Spydertrader's Jack Hershey Futures Trading Journal
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Yes, the Dark side... Its so alluring...
cj...
Spyder or however feels they understand please help.
I'm seeing most of the annotations correctly in realtime. In reviewing Spyders chart I have a few questions.
1. the green FTT above the red 1 at 10:35, can you have a FTT on the same bar as the volitility expansion or is the FTT the following bar. Please explain this situation. I do see the volume on the red reversal bar decreasing. Is the decreasing volume or the reversal bar the reason for the FTT there?
2. shouldn't there be a red FTT around the 11:30 bar?
3. once price bo of the brown down channel and rentered it do you still look for an FTT in that channel? If so should there be one in the same area as the previous question?
Yesterdays chart appeared to have the same feature, a FTT on a volitility expansion bar.
Thanks
I'm seeing most of the annotations correctly in realtime. In reviewing Spyders chart I have a few questions.
1. the green FTT above the red 1 at 10:35, can you have a FTT on the same bar as the volitility expansion or is the FTT the following bar. Please explain this situation. I do see the volume on the red reversal bar decreasing. Is the decreasing volume or the reversal bar the reason for the FTT there?
2. shouldn't there be a red FTT around the 11:30 bar?
3. once price bo of the brown down channel and rentered it do you still look for an FTT in that channel? If so should there be one in the same area as the previous question?
Yesterdays chart appeared to have the same feature, a FTT on a volitility expansion bar.
Thanks
Note the attached Chart Snip.
1. Price Moves up on the black bar (blue arrow), hits the high of that bar and pulls back (orange arrow). Red bar opens and price moves higher (blue arrow) hits a new high and pulls back to the low of the red bar (orange arrow) where it pulls back off the low to close lower than it opened (blue arrow). The second red bar opens a tic higher and price moves higher (also blue arrow in between two red bars) and fails to traverse the channel all the way to the left trend line (red circle and yellow highlight). Price then heads lower (orange arrow).
2. there was an FTT marked at 11:35 and another at 11:45, but I inadvertently scrolled the Price Pain down too far in an effort to bring price closer to the volume pane. As a result, I covered up the previously marked FTT's. Thank you for bringing up this point in case others had some confusion in this area.
3. Once Price breaks (by more than a tic or two) a RTL (right trend line) of a channel, that channel is over, done, finished - kaput.
When one sees Volatility Expansions, one should entertain the possibility of seeing an FTT soon after. While not always the case, placing your mind into a place where it begins to more closely look for FTT's often meets with success.
- Spydertrader
<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1387891>
Thanks Spyder
Do you still consider that the forest level. I guess you do or you wouldn't have posted it. Just hard for me to see at that resolution. It was a good resistance area to be looking for that although I don't imagine that is part of the current methods.
I have been happy with the progress at the forest level however I use finer resolution and volume dryups to enter on RTL. Seem like there is always some choppy point of the day where this causes me to give back most of my gains, when debriefing I can see exactly the errors of my ways. I much as I want to run I continue to slip on the leaves.
Do you still consider that the forest level. I guess you do or you wouldn't have posted it. Just hard for me to see at that resolution. It was a good resistance area to be looking for that although I don't imagine that is part of the current methods.
I have been happy with the progress at the forest level however I use finer resolution and volume dryups to enter on RTL. Seem like there is always some choppy point of the day where this causes me to give back most of my gains, when debriefing I can see exactly the errors of my ways. I much as I want to run I continue to slip on the leaves.
In case anybody is wondering why I didn't post today's trading log, it was because truth must be told, I screwed up big time.
And even though I screwed up big time (overtraded/42RT) I ended up the day down only 0.25+comm. I can post the sheet if anybody is interested.
I believe (know) I am overtrading i.e. trying to trade at a Makosqu level (because I get bored) without the experience or the tools.
I would appreciated if Spyder could give me an idea, at the level we are now, how many trades should have been logged today and if possible the entry and exit for these trades according to where we are supposed to be in the Syl...
Thanks.
And even though I screwed up big time (overtraded/42RT) I ended up the day down only 0.25+comm. I can post the sheet if anybody is interested.
I believe (know) I am overtrading i.e. trying to trade at a Makosqu level (because I get bored) without the experience or the tools.
I would appreciated if Spyder could give me an idea, at the level we are now, how many trades should have been logged today and if possible the entry and exit for these trades according to where we are supposed to be in the Syl...
Thanks.
Relax. Slow down. Trading should not involve stress of any kind. If you follow along at your current resolution level (using the current tool set) you'll remain calm, cool and collected throughout the day. Remember, we learn to crawl, before attempting to walk, run or fly.
Based on your previous posts, I have you sitting somewhere between the 'Forest' and the 'Trees.' If I have misinterpreted your current operating resolution, let me know. Attached, please find a chart of today's ES containing annotations for long, short and exit points. I have taken the liberty of including a delay in signal recognition, as well as, slippage into these annotations.
Let me know if you still have additional questions.
- Spydertrader
Quote from optionpro007:
In case anybody is wondering why I didn't post today's trading log, it was because truth must be told, I screwed up big time.
And even though I screwed up big time (overtraded/42RT) I ended up the day down only 0.25+comm. I can post the sheet if anybody is interested.
I believe (know) I am overtrading i.e. trying to trade at a Makosqu level (because I get bored) without the experience or the tools.
I would appreciated if Spyder could give me an idea, at the level we are now, how many trades should have been logged today and if possible the entry and exit for these trades according to where we are supposed to be in the Syl...
Thanks.
Optionpro,
This should be a clear sign to you that you haven't done the work. You need to go back and start at the beginning. Slowly.
There are no short cuts.
If you had taken the time to read the thread, even cursorily, you would already have the answer to your question. Forest level trading will usually produce something like 2-6 trades per day.
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