Spydertrader's Jack Hershey Futures Trading Journal

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All and all a MUCH better week for me. The one change to the beginner method I made was to exit on the FTT rather than waiting for the BO. So entering on a PT3 and exiting on the FTT, has given me a profitable week finally. Last week was a disaster.

Mon: -1.75 (I was still actually waiting for the BO on Monday)
Tue: +2.0
Wed: No trades, vol very low
Thu: +2.75
Fri: +2.75

I feel much better :) I believe this is also forcing me to look harder for the FTT's. Before, even though I know I was supposed to be looking for them for learning purposes, I was too concerned with the balance sheet and foregoing the learning.
 
Quote from bdolnik:

The one change to the beginner method I made was to exit on the FTT rather than waiting for the BO. So entering on a PT3 and exiting on the FTT, has given me a profitable week finally.
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Interesting. Makes very good sense to me to exit on FTT instead of waiting for RTL break. (BO).

I find FTT's easier to identify than (true) RTL breaks and they occur before RTL break so you have more profits. Should the FTT be a flaw you can still get in again. Another advantage would be as a beginner that you'd be really forced to look for these FTT's other than for educational purposes.

Only 'risk' is to exit too early if this can be defined as a risk.

Next step would maybe be to reverse on this FTT.

regards,
Ivo
 
Does anyone have anything to say about bar 4 on Friday? Seemed like a very important bar to me.

In real time, was it a Pt3 (short) or a stall? When did you KNOW? Being long from bar 3, as you were, how did bar 4 FEEL?

Have a great w/e everyone,

:)
 
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