Spydertrader's Jack Hershey Futures Trading Journal
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YM2-ES5 10-16-2007
This evening I was reading a chat log from earlier in the year and found these words from Spyder...
Spydertrader (Jun 11, 2007 2:55:06 PM)
"the biggest difference between most of you trying to learn and what i do is you all mostly REACT rather than learn to anticipate what comes next..."
Spydertrader (Jun 11, 2007 2:55:37 PM)
"you MUST learn to think into the future and evaluate the present as the future moves into the NOW..."
http://www.elitetrader.com/ch/DigiC...t/Transcripts/Elite_Trader_Chat/20070611.html
Amazing stuff!
This evening I was reading a chat log from earlier in the year and found these words from Spyder...
Spydertrader (Jun 11, 2007 2:55:06 PM)
"the biggest difference between most of you trying to learn and what i do is you all mostly REACT rather than learn to anticipate what comes next..."
Spydertrader (Jun 11, 2007 2:55:37 PM)
"you MUST learn to think into the future and evaluate the present as the future moves into the NOW..."
http://www.elitetrader.com/ch/DigiC...t/Transcripts/Elite_Trader_Chat/20070611.html
Amazing stuff!
Here is my updated blotter from yesterday and a pm to and from Spyder. Please note this is not showing off exercise but to encourage other residents on this forum that it can be done.
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"You should not only post your blotter in the futures Journal, but also, repost this PM with it. You have provided some excellent insight here, and I really think many would find your blotters and this PM helpful.
- Todd"
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callmate wrote on 10-16-07 05:12 PM:
Thanks Todd, the daily range was about 10 points and I caught 6 points of it, then stopped trading as I didn't want to give my gains away like I did few weeks ago. All about confidence building. I'm only going to post my blotter for few more days for Bob's benefit. This way I am not sending my blotters to him personally, he can see for himself that it can and does work.
You just have to give it time and train your eyes for few patterns first, namely FTTs and 123s. No point making things harder than they really are.
I wish to remain humble at all times and not get excited, markets have a good way of making people humble if you know what I mean!
Thanks once again for all you have done for this community, always grateful to you and Jack Hershey for giving it so freely!
Quote from callmate:
Here is my updated blotter from yesterday and a pm to and from Spyder. Please note this is not showing off exercise but to encourage other residents on this forum that it can be done.
--------------------------------------------------------------------------------
"You should not only post your blotter in the futures Journal, but also, repost this PM with it. You have provided some excellent insight here, and I really think many would find your blotters and this PM helpful.
- Todd"
-------------------------------------------------------------------------------
callmate wrote on 10-16-07 05:12 PM:
Thanks Todd, the daily range was about 10 points and I caught 6 points of it, then stopped trading as I didn't want to give my gains away like I did few weeks ago. All about confidence building. I'm only going to post my blotter for few more days for Bob's benefit. This way I am not sending my blotters to him personally, he can see for himself that it can and does work.
You just have to give it time and train your eyes for few patterns first, namely FTTs and 123s. No point making things harder than they really are.
I wish to remain humble at all times and not get excited, markets have a good way of making people humble if you know what I mean!
Thanks once again for all you have done for this community, always grateful to you and Jack Hershey for giving it so freely!
Thank you very much callmate and congratulations to you. I make the assumption I am the Bob to which you refer to
I am ashamed of some of the things I have said here. I have no excuse. I can only say I have been scared to death about figuring this out. I mean that quite literally. In spite of what some might interpret my words to mean, I have never doubted Jack's or Todd's capabilities or their success. The things I said were not well thought out "levers" to try and extract what I believed I needed.
I have doubted my own abilities. I continue to practice each day, and it feels more like failure than success to me, but what the hell do I know. Several others have helped me personally and thank you again to each of you.
I have reviewed all the replies (especially those from Todd) after my freakouts. I accept his assessment of me. Now if I could only figure out how to change
What woudl have told me that this up channel was only a leaf in an overall down channel forest level view? I saw the gaussians as a bullish uptrend and increasing black volume on the BO made me get long. What should I have seen that would have told me that I was just fanning out the big picture down channel? Attached is my chart and commentary. Thanks.
My opinion is you did nothing wrong. The dominant direction switched back to down later on.
I don't think there was any clue that we were going to drop big time when you went long.
EDIT. My chart shows a series of 3 pennant formations from 11:40->12:05 basically CCC and the breakout of the pennant tells you the new dominant direction.
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