Spydertrader's Jack Hershey Futures Trading Journal
- Thread starter Spydertrader
- Start date
- Status
(Note to Ezzy - hope ya don't mind my copy/paste of your layout. Thnx ... 
--- How have your trades (real, simulated or monitored) go over the last week?
Nothing earth-shaking, mind you, but modest, and more importantly to me, consistent sim results keep me coming back tomorrow!
--- How do you feel during the trades? Anxious? Nervous? Ecstatic?
I could probably write a small book on this one, but let's just call things anxious at this point.
--- Can you 'see' the market as it unfolds?
I definitely feel that I have acquired a better sense for price action/direction since beginning these studies.
--- Where do you continue to see difficulty, and where do you continue to see improvement?
My biggest difficulty lies in the area of trade execution, which I believe is an offshoot of continued uncertainties about proper Gaussian interpretation. That, and a feeling of not knowing how much wiggle room for entries should be allotted. I've seen marked improvement in my ability to correctly draw channels, and noting how price behaves within.
--- Can you correctly use Channels, Gaussians and STR / SQU to correctly anticipate continuation or change?
Sometimes yes, sometimes no to the first two, and haven't even considered Str/Sq yet, as I am a complete klutz at software tweaking. Sounds like plenty of time in May to address this situation.
and finally ....
--- How can I help, or what additional aspects need further clarification?
Boy, Spyder, you've left the door wide open here! (kidding).
I have wondered in the past if it would be too much to request seeing two levels of Gaussian annotations on your daily ES chart. Knowing how to assess the forest/gaussians and tree/gaussians can still be somewhat confusing here.
And as already hinted at, any means that you could come up with to allow us to "look over your shoulder" during a trading day would be extremely beneficial. However, we do also realize this is your full-time vocation, and that nobody cares to be bird-dogged while performing their daily tasks.
Just a couple quick thoughts concerning your decision for another month of review. Although I was beginning to salivate at the prospect of learning some tricks w/ the DOM and T&S, I believe we will all be grateful one day for your keen assessment of the group as a whole. We all have our strengths and weaknesses at this point, and none of us will be hindered by laying a couple more rows of block. Add to that your request for one person helping the next, and I don't see where we can go wrong. Everyone views the mkt through a unique pair of eyes, and once we all pitch in with our personal takes, the concerted efforts should provide even more ah-ha moments for all concerned.
Thanks again Spyder ... all the best ...
--- How have your trades (real, simulated or monitored) go over the last week?
Nothing earth-shaking, mind you, but modest, and more importantly to me, consistent sim results keep me coming back tomorrow!
--- How do you feel during the trades? Anxious? Nervous? Ecstatic?
I could probably write a small book on this one, but let's just call things anxious at this point.
--- Can you 'see' the market as it unfolds?
I definitely feel that I have acquired a better sense for price action/direction since beginning these studies.
--- Where do you continue to see difficulty, and where do you continue to see improvement?
My biggest difficulty lies in the area of trade execution, which I believe is an offshoot of continued uncertainties about proper Gaussian interpretation. That, and a feeling of not knowing how much wiggle room for entries should be allotted. I've seen marked improvement in my ability to correctly draw channels, and noting how price behaves within.
--- Can you correctly use Channels, Gaussians and STR / SQU to correctly anticipate continuation or change?
Sometimes yes, sometimes no to the first two, and haven't even considered Str/Sq yet, as I am a complete klutz at software tweaking. Sounds like plenty of time in May to address this situation.
and finally ....
--- How can I help, or what additional aspects need further clarification?
Boy, Spyder, you've left the door wide open here! (kidding).
I have wondered in the past if it would be too much to request seeing two levels of Gaussian annotations on your daily ES chart. Knowing how to assess the forest/gaussians and tree/gaussians can still be somewhat confusing here.
And as already hinted at, any means that you could come up with to allow us to "look over your shoulder" during a trading day would be extremely beneficial. However, we do also realize this is your full-time vocation, and that nobody cares to be bird-dogged while performing their daily tasks.
Just a couple quick thoughts concerning your decision for another month of review. Although I was beginning to salivate at the prospect of learning some tricks w/ the DOM and T&S, I believe we will all be grateful one day for your keen assessment of the group as a whole. We all have our strengths and weaknesses at this point, and none of us will be hindered by laying a couple more rows of block. Add to that your request for one person helping the next, and I don't see where we can go wrong. Everyone views the mkt through a unique pair of eyes, and once we all pitch in with our personal takes, the concerted efforts should provide even more ah-ha moments for all concerned.
Thanks again Spyder ... all the best ...
