Spydertrader's Jack Hershey Futures Trading Journal
- Thread starter Spydertrader
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Hi Losttrader,
With just a quick glance, it appears that what you are drawing is correct. My strong suggestion, (from personal experience) is to annotate everything you possibly can, at least for a while.
I mean, like points 1, 2, 3, FTT's, BO's, FBO's and perhaps another resolution level of channels. You say you are only drawing what you see. Actually, you are only drawing what you believe you see. You're eyes are picking up everything that is there.
Now, I know you realize this. The point I'm trying to make is that you need to train yourself to do the right things. I promise you that you're pace of learning will increase substantially if you just sort of pretend you already know how to do this. If you start messing up, someone here will point it out.
Good to have you here.
On a five minute chart, you can know the 'type' of day to expect (meaning whether or not to expect an 'M' / 'W' day or neither) within the first three bars.
- Spydertrader
Oops, I erased all my lines, here's my CO channels for Monday.
Switched to Quotetracker for now, even though drawing trend lines is a little tougher due to the pointer snapping to lines you want to leave alone. But I love the PRV tool, very cool.
Question - I read where we advised to ignore the volume trends when they are at extreme levels, and rely on price trends only. Is this right, or should we still annotate but give it less weight than usual?
Or, given the recent extreme volume on every bar, should we change the levels of our pace lines?
Switched to Quotetracker for now, even though drawing trend lines is a little tougher due to the pointer snapping to lines you want to leave alone. But I love the PRV tool, very cool.
Question - I read where we advised to ignore the volume trends when they are at extreme levels, and rely on price trends only. Is this right, or should we still annotate but give it less weight than usual?
Or, given the recent extreme volume on every bar, should we change the levels of our pace lines?
Quote from LostTrader:
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If I am pre-mature in posting, I apologize. I realize that I am 6 months behind most everyone else, and have no wish to derail the discussion. Input appreciated. Please bear in mind I am a rank beginner so be gentleâ¦I wish to learn!
Happy trading!
I made lots of embarrassing mistakes in my charts. Don't worry, once you learned, you will never forget.
Good that you can make the journey.
I'd re-read the post to which you refer at least one additional time. I don't recall advising anyone to ignore Volume.
- Spydertrader
Quote from Spydertrader:
I'd re-read the post to which you refer at least one additional time. I don't recall advising anyone to ignore Volume.
- Spydertrader
1/2 hour wasted trying the search function turns up nothing. Maybe Jack said something similar?
What's his names again? I'll try those.
Jack Hershey
Grob109
bubba7
Haroki,
What I heard Jack say, in person, is that once volume is extreme and several bars back to back are extreme, you look at all extreme bars as roughly the same volume.
What I heard Jack say, in person, is that once volume is extreme and several bars back to back are extreme, you look at all extreme bars as roughly the same volume.
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