He just starting to warm up . . . Wait till the next post. Gif's only get better !
Nice trade.
Spydertrader's Jack Hershey Futures Trading Journal
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He just starting to warm up . . . Wait till the next post. Gif's only get better !
Nice trade.
My first post on on a Spydertrader thread. I have a question, forgive me if it has been asked before I must have missed it in the tens of thousands of posts!
How many bars does it take to form a FTT? For example in an up channel does it require a high, a higher high (the FTT bar) and a lower high? Or perhaps a low needs taking out to confirm the FTT? (i.e. you have a high and then the previous bars low taken out).
Seems to me if you wait for a bar after the FTT to confirm that its extreme point is actually an extreme you will be late taking action. If on the other hand you take action on what looks like an FTT bar you may have the next bar make a higher high and a higher low (i.e. the failure was not a failure).
Actually you cant really be sure an FTT is an FTT until you get a BO or a FBO as price may continue on to the oustide channel line? (Oh I guess you could get an FTT in the other direction).
I know this is a real basic question but important to get absolutely correct.
Thanks in advance.
How many bars does it take to form a FTT? For example in an up channel does it require a high, a higher high (the FTT bar) and a lower high? Or perhaps a low needs taking out to confirm the FTT? (i.e. you have a high and then the previous bars low taken out).
Seems to me if you wait for a bar after the FTT to confirm that its extreme point is actually an extreme you will be late taking action. If on the other hand you take action on what looks like an FTT bar you may have the next bar make a higher high and a higher low (i.e. the failure was not a failure).
Actually you cant really be sure an FTT is an FTT until you get a BO or a FBO as price may continue on to the oustide channel line? (Oh I guess you could get an FTT in the other direction).
I know this is a real basic question but important to get absolutely correct.
Thanks in advance.
start reading the journal from the beginning (actually, procrast made it easy for you and compiled 5 initial volumes for you to print out and read.). Don't look for spoon fed answers because that ain't gonna happen. In fact, it can't happen
here's a drill.
annotate 100 5 min es charts in hindsight.
actually, print them out and do it. annotate the gaussians.
don't worry about getting it right or wrong. just do it.
IF you want extra credit, print out the corresponding 2 min ym charts and do the same thing.
do the same in real time when the market is open. Also, record it if you can. extra credit for doing same on ym.
doing these drills will be far more productive than seeking an answer to your question AT THIS TIME.
DO write your questions down. Just don't be in such a hury to answer them or have them answered.
bundlemaker's problem is one of impatience and mistaking motion for progress. do not fall into the same trap.
this is all my opinion of course.
I couldn't agree more. Over and over throughout this thread, it's been said, "Its the journey, not the destination." If you want to learn this method, you have to learn to "see" on your own. No one can do that for you. Sure this thread is here to provide guidance and encouragement, but the rest is up to you. IMHO, I think the ones who will master and excel at the JH method are those with bull-dog determination and faith that they will one day "see." Be prepared though, you will wear out more than a few pairs of sandals on this journey!
At some time or other I have read every post by Jack (and the family of pseudonyms
) at least twice probably more. I have read Spyders Journals once though to be honest skipped a lot of the stock stuff. There are tens of thousands of page possibly hundreds of thousands, I am loath to read them all again to find this one specific thing. As I said forgive me if I have overlooked something. I have not reviewed all the Tuscon videos in sequence (I have watched them piecemeal) I am doing that right now. What I am trying to say is this isn't just some lazy arse question I draw channels and annotate charts day in day out and have done for many years, that can be done asleep. I understand what a FTT is conceptually. I know when & how I draw them, I am not sure it is correct.I wonder if you understand the question? Forgive me if I have not been clear. I can re-phrase it if you like. Do you know the answer? (and more to the point whether it is actually held where you have directed me). It is a very specific question. It would help me out to get a definitive answer from someone that knows. I'd certainly be very greatful. I know I could re-read all the posts along with all the noise and flames looking for an answer but really that seems a fairly inefficient and counter productive way to do it. Just to repeat this isn't out of laziness I have looked, and not found, the specific information I am searching for. (I can be pretty myopic sometimes so it may well be a failing of my perception skills). For example I have re-read every single post on ET that contains the search term FTT (2460 posts) and have either some how missed or just as likely failed to grasp this.
I think we all know what a FTT actually is its a pretty fundamental and important concept. Knowing what something is and having a rigorous definition is quite different.
Cheers.
Nkhoi,
Thanks - in some ways thats good to know. To me it's a pretty important piece of the puzzle. Every now and then I get to wondering if there is another way to do it or something key I might have missed (like its simply LH HH LH over 3 bars).
You know what, if someone asked me how I did it I am not sure I could rigorously define what I do, its fairly discretionary based on volume, bar spread, bar close, tape etc. Of course for that reason I sometimes get it wrong which is why every now and then I get to thinking I need to look at this again.
Cheers.
P.S. Really enjoying the Tuscon videos they are grrreat - thanks to all involved.
Thanks - in some ways thats good to know. To me it's a pretty important piece of the puzzle. Every now and then I get to wondering if there is another way to do it or something key I might have missed (like its simply LH HH LH over 3 bars).
You know what, if someone asked me how I did it I am not sure I could rigorously define what I do, its fairly discretionary based on volume, bar spread, bar close, tape etc. Of course for that reason I sometimes get it wrong which is why every now and then I get to thinking I need to look at this again.
Cheers.
P.S. Really enjoying the Tuscon videos they are grrreat - thanks to all involved.
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