Spydertrader's Jack Hershey Futures Trading Journal

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Spydertrader

Thanks for this great journal, I'm catching up and trying to learn the material, I wanted to ask this question for a while now but decided to wait till we got to discussing YM in the syllabus,

My question is do you use YM only as a leading indicator in spotting FTTs in ES ?

Can the Jack Hershey method be used to trade YM on the 2 min timeframe, I guess the answer is yes, but YM has less volume than ES, and trading on the 2 min timeframe seems too fast for me, but this is only my perception,

If trading YM on the 2 min and by definition it is a leading index, is it better to trade it using wider channels rather than going for every traverse ? I understand this to mean coarse resolution, is this correct ? Or with practice can one draw in the finer channels and trade these on the 2 min YM ?

Thanks
 
I have a feeling you are going to get an earful from Spydertrader just for asking these questions :)



Quote from vedanta:

Spydertrader

Thanks for this great journal, I'm catching up and trying to learn the material, I wanted to ask this question for a while now but decided to wait till we got to discussing YM in the syllabus,

My question is do you use YM only as a leading indicator in spotting FTTs in ES ?

Can the Jack Hershey method be used to trade YM on the 2 min timeframe, I guess the answer is yes, but YM has less volume than ES, and trading on the 2 min timeframe seems too fast for me, but this is only my perception,

If trading YM on the 2 min and by definition it is a leading index, is it better to trade it using wider channels rather than going for every traverse ? I understand this to mean coarse resolution, is this correct ? Or with practice can one draw in the finer channels and trade these on the 2 min YM ?

Thanks
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Quote from Pr0crast:

ty Mak- always fun to compare to your charts :) Somebody should get you a hat that says "PV Patrol".
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He's got one already - it's a filing cabinet drawer. I'm hoping Mak will come up with a picture for us someday :p
 
Quote from Bearbelly:

ETL That is pretty much the way I was thinking too. Smaller timeframe appears to lead the larger timeframe but I now believe there are other factors involved. For one lets assume smart money hits ES and YM at the same time. It takes much less volume to move YM than it does ES so the smart money there causes YM to move before ES catches up.
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it has to hit at the same time because 30 is in 500.
 
Quote from vedanta:

Thanks for this great journal, I'm catching up and trying to learn the material, I wanted to ask this question for a while now but decided to wait till we got to discussing YM in the syllabus,
More...

Thank-you for waiting until the discussion reached the appropriate portion of the Syllabus before asking your question. I appreicate your efforts to keep the discussion on track.

Quote from vedanta:

My question is do you use YM only as a leading indicator in spotting FTTs in ES ?
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No. The YM represents a leading indicator of 'change' for the ES Price. Later in the Journal we will discuss using the YM where there is no FTT on the ES - only a Left to Right Traverse. At that time, we will focus on Flaws as a signal of change as well.

Quote from vedanta:

Can the Jack Hershey method be used to trade YM on the 2 min timeframe, I guess the answer is yes, but YM has less volume than ES, and trading on the 2 min timeframe seems too fast for me, but this is only my perception,
More...

You can use Jack's Methods to trade any market you like. However, in this Journal, we focus on trading the ES using the YM as a tool toward that end. As I have stated many times ...

Any Market on Any Timeframe - provided sufficient liquidity exists.

Quote from vedanta:

If trading YM on the 2 min and by definition it is a leading index, is it better to trade it using wider channels rather than going for every traverse ? I understand this to mean coarse resolution, is this correct ? Or with practice can one draw in the finer channels and trade these on the 2 min YM ?
More...

If one chooses to trade the YM, whether or not the YM leads the ES no longer matters. All beginners - irrespective of market chosen - should trade on the Coarse Level Resolution. Only after gaining experience should one drop down among the trees, limbs and leaves of the forest. In other words, learn to crawl before attempting to walk, run, jump or fly.

Of course, your mileage may vary.

- Spydertrader
 
Quote from dkm:

ES 5min 5 Feb 07
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Thanks dkm...I have learned alot by comparing mine to your charts and I appreciate your 5min debriefs as well...keep those coming if you have em typed already =)
 
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