Spydertrader's Jack Hershey Futures Trading Journal

[Failure2Travers]

MY TRADES FOR THE DAY:


Symbol Side Qty Res Price Status ExchTime
ES/MAR08 B 2 0 1473.25 Normal 09:35:03.000
ES/MAR08 B 1 0 1474.00 Normal 09:41:31.000
ES/MAR08 S 1 0 1473.50 Normal 09:42:08.000
ES/MAR08 S 1 0 1474.25 Normal 09:44:28.000
ES/MAR08 S 1 0 1473.00 Normal 09:54:53.000
ES/MAR08 S 1 0 1459.00 Normal 12:29:02.000
ES/MAR08 B 1 0 1458.75 Normal 12:29:44.000
ES/MAR08 B 1 0 1462.75 Normal 13:06:47.000
ES/MAR08 S 1 0 1466.25 Normal 13:13:21.000


Trade 1: Buy 2 @ 1473.25 Reason: Pt 3 on a right trend line and increasing black volume
Buy 1 @ 1474.00 Reason: User error
Sell 1 @ 1473.50 Reason: Price broke our right trend line
Sell 1 @ 1474.25 Reason: " "
Sell 1 @ 1473.00 Reason: " "

Trade 2: Sell 1 @ 1459.00 Reason: On right trend line in down channel on the MA
Buy 1 @ 1458.75 Reason: Volume dry up following an FTT

Trade 3: Buy 1 @ 1462.75 Reason: BO of down channel on increasing black volume
Buy 1 @ 1466.25 Reason: Taking profit on decreasing black volume

Result: +4.00 points

 

[spooz_trader1]

My first trade of the day...

Entered Long @ 10:04:07, 1470.75
Covered @ 10:08:09, 1473.00
+2.25

I waited for the B2R to complete on bar 7 (10:00), intrabar. FBO'd my steep tape. The intrabar shift had me anticipating another B2R and I ending up entering mid-channel. Increasing black came in and I held until price started to retrace a bit. I glanced at the DOM, thought I saw a wall on the ask, and covered.

I guess the entry was a bit late but it did take some patience on my part to wait for the R part of the first B2R. In hindsight, I see my exit was very close to the YM LTL. I don't recall sweeping this at the time.

Note: my chart snippets were re-created from replay.

spooz

 

[bi9foot]

M: YM heading higher on lower volume, next bar YM is red, with Increasing Red PRV.
A: Looks like YM is starting to turn
D: Possible FTT
A: Short

Once in the trade,
M: ES volume is very low compared to prev bar (possible flaw).
M: YM in a formation and at RTL
M: YM PRV looks low
D: Flaw on the ES
A: Reverse long back into dominant trend.

Result +0.75

The snips inside the yellow boxes is the ES and YM at entry.

 

[bi9foot]

M: YM heading down. ES heading down
A: Price still in down trend
D: Previous reverse was too early
A: Go flat

Net result -1.


EDIT: Have to go to daughter's school concert. Will continue when I get back.

 

[bi9foot]

Entry
M: YM stalls going down on lower volume and turns and breaks pink down channel
M: ES breaks blue down channel
A: BO of down channel
D: Resumption of up trend
A: Enter long

Exit:
M: YM PRV is high but price is stalling. Price then turns down
A: YM is heading down
D: FTT
A: Reverse to go short


Net result +2 points

 

[bi9foot]

Entry was reverse of trade 3 above.

Exit
M: YM walks out of down channel
M: Formation FBO on YM. (Exit formation on lower red volume and strong black volume)
M: Huge Black volume bar on YM
M: ES @ 20 SMA, and volume overall is in a decreasing trend
A: YM done with it down move
D: Resumption of uptrend
A: Reverse Long

Net: 2.75

Notes:
- Disappointed to exit here as I missed the best move of the day.
- ES is a carbon copy of a recent discussion about point. I annotated it (grey channel). On seeing the black bar, I was convinced we had a FTT .

 

[bi9foot]

Trade 5: Wash to go flat as FTT did not materialize.

Net -0.5

 

[TIKITRADER]

Daily ES chart December 19/07.

 

[bi9foot]

Quote from bi9foot:


- ES is a carbon copy of a recent discussion about point. I annotated it (grey channel). On seeing the black bar, I was convinced we had a FTT .

referring to point 3 channel discussion with spyder a few days ago.

 

[bi9foot]

Entered short on the increasing red prv on the YM and ES.

- The next YM bar was flawish volume.
- The next ES bar volume was flawish (30K vs 10K)
- We had a pennant formation on the ES and when it started to exit the formation I exited my position.

Looking back at the YM, it was heading higher on lower black bars (but it was not something I noted then as I was watching the ES price bar). Was up 2 points at one point.

Net -1.75