Spydertrader's Jack Hershey Futures Trading Journal

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Quote from bi9foot:

Here is my ES volume pace tool converted to Excel.
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I have been notified of a few issues affecting IB folks. You can ignore if you are not using IB.

I don't know why, but excel is thinking that the text of my instruction block in the spreadsheet has a DDE link and complains.

Here a two ways to get past it. If 1 does not work 2 should surely fix it

1) When you start the tool after making the required changes, if you get a error message save the document again and reopen.

If the steps above does not work:
2) Open the spreadsheet and remove all the instruction text in sheet 1. Save close and reopen the spreadsheet

The tool uses ticker ID of 0, if a ticker id of 0 is already used by another IB client there will be a conflict. Change the ID used in my tool to another ID. The ID is specified in the same cells (H3 and K3) that the account id was modified.

Also make sure you have enabled DDE clients in TWS. See http://www.interactivebrokers.com/php/webhelp/webhelp.htm#Interoperability/DDE_Configure_TWS.htm
 
Bi9foot,

Thanks for posting the excel tool. Just having the instructions is a big help. I hope to eventually modify it for Qcharts as it seems no one has done that yet.

Regards - EZ
 
Quote from Ezzy:

Bi9foot,

Thanks for posting the excel tool. Just having the instructions is a big help. I hope to eventually modify it for Qcharts as it seems no one has done that yet.

Regards - EZ
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I don't use QCharts, but looks like it supports DDE (QLink). All you need is the DDE string for the ES volume in Cell K3.

If anyone using QCharts would let me know what the DDE string is, I can update the insturctions.
 
Quote from koamana:

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.
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Like your spreadsheet. It keeps track of the flip flops in the B and R during the bar. BTW, check your PM.

Below is a link to Aurum's post with the PRV sheet and example of charting the PRV, the PRV drill. Use the sheet, start at the bottom and draw a line charting the volume increase during the bar. See the example there. It gives a visual feel for the volume acceleration and deceleration during the bar.

http://www.elitetrader.com/vb/showthread.php?s=&postid=1294283&highlight=PRV#post1294283

Regards - EZ
 
Quote from 8833broc:

I had a difficult time with the trend lines today. Alot of adjusting of what I thought was pt 1 or 3. Not sure if it was because I am using a new charting package for the first time or it was a result of just how today was.

Graph attached.
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For what it's worth Broc, I found today was tougher too; mainly because it seemed that there was little follow through on newly constructed channels. I stress, "it seemed", because I count up the number of constructions I have drawn in each day. I'm amazed at the day to day similarity in the total number and today was about normal for me.
 
Bi9foot,

Thanks for the worksheet. I used it with my platform which is Thinkorswim with no problems. I do have a question regarding volume. Given that volume will (on average) typically taper off dramatically during the noon hours, how does one take that into account? For example, if one observes what they think is a DU or VDU ~ 12:00 or 12:30, how should one adjust they're assessment of the situation, if at all? Or am I splitting hairs? I have attached an analysis I did on the NQ for 2006 (I would have done it for the ES, but I didn't have the data, but I suspect the pattern is the same). By looking at the chart, you will clearly see why I'm posing my question.

Finally, I have been studying the Jack Hershey method since October and have clearly "seen the light." I am astounded by Mr. Hershey's generosity and for Spyder's (as well as other posters on the forum) tireless efforts to educate. I look forward to more good stuff!
 

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Quote from WGTrader:

Bi9foot,

Given that volume will (on average) typically taper off dramatically during the noon hours, how does one take that into account? For example, if one observes what they think is a DU or VDU ~ 12:00 or 12:30, how should one adjust they're assessment of the situation, if at all? Or am I splitting hairs?
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Personally I would keep it simple and not worry about the lunch time.

MAK had posted a study of the ES point range at given volume levels and noted the riskiest entries are during the low volume periods. The graphic has been referred to several times (I think in this futures journal as well).

EDIT here it is http://www.elitetrader.com/vb/attachment.php?s=&postid=1321447

In fact, if I remember correctly, MAK does not do anything until the volume for a 5 min bar has exceeded 2500 contracts.
 
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