Spydertrader's Jack Hershey Futures Trading Journal

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Quote from makosgu:

This too is my rule numero UNO! My rule numero DOS is if price breaks back above the RTL (intrabar), I have a FBO and there is an action for that. Ultimately, only 2 things can happen, either the action "clears" my RTL, or it FBOs and XO back towards the LTL... Intrabar, FBO is in my cards until the bar "clears" the RTL. Until it "clears", I am on alert to FBO the bar and reverse. Either way, there is no falling off the earth and on the right $ide of the action...

MAK
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Hi Mak,

Okay, if price breaks above RTL intrabar we have an FBO and there's an action for that.

What if price keeps on going intrabar above and below RTL? We keep on doing actions and lose 3 ticks on every action? I assume you are talking about YM because we're supposed to monitor YM when ES price is at RTL?

>Ultimately, only 2 things can happen, either the action "clears"
> my RTL, or it FBOs and XO back towards the LTL...

The key here is the word "Ultimately". What do you do when price approaches RTL? Do you decide to just wait a few bars before taking action? Any tips on that? Do you wait for buyers and sellers to eat eachother and then see who is moving the market (VDU?)

I regularly make mistakes around RTL.

regards,
Ivo
 
Quote from ivob:

Hi Spooz,

Your question:

When you saw the "highest volume of the day" on the 10:15 bar, were you thinking "hey, this might be a candidate Gaussian peak?

Ivo
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Hey Spooz,

I tend to agree with Ivob. When I see the highest volume for the day, I take it to mean that the trend will continue. That is I am expecting the possibility of at least on more dominant traverse after the traverse that gave the peak volume.

When I see decreasing gaussian peaks, then I am expecting a FTT. The PV relationship says as volume decreases, expect change.

I am referring to a gaussian peak as every R2B or B2R formation.

If this view is wrong please correct me.

Having said all these, I have found that it is sometimes better to ignore these kind of generalizations and base ones actions solely on continuation/change bar by bar.

I find that most times when I follow a generalization, I end up getting caught on the wrong side.

I will post my chart for the day in a while with some annotations.
 
ES 17 Sept 07

Got confused seeing increasing black at 13:45. Saw 13:30 as an r2r and the next 2 bars had decreasing black as price approached the anticipated pt 3. Suddenly I see increasing black at 13:45 and I think "Is my channel wrong?" 13:50 forms an FBP and 13:55 confirms the pt 3 with incr red vol.

The 14:45 outside bar also had me thinking wtf? Having seen the ftt at 14:20 I was patiently looking for the pt 3 which eventually arrives at 15:05.
 

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Quote from guavaman:

In reference to your previous post regarding the S/S and the tic chart working together, do you by chance have any video examples of how this actually works? I have rearranged my workspace to group these two tools together, but my ability to use them remains elusive :D.
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Hi Guava...

I currently don't have any videos (my camstasia trial ended). But just to know I understand you correctly what you're asking is a video to see the S/S work with the OTR chart when a 2-pair situation occurs, right?

I really don't have any videos now, but remember: Most of the times when S/S is erratic is because it's not well calibrated.

You need to have the S/S well calibrated. If you don't see this happen, meaning if you aren't seeing the str[squ]->neutral->squ[str] is because you don't have S/S well calibrated. YM leads at moments of change, so YM must lead.

In a Uptrend you expect to see S/S dancing between Stretch-and-Neutral. In a Downtrend you expect to see S/S dancing between Squeeze-and-Neutral. If you see price going steady in one direction and S/S is indicating the opposite, it is possible you need also to calibrate it. Neutral = [-2;2], but it's better to see neutral park around the 0 line.

Regards,

PS: If you want to understand more deeply this (why S/S works and how), ask Master Maksogu ... he is "Yoda" on S/S :D
 
Here is my chart for the day. I have highlighted an area I had trouble in the afternoon.

I also added some annotations regarding my earlier comment about gaussian peaks.
 

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Quote from bi9foot:

Hey Spooz,

I tend to agree with Ivob. When I see the highest volume for the day, I take it to mean that the trend will continue. That is I am expecting the possibility of at least on more dominant traverse after the traverse that gave the peak volume.
...
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Hi bi9foot,

First of all let me clarify that Spooz and me do not disagree. He just asked me a question for clarification.

Second I would like to ad that this is all a matter of zoom in and zoom out. First we look indeed at bar to bar. Then after that we compare with volume levels on same price levels. (esp at the highs/lows)

Assuming an uptrend my ideal FTT is one that:

- does not touch LTL (by definition)
- has lower volume than previous bar. I would say 60%-80%
- makes a new high but closes below the high of the previous bar
- takes place around the high of that day
- has lower volume than a previous high earlier in the day.

That FTT I would take immediately.

regards,
Ivo
 
Quote from ivob:

Hi bi9foot,

First of all let me clarify that Spooz and me do not disagree. He just asked me a question for clarification.


Ivo
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I went back and read the comments by spooz and I realized that I misunderstood what he meant. For some reason I thought that he meant the candiadate Gaussian peak gave a clue to a FTT, which is not what he said.

My apologies for any confusion.
 
Pepe,

You are correct that I am looking for a visual demonstration of how the SS and the tic chart work in concert. To date I just don't see any correlation. I do use the SS as you described, but find it useful only in the vaguest and inconsistent way.

I am hoping there will be additional discussion of the tic charts as their meaning and usefulness fully escape me. The relating of anyone's successful experiences using this tool would be much appreciated.

Thanks in advance.
John
 
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