Much appreciated... Looks like all of our efforts in emailing them about this may have paid off. I had stopped drawing them altogether because I'd get so pissed when they disappeared on me... (same feeling you get when a power surge fries your computer and you lose a 20 page paper that is due tomorrow).
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Spydertrader's Jack Hershey Futures Trading Journal
- Thread starter Spydertrader
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Much appreciated... Looks like all of our efforts in emailing them about this may have paid off. I had stopped drawing them altogether because I'd get so pissed when they disappeared on me... (same feeling you get when a power surge fries your computer and you lose a 20 page paper that is due tomorrow).
Hello RedDuke,
I am glad you are following the thread and have the great q's that you do.
When you see dkm saying that a tough stretch occurred because of intrabar trading opportunities, you are seeing what it is like when a person CAN recognize an opportunity.
Think of a lot of people trading and some are really skilled. They are taking trades that do what? They lessen the minority that they are facing.
What is the consequence? It is this. The minority is eaten way faster than if the skilled trader were not there.
This bunch of skilled traders is creating what?
Well, in the frame of the contemporary psychology of the market at that time, they are causing price to move a little faster against the minority who happen to be on the wrong side of the market.
Lets say that the total group of players is about the same. As this phenomena of our skilled crew is moving the market price a little faster by their taking out the minority faster because there are more and more of us skilled traders doing it after a while.
Thus we skilled traders all get to ride to the next turn up ahead a little sooner and the turn probably isn't going to have too different a value than otherwise.
What a bigger and bigger herd of similarily skilled traders do is create time compression of cycling of the psychological limits of the market. This is an expression of LTL and RTL staying about the same but the trip back and forth from one side to the other takes less time. Thus there will be more trips per day.
Personally, I like the interbar high volatility days and being in synch with higly skilled guys like those who post their successes on here. We want to be like the military fly guys who do demos at air shows. If we get enough moxey (my fav drink at summer camp in the 40's) we will call ourselves the "Black Swans" because of how we speed up the traverses.
Here is a thing to consider. Relax and take a deep breath. Just say to yourself that you want to become a Blue Angel and do a few 7 g's. I had a limit of 5g's in my glider in the afternoons, for example.
You decide to do SCT. You decide to take the flights. You fly with the finest cause you know as you fly the more in the flight the better.
Right now, your ship is on the flight deck. You do not fly as yet. Join the flight crew. When MAK says how it feels knocking down a Lexus in a morning, he means it. When someone else says its unbelievable and/or astonishing, it is.
You can be a blue angel.
Market reversals are like 7g turns; you are only in the space for a moment and then someone else makes a 7g turn next. Gravity is not something we have to fight much.
I saw a guy trade at the expo and he sat through two perfect trades that John Letto and the group I was squatting with took. then this guy put on a trade @ an FTT that began a long level 3 Forest. He went short perfectly opposite US and he set his stop on what we saw as a BO spot on the RTL. He got wiped as the reversal (R2R) started. We held and were pushed by increasing volume as the session came to a close.
After I commented to Letto on the fact that we did four trades together using different methods and he had wiped the other guy all over the floor.
Someone wiped my badge and said something about next year. I think is was a Blue Angel recruiter from the Expo.
Go for the experience of being a fully skilled SCT trader and have the same feeling as a Blue angel pilot does. It is one fun trip to do the trades and see the herd push you across the traverses all day long. When you get down to level 1 channels and take each reversal on internals and 2 pairs and walls, you are flying with the most skilled and it is not a crowded place. If it does get crowdede then you will just be using afterburners supplied by the minority to get you there faster.
Get your five way safety harnesss adjusted (no ball busting on outside rolls).
I am glad you are following the thread and have the great q's that you do.
When you see dkm saying that a tough stretch occurred because of intrabar trading opportunities, you are seeing what it is like when a person CAN recognize an opportunity.
Think of a lot of people trading and some are really skilled. They are taking trades that do what? They lessen the minority that they are facing.
What is the consequence? It is this. The minority is eaten way faster than if the skilled trader were not there.
This bunch of skilled traders is creating what?
Well, in the frame of the contemporary psychology of the market at that time, they are causing price to move a little faster against the minority who happen to be on the wrong side of the market.
Lets say that the total group of players is about the same. As this phenomena of our skilled crew is moving the market price a little faster by their taking out the minority faster because there are more and more of us skilled traders doing it after a while.
Thus we skilled traders all get to ride to the next turn up ahead a little sooner and the turn probably isn't going to have too different a value than otherwise.
What a bigger and bigger herd of similarily skilled traders do is create time compression of cycling of the psychological limits of the market. This is an expression of LTL and RTL staying about the same but the trip back and forth from one side to the other takes less time. Thus there will be more trips per day.
Personally, I like the interbar high volatility days and being in synch with higly skilled guys like those who post their successes on here. We want to be like the military fly guys who do demos at air shows. If we get enough moxey (my fav drink at summer camp in the 40's) we will call ourselves the "Black Swans" because of how we speed up the traverses.
Here is a thing to consider. Relax and take a deep breath. Just say to yourself that you want to become a Blue Angel and do a few 7 g's. I had a limit of 5g's in my glider in the afternoons, for example.
You decide to do SCT. You decide to take the flights. You fly with the finest cause you know as you fly the more in the flight the better.
Right now, your ship is on the flight deck. You do not fly as yet. Join the flight crew. When MAK says how it feels knocking down a Lexus in a morning, he means it. When someone else says its unbelievable and/or astonishing, it is.
You can be a blue angel.
Market reversals are like 7g turns; you are only in the space for a moment and then someone else makes a 7g turn next. Gravity is not something we have to fight much.
