Spydertrader's Jack Hershey Futures Trading Journal

Status
Not open for further replies.
Quote from PointOne:

When you said you were in the red, I thought you meant you were in the red. My mistake.

P1
More...

Just to clarify a bit about being in the red. What I meant was that I might have been briefly in the red after my entries because I know my entries and exits should have been better.

Note my use of 'I might'; I honestly don't know if I was infact in the red or by how much. All I knew was my position was either LONG or SHORT and change/no-change determined what I did.

If I had paid attention to my entry price, I would have probably had more trades doing washes. Instead I am trying to stay on the right side of the market.

I am doing the simming so that I can debrief my decision points and to see what other areas I need to improve on.
 
Quote from ivob:

I noticed the same. The market will give it all to you but you have to be in it. (on the right side preferably :-)

regards,
Ivo
More...

The last few days have been pretty unusual. You have to be in to catch all the big moves alright but many days do not have big moves. The experimenting I did with in all day was pretty disasterous and I think it requires some skills that are not easily attainable. It is the final stage of this whole process. If the volatility stays like it is now the big moves will certainly take care of the mistakes but I dont expect this to last. I am entering on point threes with the intention of eventually entering on ftt's but I want to see steady sustained profits first. Maks admonition about building upon success sticks in my mind.
 
Quote from Bearbelly:

The last few days have been pretty unusual. You have to be in to catch all the big moves alright but many days do not have big moves. The experimenting I did with in all day was pretty disasterous and I think it requires some skills that are not easily attainable. It is the final stage of this whole process. If the volatility stays like it is now the big moves will certainly take care of the mistakes but I dont expect this to last. I am entering on point threes with the intention of eventually entering on ftt's but I want to see steady sustained profits first. Maks admonition about building upon success sticks in my mind.
More...

Hello,

I agree completely. Because we are learning now we should not think the market is always as it is right now. We should not think or assume anything but just catch the FTT's and point 3's and let the market go.

One thing that is hard for me is that sometimes one can hardly notice the (taped) FTT and a big move follows. I mean I am thinking, okay, tape breaks, retracement let's wait for point 3 but there's a complete reversal and I miss it. Obviously at a certain moment I should have let go the thought of looking for this point 3. You just have to know what to look for and when. (what's next is the big question) Only then it's easy to see. If you're looking for the wrong thing you'll not find the right thing to do.

Other times there's an obvious FTT and before we are able to take one point or so everything turns around again. Sometimes fine resolution seems the best and other times we have to look at the big picture again. Sometimes there's a 1-2-3 setup on two bars and sometimes it takes 6 bars. etc.

I will stay with just entering on point 3's for now and I will also stay with simtrading for a while (despite all posted gains here) until I know I have a better feeling for all of this.

regards.
Ivo
 
ivob

It has been my experience that there is at least one ideal, obvious point three every day so I dont worry about missing one. If in doubt, sit out, is my motto. If I can catch one a day I think I will do very well. Yesterday I got two. Usually I just get one because as I stated yesterday I have a problem taking another trade when Im sitting on a profit but my confidence in these trades is growing steadily.
 
Quote from Pr0crast:

I think you misunderstood. In the forest trading rules, we HOLD through the nondominant retraces and our action points occur on RTLXO's and PT3's. FTTs and flaws do not enter this picture EVER, so whether or not I can identify forest FTTs blindfolded has absolutely nothing to do with anything but TREE trading which I assume is what you speak of :). Surely I am not in the red as price ascends from PT3, for if I was I would most definitely be on the wrong side of the market. By "in the red" I am talking about realized profits as I exit or reverse. Surely you can see that if a channel is weak, not very long, and not very steep, a profit is not guaranteed on the forest trade. This is what I am talking about. This, and watching some of our profits slowly dissipate over the retraces is an unavoidable part of forest trading that provides clear motivation for learning the ways of tree-trading. But nevertheless, sustaining a small -0.5 pt loss on a weak forest trade is a small price to pay to catch the 15 PT moves of today's monster forest trades.

I hope that provides some added clarity to my statement.
Many of us have gotten to the point where our logging and annotations are great, but we still need practice on staying at whatever level we intend to (forest, tree, leaves, bug, etc) without inadvertently hopping back and forth. For now, I have chosen the forest, with an ever so slight discretionary sprinkle of trees. Nailing this with discipline is where the simming comes in.
More...
Indeed, especially for those of us who has prior trading experience, we need to focus on learning to trade at the tree level, and not to get ahead of ourselves.
 
Quote from Jander:

anyone running mak's prv/str/squ for IB? Having trouble getting this to work, possibly because of the new build?
More...

I am using PRV with the latest build and its working ok. Not currently using str/sq.
 
Quote from Jander:

anyone running mak's prv/str/squ for IB? Having trouble getting this to work, possibly because of the new build?
More...
no hurry. A new version is coming.
Spyder/Mak will give instructions when we arrived at Str/Squ.
 
My chart for this morning.

WOW... It's so relaxing to be in the market knowing you are on the right side. It doesn't have to be the current bar that gives you the points, it can be the next one, doesn't matter, the market is giving money to you as long as there is no "change signal", you're on the right side and it's moving. I don't even know when I got in most of the time.

Very happy with my performance so far. No impatience greed or fear. Taking action on the right moments, catching almost all FTT's. No removing and replacing lines. Relaxed as it should be.

Just the start was a little hard IMO. At first I thought we had a breakout of carryover channel. Then price went back in so it was an FBO immediately followed by an FTT. This FTT moved price out of the channel and the next bar showed strong red volume. So this was a breakout of carryover channel. Price goes up on what seems to be a retracement (decreasing volume) so we wait for our point 3 to go short. Point 3 never came which became evident after a little while. YM showed us direction was up. We had increasing black volume. So instead we wait for the up channel to make a high (pt 2). Then price went down somewhat during 4 bars and we had our point 3. The rest was very clear. Patience is needed at the opening and VERY sharp analysis (YM never got back in yesterday's channel, maybe that was a clue with respect to the opening)

regards,
Ivo

<IMG SRC="http://www.elitetrader.com/vb/attachment.php?s=&postid=1398277">
 

Attachments

Status
Not open for further replies.
Back
Top