Spydertrader's Jack Hershey Futures Trading Journal

Pepe,

Thought this quote from Jack might give a bit of clarification to your observations. - EZ

 

A couple of trades during my jury duty lunch break. I felt like doing something I enjoy, and I was a little itchy to trade ...

In the subsequent messages I'll post links to snapshots of:
- today's order status: +1.25 for the day
- 1st trade's entry chart: sto
- 1st trade's closing chart: btc -0.50
- 2nd trade's entry chart: bto
- 2nd trade's closing chart: stc +1.75

Those shots were snapped a few seconds after placing my orders.

<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1621860>

 

Orders

 

sto

 

btc

 

bto

 

it's funny, I value its opposite signal more.

let's say both cash and future are moving up, future initiated and moves at faster speed, it drags cash along ( +2 ); soon cash catch up, in sync with future (0), then future slows down, shows sign of weakening, but cash still move ahead ( -2 ).

when I see this kind of -2, I'll at least prepare for possible change in the price movement. because I see a sentiment change in future trader.

But in case of +2, I don't see it will help much, since we would know future is moving up from price action and confirmed by prv. we don't need cash to come along as confirmation IF one believes "YM leads".

BR.
Eric

 

stc

 

good trade, I always find myself hesitated at the similar reverse point.

 

I know what you mean.