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My 6E trading strategy
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My 6E trading strategy

  #271 (permalink)
Trading for Profit
aurora,il
 
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vladleb View Post
Charles,

Pls comment the trade just completed...
I was going up...

All rules observed, pls clarify.

Thanks

If i am seeing your chart correctly you went long around 3:32 on that up bar closing above the cloud.

Notice how excessively wide the trigger lines are as that bar forms. I posted a few days ago about this nuance. When the trigger lines width is that wide it is unlikely that 1 candle going through them will turn the trigger lines back up. What is likely is price will come back down to them and either continue up or blow right back down through them as was the case here.

Charles

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  #272 (permalink)
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that would be perfect, if anyone would be in the mood to do so -.,-.,-.,


trendisyourfriend View Post
I like the way you wrote your comment here. I think it is a very good idea (in the learning phase) to repeat the rules as you did. I would also suggest to write two separated numbered lists for the charts (1508, 377).


 
  #273 (permalink)
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@PowerM and @trendisyourfriend - see posts 241 and 246 for something like what you're talking about

 
  #274 (permalink)
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6/09 trade

GM Traders

here is the 1st trade today - as you will see I just follow the rules & do the same thing everyday

1508 chart LL followed by pullback to MA

377 chart hidden divergence confirms entry

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Post any questions you may have concerning this setup

Charles

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  #275 (permalink)
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Please explain that why you did not consider going short on two mini swings couple of bars earlier that also touched 13 ema. What distiguishes this one from the ones at 7:54 and 7:59 on 1508 chart. Thanks

 
  #276 (permalink)
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Charles - I have a question on that setup (nice work on that trade btw):

In other trades, I've seen you wait for the bar after the doji on the 377 to close before entering (in this case I would expect you to wait for the bar ending around 8:12 to close before selling at its close). Obviously this bar closed low - around 4519 or so, and this would have prevented the trade b/c you wouldn't have 21 ticks before support at 4500. (I realize that we may have different bar closes or range b/c of different data providers)

In this case, I can understand several reasons for going short as soon as a bar closed below the cloud and triggerlines - there was a great deal of down momentum and a test of 4500 seemed inevitable. However, because this entry seems to be different than other entries you've made, I'd like to hear your thought processes during that trade to understand some of the discretionary aspects of your decision-making.

thanks again.

 
  #277 (permalink)
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cjbooth View Post
GM Traders

here is the 1st trade today - as you will see I just follow the rules & do the same thing everyday

1508 chart LL followed by pullback to MA

377 chart hidden divergence confirms entry

Attachment 40582 Attachment 40583

Post any questions you may have concerning this setup

Charles

Seems my charts are slightly different. The bar two bars before your entry on my chart closed below the trigger lines. Entered on the next bar at 1.4528.

On the two failed setups at 8:54 EST and 8:59 EST you pointed out, do you only look at the break of the zigzag pivot on the close on the 1508 chart? My 1508 did not show a close below those pivot lows which matches your chart, but on the 377, there were closes below the pivot lows on the zigzag. I was hesitant about taking those trades because of the conflicting signals.

Thanks,
-C

“Strategy without tactics is the slowest route to victory. Tactics without strategy is the noise before defeat.” - Sun Tzu
 
  #278 (permalink)
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masood chughtai View Post
Please explain that why you did not consider going short on two mini swings couple of bars earlier that also touched 13 ema. What distiguishes this one from the ones at 7:54 and 7:59 on 1508 chart. Thanks


see this 1508 chart Masood, you were not making LL's on those previous swings

Candles MUST CLOSE below the prior swing

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Charles

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  #279 (permalink)
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Surly View Post
Charles - I have a question on that setup (nice work on that trade btw):

In other trades, I've seen you wait for the bar after the doji on the 377 to close before entering (in this case I would expect you to wait for the bar ending around 8:12 to close before selling at its close). Obviously this bar closed low - around 4519 or so, and this would have prevented the trade b/c you wouldn't have 21 ticks before support at 4500. (I realize that we may have different bar closes or range b/c of different data providers)

In this case, I can understand several reasons for going short as soon as a bar closed below the cloud and triggerlines - there was a great deal of down momentum and a test of 4500 seemed inevitable. However, because this entry seems to be different than other entries you've made, I'd like to hear your thought processes during that trade to understand some of the discretionary aspects of your decision-making.

thanks again.

You have confirmation on the entry when a candle closes below the low of a Doji,hammer, or spinning top

Charles

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  #280 (permalink)
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cbritton View Post
Seems my charts are slightly different. The bar two bars before your entry on my chart closed below the trigger lines. Entered on the next bar at 1.4528.

On the two failed setups at 8:54 EST and 8:59 EST you pointed out, do you only look at the break of the zigzag pivot on the close on the 1508 chart? My 1508 did not show a close below those pivot lows which matches your chart, but on the 377, there were closes below the pivot lows on the zigzag. I was hesitant about taking those trades because of the conflicting signals.

Thanks,
-C

the 1508 chart must be right FIRST. ignore the 377 until the 1508 setups first
Charles

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