Spydertrader's Jack Hershey Futures Trading Journal
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OK another day of my observations on StrSqw provided good opportunity despite no news (thanks to the big sell off).
Here is what I saw as an interesting event: YM (ES too) did a strong volatility expansion move beyond LTL together with high volume and Str/Sqw provided an extreme move (relative to the rest of the day) to the upside.
Question to people with more experience: was it a really valid reversal signal?
For me it is important to know that i don't "make up" signals and they really exist...
Here is what I saw as an interesting event: YM (ES too) did a strong volatility expansion move beyond LTL together with high volume and Str/Sqw provided an extreme move (relative to the rest of the day) to the upside.
Question to people with more experience: was it a really valid reversal signal?
For me it is important to know that i don't "make up" signals and they really exist...
Ivo, thanks for the comments.
The dotted lines represent minor point 3 channels, and the solid lines represent the major channels I'm attempting to trade. I use the finer dotted line channels to support trading decisions of the major channels. I've made no attempt to draw tapes for some time, but maybe it's time to try again.
That explanation is very helpful. I'll keep this in mind tomorrow.
But it is the high point of what would be point 3 of a new point 3 down channel, and bar 8 is the high that originates the next bar with red volume just like bar 2. The only difference I see between bar 2 and bar 8 is that volume peaks after 2, but not after 8, where it just increases slightly red on bar 9. Does this mean you won't draw a RT until peak volume has occurred?
Regarding using peak volume points to match gaussians in reference to taped channels, do you steepen channels to match these peak points? Like in the attached?
Esteban
The dotted lines represent minor point 3 channels, and the solid lines represent the major channels I'm attempting to trade. I use the finer dotted line channels to support trading decisions of the major channels. I've made no attempt to draw tapes for some time, but maybe it's time to try again.
That explanation is very helpful. I'll keep this in mind tomorrow.
But it is the high point of what would be point 3 of a new point 3 down channel, and bar 8 is the high that originates the next bar with red volume just like bar 2. The only difference I see between bar 2 and bar 8 is that volume peaks after 2, but not after 8, where it just increases slightly red on bar 9. Does this mean you won't draw a RT until peak volume has occurred?
Regarding using peak volume points to match gaussians in reference to taped channels, do you steepen channels to match these peak points? Like in the attached?
Esteban
CFerret just a thought but is it possible this premium move is caused by YM falling 6 pts before the IB INDU quote was refreshed? I only ask because on my feed (IQfeed) there is no such move to 6 (I have a high of about 3) and I know that IB do not refresh their INDU quote as frequently as one would like. Mind you IQ aren't brilliant either. Do others have this spike?
Also the difference study in Sierra can act a little oddly. You could try changing the time frame from say 2 sec to 10 sec to 10 min and see if the premium hi/lo readings are consistent. Mine aren't and I'm not sure if it's a data or Sierra issue.
What may help is a fast INDU derived directly from the 30 stocks which can be built in a worksheet, though this may be resource hungry.
Also the difference study in Sierra can act a little oddly. You could try changing the time frame from say 2 sec to 10 sec to 10 min and see if the premium hi/lo readings are consistent. Mine aren't and I'm not sure if it's a data or Sierra issue.
What may help is a fast INDU derived directly from the 30 stocks which can be built in a worksheet, though this may be resource hungry.
Not sure what to say here. Days like today MUST be your EASY days (ie. ATM DISPENSER).
Sometimes as traders, we can fall into the trap of "analysis paralysis" instead of just acting on sufficient data (ie. RTL BO)... A RTL BO is complete because it either CONTINUES its BO or it FBOs. Why not throw the pt3s into the BO/FBO set. It does fit in. Treating them as you see them you have your conditions for when they go against the pt3 (ie. BO). Of course if the action does not CONTINUE to BO but instead recrosses back over the previous RTL, you KNOW you have a FBO...
My lesson of the day.
This AHA should have happened in January, but it popped up today, so I will share it with you.
On 15:05, I drew a RTL from 13:30, thinking this might be a new Pt3 for a new up channel.
Then I consult Mr. Gau. He said the reds are increasing. i.e. this down move from 14:30 was not a retrace, but a dominant traverse of a down channel.
I quickly erased the trend line.
This AHA should have happened in January, but it popped up today, so I will share it with you.
On 15:05, I drew a RTL from 13:30, thinking this might be a new Pt3 for a new up channel.
Then I consult Mr. Gau. He said the reds are increasing. i.e. this down move from 14:30 was not a retrace, but a dominant traverse of a down channel.
I quickly erased the trend line.
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