Spydertrader's Jack Hershey Futures Trading Journal

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Today's chart. So I made my first volume assisted identification in real time. The first circled area I identified as a flaw instead of an FTT based on the decline in volume after the volatility expansion, and the second as an FTT based on the increasing black volume as price rose. Is this thinking correct?

Next week I plan I getting my FTT labels color coded like spyder's to make it easier to ID the FTT with the proper channel. I also plan on trying to ID more of the minor FTT's.

Last Q- should we be keeping the daily log sheets yet, or am I doing everything I should be right now by just drawing channels, looking at volume, and finding the FTT's?

Good weekend all.
 

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Today's chart. So I made my first volume assisted identification in real time. The first circled area I identified as a flaw instead of an FTT based on the decline in volume after the volatility expansion, and the second as an FTT based on the increasing black volume as price rose. Is this thinking correct?

Next week I plan I getting my FTT labels color coded like spyder's to make it easier to ID the FTT with the proper channel. I also plan on trying to ID more of the minor FTT's.

Last Q- should we be keeping the daily log sheets yet, or am I doing everything I should be right now by just drawing channels, looking at volume, and finding the FTT's?

Good weekend all.
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You can start with a simple log with columns of what you need. As time passes you will improve the log and logging.

This leads you to debriefing with your log and the charts you annotated.

You scribed some circles. Cooment on them in your log in a remarks column.

Ease into this.

This is a great post and it fits into the category of recognizing that you are pgressing and that the added tools are a log and the log leads to debiefing by comparing.

Here is an observation that would be typical as you work the charts and log.

"I see the BO of the channel following the FTT"

"OHHHHH I see the B2B prior to the BO and after the FTT"

"OHH now I see volume increasing in black (for 4 bars, with PRV) after the BO it looks good here for 20 minutes on this hold"

"OH, what follows a peaking black volume on the this 20 minutes."

You can also make a note to put in the 1, 2, and 3's for a while.

Note in your log when you do this.


Now you are seeing the market come into view. as a consequence of locking in successes in annotating begining to log and beginning to debrief.


When you HOLD to a BO (on the retrace from FTT to the LTL) and then have 20 more minutes in the Reversal dominant traverse following the retrace (non dom) you are in the groove.

You can imagine logging all these comments as time passes. The benefit is that yu are consciously and unconsciously logging in your mind as well.

If all the above is logged as it happens, then what? Then your debriefing is going to be magnificent and you are going to want to have MORE to work with....

Note well : your second FTT is a little messy. But.... debriefing cleans it all up .
 
My annotations normally correspond fairly well with Spyder's. Today I did notice some significant differences. I don't see a problem with this as the outcome was the same: seeing where the market turns.

I wonder if seeing it differently as I have would cause some problems in the future as we add more tools. I have attached my ES chart below.
 

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Quote from jack hershey:
snip:
When you HOLD to a BO (on the retrace from FTT to the LTL) and then have 20 more minutes in the Reversal dominant traverse following the retrace (non dom) you are in the groove.
snip:
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I am having trouble picturing the above sequence, but I am far away from being in the groove.:confused:

Shouldn't the part in parentheses read: (on the retrace from the RTL to FTT)?
 
Quote from R/R:

I am having trouble picturing the above sequence, but I am far away from being in the groove.:confused:

Shouldn't the part in parentheses read: (on the retrace from the RTL to FTT)?
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Sorry for the post - I phrased it poorly and now I understand Jack's description. I think Jack was describing (in my words):
(on the move from FTT through the BO of the original channel to the point 2 which would establish the new LTL).
 
Doing some reading tonite and have a question which I hope is applicable to our current discussions. The following is a snip from the closed thread titled "Jack Hershey Trading" by OP Nwbprop:

Snip from Grob109,

"Your scale from now on is 2 points on ES. Arrange the dis[play from top to bottom as follows: Price, volume MACD, slow STOC and Fast STOC."

I'm pretty sure this is the second time I have seen mention of doing this, and I can make no sense of it. Is this suggesting to scale the Y axis of the price bar chart region to 2.0 ES points, as it says? Doing so on my charts creates an utterly useless myopic view. Is this a typo that is meaning 20 pts?

Sorry again - I'm one of these people who can get hung up on the smallest of details. Can someone clear up what I'm missing here. As usual, tia ...
 
Quote from mephistoII:

Doing some reading tonite and have a question which I hope is applicable to our current discussions. The following is a snip from the closed thread titled "Jack Hershey Trading" by OP Nwbprop:

Snip from Grob109,

"Your scale from now on is 2 points on ES. Arrange the dis[play from top to bottom as follows: Price, volume MACD, slow STOC and Fast STOC."

I'm pretty sure this is the second time I have seen mention of doing this, and I can make no sense of it. Is this suggesting to scale the Y axis of the price bar chart region to 2.0 ES points, as it says? Doing so on my charts creates an utterly useless myopic view. Is this a typo that is meaning 20 pts?

Sorry again - I'm one of these people who can get hung up on the smallest of details. Can someone clear up what I'm missing here. As usual, tia ...
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mephistoII,

I'm glad you've brought this up. If you take a look at the chart Spyder posted today, you'll notice the horiz. price grid lines are spaced by 2.0 ES points in a certain amount of Y space. On my monitor, this takes up ~7/8 of an inch per 2 pts.

I could be wrong, but I believe that both the Y spacing and bar spacing/width (X) make a difference when comparing TL's from one's chart to someone elses. Also, sometimes slight angle differences can make a difference in drawn TL projections. However, in the end, "gross" end effects probably are consistent (channel FTT's, etc).

It would be cool if everyone's spacing was similar but this is probably beyond a pipe dream due to monitor resolution, charting software, etc.

Other comments anyone?

spooz
 
What you want to see is 10 points of price action on the screen to keep the charts looking similar every day. Using a different scale each time it distorts the moves and your perspective. Jack calls it getting calibrated. On large range days you have to adjust it some, but usually 10 points will work fine.

Using Qcharts that makes your scale divisions on the side read in 2 point increments: 1414, 1416 1418 1420, 1422, 1424. Different platforms might read different.

Regards - EZ
 
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