Spydertrader's Jack Hershey Futures Trading Journal

[jack hershey]

Quote from Ezzy:

Wanted to post a tough afternoon section (for me at least ) and break it down.

I drew in the green 1 weight channel and the channel expansion. This is a starting point and lets use it.

The FTT of this green channel AFTER the expansion let us draw a grey leateral channel (in yellow) This is not a 1 weight.

Greys follwed on the BO of the grey channel. Why am I doing this. It is because , if I had an automated program simply written , this is what I would get. Greays give us two (adjacent) simple representations for what can be built (The Legos of trading)

You see the red 1 weight channel come out of this. This gives us the potential for and FTT in the red.

The red FTT occurs.

We have now, on the forest level, traded from the green FTT to the red FTT and we are long again as a consequence at point one of the next 1 weight channel.

This is not a tough time and we are making money and in on the right side of the market and leading up to the next comment posted.

We are also now on the ym chart and the first thing there is to get the greys going (Lego it up)

Frome these greys we get a green 1 weight channel.

See the attachment.

At 14:50 it looked like an FTT on the ES, was clearer on the YM. Change

15:00 Everything looks fine and declining red on the YM. Non-dom retrace but also looking for a #2.

15:05 There is a tape BO on declining volume on the ES. YM had a bump in volume but a couple were DU volume so I thought hold. Watch for #3

15:10 We get increasing black. Now I'm thinking continue. Starting to really worry and think wash and reverse. But the volume is much lower then the previous peak. So lots of questions here. Looks overall decreasing black, but it's going against me.

15:15 By now the YM has put in a possible point 3 for a lateral. The ES follows suit. We get declining red on the YM. I'm watching for increasing black. During this bar I'm thinking lateral. Hold?

15:20 Have a tape up. But also the lateral channel. I've realized I lost sight of the Forest and trying to work it out. Looks like a stall on the ES. YM has a down tape.

15:25 As we walk sideways for several bars I realize we're working toward the RTL on the ES, the non-dom retrace as when we started 14:50.

Kinda lost track of the forest because the short term action between the TL's sucked me into the leaves. I'd be interested to hear how others viewed the action during that period.

Regards EZ

 

[jack hershey]

Quote from Ezzy:

Wanted to post a tough afternoon section (for me at least ) and break it down.

At 14:50 it looked like an FTT on the ES, was clearer on the YM.

We reversed into a long at 14:35 or so (there was about 10 minutes to make this decision on the ES.) The first two bars on the YM nailed it for the reversal on the ES.

I am going to tinterrupt this with a post to respond to another post. the thene is how trading goes in this journal.

So at 14:50 we are annotated we are long and we have a point 2 that we were looking for.[/color]

The idea here is to lego with greys; put in points to get a channel; draw the channel; then look for an FTT; reverse on the FTT

color=green]Our status is clear all the time in NOW.[/color]

15:00 Everything looks fine and declining red on the YM. Non-dom retrace but also looking for a #2.

15:05 There is a tape BO on declining volume on the ES. YM had a bump in volume but a couple were DU volume so I thought hold. Watch for #3

15:10 We get increasing black. Now I'm thinking continue. Starting to really worry and think wash and reverse. But the volume is much lower then the previous peak. So lots of questions here. Looks overall decreasing black, but it's going against me.

15:15 By now the YM has put in a possible point 3 for a lateral. The ES follows suit. We get declining red on the YM. I'm watching for increasing black. During this bar I'm thinking lateral. Hold?

15:20 Have a tape up. But also the lateral channel. I've realized I lost sight of the Forest and trying to work it out. Looks like a stall on the ES. YM has a down tape.

15:25 As we walk sideways for several bars I realize we're working toward the RTL on the ES, the non-dom retrace as when we started 14:50.

Kinda lost track of the forest because the short term action between the TL's sucked me into the leaves. I'd be interested to hear how others viewed the action during that period.

Regards EZ

 

[jack hershey]

Quote from Bearbelly:

I would like some input on the best way to progress here.

I'm going to give you some input.[color]

It is my understanding that you should be making cash money on a fairly consistent basis using only the 5 min ES chart with channels, volume and prv before moving on.

What people are doing in this journal is working. They are following a syllibus that was laid out at the start and there have been acouple of modifications to it.

Those that are working are NOT blending what they are doing with other fandangos of any kind. From your posts I understand you are cutting and paste what you choose here and there into what you have been doing for an assortment of resons that you have stated.

the deal here in this journal is to learn and DRILL what is being done at the time of the year it has been planned to do these drills.

The reason, oft started is that a person may read and get knowledge and skills, he thinks, but there is no way to get experience except by doing the time. A person does time very purposefully and with all the potential he possesses to "get it"

You just watch and annotate the 5 min.

There is no just. What was done in January was learning to annotate by drilling on every bar of every chart day after day. It is on the 5 min ES chart that shows P and V.

You then sim the 5 min until you get consistent results.

There is no concept of "consistency". what is going on purposefully is working hard in a determined way to get down by drilling the understanding of what the market is offering. Logging what is being done is essential. You log what you see to do according to a rules set.

