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Spydertrader's Jack Hershey Futures Trading Journal
- Thread starter Spydertrader
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Hey Gman,
We are entering lunchtime in the circled area. We would anticipate a lower volume pace during this period. With a lower pace we also anticipate the slopes of our current channels are probably not sustainable. Also with the flaws showing up in the down channel, we might need more information, look at the YM during this period. I have a nice pt 1 2 3 down channel on the YM all through lunch. Throughout the day we are still operating in the CO of yesterday, the up channel starting at 1110 is the start of a big retrace that never makes it to the CO RTL.
Your annotations look good, however it appears you might be mixing resolutions on your gau. I see forest level gau up to the start of lunch and then it appears to be tree level gau after.
Remember, try to relax, and be patient.
-Mike
We are entering lunchtime in the circled area. We would anticipate a lower volume pace during this period. With a lower pace we also anticipate the slopes of our current channels are probably not sustainable. Also with the flaws showing up in the down channel, we might need more information, look at the YM during this period. I have a nice pt 1 2 3 down channel on the YM all through lunch. Throughout the day we are still operating in the CO of yesterday, the up channel starting at 1110 is the start of a big retrace that never makes it to the CO RTL.
Your annotations look good, however it appears you might be mixing resolutions on your gau. I see forest level gau up to the start of lunch and then it appears to be tree level gau after.
Remember, try to relax, and be patient.
-Mike
Long time ET lurkerâfirst time poster. After a couple of half-hearted starts with both the equities and futures methodologies found here in these journals, I recently made the decision to âBEâ. Although I feel like Iâm light years behind the rest of the group, Iâm determined not to jump ahead before Iâm ready; as a result Iâm only using Januaryâs tools. I have two basic questions I am hoping someone could answer.
First, using only the tools from January (P,V, channels, Gaussians, and PRV) I had trouble with todayâs bars at 10:25, 10:30, and 10:35. In hindsightâit looks like a flaw but in real-time I saw a VE with extreme volume for the 10:25 bar followed by a bar with lower (but still very high) volume in the opposite direction followed by another bar with lower volume continuing in the new direction. To me, a newbie, this looked like an FTT at the 10:30 bar. Using Januaryâs tools, what did I misread?
Second, Jack has mentioned the importance of keeping a log. I found an Excel template for a log of his but I have been unable to find any examples of a completed log. Would someone be willing to post an example or point me in the right direction?
Thank you in advance for any help offered!
-river
First, using only the tools from January (P,V, channels, Gaussians, and PRV) I had trouble with todayâs bars at 10:25, 10:30, and 10:35. In hindsightâit looks like a flaw but in real-time I saw a VE with extreme volume for the 10:25 bar followed by a bar with lower (but still very high) volume in the opposite direction followed by another bar with lower volume continuing in the new direction. To me, a newbie, this looked like an FTT at the 10:30 bar. Using Januaryâs tools, what did I misread?
Second, Jack has mentioned the importance of keeping a log. I found an Excel template for a log of his but I have been unable to find any examples of a completed log. Would someone be willing to post an example or point me in the right direction?
Thank you in advance for any help offered!
-river
river-
I show a FTT also on the 1030 bar, followed by a FBO on the 1035 bar. The 1050 bar is a PT 3 down of a steeper channel.
It doesn't sound like you misread it at all. You could have reversed on the FTT and then reversed back when you saw the FBO, therefore staying on the right side of the market.
-Mike
I show a FTT also on the 1030 bar, followed by a FBO on the 1035 bar. The 1050 bar is a PT 3 down of a steeper channel.
It doesn't sound like you misread it at all. You could have reversed on the FTT and then reversed back when you saw the FBO, therefore staying on the right side of the market.
-Mike
Welcome River,
On my chart 10:25 was VE. I did consider 10:30 to be an FTT but look at the volume.... Not even half the volume of the 10:25 bar. The absolute volume doesn't matter. You need to compare it.
So my mind said "flaw" after this bar finished so I stayed short, also because there had not been any flaws yet. The next three bars confirmed the flaw: Price moving sideways (decr. black volume and decreasing red volume) in a downchannel meaning price will normally continue to go down.
As you are still busy with the January stuff don't worry about flaws and FTT's too much. There was a obvious downchannel and and as long as price stays in it everything is fine. Meantime you can just observe the FTT's and flaws etc. and learn about them.
Good luck with the trading / annotating.
regards,
Ivo
On my chart 10:25 was VE. I did consider 10:30 to be an FTT but look at the volume.... Not even half the volume of the 10:25 bar. The absolute volume doesn't matter. You need to compare it.
So my mind said "flaw" after this bar finished so I stayed short, also because there had not been any flaws yet. The next three bars confirmed the flaw: Price moving sideways (decr. black volume and decreasing red volume) in a downchannel meaning price will normally continue to go down.
As you are still busy with the January stuff don't worry about flaws and FTT's too much. There was a obvious downchannel and and as long as price stays in it everything is fine. Meantime you can just observe the FTT's and flaws etc. and learn about them.
Good luck with the trading / annotating.
regards,
Ivo
Quote from river:
First, using only the tools from January (P,V, channels, Gaussians, and PRV) I had trouble with todayâs bars at 10:25, 10:30, and 10:35. In hindsightâit looks like a flaw but in real-time I saw a VE with extreme volume for the 10:25 bar followed by a bar with lower (but still very high) volume in the opposite direction followed by another bar with lower volume continuing in the new direction. To me, a newbie, this looked like an FTT at the 10:30 bar. Using Januaryâs tools, what did I misread?
a log sample , are you visiontrader? http://www.elitetrader.com/vb/attachment.php?s=&postid=1523422Quote from river:
..
Second, Jack has mentioned the importance of keeping a log...
-river
Another newbie question about todayâs ES chart. I apologize for not having my chart to postâI closed my workspace before saving it.
I drew a downward sloping channel near the end of bar 3 using the first three bars of the day. From then until 11:10 when I had to end my annotating, I kept the same channel with the addition of 7 VEâs (I had an FTT at the 10:30 bar but then thought it was a flaw so I removed that from my chart). The Gaussian I drew had increasing red volume from the open until 10:25 and then decreasing red volume until 11:10 when I stopped. At that point, based on my Gaussian I was monitoring for âchangeâ.
Any comments on my chart annotation would be appreciated!
-river
I drew a downward sloping channel near the end of bar 3 using the first three bars of the day. From then until 11:10 when I had to end my annotating, I kept the same channel with the addition of 7 VEâs (I had an FTT at the 10:30 bar but then thought it was a flaw so I removed that from my chart). The Gaussian I drew had increasing red volume from the open until 10:25 and then decreasing red volume until 11:10 when I stopped. At that point, based on my Gaussian I was monitoring for âchangeâ.
Any comments on my chart annotation would be appreciated!
-river
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