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My 6E trading strategy
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My 6E trading strategy

  #771 (permalink)
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cjbooth View Post
traders,

here is my interpretation of the market today & how i traded it

click here to watch

http://www.anymeeting.com/tradingmymethod/E158D78484

you want if you can to stay up to date with my videos, I have come to learn that these videos I produce automatically get deleted from the any meeting server 7 days after i make it. So in either case there should always be 7 videos you can watch

Have a good rest of the day

Good trading
Charles


Thanks Charles. Great video and a great day of trading today.

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  #772 (permalink)
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Now I'm up to date with the videos as well. Here are a couple new things I learned:

1. You look for divergences to take place when looking for an entry. If everything sets up properly in the 1508 and 377 tick chart, but there is no divergence in the 377 tick chart, you do not take the trade. If the stochastics indicator is moving the same as price, you don't take the trade.

2. When trigger lines are somewhat wide, you want to see one of the trigger lines go flat or start to reverse to take the trade. If price immediately reverses and closes back in the direction of the trigger lines, against you, you close the trade.

3. You want to see Stochastics below the 50 line on the entry bar when going long and above it when going short.

One thing I seem to have missed is that I remember you saying that you changed the settings for the Keltner channel so the lines are closer together, what setting do you use? When you mentioned that in the video I forgot to write it down and it's pretty hard looking back through the video to find where you said that.

 
  #773 (permalink)
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Lmess View Post

One thing I seem to have missed is that I remember you saying that you changed the settings for the Keltner channel so the lines are closer together, what setting do you use? When you mentioned that in the video I forgot to write it down and it's pretty hard looking back through the video to find where you said that.

He said he changed it to 0.8.

For me, I think I might eventually remove them from my chart as I'm not personally finding any use for them really. Those or the Donch Channel.

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  #774 (permalink)
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masood chughtai View Post
I did,nt post about this indicator before, but it gives you a numerical number on MA slope and can be downloaded from futures.io (formerly BMT) indicators under MA Slope Multi. I have set it to WDS 21.

Hi Masood. I downloaded the MA slope indicator you mentioned and set it up as you described. What slope is it measuring? I am a little confused on what exactly it is telling me. Thanks.

 
  #775 (permalink)
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Lmess View Post
Now I'm up to date with the videos as well. Here are a couple new things I learned:

1. You look for divergences to take place when looking for an entry. If everything sets up properly in the 1508 and 377 tick chart, but there is no divergence in the 377 tick chart, you do not take the trade. If the stochastics indicator is moving the same as price, you don't take the trade.

I got the same interpretation too. That is not mentionned in the PDF. In fact, it contradicts what is in the PDF since for a trade to take place you need a HH or LL in both charts (1508,377). Obviously, if this is what happens then the stochastic will also mimic price. SO is this a trade setup or do we need also some kind of divergence all of the time ? This is not clear to me and i suppose it is not for others too. The more we see what Charles is doing, the more we find rules and exceptions.

 
  #776 (permalink)
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mizzoutrader View Post
Hi Masood. I downloaded the MA slope indicator you mentioned and set it up as you described. What slope is it measuring? I am a little confused on what exactly it is telling me. Thanks.

The way I use it is that it gives me an angle or slope of keltner 21 centerline at the time price closes above or below triggerlines on 377 tick chart. By observation I have found that as long as that angle or slope is within 10 degrees, most likely triggerlines would roll over.

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  #777 (permalink)
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trendisyourfriend View Post
I got the same interpretation too. That is not mentionned in the PDF. In fact, it contradicts what is in the PDF since for a trade to take place you need a HH or LL in both charts (1508,377). Obviously, if this is what happens then the stochastic will also mimic price. SO is this a trade setup or do we need also some kind of divergence all of the time ? This is not clear to me and i suppose it is not for others too. The more we see what Charles is doing, the more we find rules and exceptions.

It's not in the rules, that's why I posted it as something new I learned .

At the beginning, I was a little obnoxious because I kept questioning Charles about the rules. Eventually, I've come to the conclusion that those rules serve as general guidelines, but there are some exceptions to the rules that have appeared as the thread has grown. I've taken mental notes about some of them, (maybe I should write them down) and have also concluded that this is not a strictly mechanical system. It has some discretionary aspects to it, which is perfectly fine.

