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My 6E trading strategy
Started:May 20th, 2011 (12:53 PM) by cjbooth Views / Replies:178,569 / 1,177
Last Reply:October 5th, 2011 (05:22 AM) Attachments:356

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My 6E trading strategy

Old May 26th, 2011, 03:48 PM   #31 (permalink)
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toronto canada
 
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Question for you....

I have never traded 6E but may some day. To get a better idea of the signals you are taking I would like to track some of your trades on a 6E chart.

My question is who is your data provider.

I ask because 377 tics from IB can be radically different than 377 ticks from esignal.

I use IB.

Thanks for sharing.

React to what price does - Not what you think.
     

Old May 26th, 2011, 03:58 PM   #32 (permalink)
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reply to comment

I trade on Ninja trader 7 my data feed is Zen-Fire

One thing of note is that tick charts are rarely the exact same on every traders chart due to the way data providers process tick data.

The important thing is to learn my rules as regardless of what my chart versus yours looks at any given time these trade setups will occur on every chart at some point

I'm a far cry from being or even being associated with a broker but I thought I heard awhile ago that IB does not supply tick data, I may be wrong. I have also looked at this strategy on a 3 and 12 minute charts, it works just as well there but you will have fewer trades mainly because of risk tolerance. A 3 minute candle can really run away from you at times


Last edited by cjbooth; May 26th, 2011 at 04:03 PM. Reason: added info
     
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Old May 26th, 2011, 04:15 PM   #33 (permalink)
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Old May 26th, 2011, 04:20 PM   #34 (permalink)
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tic data for 6e strategy

I am using Transact Data since my broker provides it for free with the trading platform. I just feed it into my charting package. I was able to get my charts to look similar to the ones for this strategy.

     

Old May 26th, 2011, 06:47 PM   #35 (permalink)
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Keltner channel in my strategy

I have been asked by several traders why I have a Keltner channel on my chart when it is not mentioned in the rules as being a part of a trade decision so I thought I would clear this now

the Keltner Channel is used only as a trade nuance filter. I would not want to go long as an example if the Keltner was trending down and not showing any signs of starting to roll up.

many traders use the Keltner or bollinger bands in their trading if you take a trade hoping the channel will turn you will likely take some heat on the trade as MA traders will knock price against you when price gets to it. The trade may very well still work but I think it's a good filter to prevent an entry that might be a bar or 2 early


thanks for the questions

charles

     
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Old May 26th, 2011, 08:03 PM   #36 (permalink)
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Charles,

thanks for posting this thread and sharing this very well thought out method,

what I am amazed with, is the regularity and frequency of good trades most days provide, especially during the NY session.

thanks for sharing,

     

Old May 27th, 2011, 01:53 AM   #37 (permalink)
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Hi ,

As fas as I know, and I think it is still as it was, IB filters its data which means that you get less ticks than compared with what actually happens at the exchange. As this method counts ticks, you obviously will not get charts that match.
Following from this, I would not use IB data.
I also have an account with IB but use Kinetick which is a NT company.If you want to know more about bars in general,
ninjatrader.com/support/helpGuides/nt7/index.html?how_bars_are_built.htm
provides some information
Zen Fire comes for free when you open a account with certain brokers, its data are unfiltered, too. CQG or so doesnt filter ticks, eSignal says it doesnt filter as well, but their data feed requires NT 32-bit ..at BMT are some other threads about data feeds, go through them if you like ...



mmaker View Post
I have never traded 6E but may some day. To get a better idea of the signals you are taking I would like to track some of your trades on a 6E chart.

My question is who is your data provider.

I ask because 377 tics from IB can be radically different than 377 ticks from esignal.

I use IB.

Thanks for sharing.


     
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Old May 27th, 2011, 07:58 AM   #38 (permalink)
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aurora,il
 
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chart template/Tick data

When setting up your charts in "Data Series" change the "Session Template" to "CME FX Futures ETH" do this on both charts

The Currency Futures market is not 24 hours it's 23

As I mentioned in an earlier post rarely will 2 traders tick charts appear exactly the same at the same time

I prefer this thread remain an educational one and not turn into a tick chart debate

There are many factors that go into the processing of tick charts depending on your platform and data feed. This is not the point of my methodology. The point is the rules of my trades, they will occur on every traders chart regardless of the differences on my chart or yours. I will get trades that you dont you will get trades I dont, its as simple as that.

Learn the rules - trade the rules

I welcome you to send me screenshots by email of your trades and I will be happy to critique them for you in order to assist you in learning the setups

boothcj@comcast.net


Last edited by cjbooth; May 27th, 2011 at 07:59 AM. Reason: add info
     
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Old May 27th, 2011, 10:42 AM   #39 (permalink)
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5/27 trading

Hi all - I have not placed any trades as yet today and I don't expect to place any the rest of the day. Although there were a couple of setups earlier I missed them because I was so bored. I am not really a fan of trading the day before a long holiday anyway so lets do some education instead.

Each day over the weekend I will post a brief lesson relating to the nuances of my methodology.

Here I will show a lesson on the 1508 chart, the one that must set up 1st before considering the 377 for an entry

look at this chart of the 1508 points I have marked

#1 Vertical move down to a new lower low
#2 a lower high which you could have traded if the 377 candles were not printing every 1 second, seriously they were you would have got a horrible fill and got stopped out
#3 that is not a lower low no candle closed below the #1 swings low
#4 a new higher high
#5 a higher low - look at the 377 this is occurring at 8:55 or so central time, remember from my post yesterday about the Keltner nuance, it is moving sideways to slightly down when a possible trade occurs, and I said that this setup would take some heat - well it actually would have stopped you out so I saved you a losing trade
#6 a lower high but you are not in a downtrend as point 5 is a higher low
#7 This appears to be a lower low followed by a lower high retrace at point 8, price has also pulled back to the cloud and the MA. this is where I say "Is this really a trend ?" by looking left before I place a trade. All those ZigZag swing lows are potential support or resistance if price was going the other way. In this type of look you have to ask is this a high probability trade. To me the answer is no I would wait until price clearly demonstrates a trend rather I miss a good trade or not. wait until price takes out support and then test it - in this example I would wait for a clear break below 1.4223 and then a retrace to the cloud/MA

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


now after looking and studying that chart look at this one and tell me which chart is most likely to make you money, the 1st choppy one or this trending one


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


have a great weekend I will resume trading Tuesday but will add post to this thread over the weekend


Last edited by cjbooth; May 27th, 2011 at 10:50 AM. Reason: correct spelling
     

Old May 27th, 2011, 05:24 PM   #40 (permalink)
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Great


Nice work Charles!



cjbooth View Post
Hi all - I have not placed any trades as yet today and I don't expect to place any the rest of the day. Although there were a couple of setups earlier I missed them because I was so bored. I am not really a fan of trading the day before a long holiday anyway so lets do some education instead.

Each day over the weekend I will post a brief lesson relating to the nuances of my methodology.

Here I will show a lesson on the 1508 chart, the one that must set up 1st before considering the 377 for an entry

look at this chart of the 1508 points I have marked

#1 Vertical move down to a new lower low
#2 a lower high which you could have traded if the 377 candles were not printing every 1 second, seriously they were you would have got a horrible fill and got stopped out
#3 that is not a lower low no candle closed below the #1 swings low
#4 a new higher high
#5 a higher low - look at the 377 this is occurring at 8:55 or so central time, remember from my post yesterday about the Keltner nuance, it is moving sideways to slightly down when a possible trade occurs, and I said that this setup would take some heat - well it actually would have stopped you out so I saved you a losing trade
#6 a lower high but you are not in a downtrend as point 5 is a higher low
#7 This appears to be a lower low followed by a lower high retrace at point 8, price has also pulled back to the cloud and the MA. this is where I say "Is this really a trend ?" by looking left before I place a trade. All those ZigZag swing lows are potential support or resistance if price was going the other way. In this type of look you have to ask is this a high probability trade. To me the answer is no I would wait until price clearly demonstrates a trend rather I miss a good trade or not. wait until price takes out support and then test it - in this example I would wait for a clear break below 1.4223 and then a retrace to the cloud/MA

Attachment 39427

now after looking and studying that chart look at this one and tell me which chart is most likely to make you money, the 1st choppy one or this trending one


Attachment 39430

have a great weekend I will resume trading Tuesday but will add post to this thread over the weekend


     

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