Spydertrader's Jack Hershey Futures Trading Journal
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Maybe we're saying the same thing with different words... Bottom line: decreasing volume (on our trading fractal) is a signal of change, and we should anticipate a reversal. On increasing or constant volume we should anticipate holding, and we should've already placed us on the right side of the market.
Saw it and took appropriate action - entering on the right side of the market. Shortly after I took inappropriate action - closing out despite there being no sign of change!
A quote from Jack that I hope no one minds me re-iterating :-
The wall is built primarily by your subconcious input as has been explained to you ad nauseum.
This journal is NOT devoted to "the cure". It is devoted to building minds to excell in a manner that is going to bear fruit for others who have an array of problems.
He also talks in some depth about working purposefully. My chief purpose is working towards taking appropriate actions.
Cheers,
P.S. I hope my posts aren't distracting as I am 'behind the pack' in so far as I am still in March!
A quote from Jack that I hope no one minds me re-iterating :-
The wall is built primarily by your subconcious input as has been explained to you ad nauseum.
This journal is NOT devoted to "the cure". It is devoted to building minds to excell in a manner that is going to bear fruit for others who have an array of problems.
He also talks in some depth about working purposefully. My chief purpose is working towards taking appropriate actions.
Cheers,
P.S. I hope my posts aren't distracting as I am 'behind the pack' in so far as I am still in March!
Here is a look at the ym daily chart I have on the side. This is what it looks like as of 1:30pm.
Here is my reply to a PM I received today in reference to callmate's chart from earlier today and my post that followed. Thought it might be of interest.
First the DT FTT on the 1045 bar let me know to expect price to go down. Could be a retrace so let's watch what happens at the RTL. Barely increasing blk volume compared to the volume that made the DT. So I check the YM and see blk volume about the same, not increasing. So now I think, pt 2 down, and wait for a pt3 to form. Yes the YM matched the HOD but on LESS volume AND since the ES didn't follow, I assume the ES is WEAKER. Therefore I wait to go short on inc red vol.
Notice this same scenario repeated again starting with the FTT at 1150.
The confidence comes from lots of screen time and KNOWING that I do in fact KNOW what to 'expect' next and if 'it' doesn't show up, then exit and regroup.
First the DT FTT on the 1045 bar let me know to expect price to go down. Could be a retrace so let's watch what happens at the RTL. Barely increasing blk volume compared to the volume that made the DT. So I check the YM and see blk volume about the same, not increasing. So now I think, pt 2 down, and wait for a pt3 to form. Yes the YM matched the HOD but on LESS volume AND since the ES didn't follow, I assume the ES is WEAKER. Therefore I wait to go short on inc red vol.
Notice this same scenario repeated again starting with the FTT at 1150.
The confidence comes from lots of screen time and KNOWING that I do in fact KNOW what to 'expect' next and if 'it' doesn't show up, then exit and regroup.
Quote from nkhoi:
nkhoi, those "stick figure" tapes look like they fall right on the lows and highs without error. Did youmanage to code them too?
RoughTrader
I was wondering if anyone had a method for getting their EQ/IQ in order before the trading day starts. I got a late start today and I was all over the place... mentally felt like crap after I threw up my hands in the morning.
Fortunately I caught the 14:30 FTT bar long... so that sort of made up for it. My mental state was relaxed...Still, I know I need to be able to consciously deduce when I may inadvertantly go off the rails.
I think the answer is probably to simply avoid trading the AM if I sit down at the computer after 9:30 (I'm too rushed and feel like I have to get in rather than let the market show me when to get in) and wait until the afternoon so I can build my carryover channels...gaussians etc. for the post noon BO.
If anyone else has suggestions I am open to them.
Maybe I'm just writing to myself to burn it into my subconsious.
oh here is the question: How do you know when your own mental state is relaxed vs. hyper and prone to being trigger happy? By what method do you objectively ascertain this EQ aspect?
Secondly, if you are in the wrong frame of mind...i.e. not calm and relaxed... how do you PUT yourself in the correct mindframe?
(this post has not been proofread).
Fortunately I caught the 14:30 FTT bar long... so that sort of made up for it. My mental state was relaxed...Still, I know I need to be able to consciously deduce when I may inadvertantly go off the rails.
I think the answer is probably to simply avoid trading the AM if I sit down at the computer after 9:30 (I'm too rushed and feel like I have to get in rather than let the market show me when to get in) and wait until the afternoon so I can build my carryover channels...gaussians etc. for the post noon BO.
If anyone else has suggestions I am open to them.
Maybe I'm just writing to myself to burn it into my subconsious.
oh here is the question: How do you know when your own mental state is relaxed vs. hyper and prone to being trigger happy? By what method do you objectively ascertain this EQ aspect?
Secondly, if you are in the wrong frame of mind...i.e. not calm and relaxed... how do you PUT yourself in the correct mindframe?
(this post has not been proofread).
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