You then trade the 5 min realtime. When you become proficient at this level THEN you move to the next level.

People are working together doing the same thing that is onthe table in the schedule. There is a possibility that some people have entered late or they did not take seriosly the aspect of working or the aspect that there is an experience component that involves drilling on the topic at hand. We are working here to have a group of people working on the same thing at the same time.

Mak burned this into my brain awhile back and it makes a great deal of sense to me. In the chat room there are a number of people simming with everything up to and including stretch and squeeze without ever having made a dime and I cant help but feel that this is a huge mistake.

there are people who do "assessing". They are assessors. They are not learning; they are not working either. They are not experiencing doing the drills. This is fine for them to do.

Rules for doing the parts of MADA were set up very early. And notably they are there to make money.

The SCT is designed to make money by extracting money from the markets as a pool extraction paradigm. The "feelings" set associated with it is not the same "feelings" set associated with the conventional orthodoxy, sometimes called "standard orthodoxy" (Lo, et al, 2005; shull, 2007). The feelings we find that come into the fore when work is done to drill on the succession of topics and to the exclusion of other, sometimes conflicting beleif systems are: support, comfort and confidence.

Having jumped ahead several times over the course of this thread I understand where they are coming from but I did realize that I was making a mistake and backed up all the way to the beginning again.

This is an example of YOU, perhaps, finsihing up the assessing role you have been playing for quite a while. you may have determined that you are behind the curve as well. that may come later, even.

More is not neccessarily better if you are not equipped to handle it.

The amount of whatever and the potential of a person, any person, is not on the table. A very wide spectrum of people can and are doing this work and they are following the process. The potential of a person to do what is required in a purposeful way has never been an issue. The absolute guarantee of not getting the job done is one and only one thing: doing the work in a purposeful manner. This is prevented by many many things. A choice is made at some point by any person of any potential. That chioce simply and definitely orients the person to work purposefully. YOU may make that chioce sometime.

Jack has mentioned that the one minute is way too hyper and I cant help but feel, after watching the 2 min ym for quite awhile that it, too, is too hyper if you are not prepared for it.

Watching is not the subject of this schedule. the subject is working. Part of that is monitoring. There is no preparation required to work, do the drills, and get results. The results are knowledge, skills and experience. We transfer knowledge and skills. We do not transfer experience. That is acquired by working purposefully. If I asked a person to post every thursday's chart for three years, then I would get 150 or so charts and I would see the work progression. I could not imagine they would miss a thursday unless they were on vacationspending some money somewhere.

People are not going to the 2 min ym from the 5 min for clarification but rather watching the 2 min and then going back to the 5 min.

try very hard to get out of your mind what others are doing if this is the result you are getting. There is a thing called sweeping. You are not describing it at all. you are in a differnet world with this comment. My recommentdation to you is to work. work hard to get what is going on straight.

Going back to the 5 min only has slowed things down considerably for me and I am doing better.

YOU can do two things: Do mada and do sweeps in the M of MADA. there is a rubber band part of this that lends CONTINUITY and EFFECTIVENESS and EFFICIENCY. I have worked on SCT for a while. It stems from sufficiency. (See Info-gap decision theory (particularly contraction) and particularly, the Equity Premium: A Solution, Ben-Hiam, 2006, etc.).

People who are invested in the SO, are subject to freakout caused by feelings which prompt them to act on single element data sets. YOU cannot just forget anything but instead, YOU have to build a wall around your consequences that you decided to get. the symptoms you avere are SOP in the progression sited first above (Lo, et al).

The wall is built primarily by your subconcious input as has been explained to you ad nauseum.

This journal is NOT devoted to "the cure". It is devoted to building minds to excell in a manner that is going to bear fruit for others who have an array of problems.

I am posting this, not to criticize, lord knows Im one of the worst about jumping ahead, but to try and get others to keep from burning out before they ever get a grip on this thing.

No one is going to burn out. That symptom is not present in the consequence of making a chioce to work purposefully. Et has many protectors who protect the unaware from the assortment of things that others need protection from. This is one of your continuing roles, we see yet again.

What is happening here is that a new paradigm is being introduced successfully and on a basis, purposeful work, that get a result that has ben demonstrated for quite a while. Naturally, it is wise to filter out people who have no intention to do the work.

Many people have become aware, at thsi point, that every time another shell of the onion is introduced, this is going to inflame past feelings. These feelings come from the person using a non solution previously that the new onion shell DOES provide a solution for. It is quite and expersince to finally see a solution coming to be in hand that was not possible before. Assessor types get to have this feeling quitee often.

Were I you, I would not worry about others casually or otherwise. Be an example instead by posting every day the work you did during the days. Chart and annotations are nice. Logs that show dataset collections and the MADA sequence documented are better. The walk stuff. Questions help others to formulate their concerns.

 

[jack hershey]

Quote from Ezzy:



snip... see prior posts

We see below a comment on every bar. the comments provide a narrative but they do not include greys, getting channel points. There is a comment, at last, about the trade that is on.

