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My 6E trading strategy
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My 6E trading strategy

  #1031 (permalink)
Trading for Profit
aurora,il
 
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drmartell View Post
Hi Charles,

You've been kind enough to share your percent winning trades stats in the room. I have been looking back on the charts this weekend and I see many decent trades that do not achieve 21 tick targets. I wonder if you would be willing to let us know what % of your winning trades are 21 tick winners versus smaller winners. It might help me do a better job of envisioning trade management for this method.

Thanks!


Ok, thats a fair question, I had to do a little home work here -

These stats are based off of my last 67 trades which goes back to the week begginning June 6th 2011

Of the 67 trades there were 52 profitable trades and 15 that were not

Of the 52 profitable trades 37 reached the 21 tick profit objective creating a total profit on all 52 trades of 987 ticks

On the flip side rarely will I take a 12 tick loss, many times I close the trade before the stop is hit so lets also consider that

Of the 15 losing trades 4 took the full loss of 12 ticks creating a total loss on all 15 trades of 143 ticks

So put it all together not all trades make 21 ticks - not all the losers loss 12 ticks - since 6/06 I have had a net gain of 844 ticks before commission


Charles

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  #1032 (permalink)
Trading Apprentice
North Carolina
 
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Thanks for sharing such a great looking system! I'm intrigued, as it appeals to my trading "sensibilities". I do many similar things to this system in my trading already, just not following these exact rules.

I have a series of questions. I hope you don't mind answering.

A) Why not play the system using forex? What are the advantages of playing the 6e futures contract over a forex cross?

B) Has anyone tried this with other markets besides the euro? If so, which markets worked? Which ones didn't? Are there common characteristics of markets where this system works and where it doesn't work?

I imagine that in order to get this to work in other markets, you would have to adjust either the number of ticks in the chart or the number of ticks to the profit target and stop loss levels. But otherwise, if the system works in one market, it should work in at least a few others. A good system may not be suited for all markets, but it will work in more than one.


cjbooth View Post
These stats are based off of my last 67 trades which goes back to the week begginning June 6th 2011

Of the 67 trades there were 52 profitable trades and 15 that were not

Of the 52 profitable trades 37 reached the 21 tick profit objective creating a total profit on all 52 trades of 987 ticks
...
Of the 15 losing trades 4 took the full loss of 12 ticks creating a total loss on all 15 trades of 143 ticks

Just doing some quick math, and the above yields a Reliability of 77.6% and Profit Factor of 6.9. I've backtested many systems, and those are great numbers. Holy grail type numbers. However, the sample set is relatively small: 67 trades over two months across one market. I'm used to back tests over 50 plus markets, 20 plus years, and thousands of trades. I've seen backtests where across one market and 100 trades it had a Profit Factor of 10, but across 50 markets and 5000 trades the profit factor dropped to 1.10.

With that in mind, I have the following additional questions:

C) Were the last two months of trades typical performance for this system, or were they better than normal? What has the performance of this system been like over a longer period?

D) For anyone else besides Charles trading this system, what have your results been like? Comparable to Charles, or does he have the magic touch, making his stellar performance hard to match?


Thanks in advance! This is very good stuff.

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  #1033 (permalink)
Elite Member
WA,USA
 
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Hello CJ
Spent the weekend going thru the thread. Took this trade this morning PST. Was a nice winner but please critique.

Attached Thumbnails
My 6E trading strategy-6e-09-11-377-tick-8_8_2011.jpg   My 6E trading strategy-6e-09-11-1508-tick-8_8_2011.jpg  
 
  #1034 (permalink)
Trading for Profit
aurora,il
 
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8/08 trading

traders,

here is a short video for your review showing some of the days price action and how I traded it

Click this link below to watch

http://www.anymeeting.com/tradingmymethod/E951DD888747


Good Trading

charles


Last edited by cjbooth; August 8th, 2011 at 02:18 PM.
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  #1035 (permalink)
Trading for Profit
aurora,il
 
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cjsiding View Post
Hello CJ
Spent the weekend going thru the thread. Took this trade this morning PST. Was a nice winner but please critique.


It was a good trade - congrats - the only problem was the choppy nature of the price action pre ceeding the entry. When taking a trade like this manage it very tighly until you get a clear break of the chop behind you.

A trade like this can move against you very quickly - dont lose 12 ticks

Charles


Last edited by cjbooth; August 8th, 2011 at 02:19 PM.
 
