Software Used to Trade Jack Hershey Methods

[achilles28]

Quote from ljyoung:

...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...

lj

That's the gist of it.

And perhaps I jumped the gun at bit. My bad.

In Jacks parlance, when price meets the converged LTL of LT, IT and ST you get very significant resistence or support.

Jack has noted this a couple times in CFBW.

The relevance of this is somewhat lost with the ES because of its dynamics - tighter range and shorter trends make for a *relatively* slower instrument.

The analogy is similar to the YM versus ES. YM trades faster - more pronounced - while the ES is slower and more deliberate.

Currency pairs fall along the same continuum in terms of cycling rate or speed. Euro, Nzd and AUS are relatively slow and methodical - think of taking Grandma for an ice cream cone. Yen crosses, notably the GBPJPY - think Daytona 500.

The relevance here - on faster instruments, the corresponding LT, IT and ST are much shorter. Therefore, the frequency of their occurrence is much higher. Thats key. For GBPJPY, the corresponding LT might be the 2 hourly or 1 hourly. IT 15 mins. ST 5 mins. The trends are simply that short because the range is that fast.

For an FX trader, like me, this 'aligning of the stars' is important. It happens on the ES too, just less frequent.

Good trading.

 

[Steve Tvardek]

Hey guys, Ive been having a bit of difficulty lately with my PRV tool. Some days no problems and some days there is obvious discrepancies btw my chart/quote provider (Esignal) and my QT PRV tool outputs. I thought that by linking QT to Esignal that the data should be symmetrical but its not. I have a friend with the same setup and he also experiences this issue.

Does anyone have any advice on the matter? Does it have anything do to with a time synch issue perhaps? I noticed a few times that my PRV tool starts a new bar a sec before my esignal does and wondering if that may have something to do with it.

Thanks guys!

 

[bmonte]

Quote from Padawan:

I know more DOM data isn't a necessity, but it seems like there's a beautiful woman behind the curtain and all we can see is her toes. If CME is holding it to five then there's no use thinking about it anymore. Thanks, bmonte.

You are welcome. Please Don't take my "perhaps" statement about the CME as gospel, but I do know that my data suppliers (MB Trading and Mirus/Zenfire) are only suppling 5 levels ES.

If anybody out there is getting more, let us know how.

P.S. Padawan: How do you know the rest of that woman behind the curtain is as beautiful as her toes?

 

[Padawan]

Quote from bmonte:



P.S. Padawan: How do you know the rest of that woman behind the curtain is as beautiful as her toes?

I'm not a foot fetish kinda guy, but with toes like that she's got to be "stacked" in all the right places. And just like our eyes are attracted to those spots, my guess is that price is, too.

 

[ljyoung]

So far as I know there are three "types" of futures tick data that vendors will supply, ALL of which have their origin with CME. Check this thread for a discussion: http://www.elitetrader.com/vb/showthread.php?s=&threadid=117012.
ITC feeds do not support DOM, while IRC feeds do and I believe give a maximum DOM of five. I do not know if DOM depth is greater with the FIX/FAST feed but it might be.
It all boils down to $$ and how the retail consumer gets to "experience" the pricing of the various types of feeds is up to the vendor in the final sense and no doubt, as well, to the nature of the $$ transactions between the vendor and CME. Sometimes the vendor is CME.
As long as the consumer knows what they are paying for, no problem, IMO.

lj

 

[ljyoung]

Quote from achilles28:

That's the gist of it.

And perhaps I jumped the gun at bit. My bad.

In Jacks parlance, when price meets the converged LTL of LT, IT and ST you get very significant resistence or support.

Jack has noted this a couple times in CFBW.

The relevance of this is somewhat lost with the ES because of its dynamics - tighter range and shorter trends make for a *relatively* slower instrument.

The analogy is similar to the YM versus ES. YM trades faster - more pronounced - while the ES is slower and more deliberate.

Currency pairs fall along the same continuum in terms of cycling rate or speed. Euro, Nzd and AUS are relatively slow and methodical - think of taking Grandma for an ice cream cone. Yen crosses, notably the GBPJPY - think Daytona 500.

The relevance here - on faster instruments, the corresponding LT, IT and ST are much shorter. Therefore, the frequency of their occurrence is much higher. Thats key. For GBPJPY, the corresponding LT might be the 2 hourly or 1 hourly. IT 15 mins. ST 5 mins. The trends are simply that short because the range is that fast.

For an FX trader, like me, this 'aligning of the stars' is important. It happens on the ES too, just less frequent.

Good trading.

Thanks for the interesting post achilles. One of the problems with these boards is that unless you do a "backcheck" on a poster, to see what they've said and where they said it, assumptions are sometimes made which in retrospect turn out to be off the mark. So I would characterize my snipey remark about "prediction/anticipation" as fulfilling that criterion.
Fact is, as a reforming edger I know exactly what you are talking about and furthermore, IMO, if we don't pay attention to possible "edge effects" then we may miss stuff. Dear (not!! - but ask Vlad , he's rewriting the history textbooks) Joe Stalin had a saying that quantity has a quality of its own and if only because there are a lot more edgers than there are parasites, we as the best of all parasites need to be aware of things like big "S and R", "edger entry times", etc.

Good trading to you,

lj

 

[TraderD72]

Hello all,

I am thinking of switching to QuoteTracker and have a few questions.

-Have the trendline issues been fixed?

-Is the 2 minute PRV for the YM working now?

-Are those of you using it still finding it difficult to do alot of intraday annotating?

-Best data feed to use with QT?

-Any other current PRO's or CON's (probelms?) with QT?

I have a seperate execution platform (lightspeed) so I would need it just for charting.

Thanks in advance.

 

[svrz]

Quote from TraderD72:

Hello all,

I am thinking of switching to QuoteTracker and have a few questions.

-Have the trendline issues been fixed?

What was the problem? I have not noticed any issues. As far as I can tell, it works just fine.

-Is the 2 minute PRV for the YM working now?

Ditto.

-Are those of you using it still finding it difficult to do alot of intraday annotating?

The only issue that I have is drawing straight lines. I have a difficult time keeping them straight. That's about it.

-Best data feed to use with QT?

I use IB. So far so good. <keeping fingers crossed>

-Any other current PRO's or CON's (probelms?) with QT?

For basic charting and annotations, it is quite capable and you can't beat the price.

I have a seperate execution platform (lightspeed) so I would need it just for charting.

You should not have any problems. However, as with nearly everything else, YMMV.

 

[TraderD72]

Quote from svrz:

What was the problem? I have not noticed any issues. As far as I can tell, it works just fine.

This was posted earlier in this thread (bi9foot)...

Here is what I read A summary of the issues:

- Clone a line and when you try to move the copied line, depending on how close the line is to the original line, the original line gets moved even thought the copied line had the selection anchors
- If there is a bunch of lines near each other and one tries to move a line that is selected, usually the selection changes to the line that was created first and moves it instead.

 

[TraderD72]

And this about the 2 minute YM data...

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And also Ive just about had it with QT's PRV tool for the 2min YM, its absolutely horrible. I've counted 10, 2min bars today where is spit out the complete wrong volume.

The 5 min ES is fine which is dont understand.

Is anyone else experiencing issues with the 2min Ym PRV tool?