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The Beauty and Logic of the 6E


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The Beauty and Logic of the 6E

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  #111 (permalink)
Salt Lake City, UT
 
Experience: Intermediate
Platform: NinjaTrader
Broker: NinjaTrader Brokerage
Trading: ES, 6E
 
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Posts: 281 since Aug 2010
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Zachary Standley View Post
Can you explain why you believe this? What made you come to that conclusion?

This is from a BookMap chart from last Friday's trading. Look at the Buying Volume that crossed the spread and Price did not respond. 20 seconds later price rises on much less buying.
The traditional explanation is that Seller's "absorbed" the Buying pressure. This explanation is, at best, a guess. It allows one to continue to believe that 'somehow' Buyer's and Seller's control Price.

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  #112 (permalink)
Salt Lake City, UT
 
Experience: Intermediate
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I was talking with one of my trading mentors a few months ago. I haven't talked with her for a few years. Her name is Pam Ludwig. She was the moderator for the Futures room at Trade Angle Strategies (TAS). When she left TAS she opened her own room called Traders News Network (TNN). She closed her room a few years later. Pam was the best trader I have ever seen. Finding someone who is truly successful trading is rare.
I contacted her to ask her a question. During the course of our conversation she showed me her trading strategy. She didn't go in to her Rules, Risk/Reward, Target/Stops nor Trade Management. It was just a very brief display of her trading strategy. I was appalled at it's simplicity and the simplicity of the logic behind it. During my conversation with her, she commented on how I was making trading more difficult than it needed to be.
This is her strategy and the Logic behind it.
She goes Long when the Market trades above A and C and goes Short when it trades below 1. The logic is: the Sellers from A to B and C to D are no longer present or interested and the Buyers from 1 to 2 are no longer present or interested.
That's it! A very simple strategy using very simple logic.
Keep it Simple!

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  #113 (permalink)
salt lake city utah
 
 
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Aragorn,
Thx for you post of Pam Ludwig trading, Have you used her Ludwig Levels service? By the way, i am also in SLC

Best ----Mark

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  #114 (permalink)
Salt Lake City, UT
 
Experience: Intermediate
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Trading: ES, 6E
 
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skifaster View Post
Aragorn,
Thx for you post of Pam Ludwig trading, Have you used her Ludwig Levels service? By the way, i am also in SLC

Best ----Mark

Hi skifaster. Welcome to the best trading forum on the internet.
I have used her levels in the past. I currently do not. If you are interested in looking at them further, I strongly recommend you contact her for the trial and see if they fit with your trading needs. She sends out info with them but she is always willing to answer questions and go into more detail if necessary. Pam is the best!

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  #115 (permalink)
Europe
 
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Trading: ES, CL, 6E, 6B
 
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looks like the good old Joe Ross trading

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  #116 (permalink)
Salt Lake City, UT
 
Experience: Intermediate
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Posts: 281 since Aug 2010
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Over the past several months, I have, both here in my Journal and on other threads, posted some pretty negative comments and reviews about OneUp Trader. I believe those comments were warranted and justified. In the end, however, I decided to go with OneUp over TopStep. Time will tell if that was a good decision or not.

I reached the review section of the evaluation process today and am now waiting to be funded. I began with the $100k account but had to downgrade to the $50k. Perhaps I will go back to the $100k. But also, perhaps I will go with TopStep next time. Again, time will tell.

I went with OneUp for several reasons:
First, I like the idea of NOT having to pay for data feeds. TopStep you pay for your own data.
Second, when I began, I needed two connections, one to NT and one to BookMap. I was told, somewhere, that I could only have one connection with TopStep. I have since found out that the information about only one connection was inaccurate.
Third, OneUp was a little cheaper per month.
Fourth, the initial 100% payout of $8k over $5k was more appealing.
Fifth, the draw downs were a little higher in OneUp. It added a little more wiggle room in case of some consecutively bad trades.

