ICE Trade on TF - Quick 40 Ticks CORRECTION 70 Ticks!

#1

ICE Trade Baby!!! Here is just one trade I took today Friday - June 26, 2015 on TF.

This post started out to show 40 ticks, but then later when I went to shut down my Ninja as you will see below, I could not help but to grab another 30 ticks using ICE.

I saw the setup on the 6 tick Chart, TF had elevatored long on the 6 tkc so I waited with my entry just a few more ticks from that just past the -.5 Deviation. Moved my stop closer as it reached the Red ICE Line. Pulled back and locked in 40+ ticks.

Those ICE levels are strong. You too can do this!

So I came back to shut down my Ninja and saw this bounce developing off the -.5 deviation again for a second time. So I had not choice but to ride it up again. Went for a 10 tick scalp first, looks like I got 9 ticks. But this time I am on 2 contracts. I see the 6 tick chart elevator so I get back in again and grab another 20 ticks up to the Red ICE Line! Again 2 contracts. This was a great day on what seemed to be a flat market.

While you wait for ICE to come out of beta testing you can always go to the room and get the ICE Line price points from one of the beta testers in there. So you can already start to use this now, just hop in the room and if you don’t see the one you want ask.

Now that you have the ICE Lines price points why not draw them on your magnet chart now? Then if you want you can share them with all your charts fast and easy.

Want to learn how to draw ICE Lines once and have them appear on all your charts? Then Click Here!

#2

These ICE lines are absolutely awesome to use as profit targets and entries. Can’t wait until they are released.

Just kind of wish there was a different name. I get sick every time I hear ICE ICE BABY. It reminds me of my platoon SGT at military school, who would play that Vanilla Ice song on repeat all night long, and would go to sleep with it playing. I finally went in took his Boombox, and threw it out the window. I did A LOT of pushups after that, but it was worth it…

Brad

#3

Joe,

Thanks for sharing. I am not clear on how you determined your entries. The first entry was off the 0.5 dev and it does not appear you used the TC entry but instead you got in earlier. How did you make that decision? For the second entry, it appears you used the 6 tick TC standard elevator entry. Is that true? Your exit is clear with the red ICE line. Of course you have other “goodies” on your chart of which I am not sure whether your relied upon them for your decision making in this case.There is a lot of new stuff to wrap my head around. I see many posted trades which do not adhere to the TC rules as I understand them; however, I am sure the beta testers are relying upon the newer indicators in some instances to give them an additional edge…earlier entries and better exits than just trailing with the predictor line. I am eager to learn this stuff as I continue to struggle…I am mostly to blame for that as I keep deviating from the rules without sound logic to do so.

Thanks again for your service to the Apex community. Also, thanks to DM, Lori, KJ, Marilyn and all of the Apex staff!

Ned

#4

Ned - I don’t want to speak for Joe, but this is my experience …

The Trend Catcher is the “basic” system and it works (well). All of the new fangled things are just tools to help fine tune entries, exits.

Before getting too wrapped around the axle, master just the Trend Catcher on one instrument. Then once you can take entries and trail according to the rules, use the new stuff to help you be more “picky” about your entries and exits.

There are always new things coming out here, and if you try to keep up without a solid foundation on the system, you won’t ever get ahead.

Hope this helps.

Happy trading!!! Brad

#5

Hey Joe, what is your chop filter settings for the 6 tick chart. Thanks

#6

Are these ice lines still in beta? If so when will they be released to everyone?

#7

They are on several traders charts in the elite room. Many of these trades are calling in the Elite room. They will be in the toolkit in the next few weeks. We are always adding more tools to help improve trading. Dont wait just hop in the room.

#8

I would have done the same thing! Besides, I like pushups! Semper Fi!

#9

Nedster,

For the first trade you see I used the following logic.

1: There had been a nice steady down trend with very little to no chop and with volume.

2: Verification of item 1 can be seen in the @Deviation indicator at the bottom of my chart.

3: The Chop Filter was also a nice long steady RED as the market was going down away from the RED ICE Line.

4: Following what Marilyn has taught me, see the “Mountain” appear to reach above the black line on the @Deviation indicator. It goes above the black line on that indicator; it too was smooth on its way up so even better.

5: Volume had dropped once it got down to that -1 deviation for the day. I had reloaded my chart to make that post so you didn’t get to see the volume, but if historical was on the volume you would have seen it had dropped off and was not exceeding after the reversal.

6: I did wonder if it was ONLY going to the -5 Deviation or not. So I waited, I let it go there, saw the elevator on the 6 tick chart and told myself this is as good a time as any to jump in here.

I have been taught by Marilyn and Darrell and others, you need a reason to get into a trade, the most important reason is, the market must have somewhere to go. After running down the list of items 1 through 6. I had determined that at this point the market did have somewhere to go and a reason to get there.

The somewhere to go in my mind was the Red ICE Line. The magnetic power of the Red ICE Line can be very strong.

The reason to go is that the market does not usually want to only go in one direction each day but to oscillate and since it had already made a -1 deviation so far I could see it had a reason to start to move.

So a reason to move and a place to go, jump on the bus and take a ride.

#10

Nick, my chop filter settings on the 6 tick chart at that time was 15 and 12.

#11

Thanks Joe for the detailed explanation. I really appreciate it.

Ned

#12

Very nice trades Joe!!! Seems like you are liking the 6 Tick as well. I find the 6 Tick works well for me in many instances as well when trading CL and have used it for many months now. I do though heed Marilyn’s experience and be careful using it during very fast moving times in the CL market. I also have seen the power of using ICE Lines and getting the stats in the room. I am still watching and observing how each one works and how the market acts around them. For me it is challenging sometimes to say with any certainty and consistency how price will move around them. So I have been looking back to see how price reacts around them individually Green, Blue, Red to notice maybe if each one does have a consistent characteristic as a magnet and how price action reacts and moves throughout the trading day. I have also noticed that during the week that the previous day’s ICE Levels can have an impact on market movement as well. So I keep the older lines on my charts as well and just change their size in properties.