Spydertrader's Jack Hershey Futures Trading Journal
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hmm.. what the hell happened this morning. We start off with a blast in the dom direction, followed by a picture perfect retrace, and then an hour of nonsense. I find it very hard to stay focused during times like these, and of course I missed most of the resumption of the uptrend. How do you keep sharp during times like these, when you have no idea how long this chop will last? Worst part about it was all on extreme vol....
I think alot of the problem, for me atleast, lies with very shallow channels that you have to fan a couple of times and price action hugs the middle to RTL of the channel. After about 3 or 4 FTT->FBO it is hard to jump on the real breakout
I think alot of the problem, for me atleast, lies with very shallow channels that you have to fan a couple of times and price action hugs the middle to RTL of the channel. After about 3 or 4 FTT->FBO it is hard to jump on the real breakout
thanks bi9, pro, ezzy and r/r for your replies.
Be careful Ezzy, those bars do not fit definition of HVS at all, as volume was increasing for a number of bars, not decreasing.
R/R, your view makes total sense. The reason I've fought that mentality for so long is that on various occaisions, Spyder's words led me to believe that as a binary system, we should be able to identify change/continuation. Then I recalled Jacks words from one of the Tucson videos, where he said something like, "market is not telling me anything clear here.
I hope Spyder will correct me if this is flat out wrong, but I propose a more useful way to approach this is change/continuation/undefined. Undefined is for the person (ie someone else more skilled might not consider that same situation undefined).
Almost all of my "problems" could be considered "fixed" with this outlook. I've actually had some of my most satisfying days recently by simply accepting I don't know what's going to happen next once a lateral starts forming. As near I can tell, all laterals are signals for multiple changes on a very fine resolution, but I am simply nowhere skilled enough with the DOM to see those changes.
Be careful Ezzy, those bars do not fit definition of HVS at all, as volume was increasing for a number of bars, not decreasing.
R/R, your view makes total sense. The reason I've fought that mentality for so long is that on various occaisions, Spyder's words led me to believe that as a binary system, we should be able to identify change/continuation. Then I recalled Jacks words from one of the Tucson videos, where he said something like, "market is not telling me anything clear here.
I hope Spyder will correct me if this is flat out wrong, but I propose a more useful way to approach this is change/continuation/undefined. Undefined is for the person (ie someone else more skilled might not consider that same situation undefined).
Almost all of my "problems" could be considered "fixed" with this outlook. I've actually had some of my most satisfying days recently by simply accepting I don't know what's going to happen next once a lateral starts forming. As near I can tell, all laterals are signals for multiple changes on a very fine resolution, but I am simply nowhere skilled enough with the DOM to see those changes.
nk,
actually, it wasn't all that low, no where near DU levels. The data was just not congruent. In the instance I recall, the volume ebbs and flows of dominant and non-dominant simply were not there. So, the data sets were not stating anything with clarity at that point.
Jander,
I have attached my chart. It was done hindsight as I'm up quite late today. I believe that Oct will solve some of your issues. I often miss good moves due to an inability to see change at the LTL. Look at my pt3 annotation just after purple volatility expansion.
I honestly would not have seen this morning as chop. I would have seen it as dom-non/dom cycling occurring much more rapidly. My solution is to be ever vigilant about drawing in every potential channel and then using FTT's as my alert to watch for a new pt3. I have noticed that the biggest moves often come off a very innocuous, fast formed pt3's.
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