Spydertrader's Jack Hershey Futures Trading Journal

Status
Not open for further replies.
Quote from optioncoach:

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.
More...
a fast finger mistake.
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.

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

..
More...

now, a little reminder.

Quote from Spydertrader:

..

..
Again, please review the original premise of this Journal. SCT is not a goal. SCT is a consequence of the learning process. The most common variable within this process is time. Some learn in a few hours, while others, take years to perfect the differentiation between continuation and change.

.... After all, years might pass before you could ever reach full SCT level so why even try? Remember, the goal isn't SCT, the goal is to differentiate continuation and change in any market on any time frame (provided sufficient liquidity exists). Learn to do that and you have an ATM Machine.

I'd be willing to bet if you learned all the tools and used them appropriately to catch the signals for change as close to the actual tic as possible, you'd find yourself, almost accidently, drifting into the land of SCT without even realizing it.

....... First by accident; Then by design .....

Sound familiar?

- Spydertrader
More...
 
Quote from nkhoi:

a fast finger mistake.


now, a little reminder.
More...


Thanks OC and nkhoi for pointing out my mistakes. The 13 contracts were generated by TWS somehow and I corrected immediately with lost of 13 points in that transaction. Another big mistake was the first trade with about 6 points lost because I was struggling with the book order screen. My P/L would be positive(13pts) otherwise.

For most people in this thread, the result is nothing; however, it is very encouraging for me. Before I found this forum, I never heard about "Future" and never traded anything. I learned by watching recorded videos and reading posts here. Yesterday was my first time to HIT T.

Again, thanks Spyder and all posters in this forum.

Eneratom
 
Quote from eneratom:

Thanks OC and nkhoi for pointing out my mistakes. The 13 contracts were generated by TWS somehow and I corrected immediately with lost of 13 points in that transaction. Another big mistake was the first trade with about 6 points lost because I was struggling with the book order screen. My P/L would be positive(13pts) otherwise.

For most people in this thread, the result is nothing; however, it is very encouraging for me. Before I found this forum, I never heard about "Future" and never traded anything. I learned by watching recorded videos and reading posts here. Yesterday was my first time to HIT T.

Again, thanks Spyder and all posters in this forum.

Eneratom
More...
You can apply to IB for a Paper Trading account (not a demo acct). The Paper Trading account (free) provides the same live quote and trade privileges as your real money account. You can test out your "buttons" over there.

For more discussion of software issues, you can post your questions at:
(p.s. we can accommodate HW questions too.)
http://www.elitetrader.com/vb/showthread.php?threadid=97684
 
This was certainly a day of two markets eh? The morning with its shallow channels wreak havoc on me (per usual). It seems even the slightest congestion whether I anticipate it or not, chews me up:mad: Additionally, I find myself in the "damned if you do, damned if you don't" phase of learning. Specifically how to better distinguish FTT's and flaws. Seems at present I'm wrong either way if I presume a flaw or if I don't :( Finally, the huge swings in the end had their way with me...and not in a good way.

All in all a good day, although exceedingly frustrated during the slow/shallow channel part. I have to get a better grip on the macro trend of volume to better handle these periods.:eek:
 

Attachments

looks like a mass confusion unless you know its name :)
6b0ypom.gif
 
At what point today did anyone notice the 1045 bar was a change bar and what were the signals (tools) that you used
to determine this ?

note - I am using only ES price and volume

My thinking was at 1045 everything looked OK. No obvious FTT.
At 1050 a DEC RED PRV Bar so I'm thinking dip or stall but will not know to next bar. At 1055 I am seeing INC RED PRV lower lows and lower hi. Looks like a ST and change in sentiment.

During the 1055 bar is when I had some confident of my short channel and probably during this bar would of went short.
 
Quote from 8833broc:

At what point today did anyone notice the 1045 bar was a change bar and what were the signals (tools) that you used
to determine this ?

note - I am using only ES price and volume

My thinking was at 1045 everything looked OK. No obvious FTT.
At 1050 a DEC RED PRV Bar so I'm thinking dip or stall but will not know to next bar. At 1055 I am seeing INC RED PRV lower lows and lower hi. Looks like a ST and change in sentiment.

During the 1055 bar is when I had some confident of my short channel and probably during this bar would of went short.
More...

Here is what I saw. I am recording my entire screen setup and just reviewed this portion of the day. In real time I think I caught basically what I am about to tell you. In review, it seems quite clear.

About 10:47 stretch/squeeze started going below neutral and it got as low as -7. The s/s signal for change seemed to continue all the way through the close of the bar. I was not able to see any DOM wall get in the way of the drop. At the bar (10:45) close the YM showed a flaw bar in the non-dom direction suggetsting change also. Hope this helps.
 
Quote from 8833broc:

At what point today did anyone notice the 1045 bar was a change bar and what were the signals (tools) that you used
to determine this ?

note - I am using only ES price and volume

My thinking was at 1045 everything looked OK. No obvious FTT.
At 1050 a DEC RED PRV Bar so I'm thinking dip or stall but will not know to next bar. At 1055 I am seeing INC RED PRV lower lows and lower hi. Looks like a ST and change in sentiment.

During the 1055 bar is when I had some confident of my short channel and probably during this bar would of went short.
More...

YM tipped it off a little, tick chart definitely showed the dominant shifting. None of that helped me though. I have gotten in the habit of everytime a vol exp happens, pay close attention to the next bar. The 10:50 bar made a slight attempt at running up again before being denied. You will see this happen quite often, and although it doesnt seem like much, these moves often turn out to be big ones. The same kind of sequence unfolded at 14:25/14:30, but the run up attempt was a little more pronounced at this one.

Also, in my opinion the 10:55 bar has all the makings of an ftt. Hope I dont have to put on the dunce cap when Spy reads this...


EDIT : I see on Spy's chart the 10:50 didnt up tick, maybe mine was just off or something...
 
Status
Not open for further replies.
Back
Top