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My 6E trading strategy
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My 6E trading strategy

  #671 (permalink)
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forrestang View Post
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.


If you are not seeing the wining trades that should come with screen time

As far as you saying most trades you take are stopping you out, I think it would be a good ides for you and all traders following my method to post your losing trades and let me critique the trade as to is it a trade that just did not work or are you miss reading the chart.

I have posted many examples of trades that work so anyone who is not making money with this method lets start posting your losing trades and that may be a better learning experience

When waiting for the market to come to you and giving the right setup most trades with this system should make you some amount of money

Charles

p.s. I'm back to let you know, I flew back home late last night. I kinda had enough of all the goings on and wanted to get back - so thanks again for all the emails and well wishes

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  #672 (permalink)
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kronie View Post
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

Yes i understand. It was just a quick test i did for my own benefit and i wanted to share it. Basically, all the setups identified on the charts have occured at areas as defined in Charles's framework, ie, a HH or LL followed with retracement to the MA(13) or cloud on the longer term chart (1508). But to be more precise i have written these notes:

Long trades: #1, #2, #4
HH and retracement to MA(13)/Cloud.

Short trade #3
Reversal setup where price makes a LL in the cloud and retraces to the MA(13) and top of cloud.

Short trade #5
LL with retracement to MA and cloud. This trade is stretching Charles's rules a bit as the pullback was deep into the cloud but if you look closely, price reversed in the middle of a previous swing low that formed into the cloud. Basically we have a classic breakout of support, retest and previous support becoming resistance.

Short trade #6
Although we do not see new LL forming, price is making LH and price reversed at the clooud and MA. This trade might have given a break even result but certainly not a losing trade. For someone able to suffer some heat (minimal IMO) it would have given a winning trade.

Short trade #7
LL with retracement to MA(13).

Long trade #8
Reversal setup where price makes a HH and retraces to the MA(13).

Long trade #9
HH with retracement to MA(13). Again, this trade might have given a break even result based on the individual management.

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  #673 (permalink)
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trendisyourfriend View Post

Short trade #6
Although we do not see new LL forming, price is making LH and price reversed at the clooud and MA. This trade might have given a break even result but certainly not a losing trade. For someone able to suffer some heat (minimal IMO) it would have given a winning trade.


Long trade #8
Reversal setup where price makes a HH and retraces to the MA(13).

Long trade #9
HH with retracement to MA(13). Again, this trade might have given a break even result based on the individual management.

I think trade 8 would have been a bit rough to catch.

Trades 6 and 9 though, you didn't mention it but those were nice DTs and DBs though.

It will be interesting to see if yesterday just so happened to fit that chart nicely, or if it will be that way most of the time. One nice thing about that range chart though, is that when those DTs or DBs do form, they are obvious on the range chart due to the blocky nature.

Momentum Bar Thread

Momentum Bar Indie

Attached Thumbnails
My 6E trading strategy-6e_setups_cjbooth_june29_b.jpg  

Last edited by forrestang; June 30th, 2011 at 10:22 AM.
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  #674 (permalink)
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Momentum Bars

Trend is Your Friend-

Thanks for your post. Could you please direct me to a thread about :momentum bars. What is the difference between them and range bars?

Thanks

 
  #675 (permalink)
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wireford View Post
Trend is Your Friend-

Thanks for your post. Could you please direct me to a thread about :momentum bars. What is the difference between them and range bars?

Thanks

https://futures.io/elite-circle/8519-momentum-barstype-ninjatrader-7-a.html

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  #676 (permalink)
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Wound up being a BE effort.

But we had a DB on the 1508 at top of cloud, slight divergence on 377, then a minor divergence at the lows. Entry above cloud. There was a round number above. Could have used the dojis that formed near the top of the move, but I was waiting for a higher close.

BE+1 wound up getting hit. Have been trailing on under superTrend by 2 tics, till I get to BE +1, then letting it go until reversal bars form in my direction.

Attached Thumbnails
My 6E trading strategy-prime2011-06-30_112029.jpg  
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  #677 (permalink)
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forrestang View Post
Wound up being a BE effort.

But we had a DB on the 1508, slight divergence on 377, then a minor divergence at the lows. Entry above cloud. There was a round number above. Could have used the dojis that formed near the top of the move, but I was waiting for a higher close.

BE+1 wound up getting hit. Have been trailing on under superTrend by 2 tics, till I get to BE +1, then letting it go until reversal bars form in my direction.

This trade had an entry within 15 ticks of a whole # 1.4500, my rule states that you should not do that

If you take the trade as that was a valid signal with the dbl btm you need to watch it very close and if there is a price rejection at the # or the candles break above it and then close below it close the trade

If you need the indicator that plots horizontal lines at the Whole #'s here it is

RoundNumbers.zip


Charles

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  #678 (permalink)
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trendisyourfriend View Post
Yes i understand. It was just a quick test i did for my own benefit and i wanted to share it. Basically, all the setups identified on the charts have occured at areas as defined in Charles's framework, ie, a HH or LL followed with retracement to the MA(13) or cloud on the longer term chart (1508). But to be more precise i have written these notes:

Long trades: #1, #2, #4
HH and retracement to MA(13)/Cloud.

Short trade #3
Reversal setup where price makes a LL in the cloud and retraces to the MA(13) and top of cloud.

Short trade #5
LL with retracement to MA and cloud. This trade is stretching Charles's rules a bit as the pullback was deep into the cloud but if you look closely, price reversed in the middle of a previous swing low that formed into the cloud. Basically we have a classic breakout of support, retest and previous support becoming resistance.

Short trade #6
Although we do not see new LL forming, price is making LH and price reversed at the clooud and MA. This trade might have given a break even result but certainly not a losing trade. For someone able to suffer some heat (minimal IMO) it would have given a winning trade.

Short trade #7
LL with retracement to MA(13).

Long trade #8
Reversal setup where price makes a HH and retraces to the MA(13).

Long trade #9
HH with retracement to MA(13). Again, this trade might have given a break even result based on the individual management.

I was thinking about this, have you put the global cross hairs on the 1508 and 377?, and then looked at this again?

see if your trade conclusions still hold true on the 377, as we use that for timing the actual entry and on the larger timeframe more things really do seem possible than practical

by all means, if it has produced more viable and profitable trades, what's holding you and all of us back, other than just being thorough in our reviews

 
  #679 (permalink)
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training video

traders,

i have created a video of todays price action & how I traded it

Click this link to view it

http://www.anymeeting.com/tradingmymethod/E156D88487

If you find while watching it that the audio/video is out of sync you need to close other applications you are running in order to free up your computers video memory aka email,trading platform

Enjoy,

Charles

 
  #680 (permalink)
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DB and DTs


Charles-

Am a little confused as to what you are using to determine DB/DT. It seems sometimes use the body on one and the wick on the other. Also, it appears the close is what you are looking for. Need clarification.

Thanks for the great video. Next one might have an exploded view of how you determine DB/DT.

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