trades regularly based on how what you think the news will be?

 

Personally and I do not claim to be even somewhat good at interpreting how news will effect markets trades like this can be a lot like gambling for a day-trader. I usually sit out news, speeches and fed announcements.

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Hi Brownsfan,

 

Do you take trades regularly based on how what you think the news will be?

 

Personally and I do not claim to be even somewhat good at interpreting how news will effect markets trades like this can be a lot like gambling for a day-trader. I usually sit out news, speeches and fed announcements.

 

Great question BR. Here's how I treat news - on most markets, I LOVE it! And you can see why in the above charts I posted.

 

Basically I just take my setups as they occur, regardless of news on all markets EXCEPT oil. I have to stay out of oil trades on Wed inventory numbers b/c that is way too jumpy for my liking.

 

But on the indexes, bonds and currencies, I will get into a trade and hold through the news if I get a setup beforehand. If there is not a setup, then I just wait. In other words, I don't try to guess where the news might drive the markets (I'm not a fundamental trader at all).

 

With that said, trading news is not for the faint of heart. If you want to see your P/L jump hundreds/thousands in seconds, then give news a try on SIMULATION.

 

I can't stress enough that I only take a trade when my normal setup occurs and that I don't trade oil on inventory day.

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