Spydertrader's Jack Hershey Futures Trading Journal

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These are two attempts to catch the FTT of the down channel.

Trade 8:

Looking back I don't know why I was thinking change here because the ES had increasing red vol bars.

The YM was going down on decreasing volume and I was thinking change. When the black bar (ended up being an outside bar) formed and price price moved up pretty rapidly I went long. Exited when the next YM bar formed and outside bar down.

Trade 9:
M: ES FBP. ES bar breaks out of the pennant formation.
M: YM going up on increasing volume
A: New dominant direction is up
D: FTT of down channel
A: Go long

Exit when surge of volume takes the price down. Should have been a smaller loss, but I was not alert to wash quickly.

Trade 8 net: -1.5
Trade 9 net: -2.5
 

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Best trade of the day for me. Net of 6.5 points, had a MFE of 8.5. A slight (few seconds) hesitation on my exit cost me an additional 1.5 points.


Entry:
M: YM forms point 3
M: YM increasing black prv
M: ES breaking out of pennant formation
A: Looks like a BO of down channel
D: Dominant direction is UP
A: Go long

Exit:
ES: prev bar closes below the open
YM: going up on decreasing black volume bars, red volume bars are higher, decide to exit trade.
 

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Went long on the break of the ES tape and the YM down channel.

Decide to exit as YM makes higher highs on lower volume and gaussian peak on ES is lower than prior peak.

Thought about reversing, but since it was more of a protect gains kind of exit, I decided it was not safe to reverse.

Net 2.25 points
 

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Went short on FTT or YM and break of ES tape giving a point 3 down.

Held through the two low volume ES bars, expecting trend to continue. When YM started moving up with increasing black vol and ES looked to exit the sym. pennant I took profits.

Net: 1point (of a gain of 4pts)
 

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Last trade for the day. This one I got all wrong. Saw increasing black on the ES and was thinking up trend.

When the ES bar tried to head higher, I went long thing FTT of tape.

Looking at the YM in hindsight, the YM is showing R2R followed by decreasing black.

Net -1.75
 

Attachments

Trade 1: Short 1470.75, cover 1466.25 +4.50 pts
Trade 2: Short 1465.50, cover 1463.25 +2.25 pts
Trade 3: Short 1464.50, cover 1464.75 -0.25 pts
Trade 4: Long 1465.25, exit 1466.25 +1.00 pts

RT
 

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Quote from bi9foot:

...Entry:
M: YM forms point 3
M: YM increasing black prv
M: ES breaking out of pennant formation
...
More...
I haven't been trading due to lack of time, but I have been keeping up with all the posts.

Reviewing most of your trades from yesterday bi9, it looks like you are concentrating on the YM instead of the ES. Your 'M'onitoring starts with YM when I think it should start with the ES. Try 'slowing' down a bit by concentrating on the ES for the sequences.

We annotate the YM first but don't 'start' there for signals.
 
Trade 1: Short 1470.75, cover 1466.25 +4.50 pts
Trade 2: Short 1465.50, cover 1463.25 +2.25 pts
Trade 3: Short 1464.50, cover 1464.75 -0.25 pts
Trade 4: Long 1465.25, exit 1466.25 +1.00 pts
Trade 5: Short 1464.00, cover 1461 +3.00 pts

RT
 

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