Spydertrader's Jack Hershey Futures Trading Journal

Long Trade 13:15 entry for 5.75 points

ENTRY MADA: at 13:00 FTT of purple short channel established pt3 of blue long channel. After BO and SMA was cleared, I entered long on 13:15 bar when volume came in and high of prev bar was taken out.

Exited on 13:10 bar when prv showed ~ 67% and price started to retrace.

 

I think I'll call it a day. Used the 2m YM to get better timing on entries today, man that helped a lot to "see around the corner" in the ES.

RT

 

Hi All,

After seeing some of your trades, I have to ask one question that I think is important. Maybe it’s me that is not seeing things correctly.

Since the beginning, Spyder has tried to teach us how to trade this method by differentiating between “Continuation” and “Change” at a specific resolution level (Forest, Tree).

I have some difficulties to see the trades posted here that are “Forest level” or “Tree level”. So, my question is: are these trades in conformity with the methodology presented in this thread?

Because, some of the trades I have seen so far, seemed to me, more like “scalping” the market, or taking “quickies” (closing a trade when one sees some fast profit accumulate) instead of acting when one ‘sees’ “Change” at their resolution level.

Please, don’t’ get me wrong. I think all profitable trades are always good and it’s very difficult to argue because of someone that is capable of taking profits from the market (using whatever methodology). It’s just that I find it difficult to see this method reflected on your trades.

Best Regards to you all,

 

1. M: 14:34 YM higher on lower volume
2. M: 14:36 YM higher high, closed lower
3. M: 14:35 ES extension on higher volume
4. M: 14:37 ES fails to reach LTL
5. A: no Black PRV, market to retreat
6. D: FTT
7. A: sell

8. M: 14:50 at RTL, volume lower
9. A: no Black PRV
10. D: not bouncing -- continuation
11. A: Hold

12. M: 14:58 YM Black PRV > prev vol
13. A: buyers coming in
14. D: not going down anymore
15. A: cover at market

edit: I looked at the chart again, I traded a retrace. Could/Should have reversed. ;-)> Next time.

 

I can't speak for everyone posting, but it appears (to me at least) as if everyone has followed the methodology exactly as described. They have posted examples of where they 'see' the market signals in a manner which appear crystal clear (to them). Where the signals appear somewhat muddled (or less clear [to them]), they either do not trade, or sideline from the trade currently underway. Each person contributing has attempted to build a foundation of positive trades. So far, it appears to be working.

- Spydertrader

 

Thanks Pr0crast, I studied your breifings of trendline breaks way back in April, and built upon that.
Pepe, the concept of continuation/change is always in mind but as a beginner I am rather timid and take profits as and when I feel comfortable, my account is in green and building slowly. I am grateful to those who have helped/guided me to get to this level, my thanks to Spyder, Jack and all the residents of this thread.
Season's greetings to all

 

A better view of my trade, sorry the gaussians are missing, refer to the previous chart
Thanks TUMS

 

ES Chart

 

YM chart

 

12-18-2007 ES Chart

- Spydertrader