Spydertrader's Jack Hershey Futures Trading Journal
- Thread starter Spydertrader
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Hi,
I've been playing catchup on this excellent thread (and annnotating many charts) for the last week or so.
I think I'm doing well (and I love the purity of working just with PV), but I don't understand the last FTT and FBO on spyder's ES chart. The FTT is marked on a volatility expansion (which is a reconsidered FBO), while the FBO looks like an FTT. Could someone explain that to me?
Also, the basic rule set for trading doesn't say when to exit if you get a BO (and therefore hold) that then starts to retrace--is there a general rule?
TIA
I've been playing catchup on this excellent thread (and annnotating many charts) for the last week or so.
I think I'm doing well (and I love the purity of working just with PV), but I don't understand the last FTT and FBO on spyder's ES chart. The FTT is marked on a volatility expansion (which is a reconsidered FBO), while the FBO looks like an FTT. Could someone explain that to me?
Also, the basic rule set for trading doesn't say when to exit if you get a BO (and therefore hold) that then starts to retrace--is there a general rule?
TIA
Hi ive been spending the last few days looking and drawing channels in on daily charts. I just wanna make sure that i'm getting the right idea with the channel drawings and FTT/BO/FBO identifications.
Thanks
Thanks
in case ur wondering what market it is, its teh SPI200 daily. Also last part of spyder's ES chart looked like a volatility expansion. i couldnt pick up how the FTT came to be
thanks
thanks
my notes:
1. use bar charts. get rid of those candles.
2. put colors in the volume histogram.
3. make sure the channels touch pt1,2,3.
4. read this journal from the beginning. It helps to look at other's mistakes, and the discussion on those mistakes.
also, why not practice on ES? It would put you on the same page as everybody.
This is a nice effort to show how traverses build channels.Quote from Mr_Black:
This is a drawing a made in effort to help...for understanding
of fractals....
However I would advise you to revise your drawing to always annotate points 1 and 3 on the RTL, and point 2 on the LTL. It appears that you are reversing this.
I'll comment on your FTT/FBO question.
It appears to me that The last FTT (green) is indicating that the inside bar after the volatiltiy expansion failed to finish the traverse and this is what was referenced.
The ensuing retrace failed to BO the RTL and was marked as FBO.
HTH
edit: after re-reading your question I see some other potential confusion regarding the definition of a FBO.
A BO or FBO only apply to the RTL (which has defined the TREND).
An FTT only applies to the LTL (which relates to Traverses).
Please review Spyder's charts in this context and HTH.
Hey Terminator,
I haven't done what I call the "hindsight real-time drill" in a while. The drill is to take a chart and draw annotations as if you were doing it in real-time. For me, this means starting with 2 bars (tapes) and build "wider" channels from there.
So, FWIW, I gave it a go using your chart. I focused on the FTT's at the time of "Forest View" channel overlap. See the attached chart. BTW, there are a more FTT's in this chart depending on the "resolution" (tape, traverse, etc).
Since I didn't have my handy "cloning" tool, a lot of my LTL's are prolly slightly off (or really off
). Also, on some of the bars, my TL's completely cover up the candle "wick". So, you'll have to look back at your original chart in a few places.I'm not used to Candle charts, so I hope I didn't mess this up too bad. I assume the white candles are up bars and the black candles are down bars.
Anyway, this would be a good drill for others to do this weekend to compare notes. C'mon people, how bad did I mess this up? Show me...
[Edit: After looking at the chart again, I noticed that I didn't draw in some "steeper" traverses within the long channel. IMO, these are important. I decided not to upload a new chart. Maybe someone else can fix it. Sorry.]
spooz
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