Spydertrader's Jack Hershey Futures Trading Journal

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Quote from optioncoach:

I read a lot but it is spread out all over I cannot read everything. Talking about 100s of pages and time spent on each chart and post ;).

Not sure I am a fan of always keeping a position on and just reversing all day. I would believe it more if I see it in action and not just on paper on a chop day. Maybe if I am sick in bed all day I can read old posts.

The channels and FTTs are more than enough for me to trade on :)
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Quote from optionpro007:

Thanks OC. I am only taking baby steps here. But I am thinking chop chop days should be the most profitable for this system.

Yesterday was my first full day drawing channels. Today my first day documenting trades. Tomorrow I will move to actually doing sim to get used to placing trades. If I do ok, on Thursday I will be going live. I believe there is a huge difference trading sim to trading live. If I can break even by friday after going live, I will be the happiest guy in the world...

If you took the time to read through the material as per the first posts of this journal you would really appreciate what this system is capable of...

Just do it OC, You can do it !! :)

Gtty !
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Chop days are great for the SUB CHANNELS. But you have to be comfortable in seeing them and acting. I am glad we have seen a bunch of great days. For us great days are the LARGE VOLUME days. The market just MOVES! On tight days, the preference is to be on the subs but you still can do well at the forest level on a tight day. Days like good friday can usually be tight... REAL TIGHT! So that's four weeks out from now...
 
Quote from optioncoach:

Sorry for the unwanted answer, but wouldn't the lack of volume on the pullback after the FTT signal a weak move against the overall trend and the fact that the next two bars moved back higher on a volume spike indicate that it was a failed FTT?

Part of this is hopefully an answer and part of this is confirmation of whether I read that right lol.
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You read me right.

I saw the market the way you describe it now.

I entered on the FTT. It FBO'd on weak vol. I exited and took a small loss (wash).

I am wondering: was this FTT special? Is there something I missed that should have made me hesitate on the entry?
 
Quote from optioncoach:

hmmm thats a new one for me. Good job today. I can see all in working well on a day like today with long sweeping channels but on those flatter days have you noticed more chop from all in as opposed to taking off positions and waiting for re-entry signals? What has been your experience?
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the more chop the merrier for SCT. You can do more than 3x.
 
I think trading chop is the final stage. The top of the food chain. When you can trade the HVS's you have arrived. Still a dream for me. Its all I can do to catch a small trend.
 
Quote from ivob:

In this case, how and when do you know that looking for a pt3 and a short entry is not the way to go. Is it the gaussian on YM at 10:40 indicating change?
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1. The Gaussian on The YM does indicate a change, but

2. The Decreasing Black (Green) Volume forming a lateral price movement on the ES provides a clue at a much coarser resolution level.

- Spydertrader

<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1386421>
 

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Hi Mak,

I have a favor to ask you and prefer doing it here (than through pm) so everybody following can benefit.

I plan to start using your IB Vol analyzer tomorrow but don't know how to setup the macros.

When I open the file it asks me if I want to enable or disable macros. What should I do ? Not sure if I need to disable them before entering information. And after opening the sheet where do I go to change the information (I think is username) to get it to operate.

I understand it works with IB sim also correct ?

Thanks !!

p.s. I still don't understand exactly how you guys use Gaussians in your analysis.

I will be asking questions on this tomorrow after I have a better understanding of what is it that I am missing.

namaste :)
 
Quote from BA_Trader:

I am wondering: was this FTT special? Is there something I missed that should have made me hesitate on the entry?
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Nothing special at all about it.

- Spydertrader
 
Quote from Spydertrader:

Many of the charts posted over the last 24 hours missed what I have marked as the Blue Channel on the attached chart snippet. Instead, the charts have only the thinner up and down channels marked by the Green and Pink Arrows on the the attached chart snippet. Individuals who failed to 'see' the Blue Channel are ignoring the 'fractal' nature of channels - where channels form channels which form channels. In my post (several days ago) where I discussed determining the 'size' of the forest, I discussed using Gaussians as a guide for determining 'Forest Size. Even if one considers the Green Up Channel as a Point Three Channel, The FTT which forms (Yellow Highlight) creates a Point Three of a larger down channel (Red Lines) In this (Red) 'Larger Forest' Context, Red Volume is dominant. In the Blue Channel sized Forest, Black Volume dominates. How do we determine which Forest to watch? We use the Gaussians as our guide. After the FTT in the Pink Down Channel, Price begins to move higher on decreasing black volume. Such a phenomenon occurs only in a down channel. Decreasing Black Volume in an Up channels cause lateral price movement. Last week, we had two days with similar price movement (left to right traverse). Another poster commented on how the first day fooled him, but not the second. When one sees such price behavior, one must consider the possibility of a down channel. When price moves higher creating the second Blue Channel FTT, connecting the FTT's then illuminates the correct size of the Current Forest. The errors in direction result simply from a failure to 'see' the size of the Forest in which one operates. By operating in a smaller Forest, you often miss the 'bigger picture.'

- Spydertrader

<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1385469>
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I had to read your post 10 times to understand. Thkx.

I had no idea one can note an FTT out of a small 123 channel way out at a 5 or 6th vol exp line.

Cool.
 
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