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My 6E trading strategy
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Created: by cjbooth Attachments:356

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My 6E trading strategy

  #841 (permalink)
Trading for Profit
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Another trailing stop approach

traders,

As I have stressed over and again in my post and videos how you manage a trade is strictly up to you. I can offer suggestions and ways to do it but it still will always boil down to your risk tolerance and emotions when you have your money on the line

I will offer another suggestion here as an alternative way to trail your stop if it fits your own trading personality. As you know the Keltner Channel that I have used is never a part of the entry rules for a trade, but I have mentioned it as a way I will give the trade some wiggle room until price breaches the 21 MA

As a possible alternative here are some valid trades over the last couple of days looking at the 377 chart but instead of using the Keltner these charts show the 14 period Donchain Channel

This is the short trade yesterday afternoon

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this is short trade on 7/06

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here are 2 long trades on 7/07

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Again just a suggestion, you may want to look at this as you study your charts, when in a trade hold as long as a bar does not close back above/below the center Donchain line in the direction of your trade

Charles

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  #842 (permalink)
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thank


cjbooth View Post
No that is not a trade i would take for these reasons based off the amount of your chart i can see

1. the prior swing on the 1508 is not a HH, your indicator is saying a HH because of the wicks but no candle closed above the prior high
2. The proposed entry point on the 377 has 2 problems
a. you are within 15 ticks of the whole #
b. stochastic is to high at the trigger bar

However - looking forward on the 377 just before the right edge it appears you have a dbl bottom on the 377 with a hidden divergence and the stochastic is in a better place

It's hard for me to tell exactly if a trade would be valid there, possibly in the future you can also inform me what day you are looking at and what time so I can refer to my charts and see a better picture and be able to give a more specific answer in this example


charles

Thank you so much for clarification, normally when you initiate a long trade, the stoch must be below 50?


Last edited by supermht; July 9th, 2011 at 02:37 PM.
 
  #843 (permalink)
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Also how to make the zig zag lines plot the HH and LH ?

Also CJ, I saw this post of yours in the NT forum just a few months ago in reference to you trading the ES (pic. attached.) Where you using Volume Bars before using ticks charts and also trading the ES??? ...

Attached Thumbnails
My 6E trading strategy-cjbooth_volume.jpg  

Last edited by futurestrader1; July 9th, 2011 at 03:40 PM. Reason: getting popcorn
 
  #844 (permalink)
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futurestrader1 View Post
Also how to make the zig zag lines plot the HH and LH ?

Also CJ, I saw this post of yours in the NT forum just a few months ago in reference to you trading the ES (pic. attached.) Where you using Volume Bars before using ticks charts and also trading the ES??? ...

the Zigzag indicator i use "ZigZag UTC" does not plot the "HH" "LL". Some traders have a different version that I see on their charts perhaps one of them can post it for you

The post you see of mine on the NT forum concerning the ES was back when I was not making money to tell you the truth. I have never made money trading the ES although I do know of several traders that are trading my current method using the same chart inetervals 377,1508 and doing very well. I am now strictly a trader of the 6E

Charles

 
  #845 (permalink)
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cjbooth View Post

Again just a suggestion, you may want to look at this as you study your charts, when in a trade hold as long as a bar does not close back above/below the center Donchain line in the direction of your trade

Charles

I'd be interested in hearing about how this works if anyone uses this as a more mechanical way to manage your trades. I'm doing something similar with the supertrend. The Donch is definitely more forgiving than the supertrend.

My guess is that it would probably even out over a larger sample of trades. But if anyone starts tracking this with the Donch, please report back.

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  #846 (permalink)
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cjbooth View Post
GM Traders,

Thank you all who voted for me in Big Mike's contest. I started this thread with the hope that I could help just 1 trader become a better trader.

As of the last check I made on the voting last night to think that what I have presented here in the forum has in some way affected 82 traders is very gratifying to me.

I will continue the thread just like I have been trying to make us all better traders and still reaching out to the traders that have not found this yet.

Thanks Again

Charles

It's a little late but big CONGRATS,,,,

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  #847 (permalink)
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futurestrader1 View Post
Also how to make the zig zag lines plot the HH and LH ?

Also CJ, I saw this post of yours in the NT forum just a few months ago in reference to you trading the ES (pic. attached.) Where you using Volume Bars before using ticks charts and also trading the ES??? ...

Hello @futuretrader 1,

Try this one for plotting HH and LH.

Rick

Attached Files
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forrestang View Post
I'd be interested in hearing about how this works if anyone uses this as a more mechanical way to manage your trades. I'm doing something similar with the supertrend. The Donch is definitely more forgiving than the supertrend.

My guess is that it would probably even out over a larger sample of trades. But if anyone starts tracking this with the Donch, please report back.

Have you tried Chales method with a smaller profit target when 1508 fails just slightly to make a LL/HH or when 1508 makes LL/HH but 377 fails to do that

 
  #849 (permalink)
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masood chughtai View Post
Have you tried Chales method with a smaller profit target when 1508 fails just slightly to make a LL/HH or when 1508 makes LL/HH but 377 fails to do that


I dont mean to intrude here as I see you are asking Forrest this question, if I may give my 2 cents

I would strongly advise you dont do this for 2 reasons that come to mind

1. You are scalp trading when you do this and that usually always will result in over trading and R/R problems
2. When doing this you are committing the cardinal sin of my method, you are looking for a reason to trade or other wise stated you are forcing a trade. bad, bad way to trade


"Be like a TIGER: being perfectly still, waiting for the setup to come to me then pouncing without hesitation or thought."



Charles


Last edited by cjbooth; July 9th, 2011 at 10:39 PM.
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Filter trades using volume


Hi Charles,

Congratulations for your win!

In post #336 you introduced Volume as a filter on 1508 charts and than you stopped using it a few days later. Any reasons?

Thanks, Mich.

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