Spydertrader's Jack Hershey Futures Trading Journal

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The relative larger red volume bars and lower black bars, as well as the overall volume decrease with the price increase make me anticipate that this is an up retrace in a down trending channel.

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Thank you cnms2, wonderful, traders helping traders.:p
 
This is a two fractal volume superposition example (the higher frequency fractal has a smaller amplitude). The resultant shape is highly dependent on the phase difference between waves. The yellow highlights show the falling volume phase of the higher fractal, like in a retrace situation. The blue volume bars sample and integrate small slices of the "sum" waveform.

<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1674719>
 

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Quote from callmate:
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Thank you cnms2, wonderful, traders helping traders.:p [/B]
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Indeed seconded, thanks for the links.
 
Quote from BlowFish:

Also I must admit I have a bit of trouble getting my head around the 'zig zag' price curve chart. For example it has a line for distribution but none for accumulation (though it has dry up). I dunno it just dosen't quite seem orthogonal.

I am quite happy with a model that has up down or sideways but this chart seems to have more than that. However I am curious how you can have distribution without accumulation.

Cheers.
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I don't understand your question with reference to the zigzag diagram. Take another look. If it's not showing accumulation then it is distribution, 1 or 0.

Price action tells you if you are in Acc or Dist - it's the ebb and flow of price (not noise) as it trends on the higher fractal. Jack suggests monitoring stochastic(5,2,3) 50% crossovers to see the transitions (he uses price action / harmonics to infer the underlying acc/dist frequency). There is a lot of material on this already.

It's interesting that you note that the P/V relation is observable given how many people stubbornly refuse to see it.

Jack
The overlapping of consecutive bars during a traverse (coarse) allows you to see the ebb and flow within traverses and allows you to understand the dominance of A or D for that traverse.
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Quote from Spydertrader:

I once thought as you do now.

Believe it or not, consideration was once given to purchasing a laser recording device (similar to what is used in the advertising industry) in an effort to record where Jack placed his eyes every second of the trading day. The thought was, if we could only know what Jack chose to view at each second, we might then understand what Jack saw in the Price and Volume bars.

In hindsight, what a ridiculous plan that was.
Snip

- Spydertrader
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Post necromancy, slightly OT too, apologies. This caught my attention however. A similar experiment was done with chess grand masters and compared with good club level players.

It was found that club players would look all over the board evaluating what was going on and what was influencing what. Grand masters would tend to completely focus on half a dozen squares usually in the centre of the board. Occasionally there eyes would flick across to another piece and then return to where they are focusing.

Seems the instructions when to look at finer tools (and when not to!) are pretty clear. I do wonder if higher resolution traders spend more time further down the rabbit hole? Seems reasonable to think they might.

Cheers.
 
Quote from PointOne:

I don't understand your question with reference to the zigzag diagram. Take another look. If it's not showing accumulation then it is distribution, 1 or 0.
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Ahha a fundamental flaw on my part! The Whycoff 'model' has 4 phases rather than binary. He has accumulation, distribution, mark up, mark down. In his model A/D is lateral movement (similar to CCC I guess) between the moves up and down.

I will re-evaluate the diagram from the point of view that the market is always either accumulating or distributing. Thanks.

P.S, its interesting I have not even thought of accumulation distribution for some months now. Those diagrams awoke old memories.
 
Quote from BlowFish:

I do wonder if higher resolution traders spend more time further down the rabbit hole?
Cheers.
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Throughout my entire life, at some point in time, I have had to cross a street corner.

As I stand at the intersection, facing the roadway, the process begins.
I begin to monitor and analyze the situation. Understanding if my journey can continue, hold , or even change course, begins with the data that is collected.
After sufficient data has been gathered, I begin the decision making process, as to what actions are necessary with the information present at the time.
Data sweep complete, decision is made, and time to take action.

The travels continue, crossing the roadway.
As I walk the intersection, the process begins again.
MADA.
I begin to monitor and analyze the situation for continuation or changes.
Updating the data to the now, the decision and action come into play to complete this trip.
All is good , and now on a new corner to begin another street to travel.

As for myself, the channels of any fractal, are the streets I cross.
I will M, A, D, A, at every fractal necessary at the moment, to ensure I am on the right side of the market.

On this journey, I face many "streets" to cross.
This is a journey I truly enjoy. . .

The road ahead had so much to offer.
 
Quote from TIKITRADER:

This is Friday Nov. 9 live.

This is a video of the ES 5 minute . This is live price and annotations.

I have added my thoughts to the section of time with voice.
This is the time period of around 2pm to 2:45pm.

I follow everything exactly as has been taught here by Spydertrader when watching the day play out.
The only thing I wanted to do was to add some of my personnel thoughts that have not been taught here, but are added in to my trading.

So you can hear my thinking as I am annotating. Voice has been added after video was filmed, so I could speed up the sections.

Please remember, this is just how I think . Not to say it is the way everyone should.

Hope you enjoy this, and have a great weekend !


:cool:

video link: http://www.screencast.com/t/iX6eeMzms
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Nice! Thanks for posting.
 
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