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My 6E trading strategy


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My 6E trading strategy

  #1071 (permalink)
 Rudy52 
Des Moines, Iowa
 
Experience: Intermediate
Platform: NinjaTrader
Broker: Kinetick / IB
Trading: spy
Posts: 27 since Feb 2011
Thanks Given: 22
Thanks Received: 16

Charles, You have obviously studied the Ichimoku Kinko Hyo trading method by utilizing the Kumo "cloud" in your trading. Since you do not incorporate the other aspects of the system (Tenkan Sen, Kijun Sen, etc.) into your method, I was hoping you could tell me what you did not like about the full Ichimoku system. Thanks.

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  #1072 (permalink)
gbox1105
park city utah
 
Posts: 11 since Apr 2011
Thanks Given: 18
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thanks for sharing how you trade the 6e, good stuff

  #1073 (permalink)
cjbooth
aurora,il
 
Posts: 319 since Aug 2009
Thanks Given: 134
Thanks Received: 1,405



Rudedog60 View Post
Charles, You have obviously studied the Ichimoku Kinko Hyo trading method by utilizing the Kumo "cloud" in your trading. Since you do not incorporate the other aspects of the system (Tenkan Sen, Kijun Sen, etc.) into your method, I was hoping you could tell me what you did not like about the full Ichimoku system. Thanks.

basically the reason I dont incorparate the full Ichimoku Cloud is that the full version extends the cloud out 26 bars. Ninja trader does not support forward plotting indicators. There are indicators out ther that claim they do indeed plot 26 bars in advance on NInja Trader.

These indicators will not work on my method as the reason they plot 26 bars out is they have a displacement value built into the indicator. This displacement forces the indicator out ahead of price but at the live edge on the currect candle the cloud is not at the proper price level as it is being distorted by the displacement

Charles

  #1074 (permalink)
cjbooth
aurora,il
 
Posts: 319 since Aug 2009
Thanks Given: 134
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Traders,

I have a request to all traders that would like to ask a question or post a comment on this thread.

Since Mid May 2011 when I first came to futures.io (formerly BMT) with this method I spent a lot of time and work to try to present what I have found to be a profitable way to trade the 6E contract. During the thread I have explained my method in much detail, shown chart examples, tweaked a few things a long the way and eplained the change and why, posted videos, answered every question asked, and even started a free trading room so the traders that spent time and did work to learn my method could take their training to a new level by seeing the trades explained on the right edge of the chart instead of seeing them in a hind sight photo posted on the thread.

As the thread has extended much beyond the length that I ever anticipated many post as late have been way off topic of what I am teaching. I am seeing post that send traders to different indicators, I have seen charts using different times frames, I have seen charts that are not the 6E, and I have seen post that is more like a general chat room that have nothing to do with trading

My request to you out of respect for what I have spent the time and work to present is when you post a question or chart for explanation lets keep the post directly centered on my method so new traders just coming in to my thread will learn from the post and not be confused by all the off topic conversation

Thanks,
Charles

  #1075 (permalink)
cjbooth
aurora,il
 
Posts: 319 since Aug 2009
Thanks Given: 134
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traders,

here is a video I created showing 4 trade setups per my method today

Click this link to view

[COLOR=#0066cc]http://www.anymeeting.com/tradingmymethod/E951D785864A[/COLOR]


Good trading,

Charles

  #1076 (permalink)
 elmatador1973 
la mirada
 
Experience: Intermediate
Platform: NijaTrader
Broker: Amp/CQG
Trading: Oil, Es
Posts: 8 since Feb 2011
Thanks Given: 1
Thanks Received: 11

Charles,

I've been trading cl and (some) es for the last 7-8 months. I've been fairly successful with the course I took, and am now trying to learn some other instruments and methods. I really benefited from the course I bought, and though it was expensive, I feel it was worth every penny, plus, it included 6 months traderoom access. Of course, those 6 months are up, and now I'm trying to trade on my own, and finding a plethora of trading jewels here at futures.io (formerly BMT).

I have to say though, what you, my friend, are doing is wonderful, and will even call it, "philanthropic". It's almost an oxymoron, "free traderoom and manual". God bless you for that. I am definitely interested in learning your method with 6E. There are so many people out there just trying to make a $ off any gullible soul, when they probably don't even trade themselves. I have to applaud you for what you are doing. I just spent the last couple of hours reading through this thread! I'm thankful to be part of this forum, and can't wait to develop more as a trader, so I too can share. Looking forward to joining your traderoom, once I study your method some more of course.

Once again, thanks, my friend!

P.S. If the thought counts, I would have also voted for you to win that Ipad 2, lol! You certainly deserved it.

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  #1077 (permalink)
 
bobbyacim's Avatar
 bobbyacim 
new york
 
Experience: Intermediate
Platform: ninjatrader
Broker: mb trading
Trading: 6e
Posts: 184 since Feb 2010

Great trade today, thanks to Mr. Charles Booth

I still have a problem staying in for 21 ticks full profit potential as per Charles's rules.
I added the macbb's to my 1508 chart and ever-so-slightly changed the STDEV to 1.1
just enough on this trade to "discern" something that is helping me stay in the trade longer inspite of the Stochastics on the 377 chart turning up, the Rsqueeze angling back up or even the macdbb's on the 377 moving back in the band and turning blue again.

HERE'S HOW
Once in the trade, I closely watch the BB's on the 1508 chart as they glide with angle and greater separation occuring between the BB's (increased momentum) and as they ride the outside of the band, I am keenly watching until they start getting closer together and finally there is a feather lite touch of the bb to the band. This is indisputable evidence for me to EXIT.

As you can see my bumpy down trade today, all the indicators on the 377 were running me scared to exit early and by the time 9:15 occured, the indicators were YELLING; get out with some profit at 1.4339, as evidenced by drawn arrow under the stochey and and the blue bb on the 377 chart!

However, the macdbb's on the 1508, helped me control the FEAR until the feather lite touch of the bb to the band at 9:21 for an additional 5 -6 ticks.

But overall, I read that as the bands narrow, this may indicate that the momentum is decreasing, so the 377 MacdBB may be enough, I am just looking for any supplemental info that may give an additional edge!

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  #1078 (permalink)
 
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 Big Mike 
Manta, Ecuador
Site Administrator
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Swing Trader
 
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cjbooth View Post
Traders,

I have a request to all traders that would like to ask a question or post a comment on this thread.

I have echoed this request to post #1 so hopefully new members will read it.

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  #1079 (permalink)
 Felix trader 
California - USA/Rio grande do sul-Brasil.
 
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trendisyourfriend View Post
For the record, a perfect trade reversal. I did not trade this setup as too near the news time at 8:30 EST.

Could you please indicate me where I can find the ABC indicator that you use on the white chart?

Whant to thank everyone for the info that we can find on this tread.

Felix

  #1080 (permalink)
 
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 bluemele 
Honolulu, Hawaii
 
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bobbyacim View Post
But overall, I read that as the bands narrow, this may indicate that the momentum is decreasing, so the 377 MacdBB may be enough, I am just looking for any supplemental info that may give an additional edge!

Bobby, glad to see you doing better. To be clear on the MACDBB, the BB lines are strictly volatility based. Lower the volatility the closer the bands come together. Typically when you have consolidation that causes a breakout.

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Last Updated on October 5, 2011


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