Software Used to Trade Jack Hershey Methods

[achilles28]

Quote from cnms2:

In this picture I vertically aligned a 5 min, an 1 min, and a 0.2 min charts. Look how the B2R and B2B transitions align.

I think we've missed each other.

My original point - price direction is simplier to anticipate at points where multi-fractal LTL confluence (ex, the 5 mins, 15 mins and 1hour), then, as opposed to say, when price approaches a LTL on a 1 mins fractal on a non dominant traverse.

This is just a random example to prove a relative point.

That some turns are easier (or should I say, simplier) to anticipate than others. The context of this statement was made in reference to the Peaktrader software and how it will help users identify these 'gimmie' turning points much more readily.

As far as the diagram posted, price action at around 11:57 illustrates my point. Multifractal support lines up at the expected place and price bounces accordingly.

 

[Spydertrader]

Quote from cnms2:

An FTT on level 3 is an FTT on level 2 and the FTT on level2 is an FTT on level 1.

This is not accurate.

Because the market shows an FTT on Level 3, in no way indicates one has an FTT on level 2 or Level 1. Certainly, everyone should be able to provide an example. Think about it for a moment. However, an FTT on Level 2 does insure one has an FTT on Level 3. All poodles are dogs, but not all dogs are poodles.

- Spydertrader

 

[achilles28]

Quote from cnms2:

From Jack's post: <p>An <font color="red">FTT</font> on <font color="red">level</font> 3 is and <font color="red">FTT</font>on <font color="red">level</font> 2 and the <font color="red">FTT</font> on <font color="red">level</font>2 is an <font color="red">FTT</font> on <font color="red">level</font> 1. whatfollows an <font color="red">FTT</font> on <font color="red">level</font> 1 is a<font color="red">BO</font> of the <font color="red">level</font> 1 <font color="red">RTL</font>.</p>

I'm not familar with the fractal resolution corresponding to each "level".

Yes, I believe what you say is correct. But not entirely related to my post.

Heres how I trade the above (for FX, mind you).

For a dominant traverse:

Tick will first form an FTT then break its channel.

Then 15 second will form an FTT then break its channel.

Then 1 mins will form a FTT then break its channel.

And so on (ASSUMING the tick FTT resulted in a true FTT).

Yes, the ORIGINAL FTT is that printed on the tick.

But each fractal has its own corresponding channel (think of accelating channels here with slope increasing with accelerating fractals). Each fractal then has its own channel line and price will usually honor many, by bouncing off the RTL on the way down, FTT, then go right through.

Its akin to a series of checkpoints.

 

[cnms2]

Spyder, in Jack's post I understand that level 3 is a higher fractal, than level 2, that is higher than level 1. So I understood, and thought it to be correct, that a 15 min FTT, will always imply a 5 min FTT. But a 5 min FTT may or may not imply an FTT on the 15 min. Is this the same thing you're saying?

Quote from Spydertrader:

This is not accurate.

Because the market shows an FTT on Level 3, in no way indicates one has an FTT on level 2 or Level 1. Certainly, everyone should be able to provide an example. Think about it for a moment. However, an FTT on Level 2 does insure one has an FTT on Level 3. All poodles are dogs, but not all dogs are poodles.

- Spydertrader

 

[ljyoung]

My original point - price direction is simplier to anticipate at points where multi-fractal LTL confluence (ex, the 5 mins, 15 mins and 1hour), then, as opposed to say, when price approaches a LTL on a 1 mins fractal on a non dominant traverse.

My point is that since the appropriate P/V action must originate on the fastest fractal (substitute "has" for "is" in cnms2's and JH's statements) and could it logically be any other way, then how one prepares for the "anticipated" event (in this case a short) doesn't depend on the fractal. Your statement that it is easier to anticipate at a multi-fractal confluence is redundant with respect to what has already gone on on the faster fractals.

lj

 

[achilles28]

No, its not redundant considering the context in which it was said. Perhaps I'm not being clear enough.

Your exposition of PV relationship is sound - except the conclusion.

