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My 6E trading strategy
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My 6E trading strategy

  #191 (permalink)
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today?

if you meant today, i didn't see any signal on 7:14 CST chart, could you please post a chart? thanks

 
  #192 (permalink)
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masood chughtai View Post
Charles can you please comment on a short set up at 7:14 cst that failed . Can you comment on that


see the 2 charts where i point out on the 1508 where the potential for the setup was. On the 377 there were 2 chances to get in except for 1 thing you missed

I spoke intensively about this Friday - trading into a known whole # area 1.4600 is not advised - there are always standing orders at these levels and your trade can go against you very quickly at these levels

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mark horizontal lines on the 1508 at whole #'s so you don't forget where they are

Charles

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  #193 (permalink)
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HH on 377 at 6:13A


Charles-
Does the HH at 6:13A negate setup on 377 as per rule 6 on short trades or is that considered a double top? Understand and have marked whole numbers.

 
  #194 (permalink)
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cjbooth View Post
Exactly which is why you dont take that trade.

A LH follwed by a HL is not an uptrend its a sign of congestion

Wait for the right setups - patience - they will appear but not 10 times a day

You start jumping on every move that looks like it will go and the only thing that will go is your money to somebody else. I've been there and I have learned to sit on my hands and only take the trades with a high probability of success and that one you reference is not one of them.

that is what this method is all about waiting,patience, and discipline. If you need 10 trades a day this method is not for you


Charles

Have you ever tried trading this on lower time frames like 356tick / 89tick charts using smaller risk/target in order to get more signals? Ever traded this system with range bars?

 
  #195 (permalink)
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monpere View Post
Have you ever tried trading this on lower time frames like 356tick / 89tick charts using smaller risk/target in order to get more signals? Ever traded this system with range bars?


smaller time frames are way too fast for one, and will give you more trades true but most them will be false signals (losing trades)

Charles

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  #196 (permalink)
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Just Very, Very Quiet

Hi Traders,

Today is almost impossible to trade or at least the way I do . 2 reasons come to mind as to why we are seeing this or nothing I call it

1. The market is consolidating after an extreme up day Friday

2. It's Monday which usually brings no major news events with it to spur activity

For the day the Euro's range is a meager 61 ticks. the average daily range of the Euro is 150+ ticks, so as you can see with less than half of its daily range there is no wonder that I have not took any trades

Sometimes its best to have a system that keeps you from losing money so you can live for another day.

Charles

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  #197 (permalink)
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Have you ever tried to track two or more markets like CL, RUSSELL etc.

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  #198 (permalink)
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trendisyourfriend View Post
Have you ever tried to track two or more markets like CL, RUSSELL etc.


Personally no I dont, I know a lot of traders that do but I like to just focus on 1 market. When I have tried to watch several in the past I tend to lose focus and make mistakes, so I just stick to the one that takes of me by the end of the week

Charles

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  #199 (permalink)
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Charle please comment on a long set up at 10:35 cst. Thanks

 
  #200 (permalink)
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Stay patient


Hi Traders,

i am posting a picture of my 1508 chart for those getting too eager to trade.

You see all the congestion we have been having all day - just sideways back & forth

Notice the shaded area, if you were watching twice the 377 showed a trade signal to go long as each time the price came back to the MA and bottom edge of the cloud.

Also notice that the top of the cloud rejected both moves - Just dont trade until the market breaks into a strong trend if it ever does today. this is just way too messy

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Trading today is just not good plain & simple


Charles

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