Spydertrader's Jack Hershey Futures Trading Journal

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Quote from ticktrade:

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.
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Thanks tick. That's what I thought from looking at the chart. Now my next question is this. Do you know whether the "traditional" Hershey discussion about 2pairs and spikes applies equally to the tick chart and range chart (as defined in my post just above)? I do not know whether or not it does.

In fact, IMO, it doesn't matter whether or not it does BUT one needs to be clear what, if any, differences between the two representations of the data exist. So if the JH discussion applies equally to either tick or range charts then nifty. However if it doesn't, then we need to be clear on what the changes in interpretation need to be.

Please understand I am not criticizing what you have done, but rather simply saying that if differences exist then we all need to know this.

Just thinking, it might be interesting to compare the two in areas of interest and see what differences, if any, exist between what the charts are "saying".

lj
 
quote:
So if the JH discussion applies equally to either tick or range charts then nifty. However if it doesn't, then we need to be clear on what the changes in interpretation need to be.

I agree, clarity on the subject is desireable. I am not the one to answer your question since I am just now starting to use the OTR chart. My understanding of what was presented in the syllabus was to use the range chart.
I have been using moving averages, and support and resistance to enter on point 3's. I now am seeing things on the OTR chart to fine tune the entry.
Previously I would look for decreasing non dominant volume at one of these areas to enter. If I saw a x2x on a 1 or 2 min chart I expected to see a retrace of a retrace and would wait for the non dominant volume to decrease before entering, as long as the 5 min was still agreeing. At times I would use a 1 min bar to stop in, in the direction of the dominant traverse. This has worked well but am seeing the OTR chart may get one in earlier.
Hope this makes sense.
 
Could you explain what you mean by: If I saw a x2x on a 1 or 2 min chart?
And also: At times I would use a 1 min bar to stop in, in the direction of the dominant traverse.

TIA

lj
 
Quote from ljyoung:

Could you explain what you mean by: If I saw a x2x on a 1 or 2 min chart?

I trade the beginner level and am selective at that. My typical setup is after an increasing gaussian peak, once the retrace starts I look for potential spots the point 3 could form. Than monitor the 1 or 2 min chart. Say in an uptrend, if I see a r2r on the lower fractal I think retrace of a retrace and wait for dec red before looking for an entry(learned this the hard way). Next I look for a stall at a support area, moving average or RTL as long as the 5 min gaussian is still agreeing. I have been placing a stop above the high of a 1 min bar once all these are met unless I just go in at market. Now I'm starting to use the OTR chart to see the stall and a bump in blk volume to enter. TIKI's comments and drawings on the chart I posted will be a big help in this entry idea.
This is why I aksed about using the ym for the OTR chart. Today I have had an OTR chart of es, nq, ym. Have seen the signal from each leading at different times, not what I was hoping to find as this means more screen time to learn what it all means. Kind of hoping someone here will enlighten me. All of this stuff is just fine tuning and will be more benefit moving forward. The entries I take are forest level and this stuff is not necessary.

When debriefing, this setup is the most consistent and offers best potential for multiple points extraction. The gaussians have the classic look and I often see a cluster of things coming together. By this I mean. A moving average, a trendline, a support area. Three different groups of traders acting in the same area. I realize this is not strict adherence to the methods presented here but this is what works for me at this point in the journey. My resolution level is slowly dropping and at times I am able to see more detailed price movement with clarity. The entry I described happens 3-4 times a day. After some of CNMS's posts about compounding 4 points a day I quickly became satisfied with my current level of understanding and know it will get better. For now this is where I am at, don't plan to be here long though. :D
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Ticktrade,

Thanks for explaining. Onward and upward. IMO, both you and TIKI have some interesting ideas and your sharing of new info makes this thread what it is.

Regards,

lj
 
Here's my chart for the day. I got a new puppy for my daughter yesterday, and it was howling all night and I couldn't sleep a wink. As a result, I found myself at -$6,000 within the first couple hours. I spent the remainder of the session working it off to -$400.

RT
 

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Quote from RoughTrader:

I spent the remainder of the session working it off.

RT
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I am sorry to hear you had a bad start.
Just throwing #'s around, to get a loss that you have described, in one scenario, you could of possibly traded around 20 ES contracts and let it go against you for 25 ticks.

That would be a large position to hold for that many ticks.


You were very honest to come on here and share that, so feedback will be here to keep you from doing that again.
You have posted some very good charts.
Your post cannot be ignored. This group has worked together as a team for a year now, and it does not matter when you came aboard.

Slow down here, there is no rush.

It may take another year , or maybe more to solidify what we have learned.
There is a lot here to sink in and that is going to take a while.
Do you ever remember walking out of a class and the professor just had your head spinning ? Then you let some time pass, and one day it just clicks.

Time, that is all that is needed.
Let it sink in, and one day it will click.
 
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