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My 6E trading strategy
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My 6E trading strategy

  #911 (permalink)
Trading for Profit
aurora,il
 
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Webinar recording

traders,

this is a recording of the webinar i did on Saturday - if you were unable to attend and would like to watch it click this link, it is about 2 hours in length


http://www.anymeeting.com/tradingmymethod/E950DD82834E



Links below is the 377 chart template and the Keltner universal indicator you need

KeltnerUniversal.zip 377 chart.xml



Have good rest of your weekend, I will talk to you Monday


Charles


Last edited by cjbooth; July 16th, 2011 at 03:56 PM.
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  #912 (permalink)
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forrestang View Post
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.


monpere View Post
Interesting. This is the way I trade. I have been calling that 'look', setup 'pictures'. I trained my eye to see the set of rules of my setup as a picture, that I can recognize instantly. So, then I can watch 3 or 4 uncorrelated markets, and instantly recognize setups in any of them.

As the system in this thread seems to be a trend following system (as every pullback system is), I think it should be equally easy to follow multiple uncorrelated markets. If you would develop a rule to determine if a market is in the proper trending mode (I personally use 20/50/200MA stack), then it that market is not trending properly, then you can just ignore it, and focus on any market which is in that mode.


forrestang View Post
Exactly!!! And I plan to work on it this weekend, but I can script "The Look." So I'll come up with an aid to point out when "The Look" is occurring. Even something we can put into market analyzer and have it pop up on various uncorrelated instruments. Not that it will point out trades or anything, but you can easily define this obvious trend I think.

Then it's just a matter of finding the chart settings that give the 'frequency of signal' that the trader wants.


monpere View Post
This is what I tried to mention a few posts back when someone added a sound alert to the zigzag. I said, how about instead of adding an alert to the zigzag swing high/lows, add an alert to a 1508 zigzag HH followed by a retracement to the MA or cloud. That way you don't have to keep your eyes glued to one chart (or any chart), you are alerted only when you are getting a potential setup.


Still needs some work. But here is the idea. Will have to see how this works on a live market.

Attached Thumbnails
My 6E trading strategy-prime2011-07-17_124456.jpg  
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  #913 (permalink)
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Trading room for 7/19


Hi traders

I did not open a trading room for today but it will be active for Tuesday 7/19

If you wish to attend click this link to register

http://www.anymeeting.com/PIID=E955DD82824C

By clicking the link above you agree and consent that the room is for education and training purposes only. No trading advice or recomendations are intended. All trades you take are based on your decision only and you assume all risk associated with all trades


Charles

 
  #914 (permalink)
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Got some trades off today following the duldrums of last Thurs-Fri.

2 Active markets, 6 trades, 1 loss. Not sure if I like my settings for CL?

---------edit--------
Grabbed one more trade right around 2:00. Had to sit through a pb, but 21 tgt reached. Here is 377 chart, the 1508 was right.

2 Divergences present on the 377.

Attached Thumbnails
My 6E trading strategy-18jul.jpg   My 6E trading strategy-16jullater.png  

Last edited by forrestang; July 18th, 2011 at 04:50 PM.
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  #915 (permalink)
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good job

nice trade, I opened CL chart using Charles's setting, looks great. what is your stop? 20?

 
  #916 (permalink)
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supermht View Post
nice trade, I opened CL chart using Charles's setting, looks great. what is your stop? 20?

hehe..... 13. That's kinda why I said I didn't like those settings. Probably needs a better profit target as well. @trendisyourfriend suggested a while back by using the keltner channel on the 6E to start to come up with some settings on what's best.

I don't think 13 will work out long term. Today I think I had two trades where had I got in immediately on the break, I would have been stopped.

"Winning Trades and Nice Profits"

 
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NT 7 Template

Forrestang......Do you Mind sharing your templates I like the look of your charts.

Thxs, Mike

 
  #918 (permalink)
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Candles

Charles,

Thanks for the Saturday's webinar.

I think the new 377 chart settings will work out better, for the lack of words.

I reviewed it again and came up with one question.

For new 377 chart you need setup bars in the form of doji, hammer, spinning top as a requirement?

And price has to "CLOSE" above (for long) the high or below (for short) the low of the setup bars?

Lastly your definition of doji, hammer and spinning top is in line with conventional or traditional definition?

Thank you.

Kevin

 
  #919 (permalink)
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mnk91998 View Post
Forrestang......Do you Mind sharing your templates I like the look of your charts.

Thxs, Mike

Btw.... There are 2 zigzags on the 1508 study. I believe the UTC is set to transparent.

Attached Files
Register to download File Type: xml CJBooth_1508.xml (46.0 KB, 142 views)
Register to download File Type: xml CJBooth_377.xml (47.9 KB, 129 views)

Last edited by forrestang; July 19th, 2011 at 05:11 AM.
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TW


here is HH on 1508 and good setup, but I got out too early
2011-07-19_0844 - supermht's library


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