Spydertrader's Jack Hershey Futures Trading Journal

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The day is still young :D

good trading to all
 
Quote from WGTrader:

That's what I've been doing at the start of each morning to get a feel of the price container for the start of the day. Here is today's channels before the market open. cnms2, is this sort of how you do it as well?
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In some of his early posts Jack talks about areas of support and resistance and their importance when one is trading. He does not speak about these areas in the usual way but rather views them as being dynamic entities as opposed to fixed lines of entrenchment. IMO, every day there are four prices which should be kept in mind as possible "points of change" and for the futures market they are:
Overnight High and Low.
Prior day's RTH High and Low.

When RTH begins, we cannot know how the market will react around these prices BUT with the tools at our disposal we can definitely get the jump on the herd when these prices first come into view on the current day's chart.

I have a question about an acronym Jack uses in his nifty discussion about Cycle Sectors. Could someone please tell me what "FA" means, as in ... It turns out that non-traders determine the balance of the market. Largely these are those who deal in the financial industry orientation and persuasion of asset allocation and it’s basic strategy of buy and hold. The other market forces come from the mutual fund industry which forgoes timing, practically speaking, in favor of FA stuff. Analysts prepare assessments that drive both the asset allocation and the FA community. This group of investors acts as what I refer to as the “herd”.

TIA

lj
 
I keep an eye on it only.
Quote from WGTrader:

That's what I've been doing at the start of each morning to get a feel of the price container for the start of the day. Here is today's channels before the market open. cnms2, is this sort of how you do it as well?
More...
 
Quote from Avi 8:

I believe it is Fundamental Analysis, for example, earnings per share, etc.
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D'oh! Thanks avi 8. Makes perfect sense. It's grey, wet and dreary up here in the Pacific NW (snowed last PM) and I thank you for ameliorating my S. A. D. in a most edifying way (the usual Rx is sitting in front of a bank of fluorescent lights).

lj
 
Nice....

What about this pathetic trade:
20:34:55 short at 1421.25

Very good timing again. I saw everything perfectly. Price went down a few seconds later.

20:35:34 closed position at 1419.75 at a profit of 1.5

So I closed after half a minute for no reason, the exact same bar price fell 7 points more.....

Still better than a loss but I just have to learn to hold.

regards,
Ivo







Quote from callmate:

ftt-1.png


2950.png


IB.png


The day is still young :D

good trading to all
More...
 
Incredible day! It looks like a W (?)

+2.25 points in 10 trades/90 minutes, but I'm happy :)

EDIT: Second day of sweeping through STR/SQU and tick charts. Yesterday I couldn't make anything of them. Today they've helped me to go flat at 1431.75, before the end of the day turned. I've seen the flip-flopping between 1432.25/32.5 and the STR/SQU pulling down (stretch, I guess). Until I decided to use this information I went flat at 1431.75.
 
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