I saw a guy trade at the expo and he sat through two perfect trades that John Letto and the group I was squatting with took. then this guy put on a trade @ an FTT that began a long level 3 Forest. He went short perfectly opposite US and he set his stop on what we saw as a BO spot on the RTL. He got wiped as the reversal (R2R) started. We held and were pushed by increasing volume as the session came to a close.
After I commented to Letto on the fact that we did four trades together using different methods and he had wiped the other guy all over the floor.
Someone wiped my badge and said something about next year. I think is was a Blue Angel recruiter from the Expo.
Go for the experience of being a fully skilled SCT trader and have the same feeling as a Blue angel pilot does. It is one fun trip to do the trades and see the herd push you across the traverses all day long. When you get down to level 1 channels and take each reversal on internals and 2 pairs and walls, you are flying with the most skilled and it is not a crowded place. If it does get crowdede then you will just be using afterburners supplied by the minority to get you there faster.
Get your five way safety harnesss adjusted (no ball busting on outside rolls).
Quote from dkm:
ES 25 Jun 07
No probs until 14:30 to 15:10 - found that to be very tough. Lots of intrabar changes.
This is where I get confused also and lose the rhythm, during these high volatility areas. (which sucks because of the profit potential that is presenting itself.)
Everything is very clear (channels, p.v. relationship) up to that leg down after your point 3, then I cant make sense of anything..
Had I been making actual trades I would have closed my short during one of those volatile bars between 14:30 and 15:00 and probably shut it down for the day because of the speed and volatility and not clearly seeing the p.v relationship...
Quote from jack hershey:
What a bigger and bigger herd of similarily skilled traders do is create time compression of cycling of the psychological limits of the market.
When I read this it was like I was back in college and saw the mathematical elegance of how Calculus works for the first time. I had a big smile AND steam coming out the ears. Jack, this totatlly blows my mind because it makes so much sense. This has a profound impact on my thinking about the future. THanks for this post.
Also, good to see you posting again, Mak.
The mix of raw beginners to expert level all in one pot changes the learning curve dramatically.
Hey DojiBB,Quote from DojiBB:
Hi Spooz,
How do you use your volume by price indicator (blue histogram) on the left of your chart?
I implemented my Vol histogram way back before I came across this thread and PV. As I gradually morphed my app, it was easier (and safer, LOL) to leave it in.
spooz
Jack
do you have anything to add to the discussion we had recently on harmonics? I, and I'm sure others, would appreciate your comments on this topic beyond what you've previously posted.
See:
http://elitetrader.com/vb/showthread.php?s=&postid=1496146#post1496146
As to the fear that SCT traders will end up moving the markets: that's a good problem to have! But remember we are micro-trend anticipators - we need the big money to be doing its thing to provide the carrier signal in which we operate. Otherwise we'd fly into the hill in formation...
do you have anything to add to the discussion we had recently on harmonics? I, and I'm sure others, would appreciate your comments on this topic beyond what you've previously posted.
See:
http://elitetrader.com/vb/showthread.php?s=&postid=1496146#post1496146
As to the fear that SCT traders will end up moving the markets: that's a good problem to have! But remember we are micro-trend anticipators - we need the big money to be doing its thing to provide the carrier signal in which we operate. Otherwise we'd fly into the hill in formation...
Quote from ang_99:
This is where I get confused also and lose the rhythm, during these high volatility areas. (which sucks because of the profit potential that is presenting itself.)
Let's try to keep everything in perspective.
If you caught the majority of the move which preceded the area highlighted below (See Attached), then you have exceeded the expectations of the vast majority of traders who post on this web site. Focus (for now) on nailing the major trends of the day. When you can achieve this successfully, then move to a lower resolution level.
Most people should have experienced difficulty during the time frame under discussion. Why? Because accurately following the Price action in this area involves using finer resolution level tools (one's we have only recently started to use), than the vast majority of individuals following along even use regularly.
In other words, no need to focus on the leaves and bugs, until you have an expertise in the tools needed to find the leaves and bugs. Otherwise, its akin to using a sledgehammer and a pick axe for brain surgery when you really need to use a scalpel and a pair of scissors.
- Spydertrader
<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1511425>
Attachments
Quote from Pr0crast:
Much appreciated... Looks like all of our efforts in emailing them about this may have paid off. I had stopped drawing them altogether because I'd get so pissed when they disappeared on me... (same feeling you get when a power surge fries your computer and you lose a 20 page paper that is due tomorrow).
I sent them an email asking for some improvements to help drawing channels. Things like grabbing the wrong lines etc. An example is when moving a selected line, QT selects a different line created earlier and moves that instead. I got the same reply and the patch did not fix the problem.
I have not lost hope though. I have sent them a video showing some of the issues I have run into and hopefully they would fix them.
If you are using QT, it might help to ask for the same.
Quote from Spydertrader:
Try this:
You have an increasing Red Gaussian until price fails to head any lower (within the current Forest down channel). You have an increasing Black Gaussian until price fails to head any higher (within the current Forest up channel). You have a decreasing Red Gaussian until Price fails to head lower in the current Forest up channel. You have a decreasing Black Gaussian until price fails to head higher within the current Forest down channel. At some of these change points (increasing to decreasing or decreasing to increasing), you should find FBO's. At others, you should find FTT's. If you find you have made an error with your gaussians, change them. If you find you have missed a channel due to your revised Gaussians, add it.
- Spydertrader
In my quest to find the action points which are appropriate for use with Gaussians; I am looking for clarification on the details of their annotation.
Does the above quote indicate that the action points needed to start and end each Gaussian peak or trough annotation correlate with FTT's and FBO's only? Or is it more of a looser interpretation than this?
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