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Once you sell your soul to CL, there is nothing else like it :D

I've found that they do. I've traded stocks, oil futures, stock index futures, and currency futures successfully using all the same chart patterns. I traded FX in a sim account successfully using the same patterns as well. I guess if you traded large size, you could make a "killing", but...

Noise tends to occur after a strong trending move. Strong trending moves normally have 2-3 pushes before a relatively long period of consolidation. In a 5-min day trading time frame, "relatively long" is 30-45 minutes of consolidation which can be in the form of a range or channeling range...

I never could figure out how HFTs in any way affected day traders negatively, as the majority on ET seems to believe. They're scalping for fractions of cents; I'm looking to capture large chunks of price swings of .40 or more. As far as I know and correct me if I'm wrong, HFTs provide a lot...

Hi Mark, I haven't dropped in on this thread for a long time, so sorry for not addressing this. I keep a 20-period moving average on my charts in every time frame, but it's not an indicator; in other words, it doesn't indicate anything in particular. Stochastics and RSI indicate...

Neke, good to hear that! Is the week's success in your automated trading the result of something new you've done to the system or is it based on the same strategies you've been using all along? You may have already addressed this somewhere in the thread, but what is the current return of...

The specifics of a system are important to answering your question. Different strategies for trading will entail varying numbers of potential losses without necessarily invalidating the process in any way. Take trend-following as an example. I know of four proven methods of entering a trend...

Eddie, it's good forever, OK? Unless you're really TRYING to lose! :p I'm not sure a 6:1 risk:reward is prudent with CL :D P.S. - I was worried about you when I saw the overnight dump that had transpired :eek:

Counter-trend trading is best left to the professionals (ammo, for example). It requires a well-researched and tested methodology with rules for risk management and it requires you have experience and a track record of following your rules. It can't be based on too high/too low, or what you...

What??? You exited a short AFTER it broke MAJOR SUPPORT??? As ET's Resident Mom, I have only this to say: "Go to your room!" :p :p

What is your average and target? Why did you start the position @ 102.00? Do you think we could get 50% retracement of today's move? That deep tend line should provide a bounce. Wasn't GS looking for a value entry to go long again? Seems like a value entry to me. And where IS Schizo???

My mind has blanked out the details of this day, but I'm pretty sure that I once had at least 10 losses in a row while revenge trading a particular stock, which to protect the innocent, we'll just call "X" :p Now that I'm experienced and have a tested and proven system, I rarely encounter...

That's funny, I just read a news report saying that traders are hedging like crazy by buying record quantities of USO puts.

I have a prehistoric trend line on my daily chart and the price at this trend line is 98.25, which is where price appeared to find support. Time to average into some long swings here? :D

Ha ha! We're even! I did come back and trade the final hour, four shorts, one long, who cares, it was spitting money today in a technically beautiful fashion!

I'd retire too, but I'm still in the "Holy Crap!" phase of my trading, eyes filled with wonder, mouth going, "Wow", brain wondering "Is this real?". Best day ever! :p

Hope everyone followed the trend today and killed it. When I saw oil down so much overnight, I dug through my old notes to find the lower support levels and I stopped at the key daily level 102.70. I had a short on while it was crashing deep into the 101.00's and price was all over the map. I...

I don't think it ever moved the the equivalent of $30,000/contract in less than 15 minutes during the run up, though. :eek: If by "liberal" you're referring to "socialist", "anti-business", "big government" and other such Hot Button Phrases for Dummies, you've got to be kidding. The media...

Small price to pay for success :p :p

I sent a message to a prospective trader recently, here's an excerpt: Trading is a career where there is no way to ensure "right" no matter how much you study price action and master the best patterns for positive expectancy. Trading is "sloppy". There are wins and losses, and being...