Spydertrader's Jack Hershey Futures Trading Journal

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I never made any assertion that was intended to be negative lol, only that the bulk of the information is spread out over 2 or 3 journals and many related pieces of information is connected through multiple links. There are a few links with great definitions but the detail behind many definitions or clarifications are then in othe multiple linked posts.

The video and TUMS pics is a nice concise way to summarize the main info for review or as a good introduction. You forget you have been doing this for a couple of years and all the nuggets get spread out and sometime it is hard to find em for quick reviews or for beginners that want better grouped explanations.

Therefore, I recommend all review the video with Tums' pic for a great 40 minute re-cap.
 
Hey Spyder,

Yes, agreed, just so much info when reading through that sometimes one misses things. Big thanks to you for all your efforts :D




Quote from Spydertrader:

With all due respect, This Post was linked to from the first post of this Journal. Combined with This Attachment where both volatility expansion lines and BO's were labelled, I submit, you may have missed that which you assert didn't exist.

- Spydertrader
More...
 
We all have been at this four months now, and before moving forward, I wanted to take stock of where people stood. Without placing anybody on the spot, I'd appreciate it if we could once again temporarily digress to see how everyone's reality meets with their expectations.

How has everyone felt lately with respect to trading and understanding the market? You don't have to provide actual blotters, or execution reports, but I would prefer you gave an honest opinion. If people continue to experience some difficulties, I'd like to have those difficulties resolved before moving forward.

Specifically ....

How have your trades (real, simulated or monitored) go over the last week?

How do you feel during the trades? Anxious? Nervous? Ecstatic?

Can you 'see' the market as it unfolds?

Where do you continue to see difficulty, and where do you continue to see improvement?

Can you correctly use Channels, Gaussians and STR / SQU to correctly anticipate continuation or change?

and finally ....

How can I help, or what additional aspects need further clarification?

I realize this slight digression may once again take us somewhat off track with respect to the syllabus. However, I feel it is extremely important that everyone work through whatever difficulty they currently have before adding any additional tools.

Channels, Gaussians, ES, YM and STR / SQU should provide all the requirements needed for profitability. DOM, T&S and Tic Charts simply permit 'carving the turns' much closer to the actual 'signal for change.' In other words, The Fine Tools improve profits, they don't create profits where none existed. If we need to review of the fundamentals before moving forward, it simply makes better sense to do so now, rather than, later.

In past attempts at transference, the "wheels came off the cart" when fine levels tools found their way into the discussion. Many people started to think "If I only had one more tool, I could perform better." I cannot place enough emphasis on the fact that such thinking is incorrect and detrimental to one's overall success.

Before moving forward, I want to make absolutely sure everyone who wants to move forward should move forward. In other words, I want to make sure everyone has the fundamentals in place, and a strong, intact foundation, before we attempt to head further down the rabbit hole.

With that said, I look forward to everyone's honest input and critique of the process thus far.

Thanks in advance.

- Spydertrader
 
Hello;

As you know, I don't use the complete rule set. So perhaps I am not qualified to comment. Take it with a grain of salt.

Just using the rules for putting channels in place, and my own experience trading index futures, I see a significant change in my productivity as follows

Used to make approximately 6 to 10 ES points/day, 3 days/week. Of the other 2 trading days, one typically breakeven or small loser and the second a small loser. I define "small loser" as 2-4 ES points.

Putting channels in place I see the following benefits;

I see consolidation earlier and can decide whether to trade it profitably based on the channels in place. Also I "see" a trending market (BO) earlier and obtain better early trade entry. I define "better trade entry" as getting in early enough that I increase my per trade profit by about 30%.

Frankly I don't expect to add any of the other rules to my trading process. For me the question is "when is enough, enough?"

I do appreciate however, being able to finish my workday early and I do see a marked improvement in my daily profits, after only a few months.

Good luck
Steve
 
Quote from Spydertrader:
How have your trades (real, simulated or monitored) go over the last week?

- Simulated and real trades continue to improve dramatically.

How do you feel during the trades? Anxious? Nervous? Ecstatic?

- I would say the anxiousness has subsided as well. During periods of uncertainty I sideline until I "see" the market.

