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My 6E trading strategy


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My 6E trading strategy

  #1161 (permalink)
 
bobbyacim's Avatar
 bobbyacim 
new york
 
Experience: Intermediate
Platform: ninjatrader
Broker: mb trading
Trading: 6e
Posts: 184 since Feb 2010


Mindset View Post
CJ - Two things. One ever so slightly off topic but more a homage to a great thread.

1. I have scanned through this very long and wonderful thread but wonder if you could produce a template for your charts and then post the appropriate xml file. It helps when all the indicators, data series, etc are all as they should be. You well deserve your IPad by the way.

2. In England CJ has a deep cultural/clique significance for anyone who has watched Leonard Rossiter.... you can google it!

Careful getting off topic, or you might be banned from his trading room, like me; cause its by invite only.....LOL
Its all good, learned more from Charles than I ever dreamed of; Still, a Great man, awesome trader!!!


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  #1162 (permalink)
yeohass
LOS ANGELES
 
Posts: 4 since Jul 2011
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Hi Charles,

This is my first post ever - and I'd like to say thanks foremost for the information you have provided here. For a new trader such as myself, this is like gold dust!

I have a few questions I'd like to ask. Just to note, I have read the entire thread - it took me 2 weeks to take it all in properly. This was at the beginning of August and I am still just looking at historical data trying to master the system.

1. When looking for stochastic divergences, hidden or standard, do you compare neighbouring peaks/troughs only, or can you compare the first and third peak for example?

2. Still on stoch divergences, I am a little confused on when I'm looking for W's and when I should be looking for M's. Should I be looking for both at all times or is it W's in down trends, M's in uptrends? Or something else?

3. (This question is unfortunately very much related to my newness...) With rollover last week, should I be looking at 12-11 data now, or is the momentum still with 09-11?

Thanks again
K

  #1163 (permalink)
cjbooth
aurora,il
 
Posts: 319 since Aug 2009
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yeohass View Post
Hi Charles,

This is my first post ever - and I'd like to say thanks foremost for the information you have provided here. For a new trader such as myself, this is like gold dust!

I have a few questions I'd like to ask. Just to note, I have read the entire thread - it took me 2 weeks to take it all in properly. This was at the beginning of August and I am still just looking at historical data trying to master the system.

1. When looking for stochastic divergences, hidden or standard, do you compare neighbouring peaks/troughs only, or can you compare the first and third peak for example?

2. Still on stoch divergences, I am a little confused on when I'm looking for W's and when I should be looking for M's. Should I be looking for both at all times or is it W's in down trends, M's in uptrends? Or something else?

3. (This question is unfortunately very much related to my newness...) With rollover last week, should I be looking at 12-11 data now, or is the momentum still with 09-11?
Thanks again
K

Hi,

1. You are comparing where the Stochastic was on the previous hook in the Zig Zag indicator to where it is currently. If you are in a downtrend and price is making a lower high but the stochastic is higher than it was at the previous zigzag hook then you have a hidden divergence
2. Per the basic rules we only trade "W's" in an uptrend and "M's" in a downtrend. the basic method does not take counter trend trades
3. I am curious what is going on also, I am still trading the 9-11 contract but also watching the volume on the 12-11. I will not personally switch contracts until the volume switches

Good trading

Charles

  #1164 (permalink)
yeohass
LOS ANGELES
 
Posts: 4 since Jul 2011
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Super, thank you for the clarifications. No wonder I was getting myself into a muddle!


  #1165 (permalink)
pinetree
portland me usa
 
Posts: 17 since Jun 2011
Thanks Given: 54
Thanks Received: 18

Hi

What's going on with the Ichimoku being used in this thread? The cloud is not printing out to the right as usual.

I'm using ThinkOrSwim so I can't just download the indi provided here, and am not sure if I can duplicate what you're using here in TOS. Anyone with an idea what I need to do to the TOS indi in order to modify it to display like yours? Seems like I may need to displace it back 26 bars?

