This is the worst trading day I've ever had. I know I went against the dominant too many times. I thought I would post my chart anyway.
Spydertrader's Jack Hershey Futures Trading Journal
- Thread starter Spydertrader
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Here's my short trade entered on the 13:05 bar:
Entry MADA = FTT of teal long channel, break of prev. bar low on +PRV. Anticipated sequence is retrace to RTL, monitor price action at SMA and RTL for FBO.
Price then rocketed lower after RTL BO on reduced volume.
After the larger pt2 was established at 13:15 I held through the retrace anticipating pt3 as the sym pennant/lateral formed. I exited when I saw B2B (intrabar) on 13:35 to preserve 50% of my MFE of 7 points.
This brilliant move picked the exact hi of the pt 3 bar as my exit.
I re-entered short and grabbed a couple more points.
It has been tough for me to hold through large retraces.
Entry MADA = FTT of teal long channel, break of prev. bar low on +PRV. Anticipated sequence is retrace to RTL, monitor price action at SMA and RTL for FBO.
Price then rocketed lower after RTL BO on reduced volume.
After the larger pt2 was established at 13:15 I held through the retrace anticipating pt3 as the sym pennant/lateral formed. I exited when I saw B2B (intrabar) on 13:35 to preserve 50% of my MFE of 7 points.
This brilliant move picked the exact hi of the pt 3 bar as my exit.
I re-entered short and grabbed a couple more points.
It has been tough for me to hold through large retraces.
While I am at it, here is a couple of video segments showing my live annotations of the ES and YM during the day.
I would appreciate any feedback and critiques as it is a chance to have my work reviewed by others doing the same.
I had to step away from the computer a couple of times and hence the reason for the video split.
9:30am - 11:00am (4 mins )
1:00pm - 3:15pm (6 mins )
Enjoy
I would appreciate any feedback and critiques as it is a chance to have my work reviewed by others doing the same.
I had to step away from the computer a couple of times and hence the reason for the video split.
9:30am - 11:00am (4 mins )
1:00pm - 3:15pm (6 mins )
Enjoy
Quote from R/R:
Here's my short trade entered on the 13:05 bar:
Entry MADA = FTT of teal long channel, break of prev. bar low on +PRV. Anticipated sequence is retrace to RTL, monitor price action at SMA and RTL for FBO.
Price then rocketed lower after RTL BO on reduced volume.
After the larger pt2 was established at 13:15 I held through the retrace anticipating pt3 as the sym pennant/lateral formed. I exited when I saw B2B (intrabar) on 13:35 to preserve 50% of my MFE of 7 points.
This brilliant move picked the exact hi of the pt 3 bar as my exit.
I re-entered short and grabbed a couple more points.
It has been tough for me to hold through large retraces.
Heh, if you look up a few posts you'll see my post where I did the exact same entry and exit as you, practically picking the exact high of that bar to the tick :eek:
Oh well, still a good trade.Quote from Pr0crast:
Heh, if you look up a few posts you'll see my post where I did the exact same entry and exit as you, practically picking the exact high of that bar to the tick :eek:
R/R, pr0
I was looking to short there since I missed the point 1. The B2B did not bother me, if you look carefully, the two black bars have about the equal amount of red and black volume.
I had noted the wall (my notes say 67.00 & look at the high of that bar) and was hoping to get another chance to nail it - wanted some more black vol) - however price just continued down.
Amazing how each person reads the same situation differently.
EDIT: I am referring to the point 3 at which R/R exited his short trade.
I primarily trade at the beginner level, point 3's when volume is active. This morning it seemed like I kept having to wash. I'd be up a point and end up washing. I did have one 2.5 point profit but just didn't seem like I was in sync. I know, post the chart, and I will soon. Having to stop after 90 minutes and go to work and trade there from another pc makes it a little more difficult.
Anyway, I've been in a chat room for the last 3 weeks with a couple friends that trade support and resisitance. I have been slowly sharing what I understand about price volume relationships. It is amazing how much I have taught myself and how much easier it is to spot things after this brief period of instructing.
This afternoon there were only a couple of us in there and while trying to make the point about what must come next, I found myself reversing several times. At the time they seemed like washes but all had from 1-2.5 pts profit.
I also miss the point 3 entry some times or exit too soon so have found setups to get me in on the right side of the market. When I opened the trade log to find some trades to post I was shocked that I had made 15 trades in 2 hours, way too many. But had netted 19 points with 1 contract, so I know I was seeing the market properly, just not exiting properly. After the morning session I was exiting after showing profit if volume did not reach continuation levels thus the many needless entries. I had nice runs in both directions, but most where short entries on pullbacks.
I recently started trading some ftt's. Now if a trend has a lower gaussian peak I will take the retrace trade.
There is no way I can even begin to express my gratitude to Spyder and all the main contributors here. It has taken an amazing amount of work but the payoff is not far away.
What a long strange trip it's been.
:eek:
Anyway, I've been in a chat room for the last 3 weeks with a couple friends that trade support and resisitance. I have been slowly sharing what I understand about price volume relationships. It is amazing how much I have taught myself and how much easier it is to spot things after this brief period of instructing.
This afternoon there were only a couple of us in there and while trying to make the point about what must come next, I found myself reversing several times. At the time they seemed like washes but all had from 1-2.5 pts profit.
I also miss the point 3 entry some times or exit too soon so have found setups to get me in on the right side of the market. When I opened the trade log to find some trades to post I was shocked that I had made 15 trades in 2 hours, way too many. But had netted 19 points with 1 contract, so I know I was seeing the market properly, just not exiting properly. After the morning session I was exiting after showing profit if volume did not reach continuation levels thus the many needless entries. I had nice runs in both directions, but most where short entries on pullbacks.
I recently started trading some ftt's. Now if a trend has a lower gaussian peak I will take the retrace trade.
There is no way I can even begin to express my gratitude to Spyder and all the main contributors here. It has taken an amazing amount of work but the payoff is not far away.
What a long strange trip it's been.
:eek:
And now you understand why The Final Exam follows the Medical School Paradigm of "See One. Do One. Teach One." Collaborative Debriefing assists the trader posting the chart by providing various points of view focused on a single area of concern. In addition, those providing the input receive the benefit of reinforcing that which they already know. Win-win - any way you slice it.
- Spydertrader
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