Spydertrader's Jack Hershey Futures Trading Journal

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Quote from ivob:

Funny. I was following str/sq very closely today but it was giving so many contrary signals in the last hour. Did anyone notice this?
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Perhaps, you follow STR / SQU too closely. I recommended monitoring STR / SQU only when YM reaches extremes. Note how the word 'glance' seems to have significant emphasis in my linked post. :D

- Spydertrader
 
spent most of the day on family obligations... but managed to jump right back in upon return.
Being able to draw channels the JH way has its advantages -- you get to know exactly where the market has been, and thus can anticipate where it is going.
 

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Quote from Spydertrader:

Perhaps, you follow STR / SQU too closely. I recommended monitoring STR / SQU only when YM reaches extremes. Note how the word 'glance' seems to have significant emphasis in my linked post. :D

- Spydertrader
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For sure that was the case and I was on the wrong track for a while. You cannot keep on reversing on str/sq signals. Learned my lesson.

Also a matter of moving to coarse again.

Also I did notice in the last 45 minutes or so that YM and ES were more or less going their own way.

regards,
Ivo
 
Quote from bundlemaker:



... This afternoon I did something wacky. I determined what the trend was IN MY RESOLUTION, and when price got closer to the RTL than the left, I just got in and continued to monitor for change or continuation. For some reason this just felt much much easier and more comfortable. ...
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It's nice to get that warm and fuzzy feeling when nailing the swing highs and lows (make that a tick below/above so as to ensure a sim fill - heheh) but as we seldom reside in the perfect world, what's wrong with taking a nice chunk out of the middle.

I can relate something similar today, bundlemaker. My trading session was chopped up by cleaning out a refrigerator and waiting for the repairman, but in between the two I was able to make it back to the screen to see where they were after lunch. A quick look showed the operative dominant down channel, and price was making its second bar correction on decreasing black volume. The steepest RTL was close by, and I saw no reason not to take a short trade. It was only a matter of a couple minutes and the next push down began. Shortly after my 3 pt target was hit (didn't know how long I could watch, so just opted for a target preset w/ entry). The timing was a bit lucky perhaps, but the read was as it has been taught to us for months. Pretty cool!
 
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