Enjoy the extended weekend everyone.
- Spydertrader
- Spydertrader
Spydertrader's Jack Hershey Futures Trading Journal
- Thread starter Spydertrader
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Hindsight Analysis
I appreciate Spyder has asked that we do not push buttons yet and simply observe. Please indulge me as I break his rules while it is still fresh in my mind. (I simply do not have the concentration necessary to follow the bars unless I have something on the line - even if it is only paper at present.)
My debrief from the simulated trading has uncovered the following repeated errors which sabotage my otherwise good entries:
1. not allowing for a NP3 to form
2. exiting rather than reversing
3. chasing and entering late because of 2
4. incorrectly drawn or updated trend lines causing misidentification of BO and hence surprise at FBO (see my pink WTF! channel which noone else had)
5. Mistaking a retrace for a reversal despite pro-rata volume making it clear which it is in real time
Once I strip out the trades that can be fixed by addressing 1-5 above, I'm left with the following actual entries, reversals and exits:
09:31:24 enter L 1431.50
10:05:27 Rev S 1434.50 +3.0
10:53:13 Rev L 1431.50 +3.0
12:53:20 Ex S 1438.00 +6.5
Total: +12.5
Range over period: 9.5
% of Range: 132
Lots for me to work on!
EDIT: in the chat room these trades correspond to my comments "R2R?", "what colour for the next channel", "looks like an iceberg".
could you please explain what these two charts should actually express?
higher volume in trend phase - low volume in consolidation phase. enter at breakout - get out when move is over. but you could do the exact same thing without volume. volume is no leading indicator - it goes hand in hand with price.
You are free to think whatever you like but if you were watching prv on the retrace you just might get a heads up on the entry but please suit yourself and ignore volume. If what your doing works for you more power to you. Happy trading. I dont think youre going to dissuade anyone here from watching volume.
p.s. Even in Marks (Nihaba Ashi) comments which you praised so highly he said that watching price only came after years of watching price AND volume.
p.s. Even in Marks (Nihaba Ashi) comments which you praised so highly he said that watching price only came after years of watching price AND volume.
ok - so explain to me how volume tells you NOW (or in the moment you think about an entry) what is going to happen in the next n minutes? your "prv" does not tell you where the market will go or how far it will actually go. and during consolidation it won't tell you what happens next. you know/see what happens now (or happened up to the present moment) - not more - never.
marks post - i actually never really used or needed volume. price (bars) alone is really enough. what i posted was more a general statement - not particularly about volume. sooner or later the entire process of watching/analyzing becomes an intuitive/implicit thing where anything beyond price means distraction.
Gerry, I have been trading with Volume as an indicator (way before I picked up Jacks method).
Just because you don't understand something does not make it any less real.
I assure you that some of the greatest hedge fund managers in this business all use Volume analysis as part of thier tool set.
Sorry my friend but your missing the boat.
Quote from Joab:
Gerry, I have been trading with Volume as an indicator (way before I picked up Jacks method).
Just because you don't understand something does not make it any less real.
I assure you that some of the greatest hedge fund managers in this business all use Volume analysis as part of thier tool set.
Sorry my friend but your missing the boat.
great. but you did not answer my questions. there is a very hostile environment in this thread. i wonder why. it would be absolutely enough if one would just give a useful and detailled answer to a good question.
I did not attempt to explain because I am just a student here and not qualified to do so. Perhaps one of the others can do so but I would imagine that if you have not got it by now you are not going to get it. Since you say you dont need it that should not be a problem. Good trading to you.
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