Spydertrader's Jack Hershey Futures Trading Journal

Status
Not open for further replies.
hi guys, just a quick question regarding FTT. I know how to spot for FTT as well as the definition of it, but there's just one part that's really confusing me.

Below is a chart i'm going to use as an example. this is a chart drew by Jack Hershey himself in the Trendlines thread:

http://www.elitetrader.com/vb/attachment.php?s=&postid=1078337

I understand why B is a FTT, because the dominant traverse failed to reach the left trendline. And this is the part that's confusing me.... in that up channel, it seem none of the traverses within t hat up channel actually touched the left trendline when it was traversing up... so how come none of those are FTT? and if we're doing this in real time, how do you distinguish these and the FTT annotated as point B... since this point B is the one that actually worked out since the trend chnages at thhis particular point.

Same goes for the downtrend channel in on that chart. There is a candlestick that almost touched the left channel (kinda in the middle of the downtrending channel) but failed to do so, why isn't this one a FTT but the one followed after is? and if you're drawing this live, what about the area where all those red candles are congregated? especially the one where it is followed by a small green candle? none of those touched the left bottom channel line. so are these all FTT as well?

Would really appreciate it if anyone could clarify this part for me.
 
[i

Anyway just thought I would share some nice trades and some hardware frustration. [/B]
More...

I tried to short YM shortly after the point three formed just before 10 at 12177 and price went through my limit without filling and right then my computer bluescreened on me. I wasnt too worried because I figured price had just gone on down from there but I was little worried that it might come back through and fill me on the way back up so I was punching buttons fast and furious. I finally got tws up again and I was up $140 so it had gone up a bit and filled me then went down again but my charts were missing a bunch of bars so I hit the buy button as I had no idea what was going on. Then watched it proceed down another 20 points. Its uncanny how my software picks the worst possilbe moment to start screwing up. Fortunately this time it worked out ok. This computer has done this to me before and I still cannot figure out why. Time for a new box I guess.

p.s. Is there any site that could tell you what your problem is if you sent them the numbers off your bluescreen?
 
For me I think X-trader was just glitching up and I could just re-boot and it would be fine. I was able to jump in and go short at 11:05 AM BAR but it was still glitching so I bailed at .50 profit as it moved another 1.50 in my favor lol. I will just let it be for the rest of the day. So 3.75 for the day.

As for you, sometimes the continuous java streams from IB just overload things for a moment and unfortunately the additional hitting of buttons just lock things up. Best bet is to give it a second or two to see if it stops the loop it is in or close other non-IB windows to free up memory.
 
I notice some software platform will go haywire when it is fast market. I just laught at my friend who use jtrade because I know it will get stuck (it was). I have no such probl using OpenEcry platform.
 
Quote from chiefraven:

Would really appreciate it if anyone could clarify this part for me.
More...

Some of the candles to which you refer represent flaws (Hitch, Dip, Stall, etc.). Some of the candles to which you refer represent FTT's which turned into FBO's. You have chosen to use a specific chart used for a specific reason (one designed to show channel construction and not show FTT recognition), and now wonder why you cannot see answers to questions which the chart was not designed to address. Had Jack used the chart in the "Here is how to spot an FTT Thread" I'd imagine the same chart would contain different annotations. Make sense?

As to how to spot an FTT in real time, Volume (Gaussians) often tell the tale.

I hope the above provided the clarity you seek.

- Spydertrader
 
Chart for this morning.

Did not have too many problems to take 6 point or so out of the market but could have been much more. Still have problems with the start of the day. Obviously it was up because we ended with an FTT yesterday that was still intact. However, quite quickly we went south (taped FTT on ES that I didn't see or believe and at the same time YM had FBO on carryover channel). I missed all that until the next FTT.

Then I missed the 10:40 FTT quickly followed by FBO and another FTT and lost some points there. Also because price was dancing on RTL and because of this I started to have doubts about the channels and adjusting them. Still caught the right down.

regards,
Ivo

<IMG SRC="http://www.elitetrader.com/vb/attachment.php?s=&postid=1396749">
 

Attachments

Question for Spyder or Mak or anybody else who has been doing this for long time.(Jack too of course)

What do yo do when you go to the bathroom or have to take a short break? Close the position or put stops to get you out or stops to reverse ?

Thanks
 
my morning chart.
I was away from the desk, the annotation after 11:15 were in hindsight.

Did 4 trades in the morning, gross 11pts.
Family obligation cost me the major move, again. (Such as life.)
 

Attachments

Status
Not open for further replies.
Back
Top