I'm talking about the risk map. Where a beginner finds himself on that and where they should start (IOW, whats easier *relative* to something else).

Faster fractals imply higher risk, lower reward trade environments. Multi fractal convergence environments (along with rockets) are low risk, high reward environments.

The novice starts in the obvious place.

I sense an argumentative tone and no longer wish to discuss further. I think my point has been made.

Good trading.

 

[ljyoung]

Quote from cnms2:

Spyder, in Jack's post I understand that level 3 is a higher fractal, than level 2, that is higher than level 1. So I understood, and thought it to be correct, that a 15 min FTT, will always imply a 5 min FTT. But a 5 min FTT may or may not imply an FTT on the 15 min. Is this the same thing you're saying?

cnms2, I think that is what Spyder is saying and also what I was originally thinking BUT I think that achilles is saying that when the channel boundaries are "lined up" if you will, that it is easier to anticipate a price reversal in the higher (slower) fractal. I do not know if this is so but as I said, I would prepare for things the same way as I would on the lower (faster) fractals.

lj

I just read achilles latest response and what he says with respect to risk/reward makes sense in so far as one is talking about the level of trader experience BUT I still don't know if you can say that the the "confluence" allows one to more readily anticipate a particular outcome. If you read what easyrider (AKA Mr. Rocketman) had to say about "rockets", you will find that he "washed" about 80% of the time.
As for there being argumentative tone in my responses, that of course is a subjective assessment. I like to discuss things with vigor but as soon as the exchange goes down the ad hominem path, which your exchange with me most certainly did not, then it is time to move on.

lj

 

[Spydertrader]

Quote from cnms2:

Spyder, in Jack's post I understand that level 3 is a higher fractal, than level 2, that is higher than level 1. So I understood, and thought it to be correct, that a 15 min FTT, will always imply a 5 min FTT. But a 5 min FTT may or may not imply an FTT on the 15 min. Is this the same thing you're saying?

Unless Jack changed his use of 'Levels' with respect to drawing channels, Level 1 = Tape, Level 2 = Traverse and Level 3 = Channel. As such, a Channel (Level 3) FTT may or may not also create a Traverse (Level 2) FTT, but a Traverse (Level 2) FTT always also creates a Channel (Level 3) FTT. The same relationship also holds true for Traverse / Tape. All poodles are dogs, but not all dogs are poodles.

With respect to fractals, I don't switch fractals during the trading day, and as such, cannot speak to its application here.

Good trading to you all.

- Spydertrader

 

[cnms2]

Quote from Spydertrader:

Unless Jack changed his use of 'Levels' with respect to drawing channels, Level 1 = Tape, Level 2 = Traverse and Level 3 = Channel. As such, a Channel (Level 3) FTT may or may not also create a Traverse (Level 2) FTT, but a Traverse (Level 2) FTT always also creates a Channel (Level 3) FTT. The same relationship also holds true for Traverse / Tape. All poodles are dogs, but not all dogs are poodles.

With respect to fractals, I don't switch fractals during the trading day, and as such, cannot speak to its application here.

Good trading to you all.

- Spydertrader

Thanks, I got it backwards

 

[ljyoung]

Quote from Spydertrader:

Unless Jack changed his use of 'Levels' with respect to drawing channels, Level 1 = Tape, Level 2 = Traverse and Level 3 = Channel. As such, a Channel (Level 3) FTT may or may not also create a Traverse (Level 2) FTT, but a Traverse (Level 2) FTT always also creates a Channel (Level 3) FTT. The same relationship also holds true for Traverse / Tape. All poodles are dogs, but not all dogs are poodles.

With respect to fractals, I don't switch fractals during the trading day, and as such, cannot speak to its application here.

Good trading to you all.

- Spydertrader

You are right Spyder with respect to a tape, traverse and channel on a single fractal - say the 5 minute fractal. By my guesstimate, there were at least three and possibly four lines of discussion going on here, which periodically and inadvertently intersected. I believe I have things straightened out in my pointed little head but I also have a headache now and am off to la chambre à coucher.

Bon soir,

lj