NexusFi: Find Your Edge


Home Menu

 





The Electronic Local method


Discussion in Trading Reviews and Vendors

Updated
      Top Posters
    1. looks_one cory with 15 posts (8 thanks)
    2. looks_two Braulio with 14 posts (2 thanks)
    3. looks_3 Jeff Castille with 11 posts (10 thanks)
    4. looks_4 eDanny with 7 posts (6 thanks)
      Best Posters
    1. looks_one fiki with 4.5 thanks per post
    2. looks_two Jeff Castille with 0.9 thanks per post
    3. looks_3 eDanny with 0.9 thanks per post
    4. looks_4 cory with 0.5 thanks per post
    1. trending_up 58,643 views
    2. thumb_up 62 thanks given
    3. group 32 followers
    1. forum 105 posts
    2. attach_file 19 attachments




 
Search this Thread

The Electronic Local method

  #1 (permalink)
 
cunparis's Avatar
 cunparis 
Paris, France
 
Experience: Advanced
Platform: Market Delta & Ninjatrader
Trading: ES
Posts: 2,565 since Jun 2009
Thanks Given: 1,162
Thanks Received: 2,093

Update Jan 4 2011: I and several others have spent time researching this guy and we've concluded that there is nothing of substance there. We can't find anything useful at all and certainly nothing to pay thousands of dollars for. I write this so that others may avoid wasting their time trying to figure out what this guy is doing. Proceed at your own risk and keep your wallet close to you at all times.

I'm only briefly familiar with this guy but from what I've read he's very highly regarded. The basic idea is he is an older pit trader and is now trading on his own. He started his blog when his 25 year old daughter asked him to teach her how to trade.

You can visit his blog here:

https://electroniclocal.blogspot.com/

And this past weekend he did a webinar which you may download here in 2 parts (get both):

ElectronicLocal Pt 1
ElectronicLocal Pt 2

I just found him last week so if you're familiar with him & his method please feel free to lead the discussion.




Follow me on Twitter Started this thread Reply With Quote
Thanked by:

Can you help answer these questions
from other members on NexusFi?
NT7 Indicator Script Troubleshooting - Camarilla Pivots
NinjaTrader
My NT8 Volume Profile Split by Asian/Euro/Open
NinjaTrader
ZombieSqueeze
Platforms and Indicators
Exit Strategy
NinjaTrader
Better Renko Gaps
The Elite Circle
 
Best Threads (Most Thanked)
in the last 7 days on NexusFi
Get funded firms 2023/2024 - Any recommendations or word …
61 thanks
Funded Trader platforms
39 thanks
NexusFi site changelog and issues/problem reporting
26 thanks
Battlestations: Show us your trading desks!
26 thanks
The Program
18 thanks
  #2 (permalink)
 timefreedom 
Indianapolis, IN USA
 
Experience: Advanced
Platform: Ninjatrader TOS Custom
Broker: Several
Trading: ES CL ZB
Posts: 374 since Dec 2009
Thanks Given: 226
Thanks Received: 381

There are some interesting posts on his blog... one where he extols the virtues of watching 1 chart, 1 timeframe and not getting confused by using multiple time frames for example. But I attended the webinar and, like most webinars, it was mostly a waste of time. Unless something magical happened during the last few minutes of the session, most of what was discussed was very basic, very generic and not particularly beneficial to anyone who has been trading for awhile. For example, he doesn't provide any of (apparently) 18 different setups that he has for entering the market. Rather, he suggests that each trader find his / her own setups. I'm not saying that is bad advice - but I doubt if he told his daughter to find her own setups. Another gem is to be sure you have enough money in your account before you start trading or else you'll probably lose it. Again, I'm not saying that is bad or wrong advice, just that if you don't know that, you're probably not ready to trade anyway. His take on exits is pretty vague too. He likes to scale out in increments of 3 but where to scale is not disclosed. From studying the trades on the blog, you'll see that sometimes trades are exited at his outer Keltner, sometimes at Market Profile areas of significance (value area highs / lows and poc's for example), and sometimes the exits seem to be primarily discretionary. I love the premise of the blog - follow along while a legitimate and successful trader teaches his daughter how to trade. But from reading the blog and attending the webinar, I didn't pick up too much that seems trade-worthy.

Reply With Quote
  #3 (permalink)
 
cunparis's Avatar
 cunparis 
Paris, France
 
Experience: Advanced
Platform: Market Delta & Ninjatrader
Trading: ES
Posts: 2,565 since Jun 2009
Thanks Given: 1,162
Thanks Received: 2,093



timefreedom View Post
I love the premise of the blog - follow along while a legitimate and successful trader teaches his daughter how to trade. But from reading the blog and attending the webinar, I didn't pick up too much that seems trade-worthy.

Now I'm concerned. I looked at his blog briefly and I kind of had the same impression but I thought it was just due to me not having read the entire blog.

So are you saying that he doesn't give some setups in his blog? If not then I think I will skip it.

I understand about exits being discretionary, but he could at least give some guidelines. I usually decide in advance when I'm going to exit, it can be different for each trade, but I try to think of what would cause me to exit and what would not cause me to exit. It'd be good if he listed criteria like that, like when to exit on a keltner band and when to exit on the MP thingie.

Thanks for sharing your impressions.

