Spydertrader's Jack Hershey Futures Trading Journal
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Here's a revised copy of the log to keep more in tune with the program. I left the YM section in there for next month, gave more room for notes and analysis, and eliminated the P/L section as Spydertrader doesn't want us focusing on the P/L.
I left in the "Timely Action" section in because I think that is needed to help debrief later on (ex: to note when on the bar you noticed the FTT). For now the "Decision" section should be fine for this level.
Regards - EZ
I left in the "Timely Action" section in because I think that is needed to help debrief later on (ex: to note when on the bar you noticed the FTT). For now the "Decision" section should be fine for this level.
Regards - EZ
Hi Ezzy - thanks for providing the "tuned" form. Could I now talk you into filling in a row for a hypothetical bar, so as to get a better idea of what goes where. I'm unsure of the proper inclusions (or notations) under some of the various headings. It might help others as well if everyone is using a similar style of log format, as far as future discussions are concerned. Thanks again for your efforts - regards ...
Was my favorite class in HS, and served me well in carpentry later on
I, too, am relishing in this new feeling of being "connected" to the mkt. Please don't let me set any bad examples here, as I know our teachers have repeatedly advised against interrupting our focus on PV w/ sim or live trading. But I have taken some latitudes with this idea, as I've been live daytrading (scalping) religiously for the past 3 yrs or more (euro), with many more years of studies and struggles prior to that. Anyways, I do sim trade daily, using my newly acquired PV knowledge, and am happy to say I have reached my daily goal of 200/day w/ one contract each day in 2007, so I am definitely seeing results already.
I have attached today's record for no other reason than to show others there is a reason to perservere. Don't laugh, with my current skill level, I utilize a 1:1 RR and I do a lot of clicking - heheh. This is purely scalping, but done with PV creating the bias. I'm very anxious to learn more about DOM, T&S, pairs, etc.I am thankful that Spyder is presenting this material in his chosen format, as I have no intentions of engaging in live trading until after "graduation", and feel confident the coming months of preparedness will be well worth the efforts.
If this post is sending the wrong message, please say so and I will delete. What I'm trying to project is simply this: if I can do it, ANYBODY can.
mephistoII
I've been guilty of posting my breathless debriefs of sim trading on this thread. I apologise to all for that. On reflection I realised that I was not doing what was asked in this thread and went back to the syllabus. We are only looking at PV this month.* That is enough to be getting on with - there are so many nuances to understand. But if you don't have PV down cold by the end of this month you may struggle.
I think you are missing the bigger picture here and should get out of your scalping mindset ASAP. All you are doing is adding to the flaws in the trends (where do hitches come from?), albeit with 1 lot.
IMHO, your personal goal is an unnecessary limitation - let the market tell you what is available, that's not your job.
I'm not trying to be mean.
*January 1 - ES Chart: Price, Volume, Channels and the FTT
For those interested I thought I would post a different type of log, one that I have been working on and using for the last few days. While I have used different log sheets for trading the ES over the last year, this idea came to me recently. It is only intended for the type of "trading" (monitoring) as the case may be that we are currently doing with the progression of the journal.
The primary purpose is for logging PRV. As one can see, it includes space for intra-bar volume at specific times: 30 sec, 1 min, 2.5 min, and End of Bar. This makes the math for PRV easy. After doing the math at each interval, I circle R or B as the case may be (or just draw a horizontal line if neither prevails). Also, there is a place for intra-bar assessment as well as a place to note Decision and Action based upon what you see unfolding. Following MADA.
Obviously, the Decision and Action can come at any place within the bar, I just put it at one end of the log for consistency.
While filling in all, or most all, of the Vol and PRV columns as well as many of the Assessment, Decision and Action spaces together with annotating your chart is a fair amount of work, I can attest to three things if you do it:
1) It will keep your "Head in the Game"
2) You will begin to see times where, as volume changes intra-bar, you begin to more accurately predict what is coming next and
3) the trading day will pass rather quickly
Anyway, I hope some find this useful
The primary purpose is for logging PRV. As one can see, it includes space for intra-bar volume at specific times: 30 sec, 1 min, 2.5 min, and End of Bar. This makes the math for PRV easy. After doing the math at each interval, I circle R or B as the case may be (or just draw a horizontal line if neither prevails). Also, there is a place for intra-bar assessment as well as a place to note Decision and Action based upon what you see unfolding. Following MADA.
Obviously, the Decision and Action can come at any place within the bar, I just put it at one end of the log for consistency.
While filling in all, or most all, of the Vol and PRV columns as well as many of the Assessment, Decision and Action spaces together with annotating your chart is a fair amount of work, I can attest to three things if you do it:
1) It will keep your "Head in the Game"
2) You will begin to see times where, as volume changes intra-bar, you begin to more accurately predict what is coming next and
3) the trading day will pass rather quickly
Anyway, I hope some find this useful
the meetup videos now include up to Nov 06 meeting, click ok when password window pop up, you need java to access the site. http://www.traderuniverse.info/
Quote from PointOne:
mephistoII
I think you are missing the bigger picture here and should get out of your scalping mindset ASAP. All you are doing is adding to the flaws in the trends (where do hitches come from?), albeit with 1 lot.
IMHO, your personal goal is an unnecessary limitation - let the market tell you what is available, that's not your job.
I'm not trying to be mean.
*January 1 - ES Chart: Price, Volume, Channels and the FTT
Hi PointOne - thank you, sir , for your reply - it was appreciated and well-received. I realized before posting that the screen was inappropriate for the discussions at hand. Unfortunately, I often allow my enthusiasm to get in the way of good judgement, and my only defense is that it was a knee-jerk reaction to Bearbelly's comments. I sense he is experiencing some aha moments along the way, as am I. My true intent was simply to express that after only 4-5 weeks of following the Hershey/Spyder journals, that I am beginning to sense feelings of "knowing' which side of the mkt I need to be on, and just threw some numbers up there in an attempt to illustrate. I surely didn't mean to suggest that "scalping" is the goal to which I strive, as I feel an effective SCT trader will be presented with far greater opportunities. And, as you so aptly implied, the mkt, along with these methods, will guide us to the appropriate actions.
I also want to comment briefly on your mentioning the "scalper's mindset". It was indeed something I needed to hear from 'beyond', as I intuitively felt it to be akin to playing with fire.In other words, this would be the absolute worst time to develop bad habits, since the object of all this is to emerge with a solid trading approach and the confidence to implement same. At least I can be aware of my limitations, unlike the American Idol contestants whch I watched this evening - hahaha.
I'm just looking forward to what lays ahead, as I'm sure you, as well as many others, are also. Best to ya - enjoy the journey ...
Edit: Thanks to Ezzy and koamana for the log sheets - that is indeed where I really need to direct my attentions. I know such activities are extremely important, when considering mental imprints, and bridging gaps between the subconscious and conscious mind.
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