Spydertrader's Jack Hershey Futures Trading Journal
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Quote from PointOne:
I don't know where you got the impression that I don't believe the YM leads the ES. I have observed it and believe it: it's almost cheating.
WISTYI I'm fascinated as to why it works out this way - it's one of the best breaks we've been given as the "not-so-smart-money" and I'm surprised it hasn't been totally ironed out by the arbs. There must be good reasons why it can't be. I think it is very important to understand the other players in the market, their motives and operational limitations. Jack could help our understanding here. For now I'm just happy it works.
I have read a lot of Jack's post on this subject. I did not mean to give the impression that I was totally new to this concept. For example, here's a snip of something he wrote previously (which I have filed in an electronic 3-ring binder):
I know we'll be getting on to STR/SQU in good time (the cash INDU and futures YM premium comparison). I'm very curious to know what the YM equivalents are for the Nikkei and DAX, I'm starting to feel exposed out there without all the tools.
Thanks so much for pulling that from your electronic three ring binder. It will be a help to many others, I'm sure.
I feel as Spyder does that keeping your eye on the ball and getting as much betting in is the important thing.
The ball park commentary is a secondary consideration. Do rest assured that it is all there, however.
This journal and the pace at which we have chosen to learn is right on the mark.
When the MODE is CHANGE, we will be looking at the YM leading the ES to make the best of this level of trading. For FEB there is a lot of work to do.
The forest level was the ONLY place to begin. Now that you have 20 or more days in on the forest, your mind is ready for another dose to take in a thorough and knowledgeable way.
Treat yourself to the opportunity to build your mind in the best possible way with what is going on here.
i am so glad to see the other exchanges and instruments coming into the picture.
My best to everyone.
Had a few breakthroughs today..
The point 3 thing was quite fluid.
I think a combo of getting close enough to the market but not too close.
Like you have to see the bacteria but from the forest canopy..
Secondly, the way and importance of channel coming OUT FROM previous channel..i was better on the DAX with this but without realizing that I was doing it.
Serendipidy visited again today as I posted immediately after Spytrader's "half Time" post which I didn't know he had posted.
His Olive channel (which I superimposed on to my attached chart) spoke to re: coming OUT FORM previous channel. Reason being , the ease (relatively) that his channel set out the future, His olive channel ( as it transpired) gave far better conext for the future price action. To be able to compare with where I was in the market (at that very moment was the serendipidy).
Lastly, it was also continued insight to see that by taking the "NOW" action re: the rules of FFT, FBO and BO, even I was able to stay on the right side. Eventually I was channelling out og previous channels with a bit more fluidity...
Anyway forgive the indulgence. It goes without saying that I hope what I've posted is or will be ( in the future) a help, in so far as asking a question or making an observation, for someone who is also on the same starting out process as myself.
Best to all
FilterTip
"every day I wake up and realize I know nothing and then I smile"
The point 3 thing was quite fluid.
I think a combo of getting close enough to the market but not too close.
Like you have to see the bacteria but from the forest canopy..
Secondly, the way and importance of channel coming OUT FROM previous channel..i was better on the DAX with this but without realizing that I was doing it.
Serendipidy visited again today as I posted immediately after Spytrader's "half Time" post which I didn't know he had posted.
His Olive channel (which I superimposed on to my attached chart) spoke to re: coming OUT FORM previous channel. Reason being , the ease (relatively) that his channel set out the future, His olive channel ( as it transpired) gave far better conext for the future price action. To be able to compare with where I was in the market (at that very moment was the serendipidy).
Lastly, it was also continued insight to see that by taking the "NOW" action re: the rules of FFT, FBO and BO, even I was able to stay on the right side. Eventually I was channelling out og previous channels with a bit more fluidity...
Anyway forgive the indulgence. It goes without saying that I hope what I've posted is or will be ( in the future) a help, in so far as asking a question or making an observation, for someone who is also on the same starting out process as myself.
Best to all
FilterTip
"every day I wake up and realize I know nothing and then I smile"
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