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My 6E trading strategy
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Created: by cjbooth Attachments:356

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My 6E trading strategy

  #371 (permalink)
Trading for Profit
aurora,il
 
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trendisyourfriend View Post
I think you have it wrong. Price needs to retrace to the MA or cloud. This should be easy to understand. It can even poke through it. But if it does you need to make sure the 377 ticks chart keeps the series of HH HL or LL LH intact. If you look at my RUSSELL trade example it should become clear. See chart included.


This is correct, the market must maintain the LL/LH patterns. Price can poke through the cloud but I prefer it does not. If it does and the trade fires on the 377 correctly manage the trade very close at the start, the market moves in your direction immediately or exit the trade, the bottom edge of the cloud can reverse the market

Charles

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  #372 (permalink)
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kalalex View Post
Charles,

I found some difference in your chart (post #340) and my chart (below).

I checked the parameters and they are the same (1,1,true, black). (I'm talking about zigzagUTC)

Would you know why?

Thanks.

PS: I get my data from zenfire too.

Tick charts can vary from 1 chart to another as well as what time I start my chart versus what time you start yours. Ninja Trader plots trick charts the time you start the platform, it takes the 1st tick and counts backwards 377 to plot the bars. just 1 or 2 tick difference in price can affect the ZigZag plots

Charles

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  #373 (permalink)
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cjbooth View Post
Tick charts can vary from 1 chart to another as well as what time I start my chart versus what time you start yours. Ninja Trader plots trick charts the time you start the platform, it takes the 1st tick and counts backwards 377 to plot the bars. just 1 or 2 tick difference in price can affect the ZigZag plots

Charles

Ok.
That explains why you said a retrace was gone after you reloaded the chart in previous post,,,,and that's why I coulnd't find

certain setup I found from downstairs computer and couldn't from upstairs computer....

 
  #374 (permalink)
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kalalex View Post
Ok.
That explains why you said a retrace was gone after you reloaded the chart in previous post,,,,and that's why I coulnd't find

certain setup I found from downstairs computer and couldn't from upstairs computer....

Let me explain that you could possibly avoid this internal confusion if you would use only one computer


Last edited by PowerM; June 14th, 2011 at 04:05 AM. Reason: text
 
  #375 (permalink)
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kalalex View Post
I think we have to first remember this is "DISCRETIONARY" system before we further discuss anything.

I'm writing this post as a note to myself also,,,,and purely my opinion.

I looked at over about 50 days worth of charts for 3 different instruments over the weekend and 2 things I found are,,,

1. This system works for sure.

2. Again it's discretionary (you can use this fact with wise trade management to your advantage)

That being said,,,about your 1508 chart,,,since it poked through the other side of RED cloud with flat

line(STRONG resistance) the market just told you bulls are getting stronger or coming back to market.

With this in mind you can manage your trade very tightly or if it was me I would trade only 1/4 of my full

contracts.

Now if there's an ALMOST PERFECT setup with narrow trigger lines, channel flat or moving in my direction,

stochastic moved over more than half, small risk, etc then I would load the boat.

One guy that I'm trying to learn pure price action from keeps saying that the most hardest thing in trading

is staying away from bad trades. He tries to talk himself out of these bad ones all day.

I think what Charles came up with is just intended to do that,,,staying away from losers.

You are right, i have checked this trade again with a fresh look and it's more of a scalp trade and more risky. I am certainly influenced by my other approaches. I think it is a good exercice to look at someone else system. It forces me to become aware of behavioral patterns i developed over the months. Thanks for your comment.

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  #376 (permalink)
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cjbooth,

I wanted to ask you beside the two charts (1508, 377) do you look at key levels like daily Pivots, previous day High/Low, Yesterday middle, Today's middle, Prior settlement etc. Do you consider these levels for your targets or it's always a fixed 21 ticks objective ?

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  #377 (permalink)
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trendisyourfriend View Post
cjbooth,

I wanted to ask you beside the two charts (1508, 377) do you look at key levels like daily Pivots, previous day High/Low, Yesterday middle, Today's middle, Prior settlement etc. Do you consider these levels for your targets or it's always a fixed 21 ticks objective ?


i am aware of yesterday's h/l/c and today's h/l, I do not use pivots or fibs

Charles

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  #378 (permalink)
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For the record (i was asleep), i noted this trade on the Euro at around 2:44 EST.

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My 6E trading strategy-6e_20110614_t1.jpg  
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  #379 (permalink)
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For the record, a trade reversal at 6:32 EST. Was taking my breakfast

Followed by a nice divergence for monpere

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My 6E trading strategy-6e_20110614_t2.jpg  
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  #380 (permalink)
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CST 8:03


I took this trade, Charles, is 1508 eligible for the trade?

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My 6E trading strategy-6e-09-11-1508-tick-6_14_2011.jpg  

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