Spydertrader's Jack Hershey Futures Trading Journal

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I believe this is a matter of focus...

It is very easy for one to focus on bar to bar action and try to use the existing tools and knowledge to trade it. This has happened to me :D

The problem is, the tools we have now aren't suitable to trade every trasverse of every channel (this is SCT in full mode).

The tools we have now are:
-> ES
-----> Price: Formations: double Tops, double Bottoms, penants, etc.
-----> Volume: PRV and Gaussians
-----> YM
---------> Price: Formations: double Tops, double Bottoms, penants, etc.
---------> Volume: PRV and Gaussians
-----> YM Premium

After some "low profits/breakeven days" I asked myself what was wrong, I realize that I weren't following the rules propely for the current level we are.

This turns the focus to "Channels" and price inside the "Channels".

You enter at FTT (or pnt3) and this should create a new channel for price. Then you monitor:

CONTINUATION:
- Price continues INSIDE the new channel;

CHANGE:
- New FTT = EXIT / REVERSE
- FBO of the old channel = EXIT
- BO of the old channel = Hold (continuation of new channel)

Personally I add also an "emergency exit" at BO of the new channel, if I miss the FTT.

The PRV, YM, Premium, should only be used to help antecipate "Change" in moments of possible change (FTT, FBO, BO)

This is how I understand what Spyder told us so far...

Best Regards,
 
I really really find Spyder's methods very useful as I use the continuation/change notion with my enters and exits(long and short). I follow price and volume. I do use some indicators only as confirmation. If volume is going red coming from some high green, I know the price will start to correct itself and fall down a bit. For how long, I don't know, but I'd say until there is a change in sentiment(red to green)

FTT= Price or trend fails to continue in current direction.

FBO=Price fails to break out.

BO= Price breaks out

CCC=Isn't that when price just ranges for a while? Indecision?

I'd like to learn more about Jokan windows and gaussians. Not quite sure what those are. I also need to make sure I'm drawing in correct channel lines.

Other than that, I think I finally "get it".

PS: A lot of patience is required for these methods or else you'll turn out like every other failing day trader who jumps in positions too impulsively.
 
Quote from Bullz n Bearz:

..
CCC=Isn't that when price just ranges for a while? Indecision?

I'd like to learn more about Jokan windows and gaussians. Not quite sure what those are. I also need to make sure I'm drawing in correct channel lines.

Other than that, I think I finally "get it".

PS: A lot of patience is required for these methods or else you'll turn out like every other failing day trader who jumps in positions too impulsively.
More...
ccc = range
Jokari windows not used for future
the whole thread is about the gau. :D
 
Quote from Bullz n Bearz:

Other than that, I think I finally "get it".
More...

Rather than waste effort changing usernames for the umpteenth time, I encourage you to read the material presented, and do the work required to insure your own success. One must first read the Jokari Window Document (several times), in order to understand how one applies it to trading. See attached.

Detailed instructions, clarifications, background material and loads of reinforcing commentary exist within the many pages of this Journal alone. Follow the Syllabus and spend the appropriate time necessary to learn the material correctly. If you find you need clarification from my posts, then link to the post you find confusing.

Should you choose not to follow the advice provided (on numerous occasions), you do have one additional pathway to choose. Search the ET archives for the following: Jack Hershey, Bubba7, Grob109. Feel free to attempt to absorb the material by reading the posts supplied under those three usernames. Perhaps, you'll find those descriptions easier to comprehend.

Good Journey to you whichever path you choose.

Quote from nkhoi:

Jokari windows not used for future. The whole thread is about the gau. :D
More...

Gaussians, in Combination with PRV, represent a visual definition of the Jokari Window / P-V Relationship. Pull up the attached .pdf and scroll down to the P-V Relationship. Read the following lines and then read the Jokari Window sentences (Symbolic Rendition):

Dominant Volume:

In an uptrend ....

Increasing black Volume with Increasing Price = Continuation

In a down trend ...

Increasing Red Volume with Decreasing price = Continuation

Non-Dominant Volume:

Decreasing Red Volume represents either a retrace of an up channel or lateral movement in a down channel.

Decreasing black Volume represents either a retrace of a down channel or lateral movement in an up channel.

The above Dominant / non-Dominant descriptions accurately portray what The Jokari Window represents: The Price - Volume Relationship with one additional corollary Jack added long ago: The Four O'Clock Drift. In other words, the lessons learn from trading Hershey Equities apply directly to trading Hershey Futures. Hence,

"Any market, Any timeframe - provided sufficient liquidity (and volatility) exist."

Good trading to you all.

- Spydertrader
 

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