Spydertrader's Jack Hershey Futures Trading Journal

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Quote from ramora:

Will you start to discuss the DOM next week? Is there a new tool for May?
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The next tool on the Syllabus is the DOM. I do plan to begin to discuss this tool next week unless people feel more time is needed with the current tool set. Nothing says we can't delay the DOM discussion as we did with STR / SQU. I built plenty of stack into the Original Lesson Plans. :D

- Spydertrader
 
This is my first post. I started reading this thread in February and have finally finished the first 500 pages. I have reread the first 300 pages and the January and February monthly review at least twice. There is a wealth of information here. First I would like to thank Spydertrader for his time and effort. INCREDIBLE. This is an excellent thread. I would also like to thank all of the other participants who through their questions, discussions and posting of charts have helped me take that first step in understanding SCT.

I have started annotating charts and monitoring price and volume on the 5 min ES and more recently on the 2 min YM. My level of understanding is at a very elementary level. I find myself repeatedly returning to my notes and the first pages of this journal to insure that I have a basic understanding of the key concepts.

I will try to post my chart from today. Any comments, criticisms or corrections are welcome.

If anyone is using Esignal for their data feed could you please explain how I would manually scale the price data on my chart. Thanks.

PCT
 

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Quote from Spydertrader:

1. Add your 20 SMA. Doing so shows why your Point Two turned into an FBO of the Red Down Channel. The 20 SMA often acts exactly like a trend line in wider Price Channels.
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This was a good example for using the 20 SMA. Without it you were kinda hanging out there as the carry over channel was far away and the current up channel was widening.

I've resisted putting it in, having gone cold turkey on all indicators to focus on PV, Channels and Gaussians. It's going back on the chart now.

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OT: The MA being a price based indicator, if you throw up a 10 period RSI (1/2 cycle) you'll notice the 50% crossover concurrent with the price crossing the 20SMA; along with typical oscillator and divergence stuff. So when looking at the SMA on a chart, I see oscillator stuff, OB/OS. Such is the life of a recovering indicator addict. :D

-EZ
 
Kudos to Bundlemaker for his channeling for beginners video. I have been reading I dont know how many pages of fluffy chats with nuggets buried in them and finally found bundle's video linked above.

Just 45 minutes taught me as much as a couple of hundred pages and everyone should be required to watch it 2x before starting channels or asking questions LOL...
 
I have been following this journal since its inception in January. Perhaps today was the first day that I was able to integrate most of the material presented here into one cohesive framework. Here are the results of my sim trades on IB.

I chose to trade YM because this is an instrument with which I'm most comfortable. As Spyder has stated many times, this methodology is applicable to any market at any time provided that it has sufficient liquidity. YM certainly meets this criteria. :)

IB Paper trade results:

L 13124 13148 24
S 13149 13123 26
L 13126 13150 24
S 13148 13142 6
S 13162 13157 5
L 13155 13163 8
S 13163 13158 5
L 13156 13167 11

Total 109

Please see the screen capture of the IB's Execution page for more details.

Much like a few others on this journal, I plan to continue with sim trading for sometime before I execute actual trades.

For the record, I have been reading JH's usenet posts since 1999. Words can't describe what Spyder has been able to do with all of JH's teachings!

Best wishes and good trading to all.
 

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