Spydertrader's Jack Hershey Futures Trading Journal

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Quote from jack hershey:


If you are logging can you scan and post the scan except the part that says you have 50 contracts riding.
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The 3 trades that I referred to are as follows:

14:20 Short 1422.25
14:23 reversed to Long at 1422.75 -0.5
14:29 exit at 1422.50 -0.25

14:30 short 1422.25
14:40 exit at 1422.25 wash

14:56 long 1421
14:57 reversed 1420.25 -0.75
15:01 exit 1421.50 -1.25

scan of log attached
 

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See DKM 1 chart on 2 mi YM.

I am using YM here because you can do both YM and ES.

Th YM will be anotated BEFORE the ES and all questionable stuff that you have will be taken care of.

So the first concern I have about you is taken care of.
The concern is that you are going to be taking care of the market "attitude" and be aware of it.

A day is divided into four attitudes or parts. W and M often describe this attitude. Midday divieds tha am and pm.

Settlement is 1:15pm and the day, psychologically speaking, restarts the day.
 

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Quote from makosgu:

... 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...
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I am looking forward to the bar by bar volume analytics. Exactly what I need to get some context to the volume concepts that have been presented!

Looking forward to today's chart as well.

edit: Today's channels were much more straight forward than Fridays in my mind. My chart actually looked very much like Spyder's. :D
I think it would make a great candidate for bar by bar volume analysis for us beginners. I hope you'll consider it.
 
DKM 3 annotaes the DKM 2 notes.

Here I am showing the green forst channel.

Also see the missing FTT hat started the second channel when medium volume wentinto effect AFTER the end of the blast of the extraordinary volume.

This month we are getting P and V straight and the annotation that is associated.

The dkm noted FTT? that is th first of the day is now taken care of by attitude and volume range considerations.

We see after the FTT of the green channel the BO and FBO associated with the green channel

We got some channel 1, 2, 3 points from this all on the medium volume and its corresponding money velocity.

The landscape is becoming dotted with Ftt's at this point as done by dkm.

Take each one in turn going from left to right. One is an FBO thenex is an FTT for a newly drawn in channel, the third of the day drawn in pink (heliotrope).

At this point we go to the third volume range of the day Low and DU of midday. I noted the volume levels on the volume chart.


What do we expect (meaning our subconscious coaches us to feel the situation).

We expect slow price pace and the old faithful CCC.

It is not a FTT graveyard.

So the tan channel is there following the pink channel. One blast gives you a wide channel and you reversed off the volatility (unusual single bar).

DK has begun to annotate again . I would say that this is a shaky and unerving time because of the recent just observing and not annotating hour or so. I regard this as a very normal situation. and I m commenting to remove it from future day's of annotating.

So you can see that the channels and this annotation of DKM's come to a place where the traverse comes to the previously drawn RTL. This known as God's will and it is always there as we see over and over. It is a reinforcing moment at midday on low volume and it is a quiet time.
 

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Thank you very much Jack.

I am reviewing my beliefs about this stuff each day; and each day it's clear that my old mantra about nothing working is beginning to disolve.
 
Quote from jack hershey:
...
Here I am showing the green forst channel.
...
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Jack (or others),

Thanks for the debriefing. If you don't mind I have some related questions for you:

As you can see from my snippet (YM 2 min), I didn't extend the RTL of the first "wide" channel (your green debrief channel) down far enough. I added it in hindsight (pink) after reviewing your posts. Although, I did expand the left side in real-time (made it "thick" here to pop). Oh well, I got half of it right, the LEFT side. :)

Notice that I created a faster-paced short red channel in real-time from the FTT of the long traverse (same point where my pink hindsight begins). This red channel told me about the next 2 FTT's, one of which was the low of the day. I've gotten into a habit of drawing these faster-paced channels, for better or worse. I remember reading about them in your channels doc. Are they reasonable to draw on a somewhat regular/mechanical basis? I hope they are ok as I've been pretty successful drawing channels mechanically (except where I forget to extend them as above :)).

Regarding your comment to dkm on "crossing out his B2B ...". Using the red channel, I'm seeing a B2B that BO's the red RTL. So, the B2B wasn't correct for your "green" debrief channel on dkm's chart but it seems reasonable for this channel. Am I way off base here?

It seems that the gaussians for this part of the day synchs up nicely to the red channel. This is another reason I like to draw the faster-paced channels. I've had aha's before whenever a series of gaussians match the volatility of a channel.

[edit: please ignore vol for the 1st 10 bars or so. my feed was unstable]

Any comments would be appreciated...