Any time you are not ahead of the curve, you sideline and do annotating until you are back ahead of the curve. Here there was no intention to get control of the ball park. you can always start with greys.

15:05 There is a tape BO on declining volume on the ES. YM had a bump in volume but a couple were DU volume so I thought hold. Watch for #3

15:10 We get increasing black. Now I'm thinking continue. Starting to really worry and think wash and reverse. But the volume is much lower then the previous peak. So lots of questions here. Looks overall decreasing black, but it's going against me.

snip....

Lets work on the chart.

We had point 2 and then the grey non dominant traverse.

We are holding to the next FTT to take an action (reversal).

First comes point 3 quite nicely. We are pleasantly holding as we annote the new grey dom beginning.....

We are sitting for three bars to get the FTT. the same nice solid peaking value keeps coming up.

The trader in us can take the trading action to reverse (short) and then look for ....point 2.

It turns out to be along search.....

So what about the final exit for the day? Nine bar bottoms hit the same price one tick above the grey. This is the exit from the short we took on at FTT.

I left all the old annotations in so there is a comparison with my additions.

 

[Ezzy]

YOUR TOUGH AFTER NOON STARTED AT THE LEFT SIDE OF THE es CHART OR BEFORE

The tough time actually started around 15:00. Up to that point everything seemed to be going as expected.

At 13:10 we had the afternoon BO, then a FBO, which happens often so it was anticipated. At 13:35 we had an inside bar, prices started stalling, decreasing black and we went sideways. So I expected walking out to a point 3 or retrace to point 3.

My annotations were pretty bad, especially on the YM. I'll get that in order. In hindsight I probably should have posted more of the charts instead of squeezing them together for posting.

Thanks for taking the time to walk through this. It's very helpful.

Regards - EZ

 

[Bearbelly]

I have been annotating the charts for awhile now but have not been posting them as theres seems to be quite a few as it is. I can do so if it is required. I am logging on a spiral notebook and am not sure how to post that but will figure out a way if that is also a requirement. Whatever you may think, my comments were posted out of empathy because of the frustration some people are expressing. I think they are taking on too much too soon but what the heck do I know.

 

[jack hershey]

Quote from Ezzy:




snip.....

Below is the rest of the posy. It is a commentary on bar action and not on the greys, points and the channels and their FTT's.

this kind of commentary and thinking maybe, has to be subbordinated to the taking of data sets (their components) and what the MODE is on each sweep.

If you were noting continue or change, then you would bee making use of what you are monitoring and the conclusion associated with the data set.

After you know the MODE you then know the decision.

Review the annotating and fill in a log of the sweeps of the new annotation.

Also put in approximate values of the actions that precipitated the profits going form FTT to FTT.





15:15 By now the YM has put in a possible point 3 for a lateral. The ES follows suit. We get declining red on the YM. I'm watching for increasing black. During this bar I'm thinking lateral. Hold?

15:20 Have a tape up. But also the lateral channel. I've realized I lost sight of the Forest and trying to work it out. Looks like a stall on the ES. YM has a down tape.

15:25 As we walk sideways for several bars I realize we're working toward the RTL on the ES, the non-dom retrace as when we started 14:50.

Kinda lost track of the forest because the short term action between the TL's sucked me into the leaves. I'd be interested to hear how others viewed the action during that period.

Regards EZ

Okay that is the series.

I commented to bearbelly between a couple of these.

what we are doing now is logging several part of the display to have a data set the give a MODE.

you log the MODE result

And then you log the decision

the Action is logged aftr the decision and you have completed the MADA routine.

By doing a logging of the M, which is the data set, that keeps you straight on the greys, points, channels and FTT annotations.

here you see that the chart and the logging go hand in hand

there is no place on the log for the commentary we saw in the original posting of the tough time.

So my posts are not to chide you (including bearbelly) but they are to achieve defining "purposeful " work.

as you drill you get to be effective and efficient. a lot of people are coming into this from other orientations. Building the walls around where you came from is an unconcious process.

You will actually feel it happening most when you start your day.

You can see this in your diaries too. they will be something to read five years from now.

The doors that need to be closed get closed all by themselves. do drills to better let them be closing.

a little tired here...gotta go

 

[nkhoi]

Quote from CFerret:

Hi everyone,

Could those who know please tell me on what pages of this thread can i find Feb and March archives like that one for Jan on page 130?

Thanks in advance!

Janis

email Pr0crast, he made them.

 

[mephistoII]

Quote from CFerret:

Hi everyone,

Could those who know please tell me on what pages of this thread can i find Feb and March archives like that one for Jan on page 130?

Thanks in advance!

Janis

CFerret - I can help ya with some of this - go to pg. 264 and locate PrOcrast's post where he provides links to Vol. 1 (January) and Vol. 2 (February).

Perhaps I missed it, but I do not recall seeing a recap for the month of March yet.

 

[Ezzy]

Quote from jack hershey:
snip . . . Blue will be confirmations of something done correctly that you need to keep doing to build experience.

LOL, I noticed there were no blue notes. Oh cr*p! :eek: