The Electronic Local method - Trading Reviews and Vendors | futures io social day trading
futures io futures trading


The Electronic Local method
Updated: Views / Replies:39,087 / 105
Created: by cunparis Attachments:19

Welcome to futures io.

(If you already have an account, login at the top of the page)

futures io is the largest futures trading community on the planet, with over 90,000 members. At futures io, our goal has always been and always will be to create a friendly, positive, forward-thinking community where members can openly share and discuss everything the world of trading has to offer. The community is one of the friendliest you will find on any subject, with members going out of their way to help others. Some of the primary differences between futures io and other trading sites revolve around the standards of our community. Those standards include a code of conduct for our members, as well as extremely high standards that govern which partners we do business with, and which products or services we recommend to our members.

At futures io, our focus is on quality education. No hype, gimmicks, or secret sauce. The truth is: trading is hard. To succeed, you need to surround yourself with the right support system, educational content, and trading mentors – all of which you can find on futures io, utilizing our social trading environment.

With futures io, you can find honest trading reviews on brokers, trading rooms, indicator packages, trading strategies, and much more. Our trading review process is highly moderated to ensure that only genuine users are allowed, so you don’t need to worry about fake reviews.

We are fundamentally different than most other trading sites:
  • We are here to help. Just let us know what you need.
  • We work extremely hard to keep things positive in our community.
  • We do not tolerate rude behavior, trolling, or vendors advertising in posts.
  • We firmly believe in and encourage sharing. The holy grail is within you, we can help you find it.
  • We expect our members to participate and become a part of the community. Help yourself by helping others.

You'll need to register in order to view the content of the threads and start contributing to our community.  It's free and simple.

-- Big Mike, Site Administrator

Reply
 19  
 
Thread Tools Search this Thread
 

The Electronic Local method

  #1 (permalink)
Trade with the flow
Paris, France
 
Futures Experience: Advanced
Platform: Market Delta & Ninjatrader
Favorite Futures: ES
 
cunparis's Avatar
 
Posts: 2,563 since Jun 2009
Thanks: 1,157 given, 2,028 received

The Electronic Local method

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:

http://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.





Last edited by cunparis; January 4th, 2011 at 09:09 AM. Reason: man that font looked terrible!
Reply With Quote
The following 2 users say Thank You to cunparis for this post:
 
  #2 (permalink)
Elite Member
Indianapolis, IN USA
 
Futures Experience: Advanced
Platform: Ninjatrader TOS Custom
Broker/Data: Several
Favorite Futures: ES CL ZB
 
Posts: 368 since Dec 2009
Thanks: 217 given, 366 received

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)
Trade with the flow
Paris, France
 
Futures Experience: Advanced
Platform: Market Delta & Ninjatrader
Favorite Futures: ES
 
cunparis's Avatar
 
Posts: 2,563 since Jun 2009
Thanks: 1,157 given, 2,028 received



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.

Reply With Quote
 
  #4 (permalink)
Elite Member
san ramon
 
Futures Experience: Beginner
Platform: ninja
Broker/Data: zen
Favorite Futures: es, 6e
 
Posts: 136 since Oct 2009
Thanks: 98 given, 73 received

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


Last edited by zikonc; January 18th, 2010 at 07:27 PM.
Reply With Quote
 
  #5 (permalink)
Elite Member
Northern California
 
Futures Experience: Intermediate
Platform: Ninja Trader
Broker/Data: Amp Futures/ Zen-Fire
Favorite Futures: YM and CL
 
Jeff Castille's Avatar
 
Posts: 2,119 since Jun 2009
Thanks: 1,785 given, 3,279 received

Momentum Dots

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.

Reply With Quote
The following 5 users say Thank You to Jeff Castille for this post:
 
  #6 (permalink)
Trading Apprentice
vienna
 
Futures Experience: Master
Platform: MultiCharts
Favorite Futures: NQ
 
Posts: 22 since Aug 2009
Thanks: 0 given, 37 received


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
The following 3 users say Thank You to insideday for this post:
 
  #7 (permalink)
Trading Apprentice
vienna
 
Futures Experience: Master
Platform: MultiCharts
Favorite Futures: NQ
 
Posts: 22 since Aug 2009
Thanks: 0 given, 37 received

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)
 Vendor: www.integrity-traders.com 
East Rochester, NY
 
Futures Experience: Intermediate
Platform: NT
 
eDanny's Avatar
 
Posts: 327 since Jul 2009
Thanks: 17 given, 419 received

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

Attached Thumbnails
The Electronic Local method-dpldot.png  
Attached Files
Register to download File Type: zip DPLDot.zip (3.5 KB, 167 views)
Reply With Quote
The following 4 users say Thank You to eDanny for this post:
 
  #9 (permalink)
Elite Member
virginia
 
Futures Experience: Intermediate
Platform: ninja
Favorite Futures: ES
 
cory's Avatar
 
Posts: 5,198 since Jun 2009
Thanks: 627 given, 6,285 received


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)
Elite Member
Northern California
 
Futures Experience: Intermediate
Platform: Ninja Trader
Broker/Data: Amp Futures/ Zen-Fire
Favorite Futures: YM and CL
 
Jeff Castille's Avatar
 
Posts: 2,119 since Jun 2009
Thanks: 1,785 given, 3,279 received

CCI



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

Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).


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.

Reply With Quote
The following 4 users say Thank You to Jeff Castille for this post:

Reply



futures io > > > The Electronic Local method

Thread Tools Search this Thread
Search this Thread:

Advanced Search



Upcoming Webinars and Events (4:30PM ET unless noted)

Adam Grimes: TBA

Elite only

NinjaTrader: TBA

Dec 7

Linda Bradford Raschke: TBA

Elite only

Ran Aroussi: TBA

Elite only
     

Similar Threads
Thread Thread Starter Forum Replies Last Post
September Crude gaps $1.55 down on electronic opening RM99 Commodities Futures Trading 7 August 11th, 2011 03:20 PM
Local vs Exchange time Mondrakete TradeStation 2 May 8th, 2011 06:40 PM
Exchanges Learning to Love Electronic Trading Networks Quick Summary News and Current Events 0 September 16th, 2010 09:10 PM
The Intensity of Commercial Trade at Local & Session Extremes UrmaBlume NinjaTrader 6 August 25th, 2010 11:23 PM
Composite / Electronic Data Feed jimjones26 Reviews of Brokers and Data Feeds 2 March 26th, 2010 10:16 AM


All times are GMT -4. The time now is 10:22 AM.

Copyright © 2017 by futures io, s.a., Av Ricardo J. Alfaro, Century Tower, Panama, +507 833-9432, info@futures.io
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.
no new posts
Page generated 2017-11-19 in 0.14 seconds with 20 queries on phoenix via your IP 54.81.195.240