Thanks,

spooz

<IMG SRC=http://www.elitetrader.com/vb/attachment.php?s=&postid=1319190>
 

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All this talk of YM this evening got me looking for the values for my YM rays for the 2 min Chart. I searched my 150 megs of archives, and did about 6 searches on ET. So far this is what I found for YM, it is not complete, and I am not sure the volume values are right. I saw it once penciled on a pace chart, but poof...

I couldn't find an exact quote from Jack or Spyder setting YM2min Rays. Here is what I found from a document on pace, quoting Jack. He said they are "centerline" numbers, not range boundaries like he gave us for ES. ...hoping for a clarification/confirmation or translation into range boundaries.

YM 2 min Chart
Volume............Meaning
?.......................VDU
80.....................DU
300...................Low
600...................Medium
1250..................High
?.......................Extreme
 
Quote from dkm:

The 3 trades that I referred to are as follows:

14:20 Short 1422.25
14:23 reversed to Long at 1422.75 -0.5
14:29 exit at 1422.50 -0.25

14:30 short 1422.25
14:40 exit at 1422.25 wash

14:56 long 1421
14:57 reversed 1420.25 -0.75
15:01 exit 1421.50 -1.25

scan of log attached
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Thanks for the log.

I owe some blank logs to some people.

I will get them out and make some comments here.

I will also make up a document which has parts of the E and E book in it to move us to a good place.

Here are some thoughts to have in mind in the meantime.

It is a good idea to follow a regime on this that fits into our routine.

Logs will go from left to right and display the routine portion by portiongoing across the log. I make a point to comment on this elsewhere and if anyone is good at linkmanship post the link.

Side note. you can use the bundle posts to get rest of day seen until I redo some more of DKM YM.

Left half of sheet is data set stuff

Right 1/4 can be the logging of trade results (bar and points and time)

The important part in the middle 1/4 is the columns for ANALYSIS and DECISION and ACTION. Decision and action are single letters so they are narrow.

ANALYSIS is the stated conclusion from the data set.

think of four landscape sheets being filled in per day with behavioral actions A list of R R R R R R R R R .... R R R R .

I am asking everyone to do this:

Get four blank pieces of paper and turn them to landscape position.

On the sheets go through and M or W day by writing on the sheets down the middle (the analysis column) the conclusions that go in that column.

We know we have some FTT's and some BO's and Some FBO's.

we know we have some DOMS and some non dom's. There is the CCC going from one bar time (25) to another (40)

We know we can say analysis results for events.

What I am saying to you is that you can fill in the log for the day ahead of time for all practical purposes.

I number the leftmost column with bar's numbers. Over on the right the bar number appears for the actin where there is an R in the D and the A columns. D is decision and A is ACTION.

Try to see for a moment that going down the analysis column there are four pages of occasional entries associated with R's.

Say if I put and FTT there, then do not I place a few lines down a BO?. There is an H in the D and the A when there is a BO in the analysis column.

Just lookat the four sheets and see that the ANALYSIS column is wher you put conclusions that come from your mind.

Try this entry: "getting close to RTL"

Try all those neat ones called: stall, dip, HVS

Try the ones called: FTP, SYM, and FBP. and the old fav "Geting close to the point"

Here are some good ones: long on increasing v; long on decreasing v; etc....

Can you fill in the lines after "long on decreasing v" ? Probably.

You can do a log for Saturday and Sunday and then fill in the channels and volume on a blank chart to see what the chart looks like.

Charts have no columns for evaluating trading. We just over write the log in a different color to hilite debriefing improvments.

If you can fill in analysis conclusions (at R places) for four sheets. by going through a day, Then you can fill in all the lines in between where you are holding. A lot of the above analysis "words" lead to holds as you know.

if you can rattle off a lot of conclusions, then you can make up a bunch of columns that are related to each element of the data set you are using. I have 6 columns for YM and 6 for ES and one in between for "str" and "SQU" there is a column for form and one for dir. All on the left half.

I operate on "sufficiency"; I am not getting an award for completeness.

If you want to learn the sequences of the market, then keep a log and your mind will fill with conclusions that are always available.

The notations of data sets is monitorig.

The annotation of price and volume on charts is the future moving into the present so the monitoring is purposeful for the log.

Now you fill in the ANALYSIS conclusion.

We only have five decisions for ALL of the finite number of conclusions. Up to now we ae in the world of beliefs. We use tese to ACT, to behave.

8 actions above in dkm post. 40 minutes of whch 16 were spent to sideline during a net change of 1.25 points. 11 minutes were spent dealing with one tick. Overlapping this 11 minutes were 20 minutes spent in no net price change. 5 minutes were spent losing 2 points.

