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My 6E trading strategy
Started:May 20th, 2011 (12:53 PM) by cjbooth Views / Replies:178,577 / 1,177
Last Reply:October 5th, 2011 (05:22 AM) Attachments:356

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My 6E trading strategy

Old June 7th, 2011, 12:23 PM   #221 (permalink)
Elite Member
San Antonio, TX
 
Trading Experience: Intermediate
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cjbooth View Post
there really cant be a rule of how many ticks spacing is required. this is something you will learn with screen time and watching the market live.

You will get to where you'll say wait a minute look at those trigger lines this did not work last time I saw that.

So screen time & practice will give you that information

charles

So in a sense, this part of your system is discretionary. There is no rule for it, sometimes 2 ticks will be too wide and sometimes it will be fine. The ZigZag lines on your 377 tick chart and mine look very different eventhough the settings are the ones you state in your trading rules, it's probably a data feed issue.

     

Old June 7th, 2011, 12:24 PM   #222 (permalink)
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Stochastics point

I am posting the same picture that was on Surly's question below to point out something of interest

See the white line I have running across the center of the Stochastic indicator. this represents the 50 line

It is best when these divergences occur that they occur below 50 for a long and above 50 for a short

Some may ask why you would not go long at that prior HL, see the Stochastic at that point it is at or a little above 50 - those moves generally do not cause much of a push

Please register to view the post attachment(s), image(s), or screenshot(s) - it's simple and free.


charles

     
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Old June 7th, 2011, 12:27 PM   #223 (permalink)
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Thanks Charles - 5 ticks is exactly what I got as well.

Yes, the market is choppy the last couple days for sure. We can't complain too much after that big day on the 3rd but that's the nature of trend trading - as you have driven home on this thread, waiting for the right market conditions is the key to making a system like yours work. I've been following it and practicing your system specifically to practice patience and waiting for the right conditions to develop. The clear rules make it very obvious to me when I have taken a trade outside the parameters and so I have an objective measure of my patience and discipline.

I also find it helpful to compare the trades taken with your method vs the patterns I usually trade on the charts I watch. Comparing where your system enters and exits gives me insight into my own methods - seeing entries I might not have taken or filtering out trades I might have entered on.

thanks again.

     
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Old June 7th, 2011, 12:27 PM   #224 (permalink)
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Lmess View Post
So in a sense, this part of your system is discretionary. There is no rule for it, sometimes 2 ticks will be too wide and sometimes it will be fine. The ZigZag lines on your 377 tick chart and mine look very different eventhough the settings are the ones you state in your trading rules, it's probably a data feed issue.

yes it is discretionary --

if your chart looks dramatically different than mine make sure in the data series control window that the "session template" is set to "CME FX Futures ETH"

Charles

     

Old June 7th, 2011, 02:41 PM   #225 (permalink)
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Whole #'s

I have mentioned on previous post about your need to be aware of whole #'s on your chart

I found this nice indicator on BMT that auto plots them so you dont forget

Import the attached indicator and in the settings window under Misc set "Numbers ending In" to "00"
and your all set


RoundNumbers.zip

Charles

     
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Old June 7th, 2011, 06:27 PM   #226 (permalink)
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Trades per week?

Charles - I wonder if you have statistics on how many trades your system generates per week on average? I'm sure you have an estimate of the same but I wonder what your own weekly trade statistics have been on average over a period of weeks or months.

thanks in advance.

     

Old June 7th, 2011, 06:47 PM   #227 (permalink)
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Surly View Post
Charles - I wonder if you have statistics on how many trades your system generates per week on average? I'm sure you have an estimate of the same but I wonder what your own weekly trade statistics have been on average over a period of weeks or months.

thanks in advance.


As I am sure you know its not my method but the movement of the market that determines how many trades I get.

On a good day I can get as many as 5 or 6 trades a day, on days like we have had the last 2 days I will still get at least 1 or 2

I did post my weekly stats for last week if you want to go back to last Friday and see them.

on average though I will usually get 16 trades a week

Charles

     
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Old June 7th, 2011, 06:56 PM   #228 (permalink)
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thanks - yes, allowing the market to determine how many trades you take per day or per week is so important. Overtrading has been one of my own weaknesses (and I know this is not a unique problem) and following a more specific set of trading rules has been a good model for me. Watching myself and how I react to the signals generated or not generated by your method (and of course the times that I "fudge" the trading method as an excuse to get into the market) has been very instructive. I think following another's method is uniquely useful for this - it is much easier (and more insidious) to fudge one's own methods without being quite as aware of it. There is self-discipline in action but also in "seeing" correctly - sometimes the latter is more tricky to get right.

cheers,
surly

     
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Old June 8th, 2011, 12:03 AM   #229 (permalink)
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Charles,

First I think "Thank you" is in order for sharing.

If you have a chance please look at my chart and see everything's ok.

One thing I couldn't figure out is that on my chart the last bar is always outside of indicators unlike your charts.

Just want to make sure all the parameters set right for the indicators because I think it's critical to be accurate on

377 chart.

Another question is about other instruments with this system such as the popular mini SP....

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My 6E trading strategy-6e-06-11-377-tick-6_7_2011.jpg  
     
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Old June 8th, 2011, 12:27 AM   #230 (permalink)
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ZIG ZAG


First I want to thank you for sharing you method with us. I know that it is appreciated by all of us here.
I am having an issue with the zig zag indicator. It wont plot on my charts for some reason

     

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