NexusFi: Find Your Edge


Home Menu

 





My 6E trading strategy


Discussion in Currencies

Updated
      Top Posters
    1. looks_one cjbooth with 316 posts (1,353 thanks)
    2. looks_two trendisyourfriend with 146 posts (168 thanks)
    3. looks_3 forrestang with 89 posts (117 thanks)
    4. looks_4 supermht with 71 posts (31 thanks)
      Best Posters
    1. looks_one cjbooth with 4.3 thanks per post
    2. looks_two Big Mike with 2.9 thanks per post
    3. looks_3 forrestang with 1.3 thanks per post
    4. looks_4 trendisyourfriend with 1.2 thanks per post
    1. trending_up 440,307 views
    2. thumb_up 2,161 thanks given
    3. group 195 followers
    1. forum 1,177 posts
    2. attach_file 352 attachments




Closed Thread
 
Search this Thread

My 6E trading strategy

  #701 (permalink)
cjbooth
aurora,il
 
Posts: 319 since Aug 2009
Thanks Given: 134
Thanks Received: 1,405


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


Can you help answer these questions
from other members on NexusFi?
Are there any eval firms that allow you to sink to your …
Traders Hideout
Online prop firm The Funded Trader (TFT) going under?
Traders Hideout
Build trailing stop for micro index(s)
Psychology and Money Management
The space time continuum and the dynamics of a financial …
Emini and Emicro Index
Deepmoney LLM
Elite Quantitative GenAI/LLM
 
Best Threads (Most Thanked)
in the last 7 days on NexusFi
Get funded firms 2023/2024 - Any recommendations or word …
59 thanks
Funded Trader platforms
37 thanks
NexusFi site changelog and issues/problem reporting
23 thanks
GFIs1 1 DAX trade per day journal
22 thanks
The Program
19 thanks
  #702 (permalink)
 
trendisyourfriend's Avatar
 trendisyourfriend 
Quebec Canada
Market Wizard
 
Experience: Intermediate
Platform: NinjaTrader
Broker: AMP/CQG
Trading: ES, NQ, YM
Frequency: Daily
Duration: Minutes
Posts: 4,527 since Oct 2009
Thanks Given: 4,171
Thanks Received: 6,018


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)
 
forrestang's Avatar
 forrestang 
Chicago IL
 
Experience: None
Platform: Ninja, MT4, Matlab
Broker: CQG, AMP, MB, DTN
Trading: E/U, G/U
Posts: 1,329 since Jun 2010
Thanks Given: 354
Thanks Received: 1,047



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.

Thanked by:
  #704 (permalink)
 mizzoutrader 
Kansas City, MO
 
Experience: Beginner
Platform: NinjaTrader
Trading: Futures
Posts: 36 since Jul 2010
Thanks Given: 494
Thanks Received: 10


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)
cjbooth
aurora,il
 
Posts: 319 since Aug 2009
Thanks Given: 134
Thanks Received: 1,405


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

  #706 (permalink)
 sambar 
belfast
 
Experience: Advanced
Platform: ninjatrader
Broker: mirus zenfire
Trading: 6e
Posts: 12 since Oct 2009
Thanks Given: 113
Thanks Received: 11


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

Thanked by:
  #707 (permalink)
 mizzoutrader 
Kansas City, MO
 
Experience: Beginner
Platform: NinjaTrader
Trading: Futures
Posts: 36 since Jul 2010
Thanks Given: 494
Thanks Received: 10

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)
cjbooth
aurora,il
 
Posts: 319 since Aug 2009
Thanks Given: 134
Thanks Received: 1,405


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

  #709 (permalink)
 
forrestang's Avatar
 forrestang 
Chicago IL
 
Experience: None
Platform: Ninja, MT4, Matlab
Broker: CQG, AMP, MB, DTN
Trading: E/U, G/U
Posts: 1,329 since Jun 2010
Thanks Given: 354
Thanks Received: 1,047


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.

Thanked by:
  #710 (permalink)
cjbooth
aurora,il
 
Posts: 319 since Aug 2009
Thanks Given: 134
Thanks Received: 1,405



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


Closed Thread



Last Updated on October 5, 2011


© 2024 NexusFi™, s.a., All Rights Reserved.
Av Ricardo J. Alfaro, Century Tower, Panama City, Panama, Ph: +507 833-9432 (Panama and Intl), +1 888-312-3001 (USA and Canada)
All information is for educational use only and is not investment advice. There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
About Us - Contact Us - Site Rules, Acceptable Use, and Terms and Conditions - Privacy Policy - Downloads - Top
no new posts