Spydertrader's Jack Hershey Futures Trading Journal

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Quote from ivob:

Hi,

Just a question.

Note the attached charts.

Moment 1:
we have an uptrend and just had VE. Everything fine. We got higher volume (+ higher price) than the previous peak so we can continue. It's very obvious at the moment we are having a flaw (hitch or dip) because volume based on PRV will obviously, mathematically impossibly, not be higher than 40% of previous bar with 42 more seconds to go. If such thing as a textbook flaw exists then this must be it. So I am holding long. There was no FTT whatsoever.

Moment 2:
Oops. What went wrong?

regards,
Ivo

Moment 1: flaw, so hold long
Moment 2: Oops!

My take:

Tapes, RTL Fan-out & End-of-bar BO Level:
<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1606155>

Pt3 Trade, ~1.5 points:
<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1606156>
 

Attachments

I just got PM'd that someone had trouble downloading the video.
I am walking out the door right now, and will not be back till this evening.
Please pm me if you have trouble with the video and I will have a new link posted this evening when I return.
First time doing this, so I will do everything to make it work easily for all to view.
For those that did view it , I hope you enjoyed it.
I'll get better at posting this kind of stuff.:cool:
 
Hi TIKI,

Thanks for this great video. It was very nice to see the market through others eyes :)

I too think this is one of the best ways to transfer knowledge. So, I hope this kind of videos can continue in the future.

Allow me some suggestions of some small details that could help:

1. Can you use your Tick Chart for seeing the 2-pair? I noted that you have less than 1 minute of data on your window, if the market is fast you will have much difficult to see them.

2. In order to better see the 2-pair you can use the help of Str/Squ. So, my suggestion is: it could help you if you have the OTR chart near the STR/SQU window. Remember, before a 2-pair you have a situation of STR (or SQU), then when you are having the 2 pair dance Str/squ is neutral, when you have the spike you have a SQU (or STR) and you see price translating in the new direction. It’s nice to see this two act in unison, but you need to have the two windows near each other, it’s easier IMO.

3. Your T&S window is very hyper, you could slow it down by using a filter to show only >50 or >100 contracts trades. What you want to see here is to see where the orders are being hit (bid/ask) (preferably the ones that can destroy Walls :) ).

Congrats for that trade, it was a very well executed Forest Trade :cool:

Best Regards,
 

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Quote from Pepe:

Hi TIKI,

Allow me some suggestions of some small details that could help:
Best Regards,


Pepe,
Thank you very much for your feedback.
I will change a few things around. I have tried many setups, and keep changing to find something that works best for quick data.

I do have a larger tick chart and es/ym on another screen to get a bigger picture.
Your advice is welcome, and appreciated.


I have attached a new link for the video for anyone who had trouble with the past links.

I can say that this link, is night and day for playback. This looks like the clarity when I look right at the screen.
Also there is a share media link at the bottom of the window.

This is screencast.com and looks to be very good.

http://www.screencast.com/t/rl9FeO3gMoT



Again, Have a nice weekend all.
 
Moment 2:
Oops. What went wrong?

Ivo .... My opinion is that nothing went wrong, your chart is great sample of how the volume leeds price. What I see is almost text book volume cycle. Everything is on the table no games played.
What we have here is rising black volume followed by decreasing black ( slow pace) and 1st increasing Red ...... Market just change his direction.... That is what I see only from looking 5 min ES and Volume.... Thank you for posting your chart ..

Regards Mr_Black
 

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I would also be willing to bet (because I wasn't monitoring at the time) that the big black bar had an intra-bar gaussian shift that is not observable in the image.

bottom line is that the price bar closed at less than half it's width and the volume was quite high.... that's a huge warning sign to me.
 
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