No problems here with delaying. The improvements I feel I'm making recently are so big that I would like to practice all the things learned for some more market days before adding anything new.
As requested I will try to post charts, explanations etc. of succesful trades as well as problems/losers.
regards,
Ivo
Hi,
I have gone through the first pages again and feeling pretty good about drawing the channels, FTT's, FBO's, BO's etc
Can someone point me to their fav post on explaining how volume relates to all this. I am still lost on how to apply volume. Is there a video like bundle's on channels for volume ?
I think one needs a good understanding on volume to catch the turning points, hold points and exit points......also it looks like volume is key for CCC, HVS, stalls, etc
Cheers
I have gone through the first pages again and feeling pretty good about drawing the channels, FTT's, FBO's, BO's etc
Can someone point me to their fav post on explaining how volume relates to all this. I am still lost on how to apply volume. Is there a video like bundle's on channels for volume ?
I think one needs a good understanding on volume to catch the turning points, hold points and exit points......also it looks like volume is key for CCC, HVS, stalls, etc
Cheers
Spyder,
While I was kinda of hoping we would be moving on to some new tools, I can't argue with your logic. You can never go wrong laying a solid foundation of the fundamentals. I have been posting my charts, but I will also try to post some comments/questions with them as well to help foster discussion and transference. Thanks.
While I was kinda of hoping we would be moving on to some new tools, I can't argue with your logic. You can never go wrong laying a solid foundation of the fundamentals. I have been posting my charts, but I will also try to post some comments/questions with them as well to help foster discussion and transference. Thanks.
Spyder:
I appreciate the choice to focus on fundamentals as one can never spend TOO much time on the foundation. I am always reading different option trading books and I ALWAYS glance or read through the first chapters on option basics even though I should know them backwards and forwards by now. I do it cause I am always curious to see if the author has a different perspective or approach to showing the basics and also to reinforce that I know what I know. I never think of it as a waste of time.
Same would apply here, the spending of another month of hammering the basics is important. Can anyone here truly say they have MASTERED the basics of channel and volume. Honestly if you have, you would not need any other tools in my humble opinion.
My approach is that I really only need channels and volume to trade and have not really used STR/SQU. I am sure more tools can add finer resolution but it can also muddy waters that channels and volume often make quite clear. So I would think many should temper their DESIRE for more tools and more gadgets as they are simply meant to add some detail to the basics. I am CONVINCED that one can trade solely with channels and volume with an additional understanding of flaws and such which are outside of normal expectations.
I am only using channels and volume and already seeing great improvement in entries and exits. My final profit total has increased but not significantly due to my own flaws of getting out too soon on moves or my natural schedule of not being able to follow the market all hours of the trading day.
I too will start posting more charts and I honestly think that if Spyder stopped at the end of MAY with one more month for flaws that it would be more than enough for everyone to trade. I think adding DOM, tick charts, STR/SQU, etc. for many will lead to deer in headlights.
So before the desire for more tools hoping each tool will fix the problems you are having with the basics, know that mastering the basics alone seems to be more than enough to trade off of.
Thanks to Spyder and others who provide nice detail to understand. From my own experience and from other posts, I think VOLUME is the most misunderstood building block in this approach. Sure people fret over FBOs and FTTs, but it all winds its way back to volume.
So my suggestion is that a major part of the review focus on reading volume.
I appreciate the choice to focus on fundamentals as one can never spend TOO much time on the foundation. I am always reading different option trading books and I ALWAYS glance or read through the first chapters on option basics even though I should know them backwards and forwards by now. I do it cause I am always curious to see if the author has a different perspective or approach to showing the basics and also to reinforce that I know what I know. I never think of it as a waste of time.
Same would apply here, the spending of another month of hammering the basics is important. Can anyone here truly say they have MASTERED the basics of channel and volume. Honestly if you have, you would not need any other tools in my humble opinion.
My approach is that I really only need channels and volume to trade and have not really used STR/SQU. I am sure more tools can add finer resolution but it can also muddy waters that channels and volume often make quite clear. So I would think many should temper their DESIRE for more tools and more gadgets as they are simply meant to add some detail to the basics. I am CONVINCED that one can trade solely with channels and volume with an additional understanding of flaws and such which are outside of normal expectations.
I am only using channels and volume and already seeing great improvement in entries and exits. My final profit total has increased but not significantly due to my own flaws of getting out too soon on moves or my natural schedule of not being able to follow the market all hours of the trading day.
