Spydertrader's Jack Hershey Futures Trading Journal

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Quote from callmate:

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Aurum

I understand what you are saying. The first page without the discussion that followed didn't mean much.
I have seen comments sheet like these all over ET. Having made a conscious decision to learn the Hershey way the penny is beginning to drop. You will just have to show tolerance towards the "slow learners."
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LOL - touche'

It wasn't intended as a ding against you or anyone else - it was a way to say to everyone - "Hey, there is some good information at the beginning of the journal - be sure to review it at times" and to bring a "perfect" picture to the discussion.

My apologies for any offense!
 
Guys, please explain one thing. This Q is adressed first of all to MAK and Spyder.

I trade index futures and use ProfLogic's method which is well known by you. ProfLogic's stuff is very similar to what you do but a lot slower and requires less activity. But there is one big difference. In ProfLogic's terminology PPF correspond FTT. But PPF is objective and I can say "irreversible". I mean that if we get PPF it is PPF no questions. Another thing is FTT. We can confuse FTT and flaw (hitch, dip, stall, HVS). So my Q is: what is ultimate and objective confirmation of FTT? I know that from point of view of practical trading it is incorrect to wait for FTT's confirmation but I speak now not about timely actions but about complete understanding what is FTT and what is not.

PS Please sorry for not well English, I tried...
 
Quote from rustrader:

Guys, please explain one thing. This Q is adressed first of all to MAK and Spyder.

I trade index futures and use ProfLogic's method which is well known by you. ProfLogic's stuff is very similar to what you do but a lot slower and requires less activity. But there is one big difference. In ProfLogic's terminology PPF correspond FTT. But PPF is objective and I can say "irreversible". I mean that if we get PPF it is PPF no questions. Another thing is FTT. We can confuse FTT and flaw (hitch, dip, stall, HVS). So my Q is: what is ultimate and objective confirmation of FTT? I know that from point of view of practical trading it is incorrect to wait for FTT's confirmation but I speak now not about timely actions but about complete understanding what is FTT and what is not.

PS Please sorry for not well English, I tried...
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Using short term channels and keeping it strictly PV.
At the end of a short short term channel it is a B\/B
At the end of a long short term channel it is a R\/R

If I have increasing volume that is going against the previous dominant, (ie. the increasing side of a R/\B or B/\R) then the extreme of the previous PV Gaussian cycle was my FTT. For spyder and I, we view it from the perspective of if the surge does not reach my LTL, it FAILED TO TRAVERSE its way to my LTL... It is quicker to see something not reach a point then to check the subsequent bars to say "so, now I'm sure it didn't reach my LTL". In one case you are watching it's path, in my case I'm watching it's progression and noticing when it the progression stops. I watch the progression by looking at the close part that sticks out from the bar as it does it's brush strokes up and down. The rate of the brush strokes corrspond to the volume which correspond to the T&S. We are nowhere near this point yet.

For you, this is similar to the PF. You see a PF but you have to wait until the next bar to say it's a PF. From there you are still looking for your PPF oscillation to confirm and then a major of a sub volume fractal to confirm a prime on a higher volume fractal. If you try to map these two methodologies together you are going to have a tough time integrating the two. Yes, I know what prof does is 100% objective and if you want full objectivity, you should stick to his framework. We have gone through several scenarios where different annotations still get you to a point where you wind up on the same side... If it's more trades you are looking to do, it is defeating the point of the exercise. Just simply go to a dom chart and PF trade. You won't even need the ergodic indicators...


Regards,
MAK
 
Leaving early today- off to do some skiing in Breckenridge for the long weekend. Be back trading next Wed.

Here's today so far. For the people with Q's about R2R etc, there were a few clear examples today that I marked on the chart. I wish everyday was as easy for me to read as today.
 

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Quote from makosgu:

[If I have increasing volume that is going against the previous dominant, (ie. the increasing side of a R\/B or B\/R) then the extreme of the previous PV Gaussian cycle was my FTT.
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Does this explain why bar 57 today could be considered an FTT and point 1 for a new channel even though it was not an FTT?



side note:
I also found it very interesting how the longer term orange channel at the top of my chart stopped the morning advance.
 
Curious questions from an outsider looking in:

1) How many transactions on average do you guys do a session?

2) All the lines you guys project are just mental and the process internalized in real-time, correct?

Thanks.
 
Quote from illiquid:

Curious questions from an outsider looking in:

1) How many transactions on average do you guys do a session?
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right now? none, it is drawing excercise, check back in 9 months

2) All the lines you guys project are just mental and the process internalized in real-time, correct?

Thanks.
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you make it sound like Penn and Teller show but the excercise is simply about drawing channels that match the instructor's drawing.
 
Quote from illiquid:

1) How many transactions on average do you guys do a session?
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At the beginner level (where we are currently) that depends on the number of Point Three Trends and FTT's (Failure to Traverse) in any given day. Most days between 4 and 10 FTT's appear.

Quote from illiquid:

2) All the lines you guys project are just mental and the process internalized in real-time, correct?
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By sliding a chart to the left, one gains 'white space' to the right. We project all trendlines into this space. Following Price and Volume (Gaussians) allows a trader to anticipate the turns at these projected trendlines, and as a result, act accordingly.

- Spydertrader
 
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