Spydertrader's Jack Hershey Futures Trading Journal

[stepan7]

Quote from TIKITRADER:

Bid Side:

Maybe I have completely misunderstood you, on the Bid side?
Please correct me if I have.

Market is supply , and hit the bid (demand)?

Review this

http://www.elitetrader.com/vb/showthread.php?s=&postid=347893&highlight=placards#post347893

"go look to see who is the minority and join up with them."

"Interestingly enough, the losers go with the majority."

 

[ivob]

Another nice DAX trade using JH system.

Note the grey downchannel. Breakout happened but we still needed a point 3 down (or at least an attempt...) which came but failed to continue and resulted in FBO and FTT at the same time.

Note the red FTT and the volume levels compared to the volume levels earlier at the red point 2. Red volume was decreasing (compared to earlier) and black increasing (compared to earlier).

Entered at 7700, exit at 7726. (one DAX point is 25 euros and 1 euro is 1.36 dollars )

Every day one of those and I'm a happy camper.

regards,
Ivo

<IMG SRC="http://www.elitetrader.com/vb/attachment.php?s=&postid=1592912">

 

[Mr_Black]

That was a nice bread and butter trade Ivo.... congrats...

 

[Spydertrader]

<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1593352>

 

[Failure2Travers]

I thought I had a correct channel drawn. Price was traversing perfectly and then broke out. There was, however, no FTT. When we do not see an FTT during price movement, and it breaks our trendline, does this mean we just need to readjust the channel (had the wrong pt. 3)?

 

[Tums]

Quote from Failure2Travers:

I thought I had a correct channel drawn. Price was traversing perfectly and then broke out. There was, however, no FTT. When we do not see an FTT during price movement, and it breaks our trendline, does this mean we just need to readjust the channel (had the wrong pt. 3)?

http://www.elitetrader.com/vb/showthread.php?s=&postid=1453716&highlight=fan+gaussian#post1453716

http://www.elitetrader.com/vb/showthread.php?s=&postid=1490394&highlight=fan+gaussian#post1490394

 

[Steve Tvardek]

Post a screen shot, chances are you didnt have the most appropriate channel drawn in. That would be my guess why you didnt get an FTT prior to the BO.

Quote from Failure2Travers:

I thought I had a correct channel drawn. Price was traversing perfectly and then broke out. There was, however, no FTT. When we do not see an FTT during price movement, and it breaks our trendline, does this mean we just need to readjust the channel (had the wrong pt. 3)?

 

[ivob]

Difficult afternoon.

One of the most difficult thinks for me is that I often stick to my (trading) rhythm although the rhythm of the market has changed...

Sometimes the smallest FTT like bar has to be traded immediately followed by another one soon thereafter. No time to wait. Other times you can just look at the big picture and let price go for a long time + check PRV now and then. A potential FTT can be labeled quickly being a flaw and everything is fine. Plenty of time.

Partly it has to do with volume levels. When levels get lower there are more actions involved and this requires more skill. But I do remember a few days ago when trends continued a long time and volume levels were not that high....

I guess volume and volatility are not the same although there is a relation. What more, other, things can we consider to get any indication of the length of the trends?

Any tips?

regards,
Ivo

 

[Spydertrader]

09-05-2007 ES Chart

- Spydertrader

 

[Spydertrader]

Quote from ivob:

I guess volume and volatility are not the same although there is a relation. What more, other, things can we consider to get any indication of the length of the trends?

Study the Gaussians and their relation to Price Movement. Start in hindsight, then learn to do the same in real time. There is more here than initially meets the eye.

- Spydertrader