Spydertrader's Jack Hershey Futures Trading Journal

Discussion in 'Journals' started by Spydertrader, Dec 30, 2006.

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  1. Squeezed a few points before I dream of genie!
     
    #7661     Nov 13, 2007
  2. Haha I see 'family time' is a euphemism for writing your nuts off where you come from :D Great intro for the month.
     
    #7662     Nov 13, 2007
  3. I still don't see the purpose of the 20ma... If someone could give a hint what to look for?
     
    #7663     Nov 13, 2007
  4. Tums

    Tums

    Do a search on "Spydertrader" and 20 MA or 20 SMA. Throughout the journal Spyder has made LOTS of explanations, references and examples on the utilities of 20ma.



    (if you are deep in the trenches and found yourself disoriented, this might be the missing bit in your map.)
     
    #7664     Nov 13, 2007
  5. By widen the tape I guess you mean put on volatility expansion lines? I do this (I think this is the the preferred method). However I also 'fan' lines with a steeper slope, I do this quite freely when pace increases. As you say a stall can give yet another set of lines that is between the steep and shallow.

    If this senario is a RTL BO (often the case) the shallow set (that has been expanded) is often a good guide for the main channel until you get a PT3. I keep them and often they just need a little nudge to make them the new main channel. In any case the expanded tape is now more like a channel.

    If my understanding is correct tapes should be quite 'tight' containers interacting with a good portion of bars H's & L's.

    I have clean ups once pace has settled down (some people leave everything on I understand) and delete anything that no longer 'makes sense'. (i.e. is unlikely to interact with or 'guide' price or where price is better described by a subsequent line).


    Anyway that's how I actually go about the process itself. I should point out that I have drawn channels for years and later integrated Jacks stuff. Be warned I may have some 'bad habits' compared to the 'orthodox method'! I don't think so (except perhaps taking some things for granted).

    (hehe I wonder if Jack would get a kick out of his methodology been referred to as the orthodox method?)

    I think probably the most important think is that you go about the process absolutely consistantly. Having gone about things programatically you must have considered the process in some depth!

    Cheers.


     
    #7665     Nov 13, 2007
  6. Thanks Spyder....priceless!
     
    #7666     Nov 13, 2007
  7. my 20 bars so far
     
    #7667     Nov 13, 2007
  8. are you guys sidelined in this low volume right now?

    It's pretty whippy and volume is not telling the story properly it seems....

    RT
     
    #7668     Nov 13, 2007
  9. chop zone - stay away?

    RT
     
    #7669     Nov 13, 2007
  10. Not to get too preachy here, but DU Volume tells a story all itself :)
     
    #7670     Nov 13, 2007
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