Can you 'see' the market as it unfolds?

- Better every day!

Where do you continue to see difficulty, and where do you continue to see improvement?

- My greatest challenge is letting profits run the channel until I see evidence of change. With previous trading methods I would sometimes let profitable trades turn into losers - that created a fear of holding. I'm slowly conquering that internal demon.

Can you correctly use Channels, Gaussians and STR / SQU to correctly anticipate continuation or change?

- Yes

and finally ....

How can I help, or what additional aspects need further clarification?

- Keep doing what you're doing. Your replies/explanations to posts are the most valuable tool for me.

John
More...
 
Quote from Spydertrader:


Can you 'see' the market as it unfolds?
...
Can you correctly use Channels, Gaussians and STR / SQU to correctly anticipate continuation or change?
..
- Spydertrader
More...
yes and yes except str/squ, I think it belong to the 'fine' class of tool set. I just keep watching it for now.
ps. ym leads es in case somebody need testimonial from non-expert people.
 
I went live about 3 weeks ago but my results were not consistent . Therefore I have spent the last 1.5 weeks just watching and working on understanding the theory and application of the method. This has helped me tremendously. I am starting to think and act correctly in my mind and see trades unfolding right before my eyes. I understand everything that you have taught us until now, and think my main problem is that I lack market experience. This will come in due time.

Thanks for all your help.
 
For those interested in NQ and this method I have been having some success using this on NQ.

Today I made 9 points on the NQ and today's total range so far is about 9 points so I cannot complain.

Went short pre-market before open based on where NQ was and carrry over from Friday. Covered a little quickly unfortunately at 4.50 points but another friend trading with me I had him covered at a BO of the down channel for the 6.75 points on the first move.

I did not reverse into the move higher but happily charted along with it and saw the entry. Its ok I did not grab it but I was happy to see it and blam myself for sitting on my hands too long.

When it dropped out of the upward channel on a breakout I went short again for another 4.50 points and covered at point 2 retrace because, I was off the the gym to enjoy the nice weather and the rest of my day.

So 9 points on NQ. Any market as long as there is liquidity and volume.
 
Quote from Spydertrader:

SNIP

How have your trades (real, simulated or monitored) go over the last week?

How do you feel during the trades? Anxious? Nervous? Ecstatic?

Can you 'see' the market as it unfolds?

Where do you continue to see difficulty, and where do you continue to see improvement?

Can you correctly use Channels, Gaussians and STR / SQU to correctly anticipate continuation or change?

and finally ....

How can I help, or what additional aspects need further clarification?

- Spydertrader [/B]
More...

I doing well trading one lots 2 or 3 days a week, and have posted a few snapshot days results earlier. Am running about 60% wins and most losses, when I'm awake are small. WHat I mean by awake, is paying attention to the charts.

I feel comfortable with channels and Gaussians. S/S: I am shaky.
Maybe if you could post examples of when to use and when not to use it. I'm seeing it better but probably am paying too much attention to it as it is the new tool on the block.

I don't feel comfortable with flaws, HVS, CCC etc as I thought these were for later in the year.

Thanks for putting in the time and effort to teach us.

Doug
 
Spyder-

Now that I am caught up with all the journals, and have been annotating the ES for 2 months, let me say thank you for your generosity.

My trades over the last week specifically have improved dramatically, as I am less anxious. Also, I managed to 'hold' when required as I could 'see' that I was in continuation and not change. This helped pull out some real winners last week and continued today with my first 'real' STR trade. I entered on the 10:10 bar today at 98.5 when I thought I had an FTT, quick glance at YM confirmed so I peeked at the STR/SQZ and I saw a nice tall blk bar confirming long entry. Up until now I never saw it quick enough or at the right time.

My difficulties are more with trade execution, I 'see' the trade but hesitate and then it starts moving, therefore I just observe and annotate until the next one appears. Another problem is not correcting my mistakes quicker and not 'washing'.

I believe I am using Channels and Gausssians correctly as I try and confirm my channels match the gaussians I see. I hope my posted charts proved beneficial to the journal. The STR/SQZ came alive for me today.

I would like to move forward with the next tool, but understand if I am not ready.

-Mike
 
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