Up until 10:50 I found it quite difficult to see the dominant direction but things became clearer from thereon. I spent the day annotating, which is going pretty well, but I am tending not to draw in steeper channels so this is something I will pay attention to. I also spent a lot of the day thinking âwhen is this going to turnâ instead of just calmly letting it unfold. My use of the Gaussians to anticipate direction is getting better. I need to improve my use of carryover channels. I frequently do not see âcontextâ until after the first channel of the day has formed.
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Spydertrader's Jack Hershey Futures Trading Journal
- Thread starter Spydertrader
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Spydertrader,
Thank you for all your good deeds.
Changing the trade cycle from FTT-->FTT to Point3-->FTT helped me a lot. It was more difficult to change my mind from short to long in one shot; going from short to neutral and then to long is smoother.
My problem area is waiting for confirmation to pull the trigger. I lack the confidence/conviction to execute consistently intra-day. By the time confirmation in P or V is evident, it is often too late.
Regards,
kk70
Thank you for all your good deeds.
Changing the trade cycle from FTT-->FTT to Point3-->FTT helped me a lot. It was more difficult to change my mind from short to long in one shot; going from short to neutral and then to long is smoother.
My problem area is waiting for confirmation to pull the trigger. I lack the confidence/conviction to execute consistently intra-day. By the time confirmation in P or V is evident, it is often too late.
Regards,
kk70
Hello Spyder,
I lost some money in the morning and did not trade the afternoon. In general I'm losing and sometimes they get big. I think I can phrase quite well what's going on. I feel I CAN annotate well and I do see the turning points. The problem is that i should see ONLY these turning points.
There are several problems:
1 overtrading. Trying to immediately correct a trade that went wrong. Then if it doesn't go your way immediately I get out ending up with two losses. This influences trades thereafter and objectivity.
2 I should relax and wait for the REAL FTT instead of seeing FTT's everywhere. Especially when volatility decreases and I had some losing trades I get fooled.
I think I should use some additional rules. Maybe a good one would be to just do ONE TRADE a day maximum until I'm profitable. Or maybe just papertrade until I'm profitable. Cooling down period after a trade. Any suggestion?
The positive thing is that I do not stick my head in the sand and I think I know what's wrong and willing to do anything to correct it.
regards,
Ivo
How did everyone do today?
I lost some money in the morning and did not trade the afternoon. In general I'm losing and sometimes they get big. I think I can phrase quite well what's going on. I feel I CAN annotate well and I do see the turning points. The problem is that i should see ONLY these turning points.
There are several problems:
1 overtrading. Trying to immediately correct a trade that went wrong. Then if it doesn't go your way immediately I get out ending up with two losses. This influences trades thereafter and objectivity.
2 I should relax and wait for the REAL FTT instead of seeing FTT's everywhere. Especially when volatility decreases and I had some losing trades I get fooled.
I think I should use some additional rules. Maybe a good one would be to just do ONE TRADE a day maximum until I'm profitable. Or maybe just papertrade until I'm profitable. Cooling down period after a trade. Any suggestion?
The positive thing is that I do not stick my head in the sand and I think I know what's wrong and willing to do anything to correct it.
regards,
Ivo
I watched the green pile up until I couldnt stand it any more and hit the close button then watched it continue on that far again. I have a problem hitting the trigger if I am sitting on a nice profit. The plan usually goes out the window after I close out a good trade. Not sure what to do about it. I could close the p&l but I would still have a pretty good idea of where I was so I dont think that would do any good.
It seems that my channels are too "tight". When I start drawing channels. Price does not stay long inside and there are some outside bars that are part of the channel or of a new or wider channel. Maybe this means the channels are drawn too early.
This is why I trade much better when I come in the room when the market has been open for a while (and the channels are obvious) then when I start from the beginning and I'm still trying to figure out what's going on.
regards,
Ivo
This is why I trade much better when I come in the room when the market has been open for a while (and the channels are obvious) then when I start from the beginning and I'm still trying to figure out what's going on.
regards,
Ivo
Hello Spydertrader.
My troubles are re: the overlap of channels.
Seeing an FTT on a dominant means I start to create a down
or non dominant tape.
I start to get lost knowing whether I have a point 3 when price retraces to the RTL of the tape or whether I in fact have an FTT in the origonal dominant channel that has created this pull back to the RTL of the tape.
Where I am unable to understand whichis which is in the gaussian.
Volume can go from red to black intra bar so quickly and
I am out of position ie: the wrong side before both vol and the bar have completed.
Often if I then change direction I am caught in a "chase my tale " situ...
i understand to sideline when in doubt, but I am not entering initially on doubt..I am just unable at times to keep up or understand the intrad bar situ...
Many thanks
FilterTip
My troubles are re: the overlap of channels.
Seeing an FTT on a dominant means I start to create a down
or non dominant tape.
I start to get lost knowing whether I have a point 3 when price retraces to the RTL of the tape or whether I in fact have an FTT in the origonal dominant channel that has created this pull back to the RTL of the tape.
Where I am unable to understand whichis which is in the gaussian.
Volume can go from red to black intra bar so quickly and
I am out of position ie: the wrong side before both vol and the bar have completed.
Often if I then change direction I am caught in a "chase my tale " situ...
i understand to sideline when in doubt, but I am not entering initially on doubt..I am just unable at times to keep up or understand the intrad bar situ...
Many thanks
FilterTip
Quote from Spydertrader:
How did your trades (real, simulated or monitored) go today?
I was profitable, but not nearly what was available.
How did you feel during the trades? Anxious? Nervous? Ecstatic?
When in the trade(s), I was nervous and looking at the leaves and bark rather than the big picture .
Can you 'see' the market as it unfolds?
I was seeing and almost not believing what was going on. I had closed a short just ahead of the afternoon sell-off and could not bring myself to jump back in short. I had been hurt Monday chasing the market (the wrong one) and that added to my reluctance to get back in.
Where do you see difficulty, and where do you see improvement?
I have not spent enough time on the volume Gaussians, so that is where I have the most difficulty.
Can you correctly use Channels and Gaussians to correctly anticipate direction?
Doing fairly well with the channels, not so with the volume (see above).
and finally ....
How can I help, or what additional aspects need further clarification?
Rather than following only the structure you had put forth, I was branching out and applying this to the Russell. That was a big mistake. Maybe at some point in the future my skills would be such that I could migrate this to other markets, but it is very important for us (specifically me) to focus on the task at hand rather than trying to watch too many different markets at one time.
Thanks in advance.
- Spydertrader
Quote from ivob:
It seems that my channels are too "tight".
Not that I'm qualified to give advice really, but remember that price action determines the channels not the other way round. Subsequently price may stay within an established container for a while but you have to allow time for the container to form (the recent memory of all that volume that went through).
Get a nice fat pair of skis, don't look at your ski tips (or other nervous skiers) and enjoy the scenery. GS comes later and MAK is on twin tips.
Quote from PointOne:
Not that I'm qualified to give advice really, but remember that price action determines the channels not the other way round. Subsequently price may stay within an established container for a while but you have to allow the container time to form (the recent memory of all that volume that went through).
Get a nice fat pair of skis, don't look at your ski tips (or other nervous skiers) and enjoy the scenery. GS comes later and MAK is on twin tips.
Thank you for the advice. Especially when volatility decreases (bars becoming shorter and less volume) it is important to wait I noticed. Before taking a trade I should look at volatility. Is it low then wait longer for clarity.
Ivo
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