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Trading the 6E Old School, With a Twist
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Trading the 6E Old School, With a Twist

  #461 (permalink)
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@eminitrdr, sure hope you get to feeling better/ back in the swing of things

-Bill

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  #462 (permalink)
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Numbers

Coincidence 3543 from Yday? 3485, 83 Tday?

Or 50% retrace from FRI low to Tday high?

D, all of the above

-Bill

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  #463 (permalink)
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Adamus View Post
Do you know where and when to get in at the extremity of your ranges/levels through a combination of favourable price action and averages - rotation, candle size, volatility? And then just leave a limit order in the way? Or is there more involved as well - DOM, volume, etc?

I really like what J. Peter Steidlmayer said in one of his latest webinars, "To be successful, you have to be lucky instead of good." He also goes on to say, "We want dumb luck to be on our side."

I believe simple is better. Most of my trading is based on the notion that price will continue to rotate and go nowhere, until that rotation is interrupted by a news event, either political or economic. This news driven interruption often causes a (the) move to another or "the next level" of go nowhere rotation. Furthermore, since today's market is traded electronically by all participants, unlike the markets referenced in most common trading literature, these moves appear and disappear quickly, very quickly. I don't have to read many threads here on futures.io (formerly BMT) to realize these moves EAT traders!

Pain is a great motivator, in life and in trading. Since most traders are risk averse and struggle with taking a loss, I believe these areas that generate "pain" are ripe with trading opportunities. So to answer your questions, Yes, I believe I know where "to get in" through a combination of "averages-rotations." Price action comes from testing or entering these areas ,,,,,, IMO, if my order is not already resting in this area, the volatility, momentum or lack of time in today's markets (speed of execution) greatly diminishes my ability to capture any significant portion of the move. Is "it" more involved, DOM, Volume? I want "dumb luck" to be on my side, I want volume to prove me wrong. What I mean by that is I don't want to be taken out of the market by price drifting aimlessly away from by entry towards my stop. My intention is to have my "order in the way" and when price enters the area ,,, volume will also enter (increase) and propel price to "the next level" and in turn fill my resting order at a predefined target. I find this method works just as well if I'm buying on a high volume move into the lower area in a range and targeting either the top of, or some level within the already established range or buying or selling an area above or below an established range and targeting either a predefined support or resistance level higher or lower. I hope this answers your questions, if not, you're welcome here anytime, @Adamus

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  #464 (permalink)
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@Xav1029 Sorry to hear about your stop out experience with "Oh Wanda." I saved this from somewhere awhile back, thought you (and others) might find it insightful, I don't remember the author.

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  #465 (permalink)
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Cashish View Post
@Xav1029 Sorry to hear about your stop out experience with "Oh Wanda." I saved this from somewhere awhile back, thought you (and others) might find it insightful, I don't remember the author.

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Thanks @Cashish

I understand stop runs, but to have an order be filled and that "tick" not be reported then or now is just frustrating. If my chart and quote board had actually reported my stop price, I'd chalk it up as a normal stop out. But when neither the chart nor the quote board shows my price ever traded, I just feel like I got robbed. In fact, my stop was filled at a higher price than the HOD yesterday. Guess that's what happens when you venture into "The Dark Side"

Its also frustrating when you have a limit order sitting there, and the "spread" is a few ticks past your order, but you aren't filled. Emailed customer support yesterday and yet to hear back.

London Calling
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  #466 (permalink)
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I feel your pain brother. Forgive me for not asking earlier, but I figured by now Oh Wanda would have "fixed the chart" to show,,,, they were RIGHT! I hope you let us know how it turns out,,,FWIW, I still think it was a great trade, well done.

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  #467 (permalink)
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@WilleeMac Going into today's trading, you didn't miss this "Old High" sitting on '49 did you?

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Cashish View Post
@WilleeMac Going into today's trading, you didn't miss this "Old High" sitting on '49 did you?

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No sir I didn't miss it, but admittedly I have to say I did not look at it that way. I looked at it the same way I did back on WED 11-6 as a whole number rejection at 3550.

Thank you for pointing it out

-Bill

/6E still has a target of 3571 (-23.6, vs 123.6 because of the way we [Halsey] pull fibs) and there's a whole bunch of @Cashish numbers up there as well

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eminitrdr View Post
Is this the rotation Mr. Cashish described in his latest post above? A rotation above a WHOLE NUMBER less than 23 ticks and a gravitational pull back to the whole number. Damn close if you ask me. Could be totally wrong...been away too long
Would expect @Cashish to correct me if I'm wrong.

emini

@eminitrdr , welcome back


I want to clear up one thing about my long winded post regarding these rotations. This is not a trading method, it is simply an observation of price. However, with that being clarified, these rotations (or the theory of them) were the genesis of the 14-16 tick trade back to the whole number. If the theory of a 23 gravitational pull should exist the "pull" from 14-16 ticks should be much (or a little) greater, in theory of course. So, if an acceptable level of RISK can be calculated from further away on a 14-16 tick trade (23-27 ticks) the target could be adjusted to compensate those few ticks, allowing for the target to be placed in a position where the trader is taking profits, "going to, not going thru a whole number." Comprende

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WilleeMac View Post
No sir I didn't miss it, but admittedly I have to say I did not look at it that way. I looked at it the same way I did back on WED 11-6 as a whole number rejection at 3550.

Thank you for pointing it out

-Bill

/6E still has a target of 3571 (-23.6, vs 123.6 because of the way we [Halsey] pull fibs) and there's a whole bunch of @Cashish numbers up there as well

I'm going to be A.W.O.L. for the most part of the next two weeks, but I do think 1.3550 is going to be a tough nut to crack! I will suggest keeping BOTH eyes on the data out of the Eurozone this week and don't forget about the historical "leggy" moves of Black Friday's, they can surprise. Good luck, Comrades

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