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Spydertrader's Jack Hershey Futures Trading Journal
- Thread starter Spydertrader
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Other than an extremly Bullish tape was there anything in the ES or YM charts that indicated Continuation of the Long position at the 255 ES bar ( Circled in Red ).
The 255 ES bar had inc Red PRV with an Extremly Low volatility Range bar.
The 255 ES bar had inc Red PRV with an Extremly Low volatility Range bar.
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Quote from 8833broc:
Other than an extremly Bullish tape was there anything in the ES or YM charts that indicated Continuation of the Long position at the 255 ES bar ( Circled in Red ).
The 255 ES bar had inc Red PRV with an Extremly Low volatility Range bar.
I show that bar being a volatility expansion and therefore cannot have inreasing red volume. Even the YM at the same point shows increasing price. I see increasing black, followed by decreasing red during that bar for the start of a retrace to a steep RTL.
-Mike
Quote from 8833broc:
Other than an extremly Bullish tape was there anything in the ES or YM charts that indicated Continuation of the Long position at the 255 ES bar ( Circled in Red ).
See attached. Note the closes. Price is moving laterally. We have continuation here (or more appropriately, lack of change.
- Spydertrader
<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1592202>
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For the beginning of the day...is it ok to draw channels into the open using the overnight session or even previous day??
Quote from RedDuke:
I know that it is a part of the plan to do video capture in December, but I was hoping you can make several of them during this fall.
I once thought as you do now.
Believe it or not, consideration was once given to purchasing a laser recording device (similar to what is used in the advertising industry) in an effort to record where Jack placed his eyes every second of the trading day. The thought was, if we could only know what Jack chose to view at each second, we might then understand what Jack saw in the Price and Volume bars.
In hindsight, what a ridiculous plan that was.
You see (and I am sure Mak will tell you the very same thing), it isn't important at all to view the market exactly the same as I, Jack or Mak does. In fact, quite the opposite. Mak sees things differently than myself, and I often view the market significantly different than Jack. What is paramount to the learning process is this. Each of us ends up at the exact same place - continuation or change.
The goal cannot be to 'see' things as Mak, Spyder, Jack, Steve, Bearbelly, Avi 8 (or anyone else profiting) does. The goal must be simply to see.
You may pick up other things from videos (By example, you may note how I didn't even care when I made that error, I just reversed instantly), but you won't learn to 'see' the market. After all, Jack has made many videos and given many lectures with regard to how this stuff works. Those that 'see' the big picture here, didn't get it by watching a video or sitting in a class.
I understand the thought process, and I do empathize with the frustration experienced by those who believe the best way to learn this stuff is by example. However, the overwhelming evidence indicates clearly this is not the case. The best (and only way to learn this stuff is by building the correct mental pathways developed from watching the market itself.
Good Journey to you all.
- Spydertrader
Quote from Failure2Travers:
For the beginning of the day...is it ok to draw channels into the open using the overnight session or even previous day??
Yes carry over channels are drawn using previous day's bars (9:30am to 4:15pm EST).
Spyder does not use the overnight session for his CO channels.
09-04-2007 ES Chart.
Today provided numerous examples of formations. Note how Price and Volume (PRV also) reacted inside these formations. Compare your observations to what takes place when Price translates (continuation / not inside a formation).
- Spydertrader
Today provided numerous examples of formations. Note how Price and Volume (PRV also) reacted inside these formations. Compare your observations to what takes place when Price translates (continuation / not inside a formation).
- Spydertrader
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Hello,
I apologize for intruding. My sole purpose is to resolve and complete an interaction that transpired with Spyder in this thread. I posted several days ago that Spyder told me âyou can not know a flaw until after the factâ. He responded by saying âshow me where I said thatâ.
(http://www.elitetrader.com/vb/showthread.php?s=&threadid=83604&perpage=6&pagenumber=887 3rd post down)
Here is the answer to that request. It has taken me probably 20-30 hours of searching for this (out of enough material on the subject to fill a library), thus the delay in posting an answer.
