Spydertrader's Jack Hershey Futures Trading Journal

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Quote from Spydertrader:

Try annotating the YM (even though it is in hindsight) around the time of confusion to 'see' if anything can be gleaned from the activity.

- Spydertrader
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Thank you Spydertrader for your comments on the bar I found so confusing. My charting platform didn’t allow me upload a 2 minute YM chart from yesterday but I’ve downloaded Quotetracker and when I get it to work I’ll review the YM chart as you suggested.

Looks like it’s time for the February Journal as well as another trip to Kinko’s to print Pr0crast’s compilation!

- river
 
Both the ES and the YM volume levels at 10:20 were small relatively to the 10:05 levels.

You can see my chart: http://www.elitetrader.com/vb/attachment.php?s=&postid=1583927
Quote from river:

I really struggled with yesterday’s 10:20 bar and I’m hoping someone would share their view of the unfolding PV action at that time. (I was REALLY hoping Spydertrader would post an ES chart last night but I haven’t seen one posted).
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Using January’s tools, what did I misread? Any comments or thoughts from that time period yesterday?

-river
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Quote from TIKITRADER:

I would like to share my thoughts, as I captured them live, in this series of three screenshots with annotations.

It is of the time period 2:30 to approximately 2:33.

These screenshots were capturing my thoughts, as action was unfolding.
Please review all three, in a row as posted.
I was watching for a point three to form in an up channel on ym.
Price on ym is in a lateral movement.
a wall is developing on the ES DOM.
Tic is starting to show a 2 pair form.

This is just to share my experience as I learn, not to say , what I see here is right, it is nothing more than how I viewed the market at this time period.
enjoy
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Did the wall stick or disappear as it got to the inside pair?
 
In the last uptrend of the day, how was it possible to see the previous FTT contain a point 1 and 2 simultaneously (on the same bar) for this uptrend?
 
Quote from makosgu:

Did the wall stick or disappear as it got to the inside pair?
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Hi Mak,

I do not get to see the tape on open e cry, I do get to see the tape of ym on esignal.

All I can do is look to see if the wall is pulled quickly , or in segments.
While watching the DOM it appeared to get taken out in segments.
I could use all the help I can get while learning, If someone has a screenshot of the tape at that time, that would be great.

Mak, is there any way to see this, without the tape to confirm?
 
Quote from suriano3:

In the last uptrend of the day, how was it possible to see the previous FTT contain a point 1 and 2 simultaneously (on the same bar) for this uptrend?
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'Tapes' are made with 2 bars, whereas channels result from a minimum three bar formation. I don't normally draw in the tapes on my charts (in an effort to reduce the number of lines and eliminate confusion for posting). Today, I left a few 'tapes' in place. The area to which you refer began as a 'tape,' but then 'rocketed' and grew into a 'channel.'

In other words, we did not have an up tape followed by a down tape to create the channel in this example. See bundlemaker's channels video for additional explanation.

- Spydertrader
 
Hi Spyder
I had a remarkable thing happen today. I was anticipating the end of one of the many retraces during the uptrend today. I can't remember which one. I was watching the DOM without any real purpose when I saw 1000+ contracts on the sell side. After it was there for a second or two, it disappeared, only to show up on my T&S as transactions. I have it set to filter everything less than 50 contracts so the important activity dint get buried in all of the small orders that churn through. I was excited about seeing that, but not sure why at that moment. All of the sudden I understood what happened. The wall got chewed through and it was confirmed by the T&S. The whole thing happened so fast that my mind understood before I realized it. .:D

I can't be sure of the actual size because I didn't record my screen, but I remember the sequence. large number on the sell side and smaller number on the buy side. Then the sell side changed to a small number, and transactions showed up on my T&S then price moved higher. I think I would have had about 2 seconds to react with a market order on the long side.
This was a continuation signal to the upside I believe.

Does this make sense or am I delusional?


Here is my chart for the day.
 

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Quote from Spydertrader:

08-29-2007 ES Chart

- Spydertrader
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Hi Spyder,

in your chart around 11:45, you marked first two short red bars as dips, and third one as FTT, why? they look the same to me. Is it something YM?

Thank you.
Eric
 

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It is a great drill! Add the PRV, and the channels, and ... you got your SCT. :)
Quote from stepan7:

... But, I have question.

Does anybody using IF1, IF2, APA ?
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