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I sim traded CL every day for months before trading it live. If I can't produce something green after all that, I should be fired. :p Two things that helped me the most: be patient and don't be afraid to miss moves (the second mouse gets the cheese); cut the losers quickly.

Me too, and I'm posting my trades so if I ever start averaging down ya'll can kick my ass. :D

Intraday reversal signaled: failed breakout followed by a lower high.

Intraday it's counter-trend, and on the daily chart it's oversold and could easily test the 20-bar MA on the daily chart which would take us to 84.00. Price double bottomed in the wee hours and has been rising above the rising 20 MA on the 5-min chart ever since, so I consider the intraday trend up.

I'm curious why you use such a wide stop when trading counter-trend? I personally place my stop right on the previous high; anything higher signifies a breakout and CL can break out 20 ticks or more in a few seconds. EDIT: Actually, I can sort of see why, this far along in the intraday trend...

I know of two setups we use all the time against the backdrop of trend-following and relative strength/weakness. Shorting a lower high in a down trend, buying a higher low in an uptrend. Seriously, if that's all you ever do as a trader, you have yourself a paying job.

The path of least resistance is still up; trend intact, earnings solid as a rock, economic indicators stable to up, and best of all: free money from the fed!

+$1018 What happened to everyone? I figured today would be a $200K day for some of you guys! Why I chose to trade tiny size and only a few trades on one of the best days of the year for price action is beyond me. :confused: :confused: :confused:

Fortunately as day traders, we'll both likely win :cool:

emg, if you start trading this thing with 5-tick targets, I'm gonna reach through the screen and slap you :D

Reversal signal is in. Sell any rallies to the 20-bar MA that fail to break through IMHO

I'm a bit peeved at myself. Saw an ES short signal 3:25pm with an 1179.50 target zone and didn't trust it. I'm too used to end of day monster rallies after a big selloff. This second selloff caught me totally off guard. I chased the one this morning and snared a nice gain, but was afraid to...

Now THAT'S a short signal. None of this "too high" crap. :D

He was calling me on that scratch trade I didn't call here, because it lasted 30 seconds. At least I think that's what he was calling me on :eek:

Shorted when price pulled back from a lower high through the 20MA, but exited b/e when there was no follow through. I need follow through out of narrow ranges or I'd rather bail and re-evaluate.

Calling it a day with CL, +$426. Best trade today was an ES momentum trade during the selloff, 2 lots short @ 1194.50, covered 5 mins later @ 1188.50 for +592. I attached my blotter for timing, but I think I called my trades pretty close to real time, except the early scratch trade, no...

I hesitated at the "get back in " part, right around 82.55. Booking a nice profit today and got protective all of a sudden.

Thanks. If I wasn't countering a micro-trend to the upside and also shorting near a pretty significant support zone, I would've been more patient leaving my stop @ b/e. Also only trading 1 lot, so couldn't scale. I would like to add: aaaaaarrrrggghh!

Covered @ .65 trailing a 10-tick stop. It should definitely crash now.

sh @ 82.79, sl moved to .76, targeting .41