Spydertrader's Jack Hershey Futures Trading Journal
- Thread starter Spydertrader
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Exactly! It's the thought process that matters.
I remember Spyder was doing some chatting in the paltalk chatroom and this was very interesting for me even though it was just a short time. All it requires is recording the screen and talk in the mic and no one will even bother him with live questions like in the chatroom.
I know there's no obligation and Spyder can do anything he wants to but I just think this would be interesting.
regards,
Ivo
So why not start with what you are doing correct (rhetorical)???!!! Because that is how one is supposed to progress. You stick to what you do know and throwout (ie. DON'T GUESS ABOUT) what you don't know. I couldn't tell anyone crap about a harmonic and trading and I certainly do not feel incomplete about not using it. Additionally, if you are a beginner why are you looking INTRA BAR?
BM. Your video is superb. It is difficult for me to understand how you, as the author of the video, has implementation difficulties. What is missing is a barrier that you need to figure out since it seams as though you have sufficient pieces but don't know what it takes to connect them??? If you have been around this block for 8 years, surely there must be something that you are attempting to do different this time around...
Spy has done narrations in chat rooms (ET & PT) many times, both live and as debrief. I have posted the transcripts on this thread. For those interested, you can go back to read the time stamped transcripts, along with your chart on the side as reference. If you go through them bar-by-bar, you should find answers to a lots of your "What was he thinking" questions.
09-21-2007 ES
- Spydertrader
- Spydertrader
I raised this question back in early August with a specific example. (p826) The only conclusion that I have been able to reach is to use the idea of "formations" wherever possible. i.e. ignore the black/red flipping until price exits the formation on increasing prv. If it's opposite to the way anticipated, get out or reverse. However, waiting for increasing prv to appear, either on ES or ym, can frequently mean that price has moved significantly before a decision can be made. Should one hold if price moves in the direction opposite to what was anticipated but on reducing volume?? I am still not clear on this point.
I expect that this hurdle is the consequence of not being able to use the finer tools with any consistency. Str/squ seems to be totally schizophrenic and far too many games are played on DOM for me to tell what is real or fake.
Quote from dkm:
I expect that this hurdle is the consequence of not being able to use the finer tools with any consistency. Str/squ seems to be totally schizophrenic and far too many games are played on DOM for me to tell what is real or fake.
If you draw in the formations as soon as the second bar in the formation develops, you'll easily see the market has paused to ask you, "Are you sure you are on the right side of the market?" One needs no other tools, but the ES chart and PRV, to see this phenomenon unfold. While inside the formation, price often oscillates - as does volume color. However, none of this matters until Price breaks out of the formation (and the High / Low of the previous bar). Until this event occurs (Price Breakout on increasing Volume) there is nothing to do but wait. No action to take, No question to answer.
As I indicated, in my posts at the beginning of the month, occasionally, one needs to remain alert for a couple of unexpected sequences. The first, a formation FBO, sees price exit the formation on increasing volume only to return / close back inside the formation boundary. The second, an Outside Bar, often contains the Intra-Bar Gaussian shifts which cause so many traders difficulty. These two phenomenon simply do not occur frequently enough to become the mainstay of one's trading. With a formation FBO, one simply resets and waits for the next bar. With an outside bar, note the context, and either A. Place yourself back on the right side of the market, or B. Exit and await the end of the inside bars which surely follow.
The finer tools assist with these two aspects of the Formation BO only. One does not need the finer tools for the vast majority of the Formation BO. In fact, if you note the Gaussians before the formations, and then, note them again after the formations, you should see the /\/ and /\/ Gaussian changes rather than the typical R2R-\/ and B2B-\/. As such, one can anticipate these changes in advance.
Today, my chart was filled with formations. Certainly, much of the oscillating color concerns occurred within these bars. As such, simply wait until you have a BO on increasing volume to take the trade. As the BO occurs, the oscillation goes away, and translation takes over toward one direction or the other (up or down).
In fact, when you think you have a formation developing (even if later, it turns out you really didn't), start to think along the lines of 'wait' on the formation. I think you'll find this exercise allows a trader the time needed for the market direction to unfold.
1. Do I want to take a trade?
2. Can i take a trade?
For a beginner, as long as Price resides inside a formation you cannot take a trade (even if you wanted to).
- Spydertrader
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