Spydertrader's Jack Hershey Futures Trading Journal

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Quote from R/R:

FilterTip:
I took a look at your DAX chart and only have time for a quick note right now.

You are showing FTTs on non-domimant traverses (retraces) back to your RTL on the magenta and green RTL's. By definition FTTs only appear on dominant traverses as they fail to complete the traverse right to left, ie to the LTL.

I hope this helps you to sort out a few things as you review the material.
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R/R

Thx for your help...
I've attached a "corrected chart".

My main green channel I drew in later in the day when I felt I had the point 3 at about 9.15am.

I am finding it difficult to annote the text in real time so I mark the text (FTT FBO etc.).on paper. So I have confussed myself there firstly as the first lower green FTT ought to have been a red FTT as it is in the corrected chart..(probably over exicited at the ACTUALY seeing a point 3 !!!)

The 2nd green FTT is valid as that refers to the lighter green expansion just above.

Having said that, I had completely missed the lesson re not having FTT on the non- dominant traverses...thankyou thankyou..making sense piece by piece..

How are these situations to be annotated then..?
I thought FBO had to push out of the channel line and then re-enter..?
Are we to annotate any move that fails to make a non- dominant travers as an FBO..?

Many thax
 

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Quote from Cocaine:

What would be nice to see is if Mak and Spy could, when they post their screenshot of the day also add, "today my gross profits were $1400 or $550" or whatever. No need to see an account statements, I think everyone who follows this thread closely would believe either of these fellows. EOD P&L is merely a scorecard for how the day went. It would just be nice for those following the thread to see how its teachers are doing while we are all following in realtime.
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OT! We do not wish to invite the trollers in droves... The writing on the ET wall is usually pretty clear. "Don't feed the animals". :cool:
 
Quote from Spydertrader:

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
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Great thread so far!!!

What is the rationale for your comment that YM is smarter than ES?

Doug

ps-just wondering as this part of JH does not make sense to me.
 
This is a question Ive put forth too but watching the last couple of days with YM directly above ES I certainly see the value in anticipating the FTT's. As to the smart money, it makes sense to me that they can play their games easier on 30 stocks than on 500.
 
This morning was classic. Ive started using the translucency feature on Quotetracker and running YM right behind ES and scaled to synch. Makes it easy to follow. The ftts on bar 4 and 10 are clearly anticipated on the YM.
 

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Quote from FilterTip:

Moved last green chanel on ES and YM ..is this allowed..?
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We walked out of that channel and into CCC. Oberve the extremely low volume levels on the ES and YM.

I notice you have added a 'Volume Footprint' to your workspace, yet have failed to add the 'Market Pace' lines to your YM and ES Volume. Since you appear to continue to experience some difficulty 'getting it,' perhaps, you should take the advice others have provided you and re-read this thread in an effort to catch what you have missed the first time through. In this fashion, you'd stop inventing and start following directions.

My comments are not designed to be 'mean' or impolite. I simply want to make you understand the valuable advice already dispensed in your direction.

Of course, the choice remains yours as to how you feel it best to proceed from here.

- Spydertrader
 
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