Spydertrader's Jack Hershey Futures Trading Journal

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Quote from Pr0crast:

Well that was fun. Sat down at about 14:10 after sleeping in, made 3 trades for +7 pts, and quit for the day at 14:50 :)
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<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1478004>

Great, kid. Don't get cocky.

Hog Solo
 

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I took another 1/2 day off from work to trade today. It is the first day I had a "full" toolkit running. ES 5min, YM 2 min, Qtracker PRV running on both, and QT Str/Sqz plot in candles... Bottom line: I could see it, and feel it, just like Jack and Spyder say! I made 3, 1 contract trades, all winners! Whooppee. L for +0.75, S for +1.0 and a final L for +1.25. I stopped there to savor and build some EQ.

I know one day does not make a trend, but when it "clicked" it sure felt good, now I will start on the journey of seeing how often it stays "clicked." ... if you have been frustrated, don't give up... take some time to reflect and reread, then "just do it" ... but do it "just like Jack and Spyder say..."
 
ivob brought to my attention today a really cool QT tool... right-click your RTL to make a "trend line alert" that will blow a horn at you or something when the RTL is breached. so, if you are a strict forest trader, you can read a book or play a game and not worry when price is nowhere near your "action zone"
 
Seemed like an easy day. My opportunities to watch the market are sporadic during the day so my annotating is usually incomplete in realtime. Finally getting the software setup to make it easier. This is my first attempt at using it.
This was the first day I used the str/sqz correctly(IMO). I glanced at it when I felt the ym was forming an FTT and made several entries when appropriate. Also had times when I thought it was appropriate to enter but no signal from str/sqz so I waited and it was the correct thing to do. Soon after the signal came. Thought maybe it was an aha day but it appears most had no trouble today. Look forward to continuing this process.
Spyder the breakdown you did yesterday was very enlightening. I don't remember reading the actual make up of the various patterns. DKM told me it was mentioned in Jacks document on wealth building but I don't remember so it was nice to see it laid out this way.

es 5-23
http://charts.dacharts.com/2007-05-23/2007-05-23 17-18 @ESM7 5.png
 
Quote from ticktrade:

Also had times when I thought it was appropriate to enter but no signal from str/sqz so I waited and it was the correct thing to do.
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Just be sure to exercise some caution here-- STR/SQU is not a standalone signal. If you have a sufficient data set that tells you that it is "appropriate" to enter, then there is no reason to watch/wait for a STR/SQU signal.
 
I agree, I dont know what it was exactly but everything seemed to work out perfectly based on my channels, gaussians and ym points of change. I was telling a buddy of mine that I think today was the easiest day I've seen since I started. My hopes are that its not the day that was fairly easy rather I'm just getting better :D


Quote from ticktrade:

Seemed like an easy day.
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Quote from ivob:

I have reviewed the video of this and tried to identify the moments where we know this is not an HVS (so on incr. red volume). In my opinion this does happens when we are three ticks below the bottom trendline of what we thought to be an HVS. We get a squeeze there and increasing red after that.

Was this also the moment you found out it was not an HVS? I find this rather late.

The video can be downloaded here. It is 600 KB and the length is 3 minutes. I annotated the moments I thought were important.

regards,
Ivo
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Ivo...

how do you play the 10:12 bar on YM that is an FTT? I assume that you didnt reverse on that ym ftt, just wondering your reasoning for not doing that. I assume it is either the large number of FTTs on YM occuring almost all day, or you were waiting on a BO which took its sweet time. I also noticed that price fell pretty hard after breaking through the 20ma you have on there...

The way you have it marked clearly looks like a HVS. Thanks for posting the video examples. The debrief and discussion are a great help to alot of us...
 
Quote from Jander:

Ivo...

how do you play the 10:12 bar on YM that is an FTT? I assume that you didnt reverse on that ym ftt, just wondering your reasoning for not doing that. I assume it is either the large number of FTTs on YM occuring almost all day, or you were waiting on a BO which took its sweet time. I also noticed that price fell pretty hard after breaking through the 20ma you have on there...

The way you have it marked clearly looks like a HVS. Thanks for posting the video examples. The debrief and discussion are a great help to alot of us...
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Hello Jander,

I did consider it to be an FTT.

- However, the high of that bar was the same value of another bar in the same channel (YM). This made me think :"Even harmonic" just like in an HVS (same high). Had it been a tick higher I would have reversed

- The volume did not convice me. I would expect much higher volume on the bar before the FTT.

- As you can see I did annotate ES and YM differently. I did not consider price to be in an upchannel on ES but it was. I was not viewing the market as I should. Had I drawn the upchannel on ES then a possible FTT would have occured to me (on ES). It didn't.

- I have just been learning about HVS and as wat often happens with things you learn I think I see HVS everywhere (I remember I used to see FTT's everywhere)... I kind of leaned back and just waited for price to come out on the top and kind of stopped monitoring. Wrong decision. It's not that easy.

I hope to have answered your question.

regards,
Ivo
 
Small annotated video how the first FTT was formed yesterday.
I was actually short (since the fbo) but reversed later on, on pt3 up. The move was about 4 points.

I am also following DOM btw.

Here it is.

regards,
Ivo
 
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