Spydertrader's Jack Hershey Futures Trading Journal
- Thread starter Spydertrader
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Seeing a whole bunch of False FTT's. If I was trading with real money, I woulda blown out my account today. So thin and hard to read.
RT
RT
1. I show the lowest Volume bar of the day checking in around 7000 cars. Such levels do not define thin in the ES Marketplace.
2. I remain unfamiliar with the phrase 'false FTT' as used in your previous post. I suggest that if you think you see false FTT's then either a. you do not yet have the familiarity with the methods you believe you do, or b. you do not yet understand the basic concepts as described earlier in this thread. In either circumstance, I encourage you to review my recent long post. You might find the entire contents applicable to your current situation.
3. The farthest thing from your mind at this stage should be trading. Again, if you doubt the wisdom in these words, feel free to read the words of those who tested the waters earlier than advised. Jumping in well before you've absorbed and internalized all of the information contained in this thread insures one outcome.
Good Journey to you.
- Spydertrader
Chart for November 13 2007
ES 5minute chart
I made a couple of bucks earlyish, mornings like that re-enforce the over cautious (fearful)behaviour.
I missed the big move that started at about ten after 1.00 even though it came off one of my main multiday channels just didn't have a good read on the previous hour or so's volume so wanted to find my way again.
Cheers.
I missed the big move that started at about ten after 1.00 even though it came off one of my main multiday channels just didn't have a good read on the previous hour or so's volume so wanted to find my way again.
Cheers.
My fourth week (sixth time) watching and trying to a annotate real time.
Just trying to do the basics (channels, 1,2,3 etc) for now.
Watching volume and understand Jokari window but still determining how to "draw" the gaussians.
In the a.m I was doing well however saw my first 2 channels overlap. Marked "???" where I thought an FTT may be.
From 11:40 a.m. until 1 p.m. I was a little lost.
I though my second magenta downtrending channel was good but when it broke out from what i had drawn it took me a minute to figure out where I was.
The dotted line is a hindsight channel, thinking this is where it should have been????
Saw the increased volume coming in near the 1460 level (1:10 p.m.?) but didn't realize until 1470 that this was probably my point 3 DOM channel.
Tried to find a new 1,2,3 and marked it as the aqua channel from 1:10 to 2:10 p.m.
The near the aqua "???" I wasn't sure where we were headed.
Then VE after VE on the yellow DOM channel until the close.
Would love to hear some feedback on my channels and comments.
Look forward to comparing charts from today as well.
Thanks in advance for all the help!!!
Just trying to do the basics (channels, 1,2,3 etc) for now.
Watching volume and understand Jokari window but still determining how to "draw" the gaussians.
In the a.m I was doing well however saw my first 2 channels overlap. Marked "???" where I thought an FTT may be.
From 11:40 a.m. until 1 p.m. I was a little lost.
I though my second magenta downtrending channel was good but when it broke out from what i had drawn it took me a minute to figure out where I was.
The dotted line is a hindsight channel, thinking this is where it should have been????
Saw the increased volume coming in near the 1460 level (1:10 p.m.?) but didn't realize until 1470 that this was probably my point 3 DOM channel.
Tried to find a new 1,2,3 and marked it as the aqua channel from 1:10 to 2:10 p.m.
The near the aqua "???" I wasn't sure where we were headed.
Then VE after VE on the yellow DOM channel until the close.
Would love to hear some feedback on my channels and comments.
Look forward to comparing charts from today as well.
Thanks in advance for all the help!!!
I got hacked up in the green oval.
RT
RT
Spyder,
Trading aside, the phrase "false ftt" is probably not a good one. If you look at my chart, inside the upmove in the latter half of the session I annotated three attempts for price to launch from the LTL to the RTL, failing each time. Thus an "FTT". Each time an FBO at the channel RTL occurred. So what I meant by false ftt is a real ftt followed by fbo.
At this point, having read the journal and Jack's literature (both at least twice), I have absorbed as much knowledge as I am going to without corrective advice (i.e. from you). What is in my chart is sum of all knowledge I have absorbed; whether some of it is incorrect or not, I don't know. I won't know unless there is some feedback or commentary.
If by chance the charts are annotated correctly with tapes, channels, 123s, ftts, fbos, etc., I assume the next step is figuring out entries and exits.
If you take a glance at my chart, perhaps you can mention if I'm on the right track or not?
RT
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