Quote from ticktrade:
I continue to have a hard time understanding ftt's. I know what they are and I see them. I don't trade them usually but would still like some clarification. Last time I asked I was told to read the begining of the journal, which I did for hours and found many things helpful.
Just so I can make sure we are all on the same page, you have: read through the
entire Futures Journal, Reviewed the Building Channels Document, Got 'up to speed quickly' by clicking the link to Journal II to review how to spot an FTT (2 months of posts there), watched Bundlemaker's Video
and Reviewed Posts I, II and III from the Journal beginning posts which also describe FTT's
all in under two months?
Quote from ticktrade:
I have no trouble with the channels and gaussians and being able to trade this method but could not trade ftt to ftt successful at this time.
O.K. You've got the channels and Gaussians down well, and can trade profitably entering on a Point Three and exiting on a Right Trend Line Break (This is The Forest Level), but find it difficult to 'see' and FTT forming in real time?
If so, this is when you should continue to trade on the Forest Level while monitoring the market to
observe the Price and Volume changes which occur at an FTT. You'll make mistakes at first - confusing flaws for FTT's. Over time, you'll learn how to spot the differences and find yourself ahead of the class.
Quote from ticktrade:
A few bars in question.
9:50 is see as a dip but at the time thought it was an ftt.
When flaws begin, they look very much like an FTT. Hint: monitoring Volume provides a clue to whether you observe a flaw or see in FTT in the making.
Quote from ticktrade:
9:55 looks like the dip bar to me until the next bar was finished.
Dips occur over three bars, 9:45, 9:50 and 9:55. It is the 9:50 bar which
looks like an FTT as it begins, but later we see that it was not an FTT. The 9:55 bar simple has us finishing the Dip formation and then continuing onward.
Quote from ticktrade:
Am I supposed to see the difference on the bar or wait for the next bar to confirm. If I wait til the next bar it would make trading the ftts much riskier at this resolution.
Eventually, the differences between what is and what is not an FTT become clearer. Most flaws won't show their true colors until the next bar after the bar you thought was an FTT, so you won't know until later that you incorrectly viewed a particular bar as an FTT. I have discussed this before with respect to making errors (and I recommend you review
once again) and how, "First by accident, and then by design" you'll see that errors are
not to be avoided. Focus on quickly recognizing your errors, and then, immediately fixing your errors provides the road to success.
Quote from ticktrade:
15:50 bar I thought was an ftt.
On my chart, the 15:50 Bar shows a Volatility Expansion. This bar could not be an FTT. Perhaps, your charts showed you something different.
Quote from ticktrade:
Sometimes people note ftt's when vol. increases on the bar and sometime when vol decreases. I'd appreciate it if someone could provide some clarification.
Sometimes FTT's develop during high volume and sometimes they develop during periods of low volume.
The Journals (and background material links) contain a wealth of information. Quickly reading over the posts often results in a less than complete understanding of the basic concepts. I encourage you to review areas where you may have overlooked the important fundamentals discussed.
I hope you find the above information helpful.
- Spydertrader
