Spydertrader's Jack Hershey Futures Trading Journal

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Quote from aeliodon:

Why are you done so early? Did you lose your discipline? I think a lapse in discipline is the only reason to shut off monitoring for the day.
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No, I didn't lose my discipline. My daily goal is 2- 4 points, once achieved, I tend to close my platform down, go for a walk, sim trade etc. This is merely a confidence building exercise.:D
 
Quote from cnms2:

analysis

<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1645161>
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Good job! Puts the doubters, crybabies, and flamers to rest.

Thanks for the encouragement.
 
Quote from Bearbelly:

You can always go back to the basics and add the indicators that Jack uses on his charts. If you dont trust your eyes the macd does a pretty good job of telling you when you have a trend and when you dont.
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will do, thank you BB.
 
Hi cnms2

If you are trading p3, would you exit at those yellow arrowed points,? If you do, do you exit the trades base on volume or TL crossing?

Thank you.
 

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It depends which channel you traded. In the first case it may have been right, or a little early. In the second case you could've hold. On the other hand, those are ~2 point bars, so it really matters where on that bar you traded. I look at volume trends, trendlines, and bar ends.

You quoted yesterday Spydertrader saying that he anticipates while the others react. This is an extremely valuable tip. Think about it: what front runs a green (black) volume increase? A red volume decrease!!!

It's all about Jack's 0,7,6,5,4,3,2,1,0, ...
Quote from ericta:

Hi cnms2

If you are trading p3, would you exit at those yellow arrowed points,? If you do, do you exit the trades base on volume or TL crossing?

Thank you.
More...
 
Quote from cnms2:

It depends which channel you traded. In the first case it may have been right, or a little early. In the second case you could've hold. On the other hand, those are ~2 point bars, so it really matters where on that bar you traded. I look at volume trends, trendlines, and bar ends.

You quoted yesterday Spydertrader saying that he anticipates while the others react. This is an extremely valuable tip. Think about it: what front runs a green (black) volume increase? A red volume decrease!!!

It's all about Jack's 0,7,6,5,4,3,2,1,0, ...
More...

Go long at 6 and short at 2 I assume is what you're saying.

If we are anticipating dont we attempt to get long at 0,7(frv)
 
In the spirit of this months topic I would like to post my first 5 trades from this morning.

This is also my attempt to get critiques of my trades and try to get some discussion going on this months topic in the syllabus.

My goal is to stay in the market all the time and use the additional signals for change mentioned by Spyder.

In my ES chart, I have marked by trades and how long each trade lasted by using arrows (red - short, green long) and attempted to show using the arrows the how much price moved against or in favor during the hold.

Here is a brief synopsis of the trades:
Trade 1: Went short when YM broke out of the pennant. 10:05 ES black bar was on decreasing volume (retrace) held. Reversed long when orange pt 3 channel formed
Trade 2: Should have reversed earlier @ the 10:30 bar (when the pt3 channel 10:20->10:30 pt 3 channel formed)
Trade 3: Could have reversed earlier in the bar. I have drawn a dashed brown line on my ym chart, should I have used that?
Trade 4: This is the one trade where I watched only price and took action. I should have held until the next bar according to the YM green channel. My only bad trade out of the 5.
Trade 5: Would have been nice to go long much earlier. I reversed when the pt 3 up channel formed.

Welcome any comments, what could I have done better especially taken action sooner.


EDIT: YM chart posted a few messages down
 

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Quote from cnms2:

In the first case it may have been right, or a little early. In the second case you could've hold.

It's all about Jack's 0,7,6,5,4,3,2,1,0, ...
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:) Thank you cnms2.
 
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