Spydertrader's Jack Hershey Equities Journal II
- Thread starter Spydertrader
- Start date
- Status
Charly
Once you establish a channel and price fails to traverse to the left side of the channel you have an ftt. Pretty difficult to spot until a another bar or two have passed but you dont really have to enter/reverse right there to use it effectively. It tells you the trend is changing and then you can use the ftt as point one of a new channel and wait for a point three to show up and enter there.
Once you establish a channel and price fails to traverse to the left side of the channel you have an ftt. Pretty difficult to spot until a another bar or two have passed but you dont really have to enter/reverse right there to use it effectively. It tells you the trend is changing and then you can use the ftt as point one of a new channel and wait for a point three to show up and enter there.
Heres one from Thurs morning. I think some people use the ftt itself as a point three for a new channel but I prefer to wait until the trendline is broken:
<img src="http://www.elitetrader.com/vb/attachment.php?s=&postid=1290605">
this puts me in a bit late but better late than never.
<img src="http://www.elitetrader.com/vb/attachment.php?s=&postid=1290605">
this puts me in a bit late but better late than never.
Something for next week perhaps ?
<IMG SRC=http://charts.dacharts.com/2006-12-09/Joab15.png>
http://charts.dacharts.com/2006-12-09/Joab15.png
<IMG SRC=http://charts.dacharts.com/2006-12-09/Joab15.png>
http://charts.dacharts.com/2006-12-09/Joab15.png
Imagine an individual with a desire to become a neurosurgeon saying,
"What? You want me to attend 4 years of College, 4 years of Medical School, a year of Internship and seven years of Residency just to become a surgeon? That's unfair!!"
Sounds silly doesn't it?
Here are the results of what you termed "does not really help".
RTFJ
- Spydertrader
Does anybody face this problem and if so how do you overcome it? Thanks.
When I draw channels on daily timeframe and view it on an intraday charts, the channel does not connect to the candlesticks properly ie the channels are out. Similarly if I draw the channels on an intraday basis, the channels will look incorrect when viewing the daily charts. As a result I end up usually having to draw 2 set of channels.
When I draw channels on daily timeframe and view it on an intraday charts, the channel does not connect to the candlesticks properly ie the channels are out. Similarly if I draw the channels on an intraday basis, the channels will look incorrect when viewing the daily charts. As a result I end up usually having to draw 2 set of channels.
Mischief,
Do you mind disclosing what is your stop loss (is it a trailing stop loss of 5%, 2% etc from the highs)? Also, a rough ratio of trades that hit your profit target versus being stopped out (trades already in profit) and versus trades that suffered a loss. Thanks.
The reason I asked is because yours are automated and I would like to have a feel of how an automated one will be like.
Anybody that has an automated system are very welcome to comment on the above also. Thanks
Do you mind disclosing what is your stop loss (is it a trailing stop loss of 5%, 2% etc from the highs)? Also, a rough ratio of trades that hit your profit target versus being stopped out (trades already in profit) and versus trades that suffered a loss. Thanks.
The reason I asked is because yours are automated and I would like to have a feel of how an automated one will be like.
Anybody that has an automated system are very welcome to comment on the above also. Thanks
I am so sorry...all of this is so overwhelming. I am not the sharpest nail in the shed with my plain speak and all... consider I drive a wood grain and I am a Forex Trader.
How in the world am I going to apply this to Retail Spot Forex and publish a SIMPLE rendition of the SpyderHershey method...
frustrated!!!
Talk to me tomorrow...I am in no mood! I feel like my plate is full...I need some drugs to sleep less!
I gotta start drawing some trend lines I guess...and look for the FTT's and FTB's.
I had my 2007 planned and now this blockbuster comes along...You know as you grow older you become like an old dog...you become accustomed to your routines and depend on them...to learn new things gets harder..
Go back to your trading now..and forgive the intrusion.
Michael B.
How in the world am I going to apply this to Retail Spot Forex and publish a SIMPLE rendition of the SpyderHershey method...
frustrated!!!
Talk to me tomorrow...I am in no mood! I feel like my plate is full...I need some drugs to sleep less!
I gotta start drawing some trend lines I guess...and look for the FTT's and FTB's.
I had my 2007 planned and now this blockbuster comes along...You know as you grow older you become like an old dog...you become accustomed to your routines and depend on them...to learn new things gets harder..
Go back to your trading now..and forgive the intrusion.
Michael B.
- Status