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My 6E trading strategy
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My 6E trading strategy

  #861 (permalink)
Elite Member
Milan Italy
 
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monpere View Post
How about alerting when price goes higher then the last swing high, or lower then the last swing low, since that is the only time you are interested in looking at the 1508. I think that is one of the rules right? No reason to be alerted for lower highs or a higher lows, if my understanding is correct.

Yes, I thought of that, but I prefer keeping a closer eye on the action, since there are other ways to trade.

Also, it's a bit more complicated because it would require tracking the swings (the PriceActionSwing indicator does that, but ZigZag doesn't).

 
  #862 (permalink)
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thanks for the free trading room today! It was great to see a losing day today because it shows your method is not fool proof due to a loss of $400 in Sim mode as shown on your chart trader.

Having a room to show your live trading will be great as serve as a FORWARD test of your system to see if, in fact, it is a viable long-term solution--considering you've only been trading it for a few short months.

 
  #863 (permalink)
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trading Tuesday 7/12


traders,

If you missed the one today I have started a free trading room through AnyMeeting where you can follow how I trade the right edge

If you would like to attend on Tuesday click this link below to register -

I will be in the room from 5:00 am to 1 pm cst to answer your questions

http://www.anymeeting.com/PIID=E954D987874E


charles

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  #864 (permalink)
Urban Samurai
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Reversal Research

I've had some thoughts on the REVERSAL TRADES over the past as it seems like some I take, and some I don't. It seems like my right brain is trying to draw a correlation between the ones that tend to work out and the ones that fail.

My observation is basically that the swing points that make up the reversal on the 1508, must both "fit" to something. For example, say you had a downtrend, and you observe a reversal setting up on the 1508 below a red cloud. Price then pierces the inside of the cloud. What you would want is to see the swing high stop at some point of resistance, either the 50EMA, the top of the cloud, or possibly a round number.

Next that swing low that prints, you either want it to stop at either the 13ma, the bottom of the cloud, or a round number. If it 'fits' into that Support or Resistance, and you get an entry for the long, it seems like it might be a way to distinguish a good reversal from a bad one.

Hopefully the pics explain what I am getting at. Has anyone else had any similar observations? Just bouncing some ideas around. There also is the possibility of looking at the wicks or bodies of candles for a fit, simliar to DT/DB formations, but just for now this is the idea.

Attached Thumbnails
My 6E trading strategy-prime2011-07-11_123702.jpg   My 6E trading strategy-prime2011-07-11_123724.jpg   My 6E trading strategy-prime2011-07-11_123805.jpg   My 6E trading strategy-prime2011-07-11_123827.jpg   My 6E trading strategy-prime2011-07-11_123912.jpg   My 6E trading strategy-prime2011-07-11_123934.jpg  
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  #865 (permalink)
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futurestrader1 View Post
thanks for the free trading room today!

Charles,

Do we have recording of this trading room of today's?

 
  #866 (permalink)
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forrestang View Post
I've had some thoughts on the REVERSAL TRADES over the past as it seems like some I take, and some I don't. It seems like my right brain is trying to draw a correlation between the ones that tend to work out and the ones that fail.

My observation is basically that the swing points that make up the reversal on the 1508, must both "fit" to something. For example, say you had a downtrend, and you observe a reversal setting up on the 1508 below a red cloud. Price then pierces the inside of the cloud. What you would want is to see the swing high stop at some point of resistance, either the 50EMA, the top of the cloud, or possibly a round number.

Next that swing low that prints, you either want it to stop at either the 13ma, the bottom of the cloud, or a round number. If it 'fits' into that Support or Resistance, and you get an entry for the long, it seems like it might be a way to distinguish a good reversal from a bad one.

Hopefully the pics explain what I am getting at. Has anyone else had any similar observations? Just bouncing some ideas around. There also is the possibility of looking at the wicks or bodies of candles for a fit, simliar to DT/DB formations, but just for now this is the idea.


Basically, if price makes a HH within the cloud on the 1508 ticks chart while price is in a downtrend and price retraces to a rising EMA(13) which should coincide with the bottom of the cloud or near this bottom and the risk/reward to the EMA(50) has some merits (at least a 1:1 RR) then maybe the trade is worth taking even more so if the top of the cloud has enough room to allow a 2:1 RR. I also try to trade the Euro when price travels between two round numbers that end with 00 or 50 like 1,4000 to 1,4050 or 1,4050 to 1,4100. Such a scenario occured Friday just before noon EST. You need to evaluate if the risk is worth it given the potential targets (see chart).

Attached Thumbnails
My 6E trading strategy-trade_reversal_conisderations.jpg   My 6E trading strategy-trade_reversal_conisderations2.jpg  
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  #867 (permalink)
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forrestang View Post
I'm not sure what type of account you have to have to do it, but you would either have to make your vids considerably shorter, or split them up. Seems the standard upload requires your vid be less than 15minutes, despite the size of the upload. I've seen much longer vids, but not sure if that's available for standard youtube accounts.

The first two or three have to be 15 minutes, but then they let you go much longer.

@cjbooth, if you have trouble splitting them just zip and attach here, I can split them for you.

Mike

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  #868 (permalink)
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trading room

Anyone, did I hear Charles today say that he would be trading from his live dome starting on Tues, 7/12?

Just curious if I heard it correctly.

Thanks,
emini

 
  #869 (permalink)
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trendisyourfriend View Post
Basically, if price makes a HH within the cloud on the 1508 ticks chart while price is in a downtrend and price retraces to a rising EMA(13) which should coincide with the bottom of the cloud or near this bottom and the risk/reward to the EMA(50) has some merits (at least a 1:1 RR) then maybe the trade is worth taking even more so if the top of the cloud has enough room to allow a 2:1 RR. I also try to trade the Euro when price travels between two round numbers that end with 00 or 50 like 1,4000 to 1,4050 or 1,4050 to 1,4100. Such a scenario occured Friday just before noon EST. You need to evaluate if the risk is worth it given the potential targets (see chart).

That is an interesting way to look at it. I hadn't really thought about how much room a trade may have up top.

So do you think the best way to sort the best from the worst in terms of reversal trades is the RR?

Do you see any type of pa that might be more conducive to the trade being successful?

 
  #870 (permalink)
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NT Code Conversion Help


I would like to try to attempt to code some of the NT code in TradeStation EasyLanguage. Can some trader that uses Ninja Trader help me out by posting the NT code for the IchiCloud in a text file, including any "function calls"? I would also need the parameter input settings too. Thanks for any help that can be provided.
Daawg


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