Spydertrader's Jack Hershey Futures Trading Journal
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These last series of posts sound very similar to my current level of progress. Still a lot of confusion sometimes, but I feel the pieces are falling into place more and more. Have not mentioned it here before, but I started a journal (now in 3rd week of posting) which can be found here: http://www.elitetrader.com/vb/showthread.php?s=&threadid=90495
if anyone is interested in comparing daily trade activity.
I experienced a marked improvement in my success rate pretty quickly, after beginning the method studies. Have basically leveled off here (results in journal) for a couple months, but I attribute that more to self-issues which need to be overcome. Mind you, I am very profit (doesn't need to be big necessarily) oriented and risk-averse, and that does fly in the face of our 'hold' rule - so its just an ongoing tug-of-war within the psyche. I choke off good entries if the mkt hits a stall - for some reason I need to see positive action rather quickly - after all, I did have to expend all that energy clicking the mouse - where's my reward? - lol. I know - its a major problem, so I joke about it to relieve the frustration.
I am trying to proceed as tho the hypothetical journal acct is actual, and hopefully will be able to add another contract soon, so as to have two cts on out of the gate. Then perhaps I can satisfy my need for quick profits, and leave the runner on per the methods. Wondering if anyone else struggles with these mental trip-ups? Regards, and let's keep pluggin away ...
if anyone is interested in comparing daily trade activity.
I experienced a marked improvement in my success rate pretty quickly, after beginning the method studies. Have basically leveled off here (results in journal) for a couple months, but I attribute that more to self-issues which need to be overcome. Mind you, I am very profit (doesn't need to be big necessarily) oriented and risk-averse, and that does fly in the face of our 'hold' rule - so its just an ongoing tug-of-war within the psyche. I choke off good entries if the mkt hits a stall - for some reason I need to see positive action rather quickly - after all, I did have to expend all that energy clicking the mouse - where's my reward? - lol. I know - its a major problem, so I joke about it to relieve the frustration.
I am trying to proceed as tho the hypothetical journal acct is actual, and hopefully will be able to add another contract soon, so as to have two cts on out of the gate. Then perhaps I can satisfy my need for quick profits, and leave the runner on per the methods. Wondering if anyone else struggles with these mental trip-ups? Regards, and let's keep pluggin away ...
Very good suggestion, nkhoi! I do tend to snub the YM sometimes in the heat of battle - too much stuff on one screen can create overload here. Thanks for the reminder!
As others have already mentioned, and from Spyder's post(s), sweeping STR/SQU is done at "Action Points", right?
That said, I believe having some form of historical tracking is important for Fair Value ("Offset") calibration. If all one has is a meter that shows the NOW, then how does one know if the current Offset is correct or even reasonable? Having some form of history allows one to perform visual "centering". And if the Offset is wrong, then any STR/SQU signals you see are prolly wrong, right?
Or, you can attempt to calculate the FV in RT. My experiment with this so far seems reasonable and I'm anxious to compare notes with others today as the previous days were fairly calm. So, here are some of my "Auto-Calculated" FV/Offsets at various times of day. Any feedback would be appreciated.
10:00 62.32
11:00 61.43
12:00 61.05
13:00 60.97
14:00 60.82
15:00 60.63
16:00 60.69
spooz
I reviewed the last several pages of posts.
things will settle down as time passes.
Knowledge can be read here.. it is quick to do.
Skills take a little practice. Mada and a log works best. You do not look at the screen so much. You sweep and remember to log the essentials. If you have continue at coarse, then just log the mode and be cool. The mode is continue and the action is hold. Restful and cool.
The digits for the offset are not going to contain any decimal stuff.
Above you see OUR significant figures. we are not looking for a grain of sand in a thousand grains.
We see a band of values that is +2 to -2 wide. 4 YM/INDU points.
A swipe of a paintbrush on the chart.
the thing we want to look for is a move out of the band that is like the width of the band. It is a solid occurrance.
even if your are skewed sownwaht this is an evident and nice trigger to wake up for a turn in the next short while.
Most of the time we are in continue and not sweeping in the "Change" Mode. when we are we decide to act. ACT and then sweep some more.
If we see a consequence of sweeping later, we then deal with it.
The idea of the S/S is to add another tools that confirms what you know from the ES P and V and also from the tip offs on the YM P and V.
TO BE SURE there are a lot of other helpful things coming down the pipe.
If 50 of you zipped up your daily setting for neutral on the S/S to start the day, we could easily see democracy rules and that no one was using four significant figures when two will do.
things will settle down as time passes.
Knowledge can be read here.. it is quick to do.
Skills take a little practice. Mada and a log works best. You do not look at the screen so much. You sweep and remember to log the essentials. If you have continue at coarse, then just log the mode and be cool. The mode is continue and the action is hold. Restful and cool.
The digits for the offset are not going to contain any decimal stuff.
Above you see OUR significant figures. we are not looking for a grain of sand in a thousand grains.
We see a band of values that is +2 to -2 wide. 4 YM/INDU points.
A swipe of a paintbrush on the chart.
the thing we want to look for is a move out of the band that is like the width of the band. It is a solid occurrance.
even if your are skewed sownwaht this is an evident and nice trigger to wake up for a turn in the next short while.
Most of the time we are in continue and not sweeping in the "Change" Mode. when we are we decide to act. ACT and then sweep some more.
If we see a consequence of sweeping later, we then deal with it.
The idea of the S/S is to add another tools that confirms what you know from the ES P and V and also from the tip offs on the YM P and V.
TO BE SURE there are a lot of other helpful things coming down the pipe.
If 50 of you zipped up your daily setting for neutral on the S/S to start the day, we could easily see democracy rules and that no one was using four significant figures when two will do.
Thanks Ivo for your reply. As dkm, I am also having trouble showing a profit at the end of the day.
It is good to know you and others are able to be positive even if it is on sim. That tells me that the problem is in my head not the tools.
I will do this until I get it done.
I use esignal and as you know it doesn't seem to show what we need to see. If you can, could you please post a pick of the indicator showing a bar you used to make a change/decision in your position.
Probably the height of the bars is the issue.
Here is a copy of STR/SGZ 1 min on esignal today adj. at 60.23
Thanks !!!
Frustating? I only wonder how many have taken their lives...
I think you're onto something with this. I used 60 today (can't remember if I started w/ that or if I adjusted down to that in the morning -- I need to start logging my adjustments). Not saying 60 was the best number to use, but it was sufficient for me. I believe you mentioned previously about including all ticks for the day in your calcs. Have you experimented with using a sliding window of say the last 30 or 60 minutes, to make it more responsive?
I didn't see this but it may very well have been a strong early warning, I'm curious to hear other opinions. I tend not to even look at squ/str the first 5-10 minutes. My approach is to let the market settle down and then eyeball a neutral FV (I no longer look to indexarb as a starting point). Until the mkt has synched, I don't trust my offset.
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