Spydertrader's Jack Hershey Futures Trading Journal

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Real Time annotated chart with trades.

Am I taking to many trades or am I too focused on the weeds?

Thick Green line = long after a pt 3 of a RTL was identified. Exit on break out of RTL.

Thick Red line = short after a pt 3 of a RTL was identified. Exit on break out of RTL.

Buy and Sell Price is somewhere between High and Low of bar.
 

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Quote from nkhoi:

noon report, more upside to go?
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Hi nkhoi,

I was studying you ES chart and then noticed you do not include the first bar in your first (green) channel. Why is that? Is there a specific reason for it?

I used the 1st , 2nd and 3rd bar to draw a RTL and subsequently the 3rd bar seemed very much like a FTT to me (which didn't turn out well) but luckily I recognized the stall right after that realizing price would just continue. But as the 4th bar had lower volume than the 3rd one I was still thinking to be right with my FTT during that bar. (I saw the stall on 5th bar)

You used the 2nd, 4th and 6th bar to draw RTL which worked out much better. Of course I saw this channel after 7 bars or so but then I would still draw RTL from the bottom of first bar to bottom of the sixth bar (the one with the highest volume).

Your channel is the blue one on my attachment, mine is the white one.

Can anyone comment on this? Am I using too high resolution and should I wait a few more bars before annotating? Or was this just a flaw and one should get on the "right side of the market" again on the 4th or the 5th bar after finding out I was wrong or even one tick above the FTT (which turned out to be a WTF :-)

So is there a specific reason to leave the first bar out?

regards,
Ivo
 

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Quote from ivob:

Hi nkhoi,

I was studying you ES chart and then noticed you do not include the first bar in your first (green) channel. Why is that? Is there a specific reason for it?

..

So is there a specific reason to leave the first bar out?

regards,
Ivo
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since the first bar was kind of tall compared with the next bar, I used the second bar to create a channel then the angle won't be so steep (I saw spyder did that) but when I saw Mak chart I think it is better to include that first bar to reflect the true volatility of the day.

ps. subconsciously, I think I tried to 'cut the corner' so that I didn't have to adjust the channel so soon.
 
Quote from ivob:



So is there a specific reason to leave the first bar out?
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He may have started the day later. Include the first bar. There aren't any reasons for leaving bars out unless you get a bad tick problem. Your WTF is an FTT of the channel of the first 3 bars. Next you get a lateral, then you get another long channel. The forest view contains the first long TRAVERSE CHANNEL, then the lateral RETRACE CHANNEL, then the long TRAVERSE CHANNEL which FTTs. Within each one of these leg channels you also have the traverse and legs which are the progressions towards pt1,2,3, FTT. Even if you find yourself to be upside, just regard your RTL. I build channels of channels. When the day begins, I start small, and then encapsulate pairs of channels furthur and furthur out. Check out DKM's chart. His pt3 of his forest view came a tad later in the day... It is fine because he's got a RTL that he is then regarding...

<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1360280>
 

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On a side note, I've downloaded the Camtasia video mentioned early on in this thread along with the codec but the damn thing keeps crashing windows when I open the file and my computer goes into safe mode and I'm forced to shut down. Anybody know why I cant view this video?
 
Quote from ang_99:

On a side note, I've downloaded the Camtasia video mentioned early on in this thread along with the codec but the damn thing keeps crashing windows when I open the file and my computer goes into safe mode and I'm forced to shut down. Anybody know why I cant view this video?
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Nevermind, i got it working..
 
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