Two styles of trading employed, most are entry exit kind and one reversal.

Two paragraphs of debriefing. And I appreciate the opportunity to review this because you were able to post it. It is very helpful to a lot of people.

So here we go.

I will say that you need to do the two levels of channels. The"green" level and the traverses. Your annotation of traverses is just below excellent, so that part is in the bag. The boundaries of these traverses require that you, several times a day, get them in place. Two traverses makeup a channel that bounds the traverse level.

So we are looking at a 40 minute period and it has no container today but it will rom now on. QED.


Now we look at a day. The M and W type and the midday. we have CCC in the middle.

so alwqys put a CCC in as the midday lowvolume period. It is not a money making time and therefore it is "riskY" because of its ending.

Always put in CCC as a "Green" annotation.

Now we are ready to resume those money making traverses. For example, there was a three pointer just after the last posted trade.

here is what you do. Look at the bundle post responses.

This is the issue of the third C of the CCC. We know its centering and we know this is an internal formation within the CCC boundary.

The end of centering is two bars one of which is a BO.

Draw CCC as boundary heavy weight; sketch in the centering light weight like a traverse type annotation.

Go to two adjacent bars on BO of pm trading and annotate.

You would have seen pt 1, 2, and 3. Pt one is the BO; pt 2 is the FBO and you are on a non dom looking forpt 3 where you will reverse into a dominant traverse and be looking for an .....FTT!!

In terms of your YM (and the bundle stuff on ES) you see the FTP at "settlement" and the pm begins.

Nice traverse and you are trading at 14:20 having come all the way up this traverse of a period of time that sets the pm part of the W or M. You take the non dom by going short @ 14:20 because you have pt 2 of the first pm channel and you are goiing to ride it to the pt3. This am the first green channel (you didn't put it in) lasted for 5 traverses al according to God's will.

So you used two bars to get the P BO started. Note on bundle they were kinda on the mark even though he was doing some slicing and dicing at the BO.

You typed in a b2b and it was the same as the b2b I crossed out in the mornming during a period of constant low volume.

Those single mini volume bars are where you put 2's. If you DO.

You are in a non dom and you are riding from point 2 (Heavy) to point 3.... is there a b2b here as a possibility form your logging 4 sheets a day and knowing sequences???? No there isn't.

You are finishing an R of a B R channel on the pm BO dom traverse. The B was an almost 1 hour hold on the way to pt 2 during a dom traverse.

ou go sort at 14:20 as the nondom commences and have no heavy channel annotated as yet because you are lookig for pt 3 and you go short to get there.

At pt 3 YOU KNOW YOU ARE GOING TO START A B OF B R.

This is P and V trading and the day is going long holds routine after routines 4 step entries on the log that result is H H H H H on the D and A columns where the analysis keeps saying the traverse is working.

for ome reason at pt 2 not annotated you started looking at the tips of your skiis duirng to non dom traverse to pt 3.

Put pt 3 on the log a few lines lower and log your way to it from now on.

At pt 3 you see the volume begin the B R Gaussian and you run up several points (to 24 or so) over several bars.

So what is the summary on this:

1. Keep up the good annotations of traverses on Y and ES.

2. lable the pts on the heavy channels that contain the traverses.

3. Annotate the hweavy channels with extended RTL's and LTL'sto get the "attitude" showing.

4. Make up a new log. Put in clumns for price and volume o the YM and on the ES we can add formation s and STR/SQU too.

5. Fill in the log ahead with what you are looking for in the sequence. Fill it is in the analysis column.

When I am narrating ahead of the market, I am just looking at what I wrote down that is cming up next.

The deal is this; I call ahead to make the narration go smoothly.

As you know the last four digits of my cell phone are 7 6 5 4. What else would be on my phone as a number.

So tomorrow is going to look different on your charts and on your logs. NO more FOG.
 
While I appreciate the input provided by so many contributors, I politely refer everyone to the Thread Syllabus. We have scheduled discussions on the YM for the beginning of February. I recommend taking the time to work on ES Price and Volume (gaussians), rather than, jumping ahead. Discussions which occur out of order have, in the past, created a confusing environment. In addition, such an environment only increases the temptation to move ahead prior to successfully building a strong foundation. Unless (and until) a trader has the ES Price channels and Volume gaussians down cold, they should not move ahead.

Again, I understand the level of frustration experienced by many by using only a limited tool set. However, adding additional tools prior to the correct time for doing so serves only to delay that frustration to a future time. It does not eliminate it.

Good Trading to you all.

- Spydertrader
 
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