Spydertrader's Jack Hershey Futures Trading Journal

[8833broc]

CNMS2,

I am posting my trades primarily to: 1) show my trade flows 2) screen setups. I want others to see my results and to realize they are not alone in there struggles to understand this framework. The trading journey is highly personal for everyone.

MY trading is becoming LESS BAD and yes slowly profitable. I am learning to be flexible and to listen to the market.

I find it very valuable looking at screen setups and Entry/Exit information of experienced successful traders. Several people who trade this framework successfully have mentioned how flexible they are and how positions change as soon as they realize there interpretation of the data
set was wrong.

I DO REALLY REALIZE THAT THE FLOW OF TRADES THAT I AM POSTING WOULD BE FAR MORE VALUABLE COMING FROM SUCCESSFUL TRADERS than from myself.

My current problem is exiting Entries cause of an immediate 2 tic move against the position without paying attention to volume. Volume, on these moves, is frequently very low and is NOT signifying CHANGE. My next trading growth spurt will be to really internalize volume as a leading indicator.

 

[FerdinandAlx]

Quote from Tums:

Brain teaser for the weekend:

Here's a quiz for you.
I am sure you have seen the following situation. What signals you would have noticed along the way?

Hi there. I just started following this method so it would be interesting to see if I get this right.

A likely signal is a black 2 black 2 red formation. Decreasing volume after your point 3 would indicate change. Increasing red volume on the breakout would confirm this.

 

[Bearbelly]

Quote from Bearbelly:

When you start experimenting with reversing its a bit exasperating because of all the washes, small losers and winners which happen when you are not proficient at identifying the ftt's as they happen which causes you to give back much of what you gain but you also find that you are catching all of the longer moves. You are in a good spot then as all you can do is get better.

This morning is a great illustration of what I mean. Basically flat through three reverses but then you snag a nice one.

 

[ehorn]

As volume (and pace) lead price and volatility. I believe the principles teach us we "KNOW" what volume is and what MUST come next given the current pace... Then we watch for "What wasn't that"

Any thoughts appreciated.

Quote

There is no volume here, that makes a big difference for understanding whats going on. I dont think we can read this w/o the volume.

 

[R/R]

Quote from Bearbelly:

This morning is a great illustration of what I mean. Basically flat through three reverses but then you snag a nice one.

I agree this is the best way to insure being in all of the bigger moves and as we react faster to stay on the right side profitabilty shoud improve.
How did you handle the FBO? Did you hold long through it or reverse 2 more times?

 

[R/R]

Quote from makosgu:

ME TOO!!! ... Similarly. I would have seen and labeled the one bar FTT as a PT3 instead of PT1 and then noted the previous PT2 as a simultaneous PT1 of the new channel. snip...

 

[Bearbelly]

R/R

The first arrow is my initial entry, the next three are all reversals. The if/then sequence I am using causes me to take some heat at times. The last reversal long came all the way back and went .75 against but did not close below the trendline. I have found that if you try to keep things too tight it doesnt work. The price you have to pay is occasional 4-6 tick losses.

 

[FerdinandAlx]

I have noticed something in regards to point 3's:

I believe the party line is that point 3's should occur on a bar with increasing volume over the last bar, though I noticed that point 3's can often be drawn if the next bar has increasing volume in the dominant direction. Is my observation correct?

 

[Mr_Black]

My chart to bar # 26.....

 

[R/R]

Quote from bearbelly:

R/R

The first arrow is my initial entry, the next three are all reversals. The if/then sequence I am using causes me to take some heat at times. The last reversal long came all the way back and went .75 against but did not close below the trendline. I have found that if you try to keep things too tight it doesn't work. The price you have to pay is occasional 4-6 tick losses.

thanks
I can't recall for sure, but it appears that 10:55 broke the previous bar low on increasing PRV as it came out of a sym pennant. I seldom have the patience to wait to bar close. This is a problem for me because many of these do pop right back into the formation as this did.