Spydertrader's Jack Hershey Futures Trading Journal
- Thread starter Spydertrader
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Will do.
RT
RT
Price gapped up and out of my Orange Carryover Channel (See left corner of posted chart for today).
- Spydertrader
Quote from cnms2:
Today (Tuesday the 13th) was a good reminder to take a step back and look at the bigger picture too.
I find useful to slightly adjust my "change detector" sensitivity: its threshold is a little higher when I'm on a dominant traverse, and a little lower when I'm on a retrace. My debriefing showed that giving the same weight to change signals with and against the trend, made me too quick to reverse into small retraces, or too slow to reverse back into the trend which usually happens with a bang.
This ability would have come in handy today. Throughout the day I kept interpreting whatever decreasing black volume there was as a prelude to a change in sentiment. Of course it never came
. I have to re-evaluate my "change trigger" to account for days like today. Also, I got hung up (read: lost my way) in two laterals (10:50 to 11:15 and 12:05 to 12:50). Lastly, I know a lot of traders do not sit through the whole day of trading and take opportunistic breaks. I would love to hear how some of you are doing this. I have tried different approaches (i.e. taking breaks at a certain time for certain time periods; breaking for a few minutes every hour or so) but I haven't found a good set up where I can be at my best for the time I am in front of the screen. Ideally, it would be great to take a 30 to 45 min nap during the day, but I am so jacked up on caffeine (trading on west coast time does have its disadvantages) this is not really possible. Any thoughts on the subject appreciated.
-guava
anyone sct through this period? this is what I would do if I was in. I add a white channel and the green dot indicates reverse to long, red reverse to short. very expensive trades...
any comments?
<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1678282>
hey, this is my 100th post
any comments?
<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1678282>
hey, this is my 100th post
the volume is high, let's assume for a the sake of the discussion it's a normal afternoon session instead of lunch time.
<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1678282>
anyone sct through this period? this is what I would do if I was in. I add a white channel and the green dot indicates reverse to long, red reverse to short. very expensive trades...
any comments?
Probably for most of us the better question is <span style="background-color: #FFFF00">how to identify such a period and avoid trading it</span> I think there are a few helpful warnings / hints like: decreased volume (coincides with the typical lull of the day), we're in a probable retrace to the RTL established by the opening bar's low and the 1050 outside bar's low (it doesn't look like we're at the beginning of a reversal), that period started and continued with a lot of internal formations (pennants, outside bars, even harmonics), then once it started there were several alternating r2r and b2b. So at some point a trader aware of his expertise level should've decided to sideline until the mud was over ...
I think there are a few helpful warnings / hints like: decreased volume (coincides with the typical lull of the day), we're in a probable retrace to the RTL established by the opening bar's low and the 1050 outside bar's low (it doesn't look like we're at the beginning of a reversal), that period started and continued with a lot of internal formations (pennants, outside bars, even harmonics), then once it started there were several alternating r2r and b2b. So at some point a trader aware of his expertise level should've decided to sideline until the mud was over ...
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