Spydertrader's Jack Hershey Futures Trading Journal

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Quote from dkm:

Spydertrader, how did you identify the low of the 15:00 bar on Friday as a new pt 1 (for green channel)?

Thanks
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Your chart was a great chart to annotate for the purposes of thoroughly discussing PV. I took some time to fill in ALL channel formations (ie. Longs/Shorts/Laterals/Pennants) and label pts 1, 2, 3. I thought this was some random day so I filled it in as I thought the day would unfold. When it was completed, I noticed the date was last friday. DOH! It looks the same as the friday chart I actually had done with the exception of one region... I annotated the points to show exactly what I mean by keeping tight PV. Later on, I am gonna try and break it down channel by channel and annotate each bar and the volume analytics that went into it... I did some stretching and squeezing of the original chart to get visually calibrated to what I'm used to. I'll put up todays after the walk through of fridays and then run the same strict PV annotations... Then I can start blabbing about what I really see at this resolution (ie. dynamic stops and all and profit buffering).

Do you see what I see???
A Long
A Short
A Flat Bottom Pennant...
la la, la la...

<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1318978>

Regards
MAK
 

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Quote from bundlemaker:

I had composed a rather lengthy post about today's journey, but came across this and thought it more useful to post...

"if a man ... be content to begin with doubts, he shall end in certainties" -Francis Bacon

I leave you with my chart for those who are comparing notes.
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See attached.

Annother will follow.
 

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Quote from jack hershey:

Here is the second response.
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Those two bars set you up for 12 more bars.

The fact is that you used two adjacent bars to draw a traverse.

I mentally note that I used LTL instead of RTL before in my annotations. OOPs.

my bad.

The two bars gave you a RTL for the traverse and then you got to do the channel (put in LTL and that makes you ready to see FTT's on the traverse. This is a pt 2 of the next heavier channel. and the nondominant traverse will lead you to point 3 on this heavier channel. Then you can draw n the heavier channel; see traverses, failure and so on.

So you did that it turns out At 15:30 plus on this blue channel no less than 2 bars come to rest on that annotated blue channel as a non domtraverse ends.

DKM is drawing and getting losses; points of losses. I will work on that next.
 
Quote from dkm:

5min ES

On 3 occasions this afternoon I identified an FTT then had second thoughts about the validity of the decision. I reversed on 2 of them and on both occasions ended up with two small losses. Net result -1.25 for the day. The subjectivity of FTT identification prior to seeing B2B or R2R confirmation continues to be a problem.
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I see your chart looks like the bundle chart.

Did you go long around 1300 plus hours at the end of the DU and the FTP where the BO was and make a lot of points for nearly an hour?

Please read my comments to bundle either way.

We can work you through everything.

1. Look at the forming bar. And have the context of the bar down in spades.

So tell me each bar you acted on and what was the action.

Occasion 1 #

Ocasion 2 #

and

Occasion 3 #

If you are logging can you scan and post the scan except the part that says you have 50 contracts riding.
 
Quote from C99:

Bar 43 I have new 3? labelled. You can see I drew a new channel w/ that as the point 3 and left the original as well. Later in the day, the boundries of the original were more respected. Is this proper protocol?
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Once you have identified 1,2, and 3 the RTL is set in STONE (meaning no adjustments) the adusted pt three is used when you are forming a completely new channel and all you have to work with is 2 bars of data at a pt 1. You draw in the light lines ..... but you KNOW that this is only a traverse ..... so where is it going? it is going to show us our pt 2 then we draw in another traverse channel going to WHERE..... you got it a PT3 Once this data has come into view, you now have your operating channel that will be respected as you say. Until the Next FTT only the LTL can be moved away for volatility expansions.

As to your WTF's ..... look at the time and volume where those occured.... they are HVS or High Volatility Stalls during the CCC period of the day... the process of getting through it will be covered later in the Journal .... for now notice that the volume is insufficient to carry any trends for any length of time.... trades during this time would be 3/4 pointers or so ...

HTH

EX
 
Quote from dkm:

2min ym
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I am going to mark this up a little.

My emphasis will be on the medium weight channels. It is the "attitude" of the market that is being carried along during the day. Tha is what you will see.

Then what you will see is how the YM is "telegraphing" to you the upcoming stuff on ES.
 
Quote from jack hershey:

Those two bars set you up for 12 more bars.

The two bars gave you a RTL for the traverse and then you got to do the channel (put in LTL and that makes you ready to see FTT's on the traverse. This is a pt 2 of the next heavier channel. and the nondominant traverse will lead you to point 3 on this heavier channel. Then you can draw n the heavier channel; see traverses, failure and so on.
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You beat me to it :)
 
Quote from jack hershey:

I am going to mark this up a little.

My emphasis will be on the medium weight channels. It is the "attitude" of the market that is being carried along during the day. Tha is what you will see.

Then what you will see is how the YM is "telegraphing" to you the upcoming stuff on ES.
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This is the begnning of the day

The volume is "blasting" on the dominant traverses

Five trades 3 short and 2 long.

You bank the blasts in the am.

I extended he green channel.

The end of trade 5 is RIGHT ON THE GREEN LINE OF VOLATILITY EXPANSION.

There are no ftt's up to this point and the extremes of price movement are de rigour.

You are banking points on "extraordinary" volume. Just a couple of "breather bars".

So not you are on TWO levels of channels: grey and double weight. An the lines are extended for the purpose of seeing the ATTITUE of the market.

I will take up the next part of the day in another attachment.

This is how to start the day, any daythat is beginning with high volume. High means "Blast" on extraordinary volume.

There were volume corrolations to the traverses of the green channel: increasing volume on the dom traverse; decreasing volume on the non dom.

In a few months we will milk the traverses, but not now.

Next post has chart.
 
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