Spydertrader's Jack Hershey Futures Trading Journal

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Quote from Lightbody:

I agree with your post. Getting back to the forest is great since I was raised in a log cabin in the Washington wilderness.

But, as I write this, we are having a pretty nice down move. As I recall, we were suppose to hold during a stall. Therefore, on paper since I am still a beginner and want to keep my money, I was holding through this to see the out come, since I did not see an ftt at the 13:00 bar (ET). Perhaps I should re-examine my thoughts on holding through this even though this time I was on the right side. My chart is on my other computer. Perhaps I can post it later.

Again, thank you for such a wonderful journal and personal effort.
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Attached is a chart of what I was seeing:
 

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Quote from Spydertrader:

.. Please post your comments either way so I can 'see' where we need to focus the next several posts.

- Spydertrader
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Affirmative Spyder

the forest view worked nicely and was clear. Exited on the RTL @ 1447.75

One happy Lama here

<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1356296>

IRL
 

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Inspite of the detail I am on the Forest view...got the main channels well.

Did not stay in for whole move down, but used the yellow exspansions as stop targets and re-entered from a point 3 each time..

FilterTip
 

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Hey ST,

I'm a little confused about a channel on this 2min YM. Starting from FTT @ 11:48 (red channel). It looks to be drawn w/o a pt 3. Can you explain why you drew the channel this way? I can see this working if we use the 12:00 bar as pt 2 and 12:18 bar as pt 3.


Quote from Spydertrader:

Today's YM Chart

- Spydertrader
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Quote from Spydertrader:

Today's ES Chart with comments.

- Spydertrader
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Just some questions,

You mention on the charts taped FTT's

But aren't the bars at 12:35 / 12:40 and 13:00 / 13:05 / 13:15 also taped TTT's?

I suppose at 13:20 one would get out of the trade (right trend line is broken) that started at 11:50 (actually trade started at 12:45 because we're supposed to get in on a 1-2-3 after BO).
Am I right about we would get out at 13:20?

Then you would go short again right after that at 13:30 or 13:25 because of the taped FTT. Is that right? Also using forest view? This would have been a very hard trade because price went down really quickly after that and it could just as well have gone up to establish a point 2.

regards,
Ivo
 
Quote from Steve Tvardek:

I'm a little confused about a channel on this 2min YM. Starting from FTT @ 11:48 (red channel). It looks to be drawn w/o a pt 3. Can you explain why you drew the channel this way? I can see this working if we use the 12:00 bar as pt 2 and 12:18 bar as pt 3.
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I just slid down the red parallel line. The channel point two actually occurred well before where I have the current line. Point Two would be noon had I left the original line in place.

- Spydertrader
 
Quote from ivob:

You mention on the charts taped FTT's
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The tapes in this chart are what we use to build our Point Three Channels. I have included the Taped FTT's to show where those 'tapes' ended. At the end of a down trend I note how after several attempts - we finally built a Point Three Uptrend. Note - on the Forest View, we only care about tapes which do form a Point Three.

Sorry for the confusion.

- Spydertrader
 
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