I too will start posting more charts and I honestly think that if Spyder stopped at the end of MAY with one more month for flaws that it would be more than enough for everyone to trade. I think adding DOM, tick charts, STR/SQU, etc. for many will lead to deer in headlights.
So before the desire for more tools hoping each tool will fix the problems you are having with the basics, know that mastering the basics alone seems to be more than enough to trade off of.
Thanks to Spyder and others who provide nice detail to understand. From my own experience and from other posts, I think VOLUME is the most misunderstood building block in this approach. Sure people fret over FBOs and FTTs, but it all winds its way back to volume.
So my suggestion is that a major part of the review focus on reading volume.
A bit late, but here are my responses.
How have your trades (real, simulated or monitored) go over the last week?
- I've discovered I have a tremendous problem with QCHarts significantly lagging the market. I'm currently looking into some other software solution. Otherwise, I can trade pretty well in fast or extreme paced markets, but have much more trouble with anything slower (plus I get bored).
How do you feel during the trades? Anxious? Nervous? Ecstatic?
-Ecstatic at times when I call an FTT within a couple of ticks, anxious when I'm less sure and the market moves away from my position. I'm often correct in my reading, but 2 or 3 bars early, and that can cause a lot of heat.
Can you 'see' the market as it unfolds?
-At times, remarkably clearly (better on entrances than exits). This is clearly improving with practice. I keep in mind how many daily stock charts you must have annotated before turning to realtime futures...
Where do you continue to see difficulty, and where do you continue to see improvement?
-I often get in too early, then exit and then don't get back in when the move actually occurs. I also have trouble with medium and slow markets because they often seem to drift for a long time and move significantly in a one-bar spike; this often seems like it could go either way.
Can you correctly use Channels, Gaussians and STR / SQU to correctly anticipate continuation or change?
-I'm good on Channels and Gaussians within the pace limitations outlined above. I haven't been using the Str/Squ much as I haven't found QCharts reliable enough in NOW (from my location) and haven't figured out Mak's tool.
and finally ....
How can I help, or what additional aspects need further clarification?
Well, you're doing a great job as is, and I think your pedagogical strategy of letting people confront the material/tools on their own and then responding in detail to specific problems/questions is excellent (if a bit frustrating for those who'd like it all outlined in advance).
One thing that might be a very useful resource at this point would be a (short) Camtasia of your screen with your voiceover comments. Apart from seeing when you annotate, and hearing your reading of what you see as it happens, this would also help in getting a sense of how often to sweep, etc. I seem to oscillate between constant sweeps (which does little but create anxiety) and getting tired of it and not sweeping often enough. Needn't be long, perhaps just of the opening bars...
Hope this helps.
How have your trades (real, simulated or monitored) go over the last week?
- I've discovered I have a tremendous problem with QCHarts significantly lagging the market. I'm currently looking into some other software solution. Otherwise, I can trade pretty well in fast or extreme paced markets, but have much more trouble with anything slower (plus I get bored).
How do you feel during the trades? Anxious? Nervous? Ecstatic?
-Ecstatic at times when I call an FTT within a couple of ticks, anxious when I'm less sure and the market moves away from my position. I'm often correct in my reading, but 2 or 3 bars early, and that can cause a lot of heat.
Can you 'see' the market as it unfolds?
-At times, remarkably clearly (better on entrances than exits). This is clearly improving with practice. I keep in mind how many daily stock charts you must have annotated before turning to realtime futures...
Where do you continue to see difficulty, and where do you continue to see improvement?
-I often get in too early, then exit and then don't get back in when the move actually occurs. I also have trouble with medium and slow markets because they often seem to drift for a long time and move significantly in a one-bar spike; this often seems like it could go either way.
Can you correctly use Channels, Gaussians and STR / SQU to correctly anticipate continuation or change?
-I'm good on Channels and Gaussians within the pace limitations outlined above. I haven't been using the Str/Squ much as I haven't found QCharts reliable enough in NOW (from my location) and haven't figured out Mak's tool.
and finally ....
How can I help, or what additional aspects need further clarification?
Well, you're doing a great job as is, and I think your pedagogical strategy of letting people confront the material/tools on their own and then responding in detail to specific problems/questions is excellent (if a bit frustrating for those who'd like it all outlined in advance).
One thing that might be a very useful resource at this point would be a (short) Camtasia of your screen with your voiceover comments. Apart from seeing when you annotate, and hearing your reading of what you see as it happens, this would also help in getting a sense of how often to sweep, etc. I seem to oscillate between constant sweeps (which does little but create anxiety) and getting tired of it and not sweeping often enough. Needn't be long, perhaps just of the opening bars...
Hope this helps.
- Status