Spydertrader's Jack Hershey Futures Trading Journal

[Jander]

Quote from bundlemaker:

I was looking for a way to get onboard the downtrend as I wasn’t able to trade earlier.

~FWIW~

I think this is your only problem. This clearly says 'predicting' to me. You were predicting that the downtrend would continue, which for whatever reason it obviously did not.

If you decide to stick around, my advice is to just relax a little bit. I have tried this and has done wonders for me lately. Here we are arguing about a tricky situation that lost you 2 pts, after the market tanked straight down for 25pts.

I stand firm on my assertion that entering on retraces is quite difficult. A good bit of the time that retrace is actually the new dominant and you missed a change signal along the way...

In any event, let's trek forward. Good trading to everyone

 

[Merovingian]

This is the criteria i am using for volume pace:

Extreme - +35k and up
Fast - 20K-35k
Medium - 10-20K
Slow- 7.5-10K
Dry Up - <5K

Is this ok or should i adjust?

 

[Jander]

Quote from Merovingian:



Is this ok or should i adjust?

I really wouldnt be too concerned with it. I have 'eh, whatever' at <10k, then 10-25k is all pretty much the same, then over 25k is a money making jamboree...

 

[ericta]

Quote from Jander:

~FWIW~

I think this is your only problem. This clearly says 'predicting' to me. You were predicting that the downtrend would continue, which for whatever reason it obviously did not.

Predicting isn't that bad, as long as being flexible and HAPPILY take every wash ( BE/Loss/Profit) when needed without fear.

 

[Merovingian]

Quote from Jander:

I really wouldnt be too concerned with it. I have 'eh, whatever' at <10k, then 10-25k is all pretty much the same, then over 25k is a money making jamboree...

I like your idea of three zones, much simpler.

Thanks Jander.

 

[bundlemaker]

Quote from Spydertrader:

I gave specific directions which you did not follow, and which you now claim did not exist. I've repeated this process with you numerous times. You now want to know about Gaussian Peaks and their relationship to formations. You cannot follow simple directions even a small child could comprehend.

Mom: "Don't touch the stove, Bob, its Hot!"

Bob: Ouch!! "Mom!!, you didn't tell me not to touch the stove on Tuesday!! Now, I burned myself!! It's all your fault, Mom!!"

Mom: SMACK!!

Bob: "Waahaaaaaaa!!"

Seriously, place me on your ignore list, and go cry someplace else.

- Spydertrader

You're pathetic.

 

[PointOne]

Quote from Spydertrader:

<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1652881>

Yes! This is what I've tried to articulate several times - complementary channels with their respective FTTs giving you P1 and P3 (see attached real time annotated chart). Knowing how any market turns puts you in a calm place.

Note also how 20SMA behaves - if it's not in your channel or worse heading the other way, be cautious.

<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1653753>

 

[Vista]

Quote from Tums:

Today is like money lying on the floor.

Darn, I was kinda hoping I wouldn't see anybody write that, but some how I felt I would.

Since December, I've done nothing with this stuff, except stare at Spyder's ES charts everyday for hours and read the journal. I own a business, so right now I can only watch price & volume live every now and then, but today I wanted to try paper trading and see what I could do staying in all day and just reversing. I didn't even look at p/l until the end of the day. Unfortunately, from other's comments today, it looks like it was just an easy day and it was just beginner's luck.

14 trades

37.5 pts

 

[cnms2]

Reluctantly browsing through today's posts ... I found this interesting example.

You seem to say that a longer price bar for the same volume (or smaller) makes you anticipate a move in that direction. Rephrasing it: for the same price bar length, a lower volume is a signal of strength. If so, a question would be over what time span this signal has effect? The next couple of bars? Longer?

Looking at your example I wonder: the green highlighted bar (longer down bar on lower volume) anticipated:

1. the next two bars bump up?

or

2. the down turn that followed after that?

I prefer this kind of discussions ...

You know how we talk about channels being the highway, volume the gas pedal, bars' range the price velocity. Also the fact that the minority is in control: "that one side of the DOM has dried up".

I'd like to hear others' opinions on this too ...

<img src="http://www.elitetrader.com/vb/attachment.php?s=&postid=1653479">

Quote from Pr0crast:

Here is another example of what I said earlier about strong retraces. Snipped from the day I'm simtrading right now on Ensign.

What do you notice about this retrace? What I notice is that there was half as much volume as the last black bar, YET price traveled nearly twice as far. That has to mean something, like allowing 18k market orders to do twice as much damage. Now in this case the retrace didn't mark the beginning of the new channel, but if the black traverse following it had been one point lower, it would have. Point is that I view "strong" retraces as a pretty big clue, just like "decreasing peaks" or any of the other patterns we are supposed to notice.

 

[Vista]

Quote from bmonte:

Vista, if you want to see what Str/Squ should look like in Quotetracker, send me a private message and I will send you a screen shot with how the setup should look.

Thank you I'll do that. I followed an instructional pdf that was posted awhile ago, but I must of goofed somewhere. Recently I've been checking out EM-PREM.Z as a substitute for str/squ. It's got some interesting characteristics.