Spydertrader's Jack Hershey Futures Trading Journal

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Yesterday was my first time to watch the market in real time (Civic Day in Ontario). I paper traded ES in SCT fashion which means I was in the market all the time and tried to be on the right side of the market.

I have been watching videos for a while and I am sure I can trade profitably with Entry/Exit/Stop; However, I want to know how my mind works in SCT.

Although I made a lot of mistakes, the result was encouraging. Attached file contains all my transactions.


After debriefing, I found the following mistakes that can be avoided.

1. I was not sure which side was the right side on some of the bars, so I kept reversing.

2. Without stops, I lost up to 3 points several times. The first 5.75 points lost was due to struggling with TWS order screen.

3. I submitted wrong position size several times because of lack experience on hitting T.


I post my transactions because I am convinced that SCT is doable and I want to encourage people to spend time on this method even you have a job and no experience on trading. It works!!!
 

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Snapshot of change during FOMC hour:

Channel shows FTT.
Volume is declining, but still red.
Str/Squ is not negative, passing neutral.
Tick chart shows triple bottom (ie. sort of 2 pair) and shift in dominant colour (except the last tick back to the wall).
And finally we have a relative wall on the bid: 362 vs. 8 on the inner pair.

Thought it might be of interest.
 

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P1,

Just a suggestion on your YM tick chart, you might want to use 'Tick (2)' instead of '5', so the lines match the 2 minute bars.

-Mike
 
Quote from Spydertrader:

The Tic Chart

One need look no further than the hand drawn chart posted above to locate the classic signal for change as represented by the Price portion of the tic chart. However, Volume also plays an important role in the tic chart. Remember Gaussians? Well, they too exist at the tic level, and one can 'see' the Gaussian shifts occur within the ES five minute bar, simply by monitoring the Volume pane of a 'one tic range' chart. In other words, When a shift in market sentiment occurs, this sentiment shift is visible on the tic chart itself. Pretty cool, eh? Harmonics, Gaussians, Channels all exist within the 'one tic range' chart. Now, I'm not trying to suggest one attempt to draw trendlines on a fast moving chart like this, but if one has developed the ability to mentally 'superimpose' a trend channel onto the tic chart, you'll understand exactly what I am talking about.

- Spydertrader
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Too cool, although I'm a bit glad there arent any finer resolution tools :D

This little gem would have put you in the drivers seat for a 30 pt run
 

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Quote from Spydertrader:

Channels and Gaussians on the tic charts!! You are hard core!

- Spydertrader
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lol... That was done WAY after market, I am just getting the hang of watching the tic charts now. Just wanted to see if I could illustrate your description

I love this game™
 
Quote from Avi 8:

P1,

Just a suggestion on your YM tick chart, you might want to use 'Tick (2)' instead of '5', so the lines match the 2 minute bars.

-Mike
More...

Thanks, I'll do that. I thought the 5 minute lines on the YM tic chart would line up with the ES but they don't.

===
BTW, with reference to the screenshot I posted above - there was also a wall on the FTT bar itself although price didn't quite touch it, as far as I could tell.
 
Quote from eneratom:

Yesterday was my first time to watch the market in real time (Civic Day in Ontario). I paper traded ES in SCT fashion which means I was in the market all the time and tried to be on the right side of the market.

I have been watching videos for a while and I am sure I can trade profitably with Entry/Exit/Stop; However, I want to know how my mind works in SCT.

Although I made a lot of mistakes, the result was encouraging. Attached file contains all my transactions.


After debriefing, I found the following mistakes that can be avoided.

1. I was not sure which side was the right side on some of the bars, so I kept reversing.

2. Without stops, I lost up to 3 points several times. The first 5.75 points lost was due to struggling with TWS order screen.

3. I submitted wrong position size several times because of lack experience on hitting T.


I post my transactions because I am convinced that SCT is doable and I want to encourage people to spend time on this method even you have a job and no experience on trading. It works!!!
More...

I think you should also avoid being long or short more than 1 contract at a time. That 13 contract position was way over your head I think. Walk before you can run.
 
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