Spydertrader's Jack Hershey Futures Trading Journal

[cnms2]

For the sake of discussion: I would annotate a little differently the blue highlighted area, to emphasize the B2B. The way I annotate, the gaussian colors don't follow as much the volume bars' color, as the related tapes or channels' slope.

<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1707591>

Quote from callmate:

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[TIKITRADER]

Es intrabar gaussian shift, Friday Dec 7. 4pm

 

[Avi 8]

Quote from TIKITRADER:

Es intrabar gaussian shift...

I have found the volume (and their gau) of the tick charts to be very important.

One of the realizations during this year is how important volume (on any fractal) is so important. It is easy to focus on price (since that is where the money is), but volume tells so much of the story.

 

[TIKITRADER]

Agree 100% Avi 8,

I do keep volume on my tick chart. I just didn't have it open on this tick replay.

 

[ticktrade]

Quote from Avi 8:

I have found the volume (and their gau) of the tick charts to be very important.

Hi Avi
It is encouraging to hear from others that are finding their way and trying to help the rest.
Been doing a lot of tic replay with different settings for shorter fractal volume. Tried anywhere from 1-5 tick range charts as well as 10second charts. On all these i have the background on the volume window changing colors at 5 min intervals to aid in seeing the intrabar shifts. The problem with the tic replay is the PRV doesnt work so I find myself using the 2 min ES chart to see decreasing volume and if the context seems proper look to the OTR type fractal to see intrabar shifts. I'm hoping the heavy use of tic replay is not going to be a problem in the long run, creating an inability to see these changes using the PRV on the 5 min es.

I noticed on an earlier post you used a 2TR and 5TR to show an example. Could you offer any more insight in how you arrived at the intervals you use and how you use them. I know the suggested progression of moitoring to arrive at the tic chart but would still be interested in seeing it again from your perspective.

 

[BlowFish]

I am plotting 1 tick range. I also plot volume hitting the top end (ask) as a histogram going up and that hitting the bottom (bid) going down. This shows walls as they are hit (not as they form).

At the moment I am just observing behaviour at odd times. I have observed a couple of things that happen regularly.

Cheers.

 

[Avi 8]

Quote from ticktrade:

...I noticed on an earlier post you used a 2TR and 5TR to show an example. Could you offer any more insight in how you arrived at the intervals you use and how you use them...

I set the tick charts up just as suggested by Spydertrader earlier in the journal.

I use the volume from them more than anything else so far. They offer a microscopic look at how the volume bar is forming, either for the 2min YM or the 5min ES. Remember on some ES bars that Spydertrader has mentioned to mentally split the volume 50-50? Well using the tick charts, I can see this split more accurately. Sometimes the split favors one side or the other. I only use this at action points when more info is needed. Watching this too much throws 'signals' out all the time - but are of no use.

If you 'want' to see change - your brain will find it - on some fractal.

 

[ticktrade]

Quote from Avi 8:



If you 'want' to see change - your brain will find it - on some fractal. [/B]

So true. The key to all the finer tools, knowing when to use them.

thanks for the reply.

 

[Tums]

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[ivob]

Thanks for your respons.

It should be the breaking of the tape I should wait for.

So when anticipating a point 3 up, then a tape down should be broken to the upside. When anticipating a point 3 down a tape up should be broken to the downside.

This automatically means waiting at least 10 minutes after a point 2.

Sometimes the tape broken for the 1st time is a fake one and the second time the right one (happened 2 times Fridaymorning first pt3 down then pt3 up). However one should be able to wash because you can immediately draw RTL if you think you have point 3 and if that one is broken you have to be out because obviously you got it wrong.

It really requires patience. I am sure most of us see what price will do but the question is when? It's tempting to take the trade, then price takes it's time and seems to make a few moves against you, you reverse, reverse again, down 2-3 points, take a break, and I forgot what was anticipated in the 1st place and then the real move comes exactly as anticipated but just a little later.

I just HAVE TO tell myself "Wait longer" after I feel I've been very patient already.

Maybe use a stopwatch and forbid myself to do anything for 5 minutes at the moment I think I have to take the trade.

regards,
Ivo

Quote from RoughTrader:

There are occasions where the a point 3 is established, but an FTT for the new channel occurs in the same bar. The next bar sees a BO of the channel. It's easy to be on the wrong side when this happens.

There are other times where a point three is being established intrabar, but we don't allow the tape to be properly formed before declaring it a point three. consequently, price might reverse intrabar to form a tape in the opposite direction, voiding our new channel altogether. Even though PRV (which should be larger than the volume at the close of the previous bar) gives a clue, the PRV could also be signaling an intrabar guassian, leading to a reversal.

To make absolutely sure the point 3 has been established, I wait either for new highs (or lows) to be taken out, or look for an end-of-bar formation for a tape that seals the deal.

RT