Spydertrader's Jack Hershey Futures Trading Journal

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Quote from EstebanUno:

Gaussians are inconsistent, I'll study them later. It's a result of reading the "Golden Post", where JH says every flaw, including hitches should be drawn in the gaussians. Still digesting the idea.
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With all due respect to Jack Hershey and his generosity, Please do Not go and do this. When reading posts (especially old posts from Jack), take a moment to understand the context of the post. Jack's posts refer to SCT. We do not yet practice SCT in this Journal (See Syllabus). Beginning Level traders on a Forest or Tree Level Resolution, Hold through flaws. As such, annotations should go through the flaws (unless the change in trend occurs on the flaw itself). Use the old posts to augment your understanding. Follow the directions outlined here to correctly learn the fundamentals.

I hope you find the above post provides some clarity.

- Spydertrader
 
Quote from Pr0crast:

I'm finding that when I use it correctly, the DOM adds a very unique level of comfort to a trade. When I'm at a gaussian trough, perhaps a potential PT3, and an 800 vs. 80 wall forms underneath the PT3, its very comforting getting an entry that almost negates the spread. Also makes a lot of washes a lot more obvious if an opposing wall forms.
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I agree Pr0crast. I also feel very comfortable watching the DOM and keep on watching it for confirming and opposite signals the first few moments after taking the trade. If you're sharp chances for a loss are very low.

I did make the mistake though to keep on watching it. After price moves we move back to coarser tools, PRV, channels.

I do think (from observing) that the DOM only tells you where price will go for the next 2-3 ticks or so. However, on important moments (like after RTL break and we get VDU) these 2-3 ticks are exactly what it is about because other forces will do the rest after that.

regards,
Ivo
 
Quote from ivob:

I agree Pr0crast. I also feel very comfortable watching the DOM and keep on watching it for confirming and opposite signals the first few moments after taking the trade. If you're sharp chances for a loss are very low.

I did make the mistake though to keep on watching it. After price moves we move back to coarser tools, PRV, channels.

I do think (from observing) that the DOM only tells you where price will go for the next 2-3 ticks or so. However, on important moments (like after RTL break and we get VDU) these 2-3 ticks are exactly what it is about because other forces will do the rest after that.

regards,
Ivo
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Right on the mark. Seems to me that it is very important to get off the DOM as soon as the trade gets out of wash territory. It served its purpose, now look to the coarser tools.
 
Quote from Pr0crast:

Seems to me that it is very important to get off the DOM as soon as the trade gets out of wash territory. It served its purpose, now look to the coarser tools.
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Not only for the DOM, but for ALL tools. Once used for the specific purpose intended, one needs to move back to the appropriate monitoring device (based on Resolution Level) and avoid "Hanging out at the party too long and overstaying one's welcome."

- Spydertrader
 
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