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My 6E trading strategy
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My 6E trading strategy

  #661 (permalink)
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Lmess View Post
The screenshot was the one forrestang posted.However, in my charts, the high/low range of that upbar is 1.4371 low to 1.4383 high.

But in general terms, what do you do in cases like this one, where the distance between trigger lines and cloud is wide? Would you take the trade as soon as it closes above the cloud, regardless of where the trigger lines are as long as they are not too wide apart (in this screenshot they were flat)? Or do you wait for price to close above trigger lines eventhough the stop would be quite large? Or do you simply skip the trade and wait for another setup?


Seeing this in hindsight of course, i would have entered the trade intrabar since the trigger lines are flat they are a non issue in the trade. Any price rejection of the trigger lines I would have closed the trade, also once the bar closed above the trigger any close back below them before the trade is in profit I would have closed the trade.

Looking back on forrest's chart look at the price action on the 50MA on the 1508 - that is a double bottom as the 1st time down price bounced and then went back down and tested the 50 again creating the double bottom or the "W" pattern. I did not see this before in looking at his chart - a "W" pattern in the direction of the trend is huge. that being said if I had seen that before then the earlier trade he mentioned would have been a valid trade.

"W" patterns in an uptrend and "M" in a downtrend are major trend continuation signals

Charles

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  #662 (permalink)
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trading range on Euro?

Hi all - one thing I've seen before that I wonder if some of you have too - when an instrument puts in a giant up/down bar in a surge of high volume trading, that bar(s) often creates a trading range for a time. For instance the action this morning from about 7:45 CST to 8 CST was just this type. I think it may have created a trading range between 4300 and 4420. We'll see if this trading range holds while the euro is moving up to test the top of it.

I only mention it in case folks want to exercise caution on long trades up around 4400...

Please let me know if any of you have seen this type of behavior in the past.

thanks,
surly

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cjbooth View Post
Seeing this in hindsight of course, i would have entered the trade intrabar since the trigger lines are flat they are a non issue in the trade. Any price rejection of the trigger lines I would have closed the trade, also once the bar closed above the trigger any close back below them before the trade is in profit I would have closed the trade.

Looking back on forrest's chart look at the price action on the 50MA on the 1508 - that is a double bottom as the 1st time down price bounced and then went back down and tested the 50 again creating the double bottom or the "W" pattern. I did not see this before in looking at his chart - a "W" pattern in the direction of the trend is huge. that being said if I had seen that before then the earlier trade he mentioned would have been a valid trade.

"W" patterns in an uptrend and "M" in a downtrend are major trend continuation signals

Charles

OK, so if I understand correctly, even though there is a LH/LL (slightly), putting in the double bottom at the 50 MA in the direction of the prior trend makes it a valid signal? Makes sense, just confirming understanding.

Thanks-

 
  #664 (permalink)
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Simple View Post
OK, so if I understand correctly, even though there is a LH/LL (slightly), putting in the double bottom at the 50 MA in the direction of the prior trend makes it a valid signal? Makes sense, just confirming understanding.

Thanks-

yes that is correct again a "W" or "M" pattern on the 1508 is very significant

Charles

 
  #665 (permalink)
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forrestang View Post
You must be talking about this one. Definitely a hidden divergence though. I have thought quite a few times about adding in trades with hidden divergence that pullback to the 13. Just not sure though.

What didn't you like about that 2nd trade I posted the first time?

I was noticing where you drew your line to show the HD, using the lower lows of the Stoch,

when I saw your charts, my eyes were drawn to the tops of those spikes, and I would have drawn the same line, just using the tops of the Stoch peaks,

and possibly done the same thing, with a trade based on same conclusion,

just an observation

what I was surprised with, is why didn't anyone call attention to the prior HD (hidden divergence) at 3:00am - 3:24am, catching the drop from .4382 through .4360 or so

 
  #666 (permalink)
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Amp Futures

Is anyone else having problems with Amp Futures to access their own account or statements. Their clearing House is temporarily shut down for maitenance since I tried to look at the staement as of Monday June 27, 2011. Guy at the desk said to call during business hours and that he doesnt know about this situation

 
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I was able to find them under Velocity Future. I guess they moved the site without informing the clients

 
  #668 (permalink)
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Hi guys,

I was playing around Charles's layouts after the session, namely the 1508 ticks or longer term chart. Since i like very much eman's bar type, i decided to filter price action and the many swings through a 8 Momentum No-Gap chart. I knew it would show a different perspective and i was agreeably surprised to find up to 9 potential setups of 21 ticks. On the charts, i placed a scale in blue representing 21 ticks. We can still use the 377 ticks chart to fine tune the entry while to some extent filter the noise with the Momentum chart. As they say, beauty is in the eyes of the trader... a potential of 189 ticks in a single day, not bad for a perfect day.

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My 6E trading strategy-6e_setups_cjbooth_june29_a.jpg   My 6E trading strategy-6e_setups_cjbooth_june29_b.jpg  
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trendisyourfriend View Post
Hi guys,

I was playing around Charles's layouts after the session, namely the 1508 ticks or longer term chart. Since i like very much eman's bar type, i decided to filter price action and the many swings through a 8 Momentum No-Gap chart. I knew it would show a different perspective and i was agreeably surprised to find up to 9 potential setups of 21 ticks. On the charts, i placed a scale in blue representing 21 ticks. We can still use the 377 ticks chart to fine tune the entry while to some extent filter the noise with the Momentum chart. As they say, beauty is in the eyes of the trader... a potential of 189 ticks in a single day, not bad for a perfect day.


while the chart change is impressive, similar to the artificial results that a "no gap range bar" indicator has on charts in contrast to just having range bars,

while its impressive, it would be more beneficial to perhaps justify why you see, or would take or consider taking 9 trades off the 1508, nothing lengthy, just an explanation, such as:

a) retrace into the 13 sma
b) double bottom and divergence on the stochs

or something like that, because replay and review rarely translates into live session action, and Charles' method is a preservative one, where conservative analysis keeps one out of chop and protects ones' account, instead of being more active, or going for less than 21tick goals

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  #670 (permalink)
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kronie View Post

what I was surprised with, is why didn't anyone call attention to the prior HD (hidden divergence) at 3:00am - 3:24am, catching the drop from .4382 through .4360 or so

I'm a bit weary of most of the trades that don't have a standard divergence present, as it seems since I've been messing with this I've been burned too many times by the NON-divergence trades.

Still trying to find that happy medium of a easy to spot trade, along with a setup, and stop management strategy that appears to win more than loose. So far though, most of the trades I have found have stopped me out.

--------EDIT - disclaimer--------------------------------------------------------------------------

I would just like to mention that any of my posts ARE NOT meant to somehow be a negative indictment on the thread or the concepts discussed. In thinking about it, I can see how someone may interpret what I say as me attempting to somehow bash the concepts in the thread.

I can assure you that IS NOT the case. I am simply posting my personal observations, in hopes that someone can either point out something that I am over looking, or maybe someone else has had a similiar observation or problem and maybe something I post helps someone else out.


Last edited by forrestang; June 29th, 2011 at 11:00 PM.
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