Spydertrader's Jack Hershey Futures Trading Journal
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es 5 min (click the link to see it full size)
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Thank you cnms2 for sharing your thinking process behind these trades with us.
I caught your first trade for a few points, you will have noticed from my chart earlier, that my tape was different from yours, it was based on last nights drills. I had much better understanding of the market when executing that trade, there were no ifs or buts.
Your contributions to this thread, really appreciated by many of us.
I caught your first trade for a few points, you will have noticed from my chart earlier, that my tape was different from yours, it was based on last nights drills. I had much better understanding of the market when executing that trade, there were no ifs or buts.
Your contributions to this thread, really appreciated by many of us.
Great sequence Cnms2. Form me, the most impressive part was the start where it took a couple of reverses before you where proved to be on the right side of the market. Then again later, after the HVS reversing and reversing back. Quality stuff.
Did you ever have trouble (emotional) with the reversing to get on the right side of the market when you started with real money? Was it simply that you where so well drilled that you just did what was required? Looks like at the start you may have been adrift a few ticks or even a couple of points of course when you know that you are now on the right side and will be carried along it must help.
I certainly don't look at P&L but cant help knowing how many ticks the market has moved (how can you not know if you are monitoring price movement and volume? Unless you follow Tums experiment
)
Final question if I may, are you using IF1/2 to reverse? Break back into the tape (FBO)? I cant help think a more rigid set of actions to be followed like that might help my discipline.
Anyway thanks again for sharing.
Cheers.
Did you ever have trouble (emotional) with the reversing to get on the right side of the market when you started with real money? Was it simply that you where so well drilled that you just did what was required? Looks like at the start you may have been adrift a few ticks or even a couple of points of course when you know that you are now on the right side and will be carried along it must help.
I certainly don't look at P&L but cant help knowing how many ticks the market has moved (how can you not know if you are monitoring price movement and volume? Unless you follow Tums experiment
)Final question if I may, are you using IF1/2 to reverse? Break back into the tape (FBO)? I cant help think a more rigid set of actions to be followed like that might help my discipline.
Anyway thanks again for sharing.
Cheers.
I know that it works and if I do my job correctly I'll rip the benefits. Today I started monitoring (with the intention to trade) a few minutes before 3 pm, and sometimes it takes a little until I get in sync. Also, I tried to get on the FTT: not to lose the reversal, not to get faked ...
I kind of know what's my P&L, but I don't make decisions based on it.
I certainly don't look at P&L but cant help knowing how many ticks the market has moved (how can you not know if you are monitoring price movement and volume? Unless you follow Tums experiment
I don't use IF1 IF2 APA. I look for BOs and FBOs of channels, tapes, formations, and bars.
I don't think there is a set of rigid rules you could follow. Besides a few basic concepts, this method seems to me more about putting you in the right state of mind to see what's happening and to act accordingly.
Learning Jack Hershey's trading method is like learning a foreign language: the market's language. I can think of many similarities both in purpose and approach.
Learning a language's vocabulary and grammar won't make you proficient in that language. It is only the necessary beginning. In order to use them proficiently you need to get the feel of the new language. You need to know (feel how) to differentiate between words that in the dictionary have the same translation. You need to know (feel) when a grammatical rule doesn't apply.
When you try to read or speak in a language and you have difficulties, you won't overcome them by adding your rules and trying to force everything in a rigid system.
Maybe this is a good reasoning for those who try to backtest or automate Jack Hershey's trading method: there's no good automatic language translator, but there is a large number of bilingual and multilingual individuals.
Questioning if ym leads es (at es' end effect points) is like a German not wanting to accept that Americans call a certain thing subway, and Englishmen call it tube. Or on a funnier note think about what do they mean when they say they're "pissed"
Everybody who gets exposed to Jack Hershey's trading method is free to take whatever he agrees with, and apply however he likes it, but think about how this idea sounds if you applied it to the learning of a foreign language, and with what results ...
Believing that by watching Jack or Spydertrader trading for a couple of hours you'd become proficient at trading, is like believing that if you only listened a foreigner talking for a couple of hours you'd become proficient in his language. Everything will look easy, and you won't even recognize the subtle nuances.
Happy Thanksgiving everybody!
Learning a language's vocabulary and grammar won't make you proficient in that language. It is only the necessary beginning. In order to use them proficiently you need to get the feel of the new language. You need to know (feel how) to differentiate between words that in the dictionary have the same translation. You need to know (feel) when a grammatical rule doesn't apply.
When you try to read or speak in a language and you have difficulties, you won't overcome them by adding your rules and trying to force everything in a rigid system.
Maybe this is a good reasoning for those who try to backtest or automate Jack Hershey's trading method: there's no good automatic language translator, but there is a large number of bilingual and multilingual individuals.
Questioning if ym leads es (at es' end effect points) is like a German not wanting to accept that Americans call a certain thing subway, and Englishmen call it tube. Or on a funnier note think about what do they mean when they say they're "pissed"
Everybody who gets exposed to Jack Hershey's trading method is free to take whatever he agrees with, and apply however he likes it, but think about how this idea sounds if you applied it to the learning of a foreign language, and with what results ...
Believing that by watching Jack or Spydertrader trading for a couple of hours you'd become proficient at trading, is like believing that if you only listened a foreigner talking for a couple of hours you'd become proficient in his language. Everything will look easy, and you won't even recognize the subtle nuances.
Happy Thanksgiving everybody!
First I would like to thank Spydertrader for translating Jack and then teaching the method. Learning how to see the market will change my life for sure.
I got home early today in time to throw some channels on the chart and trade what I thought was an FTT. I was trying to get in as close as possible. Exited after I saw the double bottom at 15:20. Suddenly I could not think clearly about continue or change. Still I am very happy with the day. Not bad for a few minutes of trading.
Happy Thanksgiving.
I got home early today in time to throw some channels on the chart and trade what I thought was an FTT. I was trying to get in as close as possible. Exited after I saw the double bottom at 15:20. Suddenly I could not think clearly about continue or change. Still I am very happy with the day. Not bad for a few minutes of trading.
Happy Thanksgiving.
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