Spydertrader's Jack Hershey Futures Trading Journal
- Thread starter Spydertrader
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Ye Ha.... took the first FTT and rode it up from 1384 to 1398....
the PV readings were a big tip off to that move... plus didn't hurt to know that the 1382.50 was 100 day moving average for institutions...
cj...
I actually been a lurker for some time as I tried to read as much in the background info as I can. Still reading as I find this a nice addition to my approach for trading futures.
I started out today with my first trades drawing channels and such. I do not do it yet as detailed as you guys or with all the markings. I tried to just see the bigger picture for each channel adn look for FTTs or actual breakouts.
I will attach my chart in a bit. I was able to make 2.5 points by the time the market actually opened (i.e. in the pre-market off of 4 trades with one losing trade in out of the 4).
My total would have been bigger however on the open when I was short at 1390.50 I covered at 1389.25 because this is still new and I am feeling my way around. Naturaly that candle closed at 1385 so I would have grabbed another 4.25 points. I am not bothered I did not get those additional points because the "approach" got me in that specific entry, I just pulled the trigger fast due to the learning curve. So I could have had about 6 points trading the pre-market to the open alone. Very pleased with that potential.
Naturally after the open I got involved in other trades and stepped away so I missed the breakout that on my chart occured at around 9:55 - 10:00 AM somewhere around 1390, give or take a few points since I am not as adept as this as you guys. However that signal with my lagging entry would still have gotten at worst another 5 points.
While writing this I also jus noticed a FTT at the 10:30 AM 5min bar which would have led to a short entry at 1402.75 (hope this is not just hindsight) and the market is currently at 1399.50 as I write this for another 2 -3 points depending on where the exit would be.
So for a newbie at these channels I can see on a really volatile day how one can steal about 10 - 15 points. I approached quite "pussily" and still grabbed 2.5 myself. I am giong to back study many days and practice drawing but I sill am at the basic level of just channels for right now. I am not grabbing gaussians or left to right or those other terms other than FTT but still seeing the trades at this low level. So I assume with more reading I will get a deeper understanding.
Anyway thanks for all those who detail and summarize. I still see areas where I would get whipsawed on FBOs but today is more volatile than usual so I will take that with a grain of salt.
EDIT: the recent FTT I mentioned above at 1402.75 showed another FTT and BO right now at 1403.25 for a long entry. ANyone else see that or am I seeing a whipsaw lol?
I started out today with my first trades drawing channels and such. I do not do it yet as detailed as you guys or with all the markings. I tried to just see the bigger picture for each channel adn look for FTTs or actual breakouts.
I will attach my chart in a bit. I was able to make 2.5 points by the time the market actually opened (i.e. in the pre-market off of 4 trades with one losing trade in out of the 4).
My total would have been bigger however on the open when I was short at 1390.50 I covered at 1389.25 because this is still new and I am feeling my way around. Naturaly that candle closed at 1385 so I would have grabbed another 4.25 points. I am not bothered I did not get those additional points because the "approach" got me in that specific entry, I just pulled the trigger fast due to the learning curve. So I could have had about 6 points trading the pre-market to the open alone. Very pleased with that potential.
Naturally after the open I got involved in other trades and stepped away so I missed the breakout that on my chart occured at around 9:55 - 10:00 AM somewhere around 1390, give or take a few points since I am not as adept as this as you guys. However that signal with my lagging entry would still have gotten at worst another 5 points.
While writing this I also jus noticed a FTT at the 10:30 AM 5min bar which would have led to a short entry at 1402.75 (hope this is not just hindsight) and the market is currently at 1399.50 as I write this for another 2 -3 points depending on where the exit would be.
So for a newbie at these channels I can see on a really volatile day how one can steal about 10 - 15 points. I approached quite "pussily" and still grabbed 2.5 myself. I am giong to back study many days and practice drawing but I sill am at the basic level of just channels for right now. I am not grabbing gaussians or left to right or those other terms other than FTT but still seeing the trades at this low level. So I assume with more reading I will get a deeper understanding.
Anyway thanks for all those who detail and summarize. I still see areas where I would get whipsawed on FBOs but today is more volatile than usual so I will take that with a grain of salt.
EDIT: the recent FTT I mentioned above at 1402.75 showed another FTT and BO right now at 1403.25 for a long entry. ANyone else see that or am I seeing a whipsaw lol?
Yes, the Bid / Ask volitility is unusal of course so when it settles down doing an incremental sizing plan in the spy and later moving up to mutiple contracts in the ES is a great way to build confidence in the PV Channel method...
cj..
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