Those were my reasons for going with OneUp. I am still not happy about how they do their funding with the threshold component nor the scaling component but, for now, I'll bite the bullet and live with it. That's the program. That's how they have chosen to do it. I had and have other options. For now, I will live with it.

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  #117 (permalink)
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Experience: Intermediate
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And for the record, I think it is awesome that Big Mike has recognized the incredible contributions of @bobwest. A few weeks ago when Bob wrote an explanation to a question I had, I noticed how much he has contributed to this forum. And yet he didn't have a "Legendary" or "Wizard" designation. Thank you Bob for all of your contributions. "Super Moderator" indeed! I am glad you got the recognition that you deserve.

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  #118 (permalink)
Site Moderator
Sarasota FL
 
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Aragorn View Post
And for the record, I think it is awesome that Big Mike has recognized the incredible contributions of @bobwest. A few weeks ago when Bob wrote an explanation to a question I had, I noticed how much he has contributed to this forum. And yet he didn't have a "Legendary" or "Wizard" designation. Thank you Bob for all of your contributions. "Super Moderator" indeed! I am glad you got the recognition that you deserve.

Thanks. I do appreciate it.

I don't know if I'm all that much a "super" moderator, more like just a "moderator in training," actually. But I'm learning.

Before I got moderatorized, I was a "legendary" "wizard," which simply reflects how much you type (), and how many Thanks you get, and a few other measures of participation. There's a formula that assigns these labels. For an explanation you can look at the top of the main page and click: UserCP > Your Profile > Statistics and then the topic "Forum Reputation." Basically, it reflects high participation and the judgment of the membership on that participation. I do appreciate the recognition it involves, and I appreciate the other people who received it, and the members who granted it.

Moderators (and admins) are the guys who watch for things that violate rules, and try to keep the forum organized by having threads put in the right places, and otherwise try to keep things running smoothly. You can tell them by the purple background to their names.

The moderation team has five members:

@Big Mike - Admin
@sam028 - Admin
@tturner86 - Super Moderator. Terry also does all the webinars, and has for years.
@xplorer - Super Moderator
@bobwest - Super Moderator (New Guy)

I have known each of the others for many years, and have been (and am) in awe of their work and dedication.

Like I said, I'm learning.

Bob.

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  #119 (permalink)
Salt Lake City, UT
 
Experience: Intermediate
Platform: NinjaTrader
Broker: NinjaTrader Brokerage
Trading: ES, 6E
 
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Posts: 281 since Aug 2010
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Aragorn View Post
Your answer does not lie in indicators.

You need to simplify everything. Stop looking at multiple markets. Become an expert at trading one market. Become Consistently Profitable Trading one market.

Then, if you want, start looking at a second. But only look and study. Do NOT trade it yet. Look and study it for several months until you can get a grasp on it's personality and it's nuances.

Order Flow seems to be most trader's preference. It is for me. What Volume is coming in to the market. Is it effecting price? Who is in control of price?

I trade the ES with a 500 Volume chart. (If you are, STOP changing charts, time frames and indicators). I trade a Volume chart because, to me, in my mind, I want to compare apples to apples. So if I want to look at Volume and order flow then a Volume chart makes sense.

I still trade with NT7. Sorry, I am used to trading it and I'm not ready to graduate to NT8. I trade with what I am used to and what I am comfortable with. All that said, I return to my hero gomi. Maybe his work can be duplicated on NT8. I don't need to research that. Perhaps one day I will have to.

Here's my 500 Volume chart.

The first panel has gomi's Bid/Ask Ratio. It breaks down Buyers and Sellers per bar. It tells me who is in control.

The second panel has gomi's COT. It breaks down how many Buyers and Sellers from the High and Low of each bar. It tells me how hard Buyers or Sellers are working to move price for directional continuation.

I like these because they are not "setting" dependent. They simply show the number of Buyers and Sellers per bar.

The lines on the main panel are from MyDynamicPivots and draws Fibs from the HOD and LOD. I like lines on my charts because it gives me a frame of reference to reference price action.

Hope it helped. Keep it Simple.

I posted this on another thread but think it belongs here as well.

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