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My 6E trading strategy
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My 6E trading strategy

  #1 (permalink)
Trading for Profit
aurora,il
 
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My 6E trading strategy

Moderator Note


Added August 18 2011 by Big Mike by request of cjbooth:

*** Message from cjbooth ***

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

***




Hi, This is my 1st post mainly because if I was going to post something I wanted it to be of great value. I have been trading the 6E this way for several months now with a 73% trading accuracy trading from 3 am to 12 noon central time.

I use 2 charts a 1508 tick chart for trend and price action. It contains the indicators IchiCloud, a 13EMA and the ZIGZAG UTC indicator. Price must be making HH/HL or LL/LH and the retracements must pull back to the MA or the Cloud. I do not trade with price in the middle of no where.

I use the 377 tick to enter trades so as to minimize risk at the entry. The indicators consist of the Ichicloud,Trigger lines,ZigZag UTC,Stochastics,Keltner Channel,and Super Trend. the actual rules are bit complex but also very simple.

See chart examples below If you would like more information reply to this post or you can also find me on Skype at "lazytrader53"

I will try to each day to post my trades - direction & time. This methodology is 98% price action trading, it is as close to trading a naked chart as I think you can get. I will sometimes go the entire day without even considering what the Stochastics is doing as I have entered trades with it over 80 and short below 20. All indicators on the 377 tick are there for timing the entry not making a trade decision. If your curious no I am not entering or exiting a trade based strictly on the Super Trend arrows.

Yes the trading is subjective but is also very mechanical when you know what I look for in the setup. The 1508 chart must set up before considering the 377 for an entry. There is no fun intended when I say that I do not use Fibonnacci lines trying to guess which line will hold and the same goes for floor pivots. Again if that works for you great please continue to use it but those lines have never personally made money for me.

5/20 trades, short @ 5:52, short @8:44,long @10:17, long @12:17 all times are central and each trade achieved my goal of 21 ticks on 2 contracts all in/out - that equates to $525 a winning trade. For today a gross gain of $2100 for 9 1/2 hours of work.


My trading manual explaining the rules and the Indicators I use other than the basic Ninja 7 indicators are on page 3 post#29 of this thread

Attached Thumbnails
My 6E trading strategy-6e-06-11-377-tick-5_20_2011.jpg   My 6E trading strategy-6e-06-11-1508-tick-5_20_2011.jpg  

Last edited by Big Mike; August 18th, 2011 at 10:34 PM. Reason: did not think attachments would post
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  #2 (permalink)
Banned: trolling
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this really looks promising

would like to keep this thread open and follow it from time to time to see how it progresses

thanks for sharing your methos

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  #3 (permalink)
Banned: trolling
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thanks for sending me your stats on that 73%

I'm going to share this with the others so they can see what makes up that rate:

As of 6:15 Friday morning there have been a total of 22 trades;

16 winners
5 losers
1 scratch

All 16 winners ran for 21 ticks which = $8400
5 losers totaled $1025
and of course a scratch = 0

If my math is correct this equates to a 73% winning %

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  #4 (permalink)
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cjbooth View Post
Hi, This is my 1st post mainly because if I was going to post something I wanted it to be of great value. I have been trading the 6E this way for several months now with a 73% trading accuracy trading from 3 am to 12 noon central time.

I use 2 charts a 1508 tick chart for trend and price action. It contains the indicators IchiCloud, a 13EMA and the ZIGZAG UTC indicator. Price must be making HH/HL or LL/LH and the retracements must pull back to the MA or the Cloud. I do not trade with price in the middle of no where.

I use the 377 tick to enter trades so as to minimize risk at the entry. The indicators consist of the Ichicloud,Trigger lines,ZigZag UTC,Stochastics,Keltner Channel,and Super Trend. the actual rules are bit complex but also very simple.

See chart examples below If you would like more information reply to this post or you can also find me on Skype at "lazytrader53"

I will try to each day to post my trades - direction & time. This methodology is 98% price action trading, it is as close to trading a naked chart as I think you can get. I will sometimes go the entire day without even considering what the Stochastics is doing as I have entered trades with it over 80 and short below 20. All indicators on the 377 tick are there for timing the entry not making a trade decision. If your curious no I am not entering or exiting a trade based strictly on the Super Trend arrows.

Yes the trading is subjective but is also very mechanical when you know what I look for in the setup. The 1508 chart must set up before considering the 377 for an entry. There is no fun intended when I say that I do not use Fibonnacci lines trying to guess which line will hold and the same goes for floor pivots. Again if that works for you great please continue to use it but those lines have never personally made money for me.

5/20 trades, short @ 5:52, short @8:44,long @10:17, long @12:17 all times are central and each trade achieved my goal of 21 ticks on 2 contracts all in/out - that equates to $525 a winning trade. For today a gross gain of $2100 for 9 1/2 hours of work.

You did not show your trades on the chart.

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  #5 (permalink)
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Can you explain why you eliminated the other components of the Ichimoku? Also, why you're cloud doesn't extend forward 26 periods?

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  #6 (permalink)
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cjbooth View Post
I use 2 charts a 1508 tick chart for trend and price action. It contains the indicators IchiCloud, a 13EMA and the ZIGZAG UTC indicator.

I use the 377 tick to enter trades so as to minimize risk at the entry. The indicators consist of the Ichicloud,Trigger lines,ZigZag UTC,Stochastics,Keltner Channel,and Super Trend. the actual rules are bit complex but also very simple.

This methodology is 98% price action trading, it is as close to trading a naked chart as I think you can get

I have to object to that statement. I commend you for sharing, so please don't take offense, but that is pretty far from trading a "naked chart".
If those indicators works for you, that's all well and good, but don't confuse it with PA trading.

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  #7 (permalink)
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Lornz View Post
I commend you for sharing.
Please don't take offense, but that is pretty far from trading a "naked chart".
If those indicators works for you, that's all well and good, but don't confuse it with PA trading.

Don't you dare denigrate the good name of price action trading with your filthy indicators! You guys just kill me, haha

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  #8 (permalink)
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monpere View Post
Don't you dare denigrate the good name of price action trading with your filthy indicators! You guys just kill me, haha

Haha, I'm a fundamentalist. I actually use "indicators"; They plot values in a spreadsheet.
But a squiggly line on a chart is one too many!

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  #9 (permalink)
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Lornz View Post
Haha, I'm a fundamentalist. I actually use "indicators"; They plot values in a spreadsheet.
But a squiggly line on a chart is one too many!

Hi Lornz,

I enjoy reading your posts, as it seems you have a good insight into trading.
Your trading style is a bit of an enigma to me however, and I am wondering if perhaps you could detail some of how you trade etc?

If you don't want to give anything away I understand however.
Cheers

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  #10 (permalink)
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Twiddle View Post
Hi Lornz,

I enjoy reading your posts, as it seems you have a good insight into trading.
Your trading style is a bit of an enigma to me however, and I am wondering if perhaps you could detail some of how you trade etc?

If you don't want to give anything away I understand however.
Cheers

I don't really want to go into specifics, but I will say that I rely on simple statistical information, Market Profile and a "clean" chart for entries/exit. I have been contemplating writing a more detailed outline of how I approach trading. It seems most on this board are spending too much time trying out various indicators and not enough time trying to understand market mechanics and dynamics. I will try to do it within the next couple of days...

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