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My 6E trading strategy


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My 6E trading strategy

  #891 (permalink)
 
monpere's Avatar
 monpere 
Bala, PA, USA
 
Experience: Intermediate
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forrestang View Post
I don't remember exactly? Looking at the chart now, I would say it was because the LL proceeding my entry technically wasn't a LL based on where it closed.

So basically a mental fubar.

That was a set-up question No matter what answer you give, my response would be, you did not follow your entry rules, or if you said you do not have entry rules, then that would demand the same answer. The lesson is, if you have rules, and you follow the the rules, you should never have to say, I entered late, I exited early, I should have...blah, blah. I have never said any of these phrases in the past 2 years. From what I can tell, I don't think I've ever seen cjbooth say these either anywhere in this thread. The reason is, he has well defined rules, and he follows them.

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  #892 (permalink)
 
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 forrestang 
Chicago IL
 
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monpere View Post
That was a set-up question No matter what your answer you give, my response would be, you did not follow your entry rules, or if you said you do not have entry rules, then that would be require the same answer. The lesson is, if you have rules, and you follow the the rules, you should never have to say, I entered late, I exited early, I should have... I have never said any of these phrases in the past 2 years. From what I can tell, I don't think I've ever seen cjbooth say that either anywhere in this thread. The reason is he has well defined rules, and he follows them.

Ya, I'm sure that's why I closed it so fast, while it was moving in my direction. That was a 'no-trade.'

  #893 (permalink)
 
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 monpere 
Bala, PA, USA
 
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Trading: SPY, Oil, Euro
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forrestang View Post
Ya, I'm sure that's why I closed it so fast, while it was moving in my direction. That was a 'no-trade.'

In that case, Yup! that's the way to handle those "Doh!!!" moments, just kill the trade.

  #894 (permalink)
 bomberone1 
London
 
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someone coded this strategy for multicharts?

  #895 (permalink)
 
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 forrestang 
Chicago IL
 
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bomberone1 View Post
someone coded this strategy for multicharts?

I dont' think there is anything to code as it pertains to a strategy? UNless you just mean are the indicators there for multicharts?

But here are some links to the easy language counterparts:


  #896 (permalink)
 eroc23 
Orlando, USA
 
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forrestang View Post
Did anyone find any good trades on the 6E today?

Today's European session was junk today as well. Guess it's time for a long weekend. Hopefully Monday things will get back to 'normal'

  #897 (permalink)
 
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 monpere 
Bala, PA, USA
 
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eroc23 View Post
Today's European session was junk today as well. Guess it's time for a long weekend. Hopefully Monday things will get back to 'normal'

I don't trade the 6E, but anybody know if this might be a summer time seasonal behavior for this instrument?

  #898 (permalink)
twoshepards
Chicago, Il
 
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I've traded 6e (and dm privously) since it's inception. there's no real seasonal bias but intr-day, the market has good ranges as it ratchets around.

  #899 (permalink)
 
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 forrestang 
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If anyone has other instruments they've been watching, along with what settings for the chart resolution, I'd be interesting in hearing WHAT you use, and WHY you've chosen that setting.

Example, I've been looking at the CL, and the 1508/377 combo appears to provide a similiar frequency of signal as the 6E. Along with that I am looking at stop/target of 13/25 tics. Also, instead of giving it a minimum of 2 tics within a SR level like 6E, I'm willing to give it 4 tics based on the way CL moves. Everything else is the same (not looking for changes in settings indicators, just chart resolution and why).

I didn't mess with the TF, but I did bring it up quickly. The 1508/377 looks fine, but it was a completely different frequency of signal, in that 1508 tics on TF doesn't bring up as many trades due to the volatility of TF compared to CL or 6E.

The reason I mention is because Charles mentioned the other day there is a certain 'look' that provides the best opportunities. I think for me personally, it would be nice to tune my eye to 'that look.' This particular 'look' happens every once and a while, and once one could recognize this 'look' easily, deploying it across a few instruments might make trading a bit easier. There are valid trades without 'the look,' but for me I would like to have the option to look just for that one type of pa.

'The Look' was basically price remaining above/below the cloud in an obvious trend. The cloud will also have some fatness to it. Basically anytime price goes more than a few tics into the cloud, the look dissapears.

In the case of price coiling, or not really being in that obvious trend.... when it starts to move in one direction or another, waiting for 'that look' could make things easier.

Here are two different instruments over the same period. I tried to mark off the areas with 'the look' in green, and the other areas where price isn't in that obvious trend mode in red.

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  #900 (permalink)
 mizzoutrader 
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monpere View Post
I don't trade the 6E, but anybody know if this might be a summer time seasonal behavior for this instrument?

I am just guessing here, but the European banks' stress tests are due to be released today at 12:00 eastern time. Even though there have been some leaks, I am guessing that will be a big news event and may have something to do with the lackluster action the last few days.

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Last Updated on October 5, 2011


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