Spydertrader's Jack Hershey Futures Trading Journal

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Quote from Spydertrader:
Less a duel than a laughfest, but yes, I attended.
What I am saying to you is The YM leads the ES when it matters - at sentiment change. Since our methodology involves recognizing the market as it transitions from continuation to change status, The YM provides an early warning for the ES.
- Spydertrader
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Spydertrader,

Welcome back. This is really a key point because, as you mentioned before, sometimes they diverge. At the transitions is where it matters most. Too much focus on it at other times will cause you to be looking for change when you shouldn't, losing focus on the big picture.

Regards - EZ
 
To ERIC:

Thanks for your time & efforts to edit the Vol 1 of Futures Trading Journal and made it available for us to download.



To Spyder:

2min YM leads ES 5min movement is logical. What about the 2min ES, Is it also predictable for ES 5min trending.
Thanks
 

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Quote from bucherwin:

2min YM leads ES 5min movement is logical. What about the 2min ES, Is it also predictable for ES 5min trending.
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The idea behind the YM leading the ES has less to do with timeframes, and more to do with 'smart money' involvement in the marketplace. Equating the ES two minute to the YM two minute isn't quite like comparing apples and oranges. It's more like comparing Red Delicious and Golden Delicious Apples. While both make for a great snack, you'd only want to 'bake' with one. Using the other makes for a really crappy pie.

In short, if I am going to go through the trouble to bake a pie, I'd like to make sure it doesn't end up tasting like crap. As such, using the 2 minute YM as a leading indicator of ES Price insures one uses the best 'ingredients' available.

Good Trading to you.

- Spydertrader
 
spyder:

Pls advise me at your spare time about today's charts, when, exactly, do you see the YM2min leads ES 5min.

I compare YM2min to ES2min and ES5min charts, and have trouble to pinpoint the time that 2min of YM leads.

I only see the channels of ES5min are little sluggish behind YM2min and not much different from ES2min.

Thanks.
 

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Quote from bucherwin:

Pls advise me at your spare time about today's charts, when, exactly, do you see the YM2min leads ES 5min.
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Nkhoi posted one, and Spooz_Trader posted two such instances.

Quote from bucherwin:

I compare YM2min to ES2min and ES5min charts, and have trouble to pinpoint the time that 2min of YM leads.
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Look closer.

Quote from bucherwin:

I only see the channels of ES5min are little sluggish behind YM2min and not much different from ES2min.
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I do not recall saying YM Channels lead ES Channels.

Unless the CBOT goes down (meaning I do not have access to the YM Quotes) I do not use 2 minute ES charts as a tool (nor 1 minute, 10 minute, 15 minute, 30 minute or 60 minute ES charts either).

- Spydertrader
 
Quote from bucherwin:

spyder:

Pls advise me at your spare time about today's charts, when, exactly, do you see the YM2min leads ES 5min.

...Thanks.
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The first time I went sailing at night, I was taken aback by the umpteenth lights shining from the city. It was a beautiful sight, but I could not pick out the one large and obvious flashing red light from the lighthouse, beaconing me to the entrance of the harbor.

This is something we have to "experience" to see.
That's why we are taking our time to learn.

I am revisiting the charts; taking time to draw the lines again. And to compare the charts to Mak/ST's, to make sure the lines start and end at the appropriate places.

Rome wasn't built in one day.
I am savoring this learning experience.
 
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