Spydertrader's Jack Hershey Equities Journal II
- Thread starter Spydertrader
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just a final question to those lines. i understand that you need at least two price bars to draw a line (or channel) - but you can do that only after the second bar is over, right ? (so on a 5 min chart after 10 min.)
so where do you then enter? the way i see it - if we only have price and channels and nothing else that could give a hint - by the time you get the idea where your entry point would have been isn't it already too late?
so where do you then enter? the way i see it - if we only have price and channels and nothing else that could give a hint - by the time you get the idea where your entry point would have been isn't it already too late?
You have incorrectly interpreted the instructions given with respect to locating an FTT. Whether this misunderstanding resulted from you failing to read directions, lack of reading comprehension or my own failure to communicate, I cannot say. In my response to mephisto, I recommended three posts to explain how to locate the FTT within the dominant trend. You have circled areas in the many charts posted within traverses - two entirely different things. By example, you have focused on the trees, when you should be looking at the Forest.
With respect to your "One final question" posted, I recommend learning to locate the FTT using price and channels only - in the beginning. Adding the extra tools discussed throughout Jack's threads (at a later time) provides input to confirm or invalidate whether one indeed sees an FTT. Watching a chart develop in real time (over and over again) trains the brain to locate certain patterns develop within price action. The more practice one performs, the faster one learns to recognize a certain situation. It is for this reason, I have recommended learning to trade equities first as one has an entire day to decide if one sees an FTT. At the same time, I recommended practicing on a five minute ES chart - because more FTT's occur during a day on the ES than often in a month of daily equities charts.
If you wish to debate the results of transference using these recommended courses of action, fine by me. I'll gladly discuss the matter at great length with you in another thread of your choosing - linking to that alternate location from here so all may tune it at their leisure. However, if you wish to debate the existence of FTT's and the ability of a trader to recognize them, I have no interest. FTT's exist in any market, in any time frame (provided sufficient liquidity exists).
This isn't a cult, sect or mutual admiration society here no mater how much you like to claim it is. Various traders follow these discussions for many different reasons. Many want to learn something of value, some want to simply sharpen their skills or develop an extra tool for their own trading toolbox. Others, appreciate the structure provided in the learning process. Whatever their reasons for visiting, each has shown respect for others following along. I encourage you to do the same.
Just because you fail to recognize something, doesn't mean that something doesn't exist. After all, I haven't seen Oxygen floating around in the air yet, but I'm pretty sure its there.
Good trading to you.
- Spydertrader
great!
i already know those 3 posts you mentioned - thanks.
yes i understood some things wrong - my mistake.
but i can't find a reason why you refuse to discuss one or two questions HERE - and there is no need to constantly belittle me (and it won't solve any problems). i'm here to learn - believe it or not. sitting in front of the computer is not what i see as a way of killing time.
you still did not tell me when EXACTLY you enter (the arrows and pencils you put on the chart) on the 5 minute chart. at the beginning of the next bar right after the "ftt"?.
(and it would really be generous and helpful if you included the executions log.)
thanks a lot.
Attached is a sheet, designed for the ES, which you can use for manually determining PRV.
The sheet is divided up so that vertically is time (each horizontal line represents a specific point in time) and horizontally is volume (each vertical line represents a certain number of contracts traded.)
Simply print out the sheet and mark the volume which has accumulated at the points in time.
The sheet is divided up so that vertically is time (each horizontal line represents a specific point in time) and horizontally is volume (each vertical line represents a certain number of contracts traded.)
Simply print out the sheet and mark the volume which has accumulated at the points in time.
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