Spydertrader's Jack Hershey Futures Trading Journal

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Quote from David I:

I'm in "january" with where I am with the syllabus just to put things in perspective.

I think I'm getting faster at making pretty colored and annotated charts but I chuckle thinking to myself that "I make pretty colored charts" is what I'm getting good at and I'm wondering when I get lost ... or I don't know for sure if I'm doing this right (until the end of the day when I compare/correct/redraw based on Spyder's charts).

I've got to attend to other things but this is my pretty colored chart up to 11:25 or so.

Many people comment that we should post our charts so we might get feedback. I am interested in getting some of that feedback. Also it has been pointed out (and makes much sense) that a new comer should just make sure that their charts look like Spyder's at the end of the day - and I do my work after the end of the day working to correct and make them be that way.

For me on this chart things just seem messy and unsure from about 10:20 to 11:25 - so I don't know if I've captured it OK or if there are flaws I have yet to learn about so I should just consider it all continuation until I learn more or if I just am blindsided and missed something more important.

Thanks for any comments / feedback if you have them.

<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1534128>

- David
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David..

That looks pretty good for where you are in the journals. Remember to disregard the channels once price breaks out on increasing volume. You'll see that price action doesnt exactly follow your orange and pink channels because you recycled pt 1 of a previous channel. Doing this gives you alot of "FTT's" where there really shouldnt be. Keep at it and you will be happy you did. Nice work -- hope this helps

John
 
My ES for today. I've been giving QuoteTracker a try for the last couple of weeks. I'm getting to like it! I will say I do like the stability of the TOS platform though. Gaussians gave me a little trouble in the afternoon...

FWIW, I stopped simming about 3 weeks ago and have found that my concentration has gone up measurably. I know, I know, I should have listened earlier. Simming affects your ability to concentrate on the task at hand because you worry if you're going to post some gains by the end of the day. Not the best way to learn.

FWIW2, for those who want extra practice (since I'm not worried about simming and have extra time now :), I now (each day) annotate 5-minute charts for the NQ and ER in addition to the ES and YM.
 

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Found today very difficult, possibly because of the number of reversals that occurred right on the left trend line.

I read in a recent post of Jack's that he advocates starting off trading FTT to FTT with one contract, without the use of str/squ or the dom. This would clearly require being able to distinguish reliably between FTTs and flaws. I am currently trying to do this using es and ym volume but the results are very mixed. The biggest problem remains intrabar shifts which I understand require finer tools.
 

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Quote from dkm:

Found today very difficult, possibly because of the number of reversals that occurred right on the left trend line.

I read in a recent post of Jack's that he advocates starting off trading FTT to FTT with one contract, without the use of str/squ or the dom. This would clearly require being able to distinguish reliably between FTTs and flaws. I am currently trying to do this using es and ym volume but the results are very mixed. The biggest problem remains intrabar shifts which I understand require finer tools.
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Can you post what LTL changes you are talking about? I see only one that looks troublesome, of course this is hindsight as I was not able to watch today.
 
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