As for the divergence when looking for an entry, it seems as though in the videos, the divergence requirement kept him out of what would have been some losing trades. I guess the divergence setting up before the entry gives price that extra momentum needed to move in the direction of the trade once a trade has been taken, which like I said before, is what I like about this system. So if the divergence is going to give it that extra momentum, then I will include it as a requirement for a proper setup when implementing this strategy. I will keep studying the strategy until I feel comfortable enough to use it in my live trading.

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  #778 (permalink)
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shah1266 View Post
where do i get the cloud indicator...i am not a elite member?


thxs bro found it. For free, also beats the 100 buckers one dude wanted...
Wonder if dude from Chicago works in pits of CME...lots of sharks there me thnk.
No desrespect dude,atleast you responded.

Can't plot past current bar - Ichi Clouds incomplete - NinjaTrader Support Forum

https://futures.io/ninjatrader-programming/7145-ninjatrader-7-ichimoku-kinko-hyo.html

Danka schon to Fattails...a scholar and gentlemen. Those indies he gives freely are worth thousands!


Last edited by shah1266; July 7th, 2011 at 09:34 PM.
 
  #779 (permalink)
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Lmess View Post
It's not in the rules, that's why I posted it as something new I learned .

At the beginning, I was a little obnoxious because I kept questioning Charles about the rules. Eventually, I've come to the conclusion that those rules serve as general guidelines, but there are some exceptions to the rules that have appeared as the thread has grown. I've taken mental notes about some of them, (maybe I should write them down) and have also concluded that this is not a strictly mechanical system. It has some discretionary aspects to it, which is perfectly fine.

As for the divergence when looking for an entry, it seems as though in the videos, the divergence requirement kept him out of what would have been some losing trades. I guess the divergence setting up before the entry gives price that extra momentum needed to move in the direction of the trade once a trade has been taken, which like I said before, is what I like about this system. So if the divergence is going to give it that extra momentum, then I will include it as a requirement for a proper setup when implementing this strategy. I will keep studying the strategy until I feel comfortable enough to use it in my live trading.

It's like the 'W' or 'M' pattern. It is not mentionned but he prefers to consider them when they are above/below the 50 EMA. All in all, i consider the subjective aspects neglegible. By using our collective mind, we should get everything figured it out.

 
  #780 (permalink)
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Lmess View Post
Now I'm up to date with the videos as well. Here are a couple new things I learned:

1. You look for divergences to take place when looking for an entry. If everything sets up properly in the 1508 and 377 tick chart, but there is no divergence in the 377 tick chart, you do not take the trade. If the stochastics indicator is moving the same as price, you don't take the trade.


trendisyourfriend View Post
I got the same interpretation too. That is not mentionned in the PDF. In fact, it contradicts what is in the PDF since for a trade to take place you need a HH or LL in both charts (1508,377). Obviously, if this is what happens then the stochastic will also mimic price. SO is this a trade setup or do we need also some kind of divergence all of the time ? This is not clear to me and i suppose it is not for others too. The more we see what Charles is doing, the more we find rules and exceptions.


Lmess View Post

At the beginning, I was a little obnoxious because I kept questioning Charles about the rules. Eventually, I've come to the conclusion that those rules serve as general guidelines, but there are some exceptions to the rules that have appeared as the thread has grown.

As for the divergence when looking for an entry, it seems as though in the videos, the divergence requirement kept him out of what would have been some losing trades. I guess the divergence setting up before the entry gives price that extra momentum needed to move in the direction of the trade once a trade has been taken, which like I said before, is what I like about this system. So if the divergence is going to give it that extra momentum, then I will include it as a requirement for a proper setup when implementing this strategy. I will keep studying the strategy until I feel comfortable enough to use it in my live trading.

You guys raise some great points. I had similiar ideas too.

As for me, I DO NOT TAKE a trade unless i can find a divergence with a DT/DB. Thing is... they're usually on every trade worth taking in one shape or another! I have become much more flexible in locating those DT/DB formations as well. But finding a divergence along with that seems to provide really nice trading opportunities.

I think we'll see a lot of different opportunities given that this is a discretionary methodology, so eventually I'm sure we'll each hammer out what makes sense individually.

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