Since I'm limited in which tick timeframes I can use, I'll try 1600tick and 400tick.

Here's a pick of what the Ichimoku looks like on a 1600 tick chart of 6E.

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  #1166 (permalink)
 wireford 
Chicago, Illinois
 
Experience: Intermediate
Platform: NinjaTrader
Broker: AMP/ZENFIRE
Trading: 6E
Posts: 134 since Mar 2011
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Charles Booth does not use the version that prints out to the right. His preference.

No idea how to make it worth with TOS. Sorry. Most guys using NINJA Trader.

  #1167 (permalink)
 
madLyfe's Avatar
 madLyfe 
Des Moines, Iowa
 
Experience: None
Platform: Ninja, TOS
Broker: AMP/CQG, TOS
Trading: CL, TF, GC
Posts: 1,641 since Feb 2011
Thanks Given: 9,220
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pinetree View Post
Hi

What's going on with the Ichimoku being used in this thread? The cloud is not printing out to the right as usual.

I'm using ThinkOrSwim so I can't just download the indi provided here, and am not sure if I can duplicate what you're using here in TOS. Anyone with an idea what I need to do to the TOS indi in order to modify it to display like yours? Seems like I may need to displace it back 26 bars?

Since I'm limited in which tick timeframes I can use, I'll try 1600tick and 400tick.

Here's a pick of what the Ichimoku looks like on a 1600 tick chart of 6E.

you can run demo accounts from the brokers and use NT on the side while trading from TOS.. thats always an option...

dont believe anything you hear and only half of what you see

¯\_(ツ)_/¯

(╯°□°)╯︵ ┻━┻
Visit my NexusFi Trade Journal
  #1168 (permalink)
pinetree
portland me usa
 
Posts: 17 since Jun 2011
Thanks Given: 54
Thanks Received: 18

I think I figured it out. I think the cloud in Charles' indicator is just the current spread between the Tenkan and Kijun. That is what the usual ichinoku cloud is, only it's displaced forward by a predefined number of bars. So I should be able to code up a TOS equivalent just using the T-K spread and not displacing it.

  #1169 (permalink)
 
trendisyourfriend's Avatar
 trendisyourfriend 
Quebec Canada
Market Wizard
 
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I am curious to know, how many did buy the Kwik pop package to stay abreast of Charle's method and what's your impression so far ? In what area of your trading did this package help you ? confidence, more accurate enties/stops or targets etc.

  #1170 (permalink)
 
drytlewski322's Avatar
 drytlewski322 
Fort Lauderdale Florida
 
Experience: Intermediate
Platform: Ninja Trader
Trading: CL, 6E
Posts: 39 since Mar 2011
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Hi trend,

Well I did purchase it. I first did the Lines only which were helpful. Then after some thought and trials I did the full KP/JSS combo. At first I was not that impressed with kwip Pop, I had indicators that did pretty much the same, but the more I learn and watch, it really has a much better theory and performs well. So I have to say, I was wrong with my first hunch of the KP system, but glad I did move forward.

My theory on the costs to justify it, If It keeps me out of 1 less loosing trade per month, then I have broken even, worked less and made more profit. So far it has surpassed that.

My entries as much more accurate, that is for sure. While others may not take a trade, or hesitate I am usually in and Positive in the trade. While it still does not give me a better exit, I will say it is more my level and style of trading. I do run a large amount of contracts on each trade, so I do not need to get every tick.

Targets are based on the lines, so if I need to do a extra trade, I will wait for a new setup, and valid entry point to go again.

I will take the best trades of the crop, and get out of it at the first sign of weakness. I would rather take a decent profit, than hold and sweat it out, though most of the time it is right, the system is telling you to stay or get out, I need to learn more trust in it, then I will hold longer as I develop that trust in it.

I typically only need 10 ticks a day, to hit my goal. So if I see anything that gives me a concern, I will get out. If I have to wait for one more trade, then I will to get my target.


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Last Updated on October 5, 2011


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