My ES for today...
Spydertrader's Jack Hershey Futures Trading Journal
- Thread starter Spydertrader
- Start date
- Status
Ugh, had a pretty rough day. The morning started off well but after that I felt like I was getting behind the curve. Alot of changes occured on relatively low volume, making me inclined to hold after which I'd be forced to reverse on increasing volume in the other direction. Unfortunately none of the trend reversals between 11:30 and 15:00 really lasted long, often turning a few points of profit in a few points of loss.
I really thank the market for providing me with a large closing rally in order to fix it.
After my recent successes I'm glad that I had a day that places things in the proper perspective. Although I understand why A or B happens when I look back at my chart I found it hard to take appropriate action in real time. It made me realize that I still need some more time to develop an instinct for this method before I'll take it to live trading.
My chart for today:
I really thank the market for providing me with a large closing rally in order to fix it.
After my recent successes I'm glad that I had a day that places things in the proper perspective. Although I understand why A or B happens when I look back at my chart I found it hard to take appropriate action in real time. It made me realize that I still need some more time to develop an instinct for this method before I'll take it to live trading.
My chart for today:
I am currently studying the basics (January & February) and I hope I am allowed to ask a question taking into consideration that I am in the forest stage of training.
My problem is the definition of a FTT following (2bars) a volatility expansion. on Feb 20th ES 5min 10:35 spydertrader called a FTT
(that had lower volume than the preceding red bar) now yesterday Nov. 13th was the same situation at 13:50 (but the bar had higher volume) I had this start a short downchannel that was broken to the upside on 14:05(00).
Wrong?
Maybe someone can help me with this.
While I practice I will not proceed to the next months but I might start reading the Equities method journal any suggestion where to beginn other than page one of Journal 1 (or is starting from this link http://www.elitetrader.com/vb/showthread.php?s=&postid=1261122#post1261122 ...OK)
Thank you in advance
BTW The Journal up to Feb. is awesome and I thank Jack Hershy, Spydertrader and all the other top posters (thank Pr0crast for files)!
With channels there is no room for fear, they give guidance to the flow I always felt when watching the charts !
My problem is the definition of a FTT following (2bars) a volatility expansion. on Feb 20th ES 5min 10:35 spydertrader called a FTT
(that had lower volume than the preceding red bar) now yesterday Nov. 13th was the same situation at 13:50 (but the bar had higher volume) I had this start a short downchannel that was broken to the upside on 14:05(00).
Wrong?
Maybe someone can help me with this.
While I practice I will not proceed to the next months but I might start reading the Equities method journal any suggestion where to beginn other than page one of Journal 1 (or is starting from this link http://www.elitetrader.com/vb/showthread.php?s=&postid=1261122#post1261122 ...OK)
Thank you in advance
BTW The Journal up to Feb. is awesome and I thank Jack Hershy, Spydertrader and all the other top posters (thank Pr0crast for files)!
With channels there is no room for fear, they give guidance to the flow I always felt when watching the charts !
The February Chart (10:35) shows a BO on decreasing Volume, whereas yesterday's chart (13:50) shows a BO on increasing Volume (which subsequently turned into an FBO). In addition, I did not introduce the concept of formations until September. As such, (most) charts posted prior to the Formations discussion lack certain detail which later provided clarity.
You may have had a down tape beginning with the 13:50 bar, but I doubt you had a Point Three channel.
Page 1 of Journal One is where everyone begins their Journey.
FYI-- For future reference, if you want someone to answer your questions, I recommend linking to the charts in question (or attaching them to your post), rather than, force the person offering the assistance to go through the job of finding the charts on their own.
- Spydertrader
Thank you for your answer Spydertrader.
I thought about including the pictures but for - now obvious - false reasons (NOT laziness!) decided not to and rather describe the old situation compared to the very recent chart, assuming that my description already included the reason for the difference, which as it appears might be true.
Please excuse me mixing up the terminology describing a tape as a small channel (I think it still can have a breakout though).
Anyway I will remain where I am supposed to be and be quiet again.
Thanks all.
I thought about including the pictures but for - now obvious - false reasons (NOT laziness!) decided not to and rather describe the old situation compared to the very recent chart, assuming that my description already included the reason for the difference, which as it appears might be true.
Please excuse me mixing up the terminology describing a tape as a small channel (I think it still can have a breakout though).
Anyway I will remain where I am supposed to be and be quiet again.
Thanks all.
Hi,
This is what happens. You really need to experience different market situations else you might think days with long lasting trends are the only thing that exist. Today was not even that choppy but it sure was a day of taking profits relatively quickly, for me.
I missed the big move at the end though :-(
At least I wasn't long
regards,
Ivo
This is what happens. You really need to experience different market situations else you might think days with long lasting trends are the only thing that exist. Today was not even that choppy but it sure was a day of taking profits relatively quickly, for me.
I missed the big move at the end though :-(
At least I wasn't long
regards,
Ivo
You should take advantage that there is still 1 more month left of live posting.
You will be able to ask questions at this point and get some feedback.
There is more than enough material covered at this point already, but you do have an opportunity that exists and should use it.
(just come to class prepared
)- Status