Spydertrader's Jack Hershey Futures Trading Journal

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Here is an example of different Gaussians on different resolutions. Notice the B2B on a lower resolution inside the R2R of a larger resolution.

I know this is a finer resolution than we are looking at right now, but thought it shows what can happen between the 'Forest' and the 'Trees'

-Mike
 

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Please share my mistakes in trading ES and hope you won't repeat them:

1. At 13:14 short @1445.50, didn't reverse it at 13:15 for long.
or, had I held it through the congested area and exit at 14:20, I would have made 1/2 to 1 point instead of minus 2 points.

2. Didn't enter for long soon after 14:20, price was 1444.25+-while the price bar touch the LT and bounced up trend, eventually BO the RTL at 15:20 with decreased volume and price was 1449.75. MO 4pts+.
 

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I did not get to trade much today but I did go back to study the charts and practice. I decided to just look at the bigger picture and noticed the nice red channel that formed off of the Points 1,2 and 3.

Some things which is not of interest to the majority but some might find it interesting:

1. We are heading into Monday's open on a downward channel in the bigger downward channel. At the open I am going to look for a FTT/BO or continuation for trading.

2. Interesting on a rangebound day, the market trading between the Pivot Point and S1 which is the yellow and red dotted line. Pivot points usually are reversal points so if the market bounces off of one and heads to the other (as in 2:30 point 2 to 3:30 Point 3). It could help anticipate the change in the channel direction and maybe start looking for volume clues and channel FTTs as it hits the pivot. I know Spyder has Pivots on his chart but does not refer to them and maybe it could be covered, but sometimes they are a target and one can watch for signals as the target is hit for FTTs/reversals.

3. For those who follow candlesticks, it should come as no surprise that reversal type candles such as hammers occur at points that are also labelled as FTTs. For example, the Point 1, 2 and 3 on my chart of the red channel occur at hammer/doji type reversals. (if you do not follow candles then please ignore instead of a rant reply).

4. This may be covered but I noticed that the channels got narrower as time progressed through the day. (except for that one volatility expansion I noted). I wonder if there is some clues to the channel ranges compressing or expanded with each directional change. Something to think about when looking at the big picture for the day.

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Quick comment, you seemed to have gone short on the volatility expansion out of the downward channel. On the next bar the market moved back into the channel and closed inside the channel at 1446.50 or so. That, I believe and others can correct me, makes it a FBO and when it goes back into the channel you can close/reverse and it would have been a 1 point loss only.

Also, you made a mistake I often made before, jumping in at the absolute end of a long bar/candle. If you missed the breakout that started the move, then do not chase and jump on the bar after it has made a long move. Watch the price action and wait for another point to enter or look for a reversal. I think the fear of missing the big breakout made you jump in at the end of the move of that one bar and not maybe see the overall channel and price action.

if you miss the initial move, then watch and wait for a better opportunity which always comes along.

Sorry but thought this would be useful.

Quote from bucherwin:

Please share my mistakes in trading ES and hope you won't repeat them:

1. At 13:14 short @1445.50, didn't reverse it at 13:15 for long.
or, had I held it through the congested area and exit at 14:20, I would have made 1/2 to 1 point instead of minus 2 points.
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