Spydertrader's Jack Hershey Futures Trading Journal

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Quote from Jason Rosen:

Great! I feel like I'm learning this stuff really fast but I'm not going to jump the gun and skip ahead. I like where I'm at now and I see how money can be easily made with the little knowledge I already have. As for the tapes, I do add them real time but remove them as the day goes on to clean up the chart a bit. It makes the forest view a lot clearer.

Thanks again for all of your effort in compiling this forum. I set a goal to get rid of my day job in 8 - 12 months and it looks like that may be a reality a lot sooner. One step at a time though...
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Hi Jason,

Great that you're getting it.

One very important thing is to apply the stuff you learned on a lot of different market conditions. This often fools me especially when volume gets lower. So you need to build up some experience now that you're developing the skills.

regards,
Ivo
 
Hi all, I am new to posting on the thread. Just a question about gaussians. Yesterdays 3:55 bar has greater red down volume than any other black up bar associated with my up channels which are still in tact. I know volume gets screwy towards the close but do these up channels from yesterday still carryover even though the gaussian doesnt make sense?
 
Quote from ivob:

Hi Jason,

Great that you're getting it.

One very important thing is to apply the stuff you learned on a lot of different market conditions. This often fools me especially when volume gets lower. So you need to build up some experience now that you're developing the skills.

regards,
Ivo
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Yeah I see where low volume can get you in trouble quickly if you're not careful so I'm avoiding analyzing low vol. periods until I feel like I understand the material better. I usually don't pay too much attention to movements between 11:30 - 1:30 although I do watch to see how the market moves during that time. Thanks for the advice...
 
Quote from Jason Rosen:

Yeah I see where low volume can get you in trouble quickly if you're not careful so I'm avoiding analyzing low vol. periods until I feel like I understand the material better. I usually don't pay too much attention to movements between 11:30 - 1:30 although I do watch to see how the market moves during that time. Thanks for the advice...
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What happens to me regularly is that I have a great start but exit too early. Volume was high and I should have zoomed out, held longer and the market told me that.

Then a loser or a few washes because pace slows down. Then another good entry but subconsciously I want to make up for the earlier loss so I hold longer than the market told me.

Of course this ends up with another loss because in the meantime pace has slowed down even more. So this is the opposite of what I should have done but it's too late.

I should not decide when to exit. The market should.

Anyway, this is what happens sometimes: ignoring what market is saying. It ends up messy.

regards,
Ivo
 
Quote from PointOne:

4. How do you find the happy medium between hyper over-analysis and complete disinterest? (i.e. how do you get yourself into the state of optimal performance versus arousal.)

Can you even verbalize what you do?
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I have my favorite music on.
I keep focused on what is happening, but the music puts me in a really good place.

Kind of like listening to music when you work out ( exercise), or before playing a sport.
It can give you a really good energy, that brings what your doing up a notch.
 
Quote from PointOne:



4. How do you find the happy medium between hyper over-analysis and complete disinterest? (i.e. how do you get yourself into the state of optimal performance versus arousal.)

Can you even verbalize what you do?
More...

This happens automatically as time passes.

Experience, routine and concentration.

When you gain experience being on the right side becomes routine. Routine prevents arousal. In the meantime you know you always have to remain concentrated and stay out of prediction mode. After all not one day is the same, we just apply our knowledge to situations that are like situations we learned about.

regards,
Ivo
 
Quote from ivob:

This often fools me especially when volume gets lower.
regards,
Ivo
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Ivob,

In my experience it is not low volume that snakes me as much a lateral movement. If volume dries up I know to be careful or simply withdraw. However, when volume and volatility remain it is the lateral movements and the percieved volume sequences that really chew me up.

Of course there are many other scenarios that provide a healthy dose of angst during the day such as general choppiness. Like all the other methods I have pursued for the past several years; after the fact, at the end of the day, it all seems so clear and obvious. Real time trading, however, with all the false moves and intra bar volatility rarely provide that type of clarity.

For example as I write this; the period starting at 11:10 to 12:10 (yes I am aware it is lunch time but volume remained high) has been kind enough to provide a nice example of angst :). Thanks to the volatility of this period I estimate a loss of at least 7 pts. Bummer :(.

Unfortunately this type of experience is simply a replay of all the other methods I have pursued over the years. The methods make sense and after the fact I see clearly where I should have done this or that, but the actual performance is lacking.

I remain hopeful however that the blunt force of effort I have applied will eventually overcome the method and/or my own shortcomings. Additionally, whatever future tools or perspectives are presented may be just the tonic I need to turn my trading into a rewarding, enjoyable and profitable venture. Imagine that :D.

With thoughts from the dark side....

guava out
:cool:
 
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