Open the zip file and listen to the 14 second long snippet of a telephone conversation between me and Spyder. Itâs as plane as can be, he said âyou must wait until the next barâ. Those are his exact words in his own voice. How would any of you reconcile that except as a direct contradiction to his response to me. Now, Spyder may argue that isnât what he meant and that itâs my fault for misinterpreting. Fine. But each of you needs to ask yourself how you would have interpreted his words. Iâve asked about a dozen people off this board, and every single person said it was obvious to them what he meant: you canât know itâs a flaw until after the fact. No mention of any qualifier was made during the full conversation. Nothing like âlater youâll learn how to do this, right now you canâtâ. Nothing of the kind.
I invite everyone to be very careful and note how slippery the slope is when you are depending on a teacher who says one thing on one day and something different on another. It doesnât matter what the reason might have been. I donât believe Spyder did this on purpose. I suppose he canât even tell heâs doing this, just as Iâm blind to some of what my own patterns produce. But, every excuse in the world (like, âyou took me out of contextâ) doesnât make a difference to the student. And the easy way to eliminate the problem is to simply demonstrate that which Spyder appears unwilling to do.
My offer to produce the most rock solid video lessons on the face of the planet still hold. All that is required is for Spyder to share the needed time with me, at his convenience. I will pay for my own travel expenses and production costs. Iâll even host the videos at my own cost. And in the end, it would save Spyder himself scores of hours from not having to explain so much repeatedly.
Again, my apologies for intrusion. I felt that making a response to Spyderâs own request for showing him where he said this, was something I owed myself. I had (via email earlier today) given Spyder a heads up on this and he chose not to respond privately. As he has already posted todayâs chart, I assume he also checked his email.
Thank you for your consideration, one and all.
I apologize for intruding. My sole purpose is to resolve and complete an interaction that transpired with Spyder in this thread. I posted several days ago that Spyder told me âyou can not know a flaw until after the factâ. He responded by saying âshow me where I said thatâ.
(http://www.elitetrader.com/vb/showthread.php?s=&threadid=83604&perpage=6&pagenumber=887 3rd post down)
Here is the answer to that request. It has taken me probably 20-30 hours of searching for this (out of enough material on the subject to fill a library), thus the delay in posting an answer.
Open the zip file and listen to the 14 second long snippet of a telephone conversation between me and Spyder. Itâs as plane as can be, he said âyou must wait until the next barâ. Those are his exact words in his own voice. How would any of you reconcile that except as a direct contradiction to his response to me. Now, Spyder may argue that isnât what he meant and that itâs my fault for misinterpreting. Fine. But each of you needs to ask yourself how you would have interpreted his words. Iâve asked about a dozen people off this board, and every single person said it was obvious to them what he meant: you canât know itâs a flaw until after the fact. No mention of any qualifier was made during the full conversation. Nothing like âlater youâll learn how to do this, right now you canâtâ. Nothing of the kind.
I invite everyone to be very careful and note how slippery the slope is when you are depending on a teacher who says one thing on one day and something different on another. It doesnât matter what the reason might have been. I donât believe Spyder did this on purpose. I suppose he canât even tell heâs doing this, just as Iâm blind to some of what my own patterns produce. But, every excuse in the world (like, âyou took me out of contextâ) doesnât make a difference to the student. And the easy way to eliminate the problem is to simply demonstrate that which Spyder appears unwilling to do.
My offer to produce the most rock solid video lessons on the face of the planet still hold. All that is required is for Spyder to share the needed time with me, at his convenience. I will pay for my own travel expenses and production costs. Iâll even host the videos at my own cost. And in the end, it would save Spyder himself scores of hours from not having to explain so much repeatedly.
Again, my apologies for intrusion. I felt that making a response to Spyderâs own request for showing him where he said this, was something I owed myself. I had (via email earlier today) given Spyder a heads up on this and he chose not to respond privately. As he has already posted todayâs chart, I assume he also checked his email.
Thank you for your consideration, one and all.
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