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Right Line Trading Method


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Right Line Trading Method

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  #1 (permalink)
 msull35706 
Saratoga, NY USA
 
Experience: Intermediate
Platform: NinjaTrader
Trading: CL, GC
 
Posts: 377 since Aug 2010
Thanks: 141 given, 809 received

Right Line Trading keeps you on the Right Side of the trade.

I'm starting up my day trading endeavors again and feel Mark Sachs, from Right Line Trading, is the man that will
guide me through all the shortcomings with my personal trading demons in getting where I need to be as a
professional day trader.

I welcome any/all feedback on what you think.

I will be regularly posting charts and TopStep Combine Summary results using this method.

Thank you

Mike Sullivan

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  #3 (permalink)
 msull35706 
Saratoga, NY USA
 
Experience: Intermediate
Platform: NinjaTrader
Trading: CL, GC
 
Posts: 377 since Aug 2010
Thanks: 141 given, 809 received


Has an Elliott Wave element to it. It's a market structure setup based on Order Flow Asymmetry.

The 'A' is a sign of a beginning of a trend with starting off with 2 consecutive matching Green/Red candles.

The 'B' is always going to be colored purple. This is the turning point bar
where buyers/sellers try to turn the market/trend.

The 'C' is the engulfing candle that states the trend is still in tact.
The engulfment is based on candle body only, not wick.

This setup is best taken on first instance in an up/down trend.

This trade was from 11/27/2013 and went for a total of 14tix.
In this case you would have achieved T1 of 6tix, T2 of 10tix, T3 4tix for a total of 20tix or $200 on 3contracts.

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 msull35706 
Saratoga, NY USA
 
Experience: Intermediate
Platform: NinjaTrader
Trading: CL, GC
 
Posts: 377 since Aug 2010
Thanks: 141 given, 809 received

Noted as an Arrow symbol on chart.
Signifies a minor retracement in an existing trend, usually to the 15MA.
Again classified as a continuation trade in an existing trend.
Want 15MA to stay color of trade. Green for long / Red for short.

On the 3LineIndicator below chart you have OrderFlow, Stochastic, Momentum from top to bottom.
Stochastic is ok to be off due to the retracement. As long as OrderFlow and Momentum are in direction of trade is all we need.

We look to take the first 2 instances for they are your best chances of profitability with trend.

This trade was from 11/25/2013 and went for a total of 36tix. Classic Pull Back to the 50MA and was rejected.
In this case you would have achieved T1 of 6tix, T2 of 10tix, T3 26tix for a total of 42tix or $420 on 3contracts.

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 msull35706 
Saratoga, NY USA
 
Experience: Intermediate
Platform: NinjaTrader
Trading: CL, GC
 
Posts: 377 since Aug 2010
Thanks: 141 given, 809 received

Noted as an '+' symbol on chart. Mark calls it an 'X' as well.

We look for price to stall and/or go sideways towards / into the 15MA. Never chase price
for a trade, let it come back towards the 15MA. Sort of a mini sideways channel.

This trade was from 11/25/2013 and went for a total of 19tix. Price stalled into the 15MA.
The 15/50MA's stayed Green along with the Order Flow and Momentum on 3LineIndicator below.
In addition to the Momentum indicator, you also have an ABC structure as well. An added bonus!

In this case you would have achieved T1 of 6tix, T2 of 10tix, T3 9tix for a total of 25tix or $250 on 3contracts.

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 msull35706 
Saratoga, NY USA
 
Experience: Intermediate
Platform: NinjaTrader
Trading: CL, GC
 
Posts: 377 since Aug 2010
Thanks: 141 given, 809 received

Trades are best taken with a price move through the 50MA.
So you want at least a 2/3rds piercing of the 50MA to take trade.
The candle body is outlined, yellow for short + blue for long, to show
agreement on all 3 indicators on the 3LineIndicator.

These usually occur on those fast price action transitions from long to short or
short to long cycles. I find this an easier way to engage a trade rather than
sitting on hands and waiting for a pull back / regression trade to the 15MA

This trade was from 11/26/2013 and went for a total of 19tix.
The 50MA was sloping down most of morning session. There was a brief price move above the 50MA
but didn't last long and came back down in the direction of the trend. This created a nice 3LB setup,
Order Flow, Stochastics and Momentum were in agreement and pulled the trigger!

The move went for 19tix.
In this case you would have achieved T1 of 6tix, T2 of 10tix, T3 9tix for a total of 25tix or $250 on 3contracts.

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 avall38486 
Dallas, Texas
 
Experience: Intermediate
Platform: ninjatrader
Trading: crude oil
 
Posts: 89 since Dec 2011
Thanks: 77 given, 43 received

Hi Mike,
Thanks for sharing your review of right line trading. I am looking into their method. seems to be very clear with little ambiguity. Would you mind sharing with at I have noticed us how this will help your trading demons ?

What I have noticed is that the entry setup is very clear, entry price is marked, the stop loss is clearly defined, profit targets are predetermined as well. The use of multiple time frames all plotted on one chart seems to be a great feature. Are all these issues you were looking for in a trading method ?

For me just getting in at the correct time when a pullback is completed seems to be a challange.

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  #8 (permalink)
 msull35706 
Saratoga, NY USA
 
Experience: Intermediate
Platform: NinjaTrader
Trading: CL, GC
 
Posts: 377 since Aug 2010
Thanks: 141 given, 809 received


avall38486 View Post
Hi Mike,
Thanks for sharing your review of right line trading. I am looking into their method. seems to be very clear with little ambiguity. Would you mind sharing with at I have noticed us how this will help your trading demons ?

What I have noticed is that the entry setup is very clear, entry price is marked, the stop loss is clearly defined, profit targets are predetermined as well. The use of multiple time frames all plotted on one chart seems to be a great feature. Are all these issues you were looking for in a trading method ?

For me just getting in at the correct time when a pullback is completed seems to be a challenge.

Thx Avall for your question....
Again trading is at least 80% psychological and if you're not mentally strong and have cemented your belief
in what ever trading system you're trading, you will falter and have mixed results.
I can show you 3 bad trades I took on Wednesday, 11/27/2013, that were ALL counter trend to the 50MA on CL.
Thinking, 'Hey.. this can't continue to keep going down... It's due for a rebound!!'
Well the results was not good and you need to trade what you see, not how you feel.
Right Line should have kept me out, but I felt compelled to still trade. Over time this bad habit will be boiled out of my system thanks to Mark's mentor ship with the program.

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  #9 (permalink)
 mroussos 
East Quogue
 
Experience: Intermediate
Platform: Ninja and Tradestation
Trading: 6E, YM, SP,NQ
 
Posts: 12 since Nov 2011

Hello Mike,


I will state my opinions and views on this system which I previously discussed with you --------------

1. Risk to Reward is not healthy.

2. Order Flow is the same no matter what timeframe chart you are looking at, dispelling the myth that it can be calculated or compared. Needless to say one cannot find dark pools or spoofing with any system.


3. If you can see an ABC pattern with an engulfing candle there is no reason whatsoever to have your entry pinpointed -
there is also a free indicator here on big mikes that clearly draws the ABC's called Price Action --- there is also a regression indicator.

4. What is not taught here and in most rooms is good money management principles. I cannot stress this enough, the allure of being a day trader with a modest account is not realistic. Most brokers and room moderators do not teach this. Instead the brokers offer low margins, thats the lure - take the bait. Trade Crude with a small account and you will get burned. Especially when your Risk to Reward is less then 1 to 1.

I know you are enthusiastic about this methodology, however I see some serious flaws.

Good Luck in your endevours.

Maria

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  #10 (permalink)
 mroussos 
East Quogue
 
Experience: Intermediate
Platform: Ninja and Tradestation
Trading: 6E, YM, SP,NQ
 
Posts: 12 since Nov 2011


I am unwilling to start a crazy debate on this --However ---

I do feel that my observations are valid ---

For instance to help the community --

There was a 90 plus move on CL on Wends I did take a screenshot however cannot seem to upload it ---

On the "RIGHT LINE" 300 was risked to make 260 --------------

I risked 12 Tiks to Make 55 ------------------ using Ultimate Tcik Bars and My Scalper to get me in with Sceeto as my guide to keep me in ---------------

Thats money management and I even left some on the table.

If anyone wants to find out more about my methods they can email me directly as I do not check this forum often enough.

[email protected]

Thanks

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