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My 6E trading strategy
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My 6E trading strategy

  #701 (permalink)
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forrestang View Post
As Charles mentioned, I was fully expecting the market to be a but coiled after the holiday. But right at the open I thought I sensed a bit of movement.

Short was based on a LL right after the open with a pb to the 13ma. Price makes a HH on the 377, but then shows a double top with a hidden divergence. Took the short.... in hindsight, I notice there really wasn't a doji or reversal bar near the highs around my short.

I was watching the last swing Low in anticipation of stalling. Once price started making those equal bars at the lows, I was able to move to BE+1.

Since that trade, the market has been mostly coiling and hasn't produced anything worth trading.


Good job seeing the signal, like you say there is just no follow through or general movement in the mkt today. i guess everybody took a 4 day weekend except us.

We did have this recent move down that finally broke the range and made a LL on the 1508, I was watching the retrace and sure enough when the price gets back to resistance the mkt stops and just sits there.

This is really dangerous trading conditions, it may be best to study your previous charts and wait until tomorrow

It certainly cant get much worse than this

Charles

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  #702 (permalink)
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forrestang View Post
As Charles mentioned, I was fully expecting the market to be a but coiled after the holiday. But right at the open I thought I sensed a bit of movement.

Short was based on a LL right after the open with a pb to the 13ma. Price makes a HH on the 377, but then shows a double top with a hidden divergence. Took the short.... in hindsight, I notice there really wasn't a doji or reversal bar near the highs around my short.

I was watching the last swing Low in anticipation of stalling. Once price started making those equal bars at the lows, I was able to move to BE+1.

Since that trade, the market has been mostly coiling and hasn't produced anything worth trading.

Did you make any money with this trade ? i ask this as i think it moved 10 ticks in your direction at some point.

 
  #703 (permalink)
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trendisyourfriend View Post
Did you make any money with this trade ? i ask this as i think it moved 10 ticks in your direction at some point.

Nah. My BE+1 was hit. I had about 10 tics in open profit at once. And I was looking for a doji or a reversal bar to form so that I can adjust my trail. The only logical pa was kinda large (that sideways chop near the lows), with stop above that.

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  #704 (permalink)
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mizzoutrader View Post
Hi Charles. Thanks for the videos, they are helping alot. One suggestion I might make is to not use the global cross hairs on your chart, just use the regular cross hairs instead. Sometimes it is hard for me to follow which chart you are on when you are making a point, because the cross hairs are on both charts at the same time.

I have a question - your first 2 trades today were both fairly close to the cash opening this morning. I thought you had mentioned awhile back that you do not trade 15 minutes either side of the opening or major news announcements. I think your second trade this morning was around 8:31 cst. Thanks for all of your help.

Hi Charles. I don't think I was clear with my question. Do you normally trade close to the open, or did you see something out of the ordinary on Friday that made you take a trade so close to the open?

 
  #705 (permalink)
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mizzoutrader View Post
Hi Charles. I don't think I was clear with my question. Do you normally trade close to the open, or did you see something out of the ordinary on Friday that made you take a trade so close to the open?


I certainly do not prefer trades that occur right at the U S open. On this day you ask about the mkt is in a fairly good down trend so I took a shot at it.

The results of those 2 trades speak as to why I prefer not to take trades at the open as 1 lost and 1 won just a little

It is quite common for the lows or highs to be tested right after the open resulting in quick reversals


Charles

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  #706 (permalink)
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Video


cjbooth View Post
Traders,

here is a video like yesterday where I discuss the day's price action and trading oppurtunities






Again, if the video & audio are not in sync you need to close other applications running on your computer to free up your video cards memory


I would appreciate your feedback on the video posting as to if it is helping you better understand the way i trade, if it does I will most certainly continue to do this

I hope everyone has a good weekend and a happy and safe 4th of July


Charles

Charles thanks for taking the time to make video helps me understand your way of trading

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  #707 (permalink)
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Wow, I took took two sim trades this morning, and made 21 ticks on each. I went short at 6:53 cst and again at 9:14 cst(I am not sure how to post my charts). Thanks Charles. Were there some other trades in that downtrend this morning that I missed?

 
  #708 (permalink)
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mizzoutrader View Post
Wow, I took took two sim trades this morning, and made 21 ticks on each. I went short at 6:53 cst and again at 9:14 cst(I am not sure how to post my charts). Thanks Charles. Were there some other trades in that downtrend this morning that I missed?


there have been some good trades this morning I will post a video in a bit

Charles

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  #709 (permalink)
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mizzoutrader View Post
Wow, I took took two sim trades this morning, and made 21 ticks on each. I went short at 6:53 cst and again at 9:14 cst(I am not sure how to post my charts). Thanks Charles. Were there some other trades in that downtrend this morning that I missed?

I caught some really nice shorts today as well. I caught the one @ 6:53, but I missed the short that occurred at 9:12 though. It was a mental mistake, as the trade was rather obvious.

I also took a short @ 7:38 that I lost 3 tics on.

There was a subtle divergence on a H&S/DT @ 5:25 that I missed. I almost pulled the sell button on that one, but didn't for some reason.

I was looking to get short also @ 5:53, but it occurred rather low on the swing, and the stoch divergence occurred below the 50 line, so I stayed away from that, but it went 21 tics.

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  #710 (permalink)
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forrestang View Post
I caught some really nice shorts today as well. I caught the one @ 6:53, but I missed the short that occurred at 9:12 though. It was a mental mistake, as the trade was rather obvious.

I also took a short @ 7:38 that I lost 3 tics on.

There was a subtle divergence on a H&S/DT @ 5:25 that I missed. I almost pulled the sell button on that one, but didn't for some reason.

I was looking to get short also @ 5:53, but it occurred rather low on the swing, and the stoch divergence occurred below the 50 line, so I stayed away from that, but it went 21 tics.


You read the chart perfectly this morning - you almost stole my video topics as I would be explaining every setup that you have mentioned here -

Charles


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