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My 6E trading strategy
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My 6E trading strategy

  #931 (permalink)
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reasonable

trend, that is what I tested, but how do you define those key positions, such as those fib number? I am using Al brooks H2 on MA rules, but your fib number is interesting.

 
  #932 (permalink)
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supermht View Post
trend, that is what I tested, but how do you define those key positions, such as those fib number? I am using Al brooks H2 on MA rules, but your fib number is interesting.

Fib numbers? No!

13 EMA or the area between the 13EMA and cloud on a pullback after a HH or LL. The same as we have been doing since the beginning. This implies there might be some losses but if the theory is right then a HH or LL + a pullback to the EMA(13) or bottom/top of cloud should provide an edge even if we are right 50% of the time as we have a 2:1 RR. If not then why waiting for a pullback at that location ? You need to take into account that the filtering process we do on the 377t chart increases our risk as well. Nothing is free, what we gain by filtering (more confirmation), we lose by increasing our risk and lowering the probability to reach our target.

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  #933 (permalink)
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trendisyourfriend View Post
Fib numbers? No!

13 EMA or the area between the 13EMA and cloud on a pullback after a HH or LL. The same as we have been doing since the beginning. This implies there might be some losses but if the theory is right then a HH or LL + a pullback to the EMA(13) or bottom/top of cloud should provide an edge even if we are right 50% of the time as we have a 2:1 RR. If not then why waiting for a pullback at that location ? You need to take into account that the filtering process we do on the 377t chart increases our risk as well. Nothing is free, what we gain by filtering (more confirmation), we lose by increasing our risk and lowering the probability to reach our target.

Somebody's thinking rather mechanically.. haha I like the idea, it might increase the number of trades, given that it may allow entries that might ordinarily be filtered out by the 377 rules. As long as the >= 50% win radio at 2:1 reward/risk stats is proven historically.

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  #934 (permalink)
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when does the room open during the day?

 
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forrestang View Post
Did anyone find any good trades they liked today? For me, I only saw 2 that occurred back to back, around 3:16 or so. The first long trade I entered, but got an unGodly fill way up near the top of the bar, I closed that immediately and lost a tic on that one.

Then we moved back down and created a DB right on the 13 again. Unfortunately I was in a sense lulled to sleep by the first trade and didn't get it. This happened to me last week as well.

I did not trade CL today, although it was trending like a beast!

I think a good setup today was at 8:51 cst. I am still learning the trigger lines, but I think that was a classic long setup for them on the 377. The small triggers turned right above the large triggers, with the 55 ema right below. You had a little heat on that first pullback, then it moved pretty nicely to target.

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madLyfe View Post
when does the room open during the day?

Charles has had it going around 3am EDT, but says that will not always be the case. Usually by 6AM Eastern when he has it scheduled .

 
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Without the 377t

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My 6E trading strategy-cjbooth_withoutthe377t.jpg  
 
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trendisyourfriend View Post
Without the 377t

How do you determine the entry price?

 
  #939 (permalink)
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monpere View Post
How do you determine the entry price?

Ideally, the entry should not go below the 55EMA on a retracement during an uptrend, i check on the left side to find a previous balanced zone and place the entry at the middle of this zone. I intend to use MarketDelta using a custom profile to locate a previous POC. This will be more accurate than a moving average or the cloud as i can expect a bounce or a reaction at a high volume node.

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OK, i just tested with MarketDelta how i would proceed. So the main rule does not change for the 1508 or longer term chart, a higher high or a lower low at an area must occur. Except the area will be determined by the developing value area which should reference at least two swings.

I'll use the custom profile to locate high volume nodes for the entry and my stop will be placed below a previous swing Hi/Lo accordingly or below a point named Value Area High/Low (market profile term). As said in the first paragraph, the Value Area will comprise at least two swings and the entry will be at the POC of the last leg or if there are two significant volume nodes, at the middle of them. See first chart for more details.

A second chart is included to indicate what i'll consider as the end of the current trending cycle. An early sign of this is when the POC shift to the upside in an uptrend or to the downside in the case of a downtrend. Quite clear on the second chart.

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My 6E trading strategy-cjbooth_withoutthe377t.jpg   My 6E trading strategy-cjbooth_withoutthe377t2.jpg  
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