Spydertrader's Jack Hershey Futures Trading Journal

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Can anyone that uses the YM to confirm Continuation/Change
comment on the attach chart and what they saw in the ym
that says continuation/change in the ES ?

The areas that I am most interested in are the areas that I circled or squared. If there are areas on the YM chart that says continuation/change that I havn't hilighted please let me know.


thanks,
 

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Quote from 8833broc:

Can anyone that uses the YM to confirm Continuation/Change
comment on the attach chart and what they saw in the ym
that says continuation/change in the ES ?

The areas that I am most interested in are the areas that I circled or squared. If there are areas on the YM chart that says continuation/change that I havn't hilighted please let me know.


thanks,
More...

My .02, FWIW-

10:20 - ym predicts the uptrend when the 10:18 bar forms the lowest low and isn't broken

11:05 - no clear signal that I can see, although it also makes a lowest low at 11:08, plus you have dec red Gaus on es.

12:05 - clear upturn on ym at 12:10, confirming rather than leading, in my eyes, since they both appear to go up at the same time.

13:10 - I see ym trailing es here by about 2 minutes ? Str/SQ shows nothing. Maybe with es DOM?

13:30ish - no clue what was going on there. The whole area through there looked like garbage to me.I would have sat it out and wait for a clear signal. "Wait for the next train."

14:30 - garbage also. I didn't see anything clear until 14:55
 
Quote from callmate:

I am only concentrating on Ftts and 123s at forest level.
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OK, these are general comments:

Annotate the YM 2 min chart first.

Match your gaussian annotations to your main channels first, add the traverses later. Mark the FTT volume bar.

Drop the bands. No clutter.

Make your 20 SMA blue, it makes it stand out and it's got to be blue. Blue.

Look closely at dkm's charts, they are very clear.

Make sure that for every channel RTL BO you see a corresponding x2x on volume.

Extend your RTLs further and clone LTL volatility expansions to keep track of these. They are very important.

Channels overlap, always.

Make your price bars slightly thinner so you can more accurately pick off the tops and bottoms of the bars. Yes, it matters.

Some of this is style but there is some substance in these comments too.

(BTW when posting charts it is nicer if they are scaled to fit into the width of the journal.)

P1
 
Quote from Spydertrader:

I cannot agree more with the above post. SCT is a consequence of the learning process. Many individuals (who have never even posted to this Journal) either use the concepts discussed here in concert with their own methods, or use a subset of the whole in an effort to profit from the market. As I outlined in the very first post of this Journal ..

The key to success here requires the individual to find what resonates with their own understanding, and exploit that understanding to their benefit. I see no reason to set arbitrary or artificial goals as a benchmark for progress.

- Spydertrader
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This makes total sense.

SCT being a consequence of the learning process - again, bang on.

My own journey with Hershey Channels saw the core tenets borrowed for application to forex (no volume!).

Instead, more reliance weighed on multi-fractal analysis to cue set-ups. Or as Jack puts it, 'the place where we hit home-runs.'

As I became more comfortable, double FTT bottoms emerged. Then breakouts. Often, I could sense it.

This 'filling-of-the-gaps', or growing confidence in market orientation, is SCT coalescing before my eyes.

Still a long way off. It takes a lot of courage to trade SCT. Or rather, knowledge/experience/skills. heh.
 
Quote from Spydertrader:

Jack's definition of a Hitch is different than my own.
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Spyder, your 5 posts on flaws this month were very helpful!

Would you care to elaborate your definition of a Hitch? You examples look like low volatility doji's with (I assume) low volume.
 
Quote from bmonte:

Would you care to elaborate your definition of a Hitch? Your examples look like low volatility doji's with (I assume) low volume.
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Glad you found the five posts useful.

My Hitch definition has a three or four tic range and very low Volume compared to the previous bar. The formation often looks like a 'plus sign' (+). Jack's definition has two adjacent bars with equal lows and equal highs (The same as my adjacent bar Even Harmonic formation).

- Spydertrader
 
Quote from Steve Tvardek:

Haha, that was my big trade today too so far, sold 2 lots at 8075 @ 13:00:18. You werent kididng, that was a perfect pt 3 sell, gaussians led the way :)

I used 12:35 as my FTT (therefore my sell was a pt 3 anticipated), I dont draw channels unless I have 3 seperate points, I can never make the gaussians work right for me unless I have 3 seperate points for my channels. To each his own I guess
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Hey Steve and Pr0,

I agree that the 13:00 EST zone turned out to be a textbook "new pt 3" entry, or maybe even an FBO if one started the channel a bit earlier.

Steve, the entire 13:00 bar looked pretty much like a flaw to me, even from a PRV point of view. From my replay, I only see 236 contracts traded at 13:00:20. If you happen to recall, I'm wondering if you wouldn't mind debriefing your entry. Yes, you're comment on the Gaussian (I assume an R2B being completed) makes sense. But I don't see the increasing red from a PRV point of view until much later, around 13:06:20.

13:00:20:
http://www.elitetrader.com/vb/attachment.php?s=&postid=1595639

13:06:20:
http://www.elitetrader.com/vb/attachment.php?s=&postid=1595640

As I'm zooming out a bit these days (Forest and Traverses), I'd appreciate any feedback you may have. Nice entry!

Thanks in advance,

spooz
 

Attachments

Spyder
I also found your posts on flaws and formations very well done. The way you broke down the flaws made it easier to distinguish which one it is IMO. The section on how to spot formations and what might go wrong was very clear, not leaving much to interpret. Thanks
I have 2 questions on the formations with respect to the YM.
Do you watch the YM for formations also? I noticed Jack refering to them in the video.
What are your thoughts on using the YM prv when the ES is in one of the formations? I noticed several times lately where the ES prv didn't show it would be increasing until the bar was well out of the boundry.
 
Quote from ticktrade:

Do you watch the YM for formations also? I noticed Jack refering to them in the video.
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Yes. When I am not travelling I watch both the YM and the ES for formations.

Quote from ticktrade:

What are your thoughts on using the YM prv when the ES is in one of the formations?
More...

The YM leads the ES, so it does make sense. Keep in mind that formations can last awhile, so not every formation 'breaks' after the second bar.

- Spydertrader
 
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