Spydertrader's Jack Hershey Futures Trading Journal

Status
Not open for further replies.
My typical trading day annotated with time of trades and thoughts. I am not quite lost but I have a tendency of overtrading and over thinking.

I got the date right this time.
:D
 
is this a stall or the first part of R2R seq?
HVS.gif
 
Quote from nkhoi:

is this a stall or the first part of R2R seq?
More...

It's an FTT on one end and an FBO on the other end.

<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1453450>
 

Attachments

Quote from Razor:

Another thought just popped into my head that I need clarifying on.
More...

Both channels in the first link represent FTT's. It doesn't matter how many times Price bounces off the left trendline, we still have an FTT.

Yes, the yellow channel had an FTT as you have marked it.

- Spydertrader
 
Cheers :D



Quote from Spydertrader:

Both channels in the first link represent FTT's. It doesn't matter how many times Price bounces off the left trendline, we still have an FTT.

Yes, the yellow channel had an FTT as you have marked it.

- Spydertrader
More...
 
ES 1 May 07

One trade L 14:20 @ 89, exit 14:42 @ 92.50

Today included several good examples of why I struggle to identify each new pt 3. Wide traverses with sub-traverses within them resulted in several channels being widened to match the gaussians and even this was rather subjective. I have noted two instances where black prv kicked in well after the suspected pt 3, only to reverse within the bar. If I could identify a pt3 more reliably then I suspect many of the small losses could be avoided.
 

Attachments

Quote from Spydertrader:

I agree. As a result, our review begins with insuring we all understand how Gaussian Volume Formations must match the channels - every channel. The Gaussian Volume Formations appear to create challenges when the Price and Volume Bar color (at the close) fails to match the lines we draw above the volume bars. In addition, varying volume levels (when the volume bars don't develop in the exact fashion as represented by the hand drawn examples provided in the past) creates a source of confusion (Is this increasing? Is this decreasing? It started red, but now its black, so how do I draw this line?).

.......

As always, one should see decreasing volume back to the right trend line with increasing volume on a breakout. The same rules apply as before, but beginning today, we all need to make sure we strictly follow the Gaussian Formations. In such a fashion, everyone should begin to see clarity as how Volume Leads Price.

If anyone finds the above instructions confusing, please let me know.

- Spydertrader

<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1453031>
More...

At the start of this journal I was having real trouble with Gaussian formations. (Not that I am an expert now but I am getting better.) What really helped me was distinguishing between the forest and the trees. One day in desperation, I started drawing the forest lines in big thick lines and insisting that they match up with the price formation on the forest level. As the day went by, I also drew in the finer levels in thin lines. Again, I made sure that they absolutely matched the corresponding lines on the price chart.

A few days of this really helped me see the big picture better and understand the real essense of this. I am attaching a chart I did couple of weeks ago. While it looks very confusing at first glance, I made this special emphisis on the forest gaussians which really helped me.
 

Attachments

Spydertrader,

( or whomever feels qualified to answer)

I have a question in regards today's chart and proper labelling. I am unsure if I am labelling the gaussian cycles properly. The area in question on my chart marked by the green vertical lines from 11:20--11:35. The 11:20 bar made a new high and finished lower on vol of 23.7k. The 11:30 bar finished higher on vol of 19.5k. The 11:35 bar made a new high by 2 ticks and was met with selling. Volume was 22.8.. It appeared to me that price was advancing as red volume was increasing. Have I mislabelled my gaussian cycle as R2R ? Does the peak/low in price have to correspond with the peak/low of the gaussian cycle? I have placed an alternate labelling above the volume bars. Please tell me which one is correct.

My thinking at the time was that price was advancing but selling pressure was coming in (increasing red volume) and the 11:35 bar was an ftt: consider change. This may have been a logical conclusion based on incorrect drawing of my channels. I looked at the chart Spydertrader posted. I fanned out from pt 1 AM low whereas he drew a new up channel from the previous point 3. Is it incorrect to fan out from the previous point 1 when price moves laterally? If I had drawn a new up channel from the previous pt 3 then the 11:35 bar would not have been considered an ftt.

Thanks
PCT
 

Attachments

Status
Not open for further replies.
Back
Top