Follow me on Twitter Started this thread Reply With Quote
  #4 (permalink)
 zikonc 
san ramon
 
Experience: Beginner
Platform: ninja
Broker: zen
Trading: es, 6e
Posts: 136 since Oct 2009
Thanks Given: 98
Thanks Received: 76

throughout his blog he is emphasizing a lot the use of market context.....he says that understanding the market context allows him to pick and choose what trades he takes, which makes sense.......in my opinion, he should spend more time explaining how is he evaluating market's "big picture" because one could perhaps get clues from his screen captures what are entry and exit triggers...but in general I find his blog informing.....on the other hand i am not sold at the moment on market delta since NT can reproduce the same information and add more if needed.....I did not feel guilty spending 2 evenings going though all his posts

Reply With Quote
  #5 (permalink)
 
Jeff Castille's Avatar
 Jeff Castille 
Northern California
 
Experience: Intermediate
Platform: Ninja Trader
Broker: Amp Futures/ Zen-Fire
Trading: YM and CL
Posts: 2,109 since Jun 2009
Thanks Given: 1,783
Thanks Received: 3,303

I listened to the webinar and thought it laid a very nice foundation for his daughter or any beginning trader. I particuliarly like the fact that he told all of the beginners that 90% of people who attempt trading fail. Hopefully drawing attention to this fact will give aspiring traders pause........

So, did anyone notice his momentum dots ?????? Are there any bright programmer types that are intrigued enough to want to take a shot at them??? I can't find anything like them on the Ninja forum or on futures.io (formerly BMT).

Several other points of interest.......he likes range bars....the 33 ema.....the 99 ema and of all things the CCI. My interest in the CCI indicator was recently rekindled by Ben Harrell on his CL thread. It's interesting that he uses a 45 and 6 setting on the CCI and makes a point of saying that he doesn't know anyone who uses the CCI like "Woodie" and makes any money. So, his use of the CCI is unique. Of course volume played a very big role with the cumulative delta and market profile.

There is no way this guy is going to teach thirty years of trading experience in one webinar.....or even two or three. I'm sure that this process is just starting and will yield a tremendous amount of information over time. All in all......a nice start.

Follow me on Twitter Reply With Quote
  #6 (permalink)
insideday
vienna
 
Posts: 22 since Aug 2009
Thanks Given: 0
Thanks Received: 38


Jeff Castille View Post

So, did anyone notice his momentum dots ??????

He says it is the Drummonds PLDot.
So it is a 3 bars SMA of (h+l+c)/3 forwarded one bar.

Reply With Quote
  #7 (permalink)
insideday
vienna
 
Posts: 22 since Aug 2009
Thanks Given: 0
Thanks Received: 38

For TS it it
 
Code
variables:
 PLDot( 0 ),
 HLC_Avg( 0 ) ;

HLC_Avg = ( High + Low + Close ) / 3 ;
PLDot = Average( HLC_Avg, 3 )  ;

Plot1[-1](PLDot,"PLDot") ;

Reply With Quote
  #8 (permalink)
 
eDanny's Avatar
 eDanny 
East Rochester, NY
 
Experience: Intermediate
Platform: NT
Posts: 329 since Jul 2009
Thanks Given: 18
Thanks Received: 425

Here is my quick take on this indicator. It repaints only if plots are changed to lines. Enjoy.

Attached Thumbnails
Click image for larger version

Name:	DPLDot.png
Views:	892
Size:	50.9 KB
ID:	6936  
Attached Files
Elite Membership required to download: DPLDot.zip
Reply With Quote
  #9 (permalink)
 
cory's Avatar
 cory 
virginia
 
Experience: Intermediate
Platform: ninja
Trading: NQ
Posts: 6,098 since Jun 2009
Thanks Given: 877
Thanks Received: 8,090


Jeff Castille View Post
I... My interest in the CCI indicator was recently rekindled by Ben Harrell on his CL thread. It's interesting that he uses a 45 and 6 setting on the CCI and makes a point of saying that he doesn't know anyone who uses the CCI like "Woodie" and makes any money. So, his use of the CCI is unique. Of course volume played a very big role with the cumulative delta and market profile.

There is no way this guy is going to teach thirty years of trading experience in one webinar.....or even two or three. I'm sure that this process is just starting and will yield a tremendous amount of information over time. All in all......a nice start.

45 is almost 50 of DrBob I suspect we can merge several CCI methods into one.

Reply With Quote
  #10 (permalink)
 
Jeff Castille's Avatar
 Jeff Castille 
Northern California
 
Experience: Intermediate
Platform: Ninja Trader
Broker: Amp Futures/ Zen-Fire
Trading: YM and CL
Posts: 2,109 since Jun 2009
Thanks Given: 1,783
Thanks Received: 3,303



cory View Post
45 is almost 50 of DrBob I suspect we can merge several CCI methods into one.



I do believe that you are correct........here's my take on the basic "Electronic Local" set up. The CCI is tweaked as a histogram and paintbar study. I just paid a programmer $ to create this for me so I will not be giving it away.

Follow me on Twitter Reply With Quote
Thanked by:




Last Updated on August 18, 2011


© 2024 NexusFi™, s.a., All Rights Reserved.
Av Ricardo J. Alfaro, Century Tower, Panama City, Panama, Ph: +507 833-9432 (Panama and Intl), +1 888-312-3001 (USA and Canada)
All information is for educational use only and is not investment advice. There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
About Us - Contact Us - Site Rules, Acceptable Use, and Terms and Conditions - Privacy Policy - Downloads - Top
no new posts