Spydertrader's Jack Hershey Futures Trading Journal

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Hi all,

I've read a chunk of this thread and various posts by Jack. This is a huge effort by Spydertrader by all means so I will make the effort to understand it thoroughly.
As I understand there is continuous logging going on throughout the trading session of various data. Jack provided a trading log in the "SCT Q & A" thread in the past, is this the sort of log everybody is keeping? Is it a good idea to log PRV on a separate sheet in order to make observations for study purposes after the session.?

Rgds & happy holidays
Bob
 
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I'm attempting to add the OTR chart to my tool set. Currently use the ES and YM only. I was practicing wash trades and not knowing exactly how this is done, tried to use the tic charts as an aid in this excercise. While doing tick replay to learn how to incorporate the tic charts, when I compressed the charts, and visualized the channels and gaussians the ftt's were very visible.
I don't have a lot of screen time with this yet but have noticed a few things and wondered if others have seen these also.
One is, when anticipating a point 3, I often have seen a spike in the volume just before the move starts.
Another is a spike at the end of a move that appears to signal exhaustion.
And one other thing is after the ftt starts the retrace, minor non dominant volume followed by insignificant dominant volume(a confirmation clue?), than the return of nondominant volume which on some fractal could be considered x2x I suppose.
I can see the trick with this as I imagine with many of the finer tools is learning when to use them to stay out of the rabbit hole before skill levels take you there.
I reviewed some of the posts, thanks to Tums handy guide and may have missed it but didn't see if we are supposed to use OTR charts on both the ym and es. It would make sense that since the ym leads at times of change, one would want to use it. Any experiences using the tic charts that can be shared would be greatly appreciated.
thanks
 
Quote from ticktrade:

doing a tick replay I came across this shortly after resuming the session

http://charts.dacharts.com/2007-12-26/tic exmpls.png
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Just looking at this clip this is what I see. I have no idea what the Bigger picture is on the 5 minute ES. This is how I read tick and the clip you posted.
Hope this helps. As far as YM tick , I do keep one on my screen, but I am not sure if everyone uses that.
Just remember to look at tick at important points only.
Staying at the correct resolution as not to go too far, and lose what is happening on the ES 5 minute bars.


TICKDEC262007.jpg
 
Here is one of the important things to remember. If you have had a chance to watch any of the videos made by Jack ,Spyder and group, you will hear Jack mention this often.
You do this everytime you trade but may not pay attention to it .
Stop losses. Take a look at the tick chart you posted with the additional annotation I have added.


stoplossesdec2607.jpg
 
Nice stuff, TIKI and Tick. Could you please outline exactly what type of chart you are calling a OTR chart. Is it a 1 tick/bar "tick chart" or is it a 1 tick range "range chart"? The former will show every single trade (and its associated volume) in which there is a change in price of 1 tick (= 0.25 points). The latter will show all trades (and their associated volumes) in which the range of the trade is 1 tick (= 0.25 points).

The critical difference between the two charting modalities is that the tick chart shows INDIVIDUAL trades whereas the range chart can show MULTIPLE trades, i.e., if there are 10 trades which show no translation they will be represented by a single bar on the range chart BUT by 10 individual bars on a tick chart.

I think I have this elaboration correct but if not please SAW.

lj
 
I guess I should answer since I posted the charts. My intention was to set it up as a one tick range chart. I believe that is what is represented there. The shaded boxes are 5 min intervals and the varying widths are yet another indication of pace.
Hope this answers your question.


Quote from ljyoung:

Nice stuff, TIKI and Tick. Could you please outline exactly what type of chart you are calling a OTR chart. Is it a 1 tick/bar "tick chart" or is it a 1 tick range "range chart"? The former will show every single trade (and its associated volume) in which there is a change in price of 1 tick (= 0.25 points). The latter will show all trades (and their associated volumes) in which the range of the trade is 1 tick (= 0.25 points).

The critical difference between the two charting modalities is that the tick chart shows INDIVIDUAL trades whereas the range chart can show MULTIPLE trades, i.e., if there are 10 trades which show no translation they will be represented by a single bar on the range chart BUT by 10 individual bars on a tick chart.

I think I have this elaboration correct but if not please SAW.

lj
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