The Electronic Local method - futures io
futures io futures trading



The Electronic Local method


Discussion in Trading Reviews and Vendors

Updated by YuvalW
      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 Zondor with 2.0 thanks per post
    3. looks_3 Jeff Castille with 0.9 thanks per post
    4. looks_4 cory with 0.5 thanks per post
    1. trending_up 44,520 views
    2. thumb_up 62 thanks given
    3. group 32 followers
    1. forum 105 replies
    2. attach_file 19 attachments




Welcome to futures io: the largest futures trading community on the planet, with well over 100,000 members
  • Genuine reviews from real traders, not fake reviews from stealth vendors
  • Quality education from leading professional traders
  • We are a friendly, helpful, and positive community
  • We do not tolerate rude behavior, trolling, or vendors advertising in posts
  • We are here to help, just let us know what you need
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

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

 
Search this Thread
 

The Electronic Local method

(login for full post details)
  #1 (permalink)
Paris, France
 
Experience: Advanced
Platform: Market Delta & Ninjatrader
Trading: ES
 
cunparis's Avatar
 
Posts: 2,565 since Jun 2009
Thanks: 1,162 given, 2,076 received

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.




Follow me on Twitter Reply With Quote
The following 2 users say Thank You to cunparis for this post:

Can you help answer these questions
from other members on futures io?
T​​​​​​radestation datafeed (real time and historical) to NT8
NinjaTrader
help to convert from thinkscript to ninjascript
NinjaTrader
Need a near crosses scan help for TOS
ThinkOrSwim
Price Down, Volume Up, Open Interest Down
Traders Hideout
Looking freelancer for MT4 Indicator
Platforms and Indicators
 
Best Threads (Most Thanked)
in the last 7 days on futures io
Legal question and need desperate help
69 thanks
Building a high-performance data system
14 thanks
Risk reward question
11 thanks
TopstepTrader's Michael Patak (Founder) - Ask Me Anything (AMA)
11 thanks
Is Orderflow An Outdated Concept?
11 thanks
 
(login for full post details)
  #2 (permalink)
Indianapolis, IN USA
 
Experience: Advanced
Platform: Ninjatrader TOS Custom
Broker: Several
Trading: ES CL ZB
 
Posts: 374 since Dec 2009
Thanks: 225 given, 379 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
 
(login for full post details)
  #3 (permalink)
Paris, France
 
Experience: Advanced
Platform: Market Delta & Ninjatrader
Trading: ES
 
cunparis's Avatar
 
Posts: 2,565 since Jun 2009
Thanks: 1,162 given, 2,076 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.

Follow me on Twitter Reply With Quote
 
(login for full post details)
  #4 (permalink)
san ramon
 
Experience: Beginner
Platform: ninja
Broker: zen
Trading: es, 6e
 
Posts: 136 since Oct 2009
Thanks: 98 given, 76 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

Reply With Quote
 
(login for full post details)
  #5 (permalink)
Northern California
 
Experience: Intermediate
Platform: Ninja Trader
Broker: Amp Futures/ Zen-Fire
Trading: YM and CL
 
Jeff Castille's Avatar
 
Posts: 2,119 since Jun 2009
Thanks: 1,783 given, 3,292 received

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
The following 5 users say Thank You to Jeff Castille for this post:
 
(login for full post details)
  #6 (permalink)
vienna
 
 
Posts: 22 since Aug 2009
Thanks: 0 given, 38 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
 
(login for full post details)
  #7 (permalink)
vienna
 
 
Posts: 22 since Aug 2009
Thanks: 0 given, 38 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
 
(login for full post details)
  #8 (permalink)
East Rochester, NY
 
Experience: Intermediate
Platform: NT
 
eDanny's Avatar
 
Posts: 329 since Jul 2009
Thanks: 17 given, 420 received

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:	692
Size:	50.9 KB
ID:	6936  
Attached Files
Register to download File Type: zip DPLDot.zip (3.5 KB, 177 views)
Reply With Quote
The following 4 users say Thank You to eDanny for this post:
 
(login for full post details)
  #9 (permalink)
the coin hunter
virginia
 
Experience: Intermediate
Platform: ninja
Trading: NQ
 
cory's Avatar
 
Posts: 5,998 since Jun 2009
Thanks: 831 given, 7,832 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
 
(login for full post details)
  #10 (permalink)
Northern California
 
Experience: Intermediate
Platform: Ninja Trader
Broker: Amp Futures/ Zen-Fire
Trading: YM and CL
 
Jeff Castille's Avatar
 
Posts: 2,119 since Jun 2009
Thanks: 1,783 given, 3,292 received



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


futures io Trading Community Trading Reviews and Vendors > The Electronic Local method


August 18, 2011


Upcoming Webinars and Events
 

Getting Comfortable with Price Action Patterns w/Earn2Trade

Aug 4
 

Live Video Panel: Ask Me Anything w/Ironbeam Brokerage

Aug 6
     



Copyright © 2020 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