Spydertrader's Jack Hershey Futures Trading Journal
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Hello Spyder,
A question about your chart.
There's this FTT where you mention "A significant portion of this bar is red volume". What exactly do you mean by this? I mean this information would support that it is not an FTT but it was one. Also this bar ends higher than where it opened and ended almost at its high. Are you talking about red volume while the bar was being formed? If yes, I suppose it would be wise to wait before entering (assuming you enter on FTT) until two bars later which also was an FTT but with black volume. I just want to verify if I am seeing this correctly.
regards,
Ivo
I call these reversal bars: it dips down, does the FTT, pace pauses if you are lucky and then PRV increases as it begins the reverse (red becomes black).
I color code bars that do this in real time so I get a heads up. From my limited experience they are 'reliable'.
Hope that helps and you don't mind me jumping in to answer.
Okay, I understand. But you need to see substantial black volume else I would not call it reverse. We need red but certainly also we need black. Or is it just enough to see a lot of red volume and see this bar ending higher on small black volume?
One could say "despite all this red volume price was not able to continue to LTL, so it's an FTT". One could also say despite all this red volume price was not able to continue going to LTL and a lot of black volume came in half way".
I suppose both type of FTT's exists. My observation is that volume is the most important because we would need even more volume for price to continue going down. But we do need some type of reversal or price ending higher which it does, after all it's a black bar. So this is why I didn't understand it when Spyder writes that bar has substantial RED volume. Isn't it enough to know that the bar has substantial volume (more volume than surrounding bars) and it ends black?
regards,
Ivo
How many refer to "a Gaussian" without really knowing what a Gaussian is?
Do you even know what a normal distribution is, how to determine it, and correctly utilize it's properties?
I ask this, as an example, because I want people to think harder(?) about what Jack is presenting to you all. What he presents goes much deeper than what's on the surface.
Continue to learn/THINK... and then some.
-kt
Do you even know what a normal distribution is, how to determine it, and correctly utilize it's properties?
I ask this, as an example, because I want people to think harder(?) about what Jack is presenting to you all. What he presents goes much deeper than what's on the surface.
Continue to learn/THINK... and then some.
-kt
I want to be careful in my wording here: volume does not really have a color, price bars do.
Volume is volume - long and short is matched in every trade, obviously.
The important thing is at some point in the bar, when the selling had slowed, the supply of longs was starting to be consumed faster than the supply of shorts - buyers were getting long at the support level at the bottom of the bar and hardly anyone was hitting the bids with new shorts.
Noticing that the bar was no longer continuing down buyers come in (often after a brief pause as this change in sentiment is processed) and PRV increases, begetting more price change and more volume. (You can call this black volume if you want.)
Forget that the bar ended black - on my chart it is red (actually pink because it ended up far away from its low and I color code it - think stochastics). It gave the same signal whatever its color.
I hope I haven't opened a can of worms, but sooner or later you have to look at the intra-bar detail and think about supply and demand balances especially during change.
I hope you don't mind me jumping in here, but the intra-bar vol is what I am trying to understand.
I gave an example a few post ago re: the DAX for Firday 30.30.07.
For me it's the rate at which the bar colour changes, and as you say, vol doesn't have a colour.
May I ask about the PVR ?
Is this where we assess how much vol we have within the firt 30 secs of the bar inorder to give a projection of what kind of vol we might have for the entire 5 min bar..?
I would be really grateful for some clarification on this ( or link to what I've missed if I'm getting this wrong).
Also does anybody have MAKS pvr.xls tool configured for Esignal.
I can't find the equivalent syntax that is needed for cumulative vol and the 'T Time'.
Appologies if this is off topic but as its PVR I'm hopeing it's quite relavent.
Many thx
FilterTip
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