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Blz Trading


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Blz Trading

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  #41 (permalink)
 Blz17 
Seattle
 
Experience: Beginner
Platform: NinjaTrader Interactive Brokers
Trading: 6B
 
Posts: 225 since Jun 2009
Thanks: 135 given, 270 received

Thanks for all the good wishes for my wife, she's doing better but still recovering. Fortunately nothing life threatening but just in some pain. Been a bit busy with that and holiday things so haven't had much time to update the journal. Plus, I'm still working on hashing out some rules on my entries. I've finished the Ross Hook book (I'm officially a hooker) and am working on some of the subtle nuances he hits on in that book that I believe make a big difference. I'm also working on incorporating some of cclys volume ideas into my approach as well.

Hopefully I'll have some charts and more detailed updates in the next day or two.

Blz

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  #42 (permalink)
 Blz17 
Seattle
 
Experience: Beginner
Platform: NinjaTrader Interactive Brokers
Trading: 6B
 
Posts: 225 since Jun 2009
Thanks: 135 given, 270 received

So I was turned onto this idea from another trader. In essence it's price action trading but using a 6 Range chart rather then a minute chart. You can see where typical patterns occur (e.g. Ross Hooks, 123's, etc) and focus on support and resistance to note strength or weakness. Perhaps a nice focused way to watch price action and utilize good contract management (e.g. smaller stops yet giving runners a chance to run)

Blz

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  #43 (permalink)
 lolu 
Lagos, Nigeria
 
Experience: Intermediate
Platform: NinjaTrader, SierraChart
Trading: Euro Currency & Oil
 
lolu's Avatar
 
Posts: 2,542 since Jun 2009
Thanks: 1,046 given, 1,672 received



Blz17 View Post
So I was turned onto this idea from another trader. In essence it's price action trading but using a 6 Range chart rather then a minute chart. You can see where typical patterns occur (e.g. Ross Hooks, 123's, etc) and focus on support and resistance to note strength or weakness. Perhaps a nice focused way to watch price action and utilize good contract management (e.g. smaller stops yet giving runners a chance to run)

Blz

Simple & Sweet !!!!!!

What MA do you have on the chart ?

Lolu

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  #44 (permalink)
 Blz17 
Seattle
 
Experience: Beginner
Platform: NinjaTrader Interactive Brokers
Trading: 6B
 
Posts: 225 since Jun 2009
Thanks: 135 given, 270 received


lolu View Post
Simple & Sweet !!!!!!

What MA do you have on the chart ?

Lolu

Glad you like it lolu. The MA is actually propietary so I won't be sharing it however I believe the same idea can be achieved by using a WMA, Triple EMA, TS Supertrend, etc. Whole concept is trading support/resistance and price action but just using range bars to clean up the action a bit.

Hope that helps.

Blz

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  #45 (permalink)
 lolu 
Lagos, Nigeria
 
Experience: Intermediate
Platform: NinjaTrader, SierraChart
Trading: Euro Currency & Oil
 
lolu's Avatar
 
Posts: 2,542 since Jun 2009
Thanks: 1,046 given, 1,672 received


Blz17 View Post
Glad you like it lolu. The MA is actually propietary so I won't be sharing it however I believe the same idea can be achieved by using a WMA, Triple EMA, TS Supertrend, etc. Whole concept is trading support/resistance and price action but just using range bars to clean up the action a bit.

Hope that helps.

Blz

I already have similar setups, one using WMA and the another using TSSuperTrend. I'm also using SbSRenko and pure (regular) Renko. The pure Renko is mostly on NT7Beta.

Thanks.

Lolu

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  #46 (permalink)
 adrian 
Houston, TX
 
Experience: Intermediate
Platform: Ninjatrader
Broker: MBT
Trading: EUR/USD
 
Posts: 88 since Jun 2009
Thanks: 169 given, 71 received

Blz,

This is absolute perfection. I am happy for you because I know the journey it took to get here.

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  #47 (permalink)
 Big Mike 
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Hi Blz17,

Just wanted to pop in and say "thanks!", good job on the posts and journal, and keep it up.

Have you changed anything in your method as a result of this thread?

Have you learned more about your strengths and weaknesses, and applied some sort of plan or effort towards putting them in play as a result of this thread?

I'm asking a lot of journal writers the same questions, looking forward to the answers

Mike

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  #48 (permalink)
 Blz17 
Seattle
 
Experience: Beginner
Platform: NinjaTrader Interactive Brokers
Trading: 6B
 
Posts: 225 since Jun 2009
Thanks: 135 given, 270 received

Thanks for the follow up Mike. I'm certainly learning some things about myself and my approach. I think the two biggest things I need to work on are being mentally prepared to take a loser and jump right back in on the next signal and making sure I give my runners room to run. I believe that for this particular approach the runners are of utmost importance.

I'm still tweaking and working on a few things with my approach though I'm trying to keep with the same general strategy. I was going to ask you Mike how do you get the envelope expansion bands to fit appropriately to 6B. I saw your 6E chart with them and it looked good. Whenever I try applying them to 6E/6B the bands are too far from the price action and they never get touched.

Thanks again for giving me some questions to think about. Lately, I have been incredibly busy and have not been unable to work on my trading hardly at all. I'm hoping to spend some time this weekend on it.

Blz


Big Mike View Post
Hi Blz17,

Just wanted to pop in and say "thanks!", good job on the posts and journal, and keep it up.

Have you changed anything in your method as a result of this thread?

Have you learned more about your strengths and weaknesses, and applied some sort of plan or effort towards putting them in play as a result of this thread?

I'm asking a lot of journal writers the same questions, looking forward to the answers

Mike


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  #49 (permalink)
dsraider
New York, NY
 
 
Posts: 142 since Dec 2009
Thanks: 41 given, 87 received

Blz,

Very nice, well-documented trading journal. I had no idea you were this professional. Wait till I tell the rest of the forum what you're really like

Keep up the good work.

DS

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