  #1036 (permalink)
Trading for Profit
aurora,il
 
Futures Experience: Intermediate
Platform: ninja
Broker/Data: AMP, zen-fire
Favorite Futures: currency futures 6E
 
Posts: 319 since Aug 2009
Thanks: 134 given, 1,390 received


Style View Post
Thanks for sharing such a great looking system! I'm intrigued, as it appeals to my trading "sensibilities". I do many similar things to this system in my trading already, just not following these exact rules.

I have a series of questions. I hope you don't mind answering.

A) Why not play the system using forex? What are the advantages of playing the 6e futures contract over a forex cross?

B) Has anyone tried this with other markets besides the euro? If so, which markets worked? Which ones didn't? Are there common characteristics of markets where this system works and where it doesn't work?

I imagine that in order to get this to work in other markets, you would have to adjust either the number of ticks in the chart or the number of ticks to the profit target and stop loss levels. But otherwise, if the system works in one market, it should work in at least a few others. A good system may not be suited for all markets, but it will work in more than one.



Just doing some quick math, and the above yields a Reliability of 77.6% and Profit Factor of 6.9. I've backtested many systems, and those are great numbers. Holy grail type numbers. However, the sample set is relatively small: 67 trades over two months across one market. I'm used to back tests over 50 plus markets, 20 plus years, and thousands of trades. I've seen backtests where across one market and 100 trades it had a Profit Factor of 10, but across 50 markets and 5000 trades the profit factor dropped to 1.10.

With that in mind, I have the following additional questions:

C) Were the last two months of trades typical performance for this system, or were they better than normal? What has the performance of this system been like over a longer period?

D) For anyone else besides Charles trading this system, what have your results been like? Comparable to Charles, or does he have the magic touch, making his stellar performance hard to match?


Thanks in advance! This is very good stuff.

I only trade the 6E and I have no intent or interest in trading the spot forex. trading is hard enough with out my broker trading against me

This method does work with other markets as I have traders in my room trading the ES and they are doing well. With my intent to only trade the 6E I have no advice or suggestions regarding time frames needed to trade the other markets

I have been trading this way since March 2011 on my live account. I have yet had a week where I did not have a net profit at the end of it, I have had net losing days but not weeks.

I know of many traders who have had success with this method and I also know of traders who have not. I believe any trader who puts in the time and hard work to learn this method will have success but that depends on the individual trader, you will get out of this what you are willing to put in

Charles

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  #1037 (permalink)
Membership Revoked
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cjbooth View Post
traders,

here is a short video for your review showing some of the days price action and how I traded it

Click this link below to watch

http://www.anymeeting.com/tradingmymethod/E951DD888747


Good Trading

charles

Dear Charles,

What your doing by posting the highlights of your trading day video is
OFF THE SCALE AWESOME!!!!!!!
Talk about living by the law of abundance...

Since I have a day-job and can not always keep my peeps open during your free trading room
I hope to compile a library of your trading-videos on DVD's for future study!

If the man upstairs has a scoreboard, you definitely have achieved your share of points with this incredible
act of sharing every aspect of your trading success formula with anyone and everyone who cares to listen.

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  #1038 (permalink)
Trading for Profit
aurora,il
 
Futures Experience: Intermediate
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Favorite Futures: currency futures 6E
 
Posts: 319 since Aug 2009
Thanks: 134 given, 1,390 received

8/10 trading

traders,

there was no video yesterday as i did not trade the FOMC session

Today 8/10 there were some very good trades shown in this video

Click this link to view

http://www.anymeeting.com/tradingmymethod/E951DB82814F

good trading

Charles

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  #1039 (permalink)
Banned: trolling
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cjbooth View Post
traders,

there was no video yesterday as i did not trade the FOMC session

Today 8/10 there were some very good trades shown in this video

Click this link to view

http://www.anymeeting.com/tradingmymethod/E951DB82814F

good trading

Charles

thanks, but I hooked up extern speakers and cranked them up and couldn't discern any audible

PS. really appreciate the work that you do, and your kind, generous sharing with others. A true gentleman by definition!

PSS. I tried it again, and wonder of wonder, sound, thanks CJ!


Last edited by kronie; August 10th, 2011 at 04:53 PM.
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  #1040 (permalink)
Elite Member
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kronie View Post
thanks, but I hooked up extern speakers and cranked them up and couldn't discern any audible

PS. really appreciate the work that you do, and your kind, generous sharing with others. A true gentleman by definition!

Thanks Charles great job video sound is fine for me.

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