Spydertrader's Jack Hershey Futures Trading Journal

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Quote from Ezzy:

Not so fast, don't end the lesson yet. That was a great segue way into . . . something :D
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For months, some people stare at the same charts everyday seeing nothing different, yet others, look at the same chart and see all they need to profit. The chart did not change. A new, special, double-secret tool didn't unlock the door to success. All the information ever needed sits 15 inches from all our faces each day. Looking at the same chart from a different point of view might prove all that is needed for some to turn the corner.

- Spydertrader
 
Quote from cnms2:

This is what I meant:

<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1648608>
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cnms2 - Now I am confused about the BO trigger that Spyder had in mind in this quote:

"However, none of this matters until Price breaks out of the formation (and the High / Low of the previous bar)..."

I take the "formation" to be the apex (red/green lines) and the BO point to be the H/L of the last bar in the apex.

What you are proposing would eliminate many of the FBO's at the cost of the later entry.
 
Quote from cnms2:

I guess that Spyder's dancer warns us that what we see when we trade might be more in our heads. ..This explains why the market works: we all look at the same thing, but see opposite things ... :) Scarry! :(

Looking at channels and gaussians is like looking to the left or the corner of the picture ... :confused:
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It's pretty wild how we all see and notice different things. When system testing or proving an idea, it's very instructive to take the opposite view or side and try to prove that as well.

Here's a couple interesting links that deal with perception:

http://www.aber.ac.uk/media/Modules/MC10220/visper03.html

http://www.age-of-the-sage.org/psychology/social/hastorf_cantril_saw_game.html
 
This is what I consider formation BO, and it's possible that Spydertrader sees it differently. On the other hand I don't consider written in stone all these rules. Each one brings a few bits on information into my decision.

I'm sorry if I created some confusion with some of my posts. Maybe I should add a fine print to my posts: they are just my personal opinion, which is given as is, with no warranty. Although I believe it to be correct I don't assume any responsibility, and I don't guarantee that it won't change over time. Etc., etc., etc, ... :)
Quote from R/R:

cnms2 - Now I am confused about the BO trigger that Spyder had in mind in this quote:

"However, none of this matters until Price breaks out of the formation (and the High / Low of the previous bar)..."

I take the "formation" to be the apex (red/green lines) and the BO point to be the H/L of the last bar in the apex.

What you are proposing would eliminate many of the FBO's at the cost of the later entry.
More...
 
Quote from Spydertrader:

For months, some people stare at the same charts everyday seeing nothing different, yet others, look at the same chart and see all they need to profit. The chart did not change. A new, special, double-secret tool didn't unlock the door to success. All the information ever needed sits 15 inches from all our faces each day. Looking at the same chart from a different point of view might prove all that is needed for some to turn the corner.

- Spydertrader
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Like the carpenter with 20 years experience, repeating the 1st year 20 times. (One of my favorite examples from Jack, after having spent time in the trades, and seeing real life examples)

I think a lot of the learning frustration comes from not being able to change our perception and see or notice things differently from how we saw them before. And being stuck, not sure how to go about it, or force that change.

That's why it's great to have everyone participating in this forum, sharing their perceptions which might make things click for someone else.

Regards - EZ
 
Quote from cnms2:

This is what I consider formation BO, and it's possible that Spydertrader sees it differently. On the other hand I don't consider written in stone all these rules. Each one brings a few bits on information into my decision.

I'm sorry if I created some confusion with some of my posts. Maybe I should add a fine print to my posts: they are just my personal opinion, which is given as is, with no warranty. Although I believe it to be correct I don't assume any responsibility, and I don't guarantee that it won't change over time. Etc., etc., etc, ... :)
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:) I know you only speak your personal opinion and I have really appreciated your contibutions. Like I said I was wondering what Spyder had intended because there seem to be different views that are based on the level of confirmation that the individual wants as a trade trigger.
 
Quote from Spydertrader:

Sound familiar?



No, she doesn't. You do.

Here endeth the lesson. :D

- Spydertrader
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:D Fan of gangster movies?

Here endeth the lesson--Sean Connery--Untouchables.
 
Longer bar's BO means better confidence that the BO won't fail, but it comes later, giving up some opportunity. BO of the shorter bar comes with more risk and more opportunity. Give and take.

Yada, yada, yada ...
Quote from R/R:

:) I know you only speak your personal opinion and I have really appreciated your contributions. Like I said I was wondering what Spyder had intended because there seem to be different views that are based on the level of confirmation that the individual wants as a trade trigger.
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