Spydertrader's Jack Hershey Futures Trading Journal

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My chart for today..

I tried to annotate the gaussians...I think it went well

it's hard to match the gaussians with the channels, but this forces me to annotate what I expect will came next...i.e. -PRV, +PRV, increasing Red, decr Black, etc..

My main problem continues to id FTTs to "early" :(
When I suspect I found a FTT, sometimes because of the highest volume bar which I interpret as a "entry" signal, the price continues to go higher, even with volume decreasing....(I know it means change..but in that moment, I'm already in the market getting 2 or 3 pnts of heat) :mad:

I need to solve this anxiety to ASAP ID a FTT...

Regards,
Pedro
 

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Quote from Razor:

My chart for today, please critique :D

http://tinypic.com/view.php?pic=64531mx

Cheers :D
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This is not a critique. I am also learning the JH methods. And a big thank you to Spyder and the others who are generously giving us this chance to learn.

I see your chart has candlesticks. I was a diehard candlestick person after years of looking at charts. I have found that learning this method is much easier with and ordinary bar chart (OHLC).


Additionally, the recent post about Gaussians and matching the corresponding channels is right on the money. My last post addressed some of what helped me.

Anyway, that is my two cents worth. Happy trading.
 
Quote from Razor:

My chart for today, please critique :D

http://tinypic.com/view.php?pic=64531mx

Cheers :D
More...
Razor: Good to see your effort.

Here are my thoughts:

1. there is no rules against using candles. You should ask yourself: are the candles helping you forward? or holding you back in your old paradigm?

2. try to label your pt1, 2, 3. If you cannot do that in real time, do it in hindsight. It helps you confirm your channels, and identify your FTTs better.

3. What are the thin red lines?

keep up the good work !


p.s. Spyder recommended a 20 sma.
 
Here is today's es. Annotations were RT until about 2:00 pm est. Something to note if you were watching the 10:00 bar today when the ISM Mfg Index numbers came out. the es shot up and kissed the 20sma perfectly, then retreated. For those of you that don't think the 20sma has any value, I beg to differ. IMO it's worth watching! :D
 

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Quote from bundlemaker:

This morning on bar 4 (about 1/2 way through bar) I called an FTT. Early in bar 5, the volume situation made it look more like a flaw to me and I reversed to short.

I was happily rewarded. This is the first time I recognized a flaw of this nature so early on. Credit is due to the review of Fridays' HVS. But also, I noted throughout several minutes that S/S seemed to persist more below minus 2 than above positive 2. This didn't occur at any specific decision point, but throughout the flaw. Is this a valid way to use S/S or was it coincidence?
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This is very nice and also what I've been noticing. My major AHA of the month.

You may call it an FTT but max two bars later you know price will not go up and it will lead to FBO. If you short and even if price is moving sideways for 15 more minutes it's okay. Who cares as long as there is no change?

This is unlike conventional trading where everone says you need immediate satisfaction etc etc. This is not the case. We have all the time in the world and will only get out on a signal of change or in volume dry up periods. (or when price crosses RTL or on point3 up, whatever resolution you use).

Regarding s/s I think (and that's what is mentioned) you can get multiple different signals during HVS.

regards,
Ivo
 
Quote from PepeIlegal:



...

My main problem continues to id FTTs to "early" :(
When I suspect I found a FTT, sometimes because of the highest volume bar which I interpret as a "entry" signal, the price continues to go higher, even with volume decreasing....
More...

"Volume precedes price". I'm just repeating Jack and stuff I have read. First there's the volume, then the price following. Often price will peak after the volume peak. I find this especially true for example on a tape, when price is moving in one direction. So if I look for FTT and think I see one in a tape or after a lot of movement in one direction I will wait one or two bars. If I see volume + price peaking in a area of congestion for example in a rounded top or bottom (we often already had the first peak then), I enter usually on same bar.

However, it is recommended for beginners, and that includes me, enter on point 3. (so after the FTT). First FTT, then decreasing non dominant volume, then BO, then pt3 in the new dominant direction on increasing volume. Exit on RTL break of the new channel.

regards,
Ivo
 
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