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This is a vestige of my 3-min chart stock trading days. I have a USO chart in the corner of one of my screens and I reference it throughout the day for the stochastics and nothing else. It's a full stochastic (lines for both fast and slow) , with the %D and %K @ 5 and the slowing interval @...

Day trading off a 5-min chart from NYMEX open to close, you should be able to capture 60-80 ticks without too much trouble. If you've spent hours on end coming up with rules to keep you on red alert during indecisive chop, then you will make significantly more. Since oil recently went on meth...

You can't accuse of me of not trying to let a winner run :D

Ha, I'm back and I've been filled since 12:31 eastern time (no hard target yet).

Where are the over-caffeinated oil traders today???? (EDIT: Stepping away from my desk to caffeinate myself.)

Can everyone give a nice Heave-Ho!!! and push thru this pivot line?

This is the first day I've trade pure price, with no regard whatsoever for news releases. Turns out I traded through both Chi PMI and Pending Home Sales. Not ready to ignore inventories yet, though. :D

No doubt. I came to the table ill-prepared today. Got up late, noted no levels whatsoever, so I've been taking profits randomly :confused:

1. There is no time to post in this madness :D 2. I haven't traded long one single time today :D 3. Take what you can while you can :eek:

The way I trade, the market says "no" when a) my protective stop is hit or b) a reversal is triggered and I'm stopped out for a smaller-than-max loss or a smaller-than-minimum profit and am now positioned in the opposite direction (stop-and-reverse). Letting small profits turn into losers is...

From an AP article: "The chaos in Libya as it descends into virtual civil war has sent international oil prices skyrocketing despite a pledge from Saudi Arabia, the world's largest oil exporter, to ramp up exports. And that volatility is likely to continue, because it could take weeks or even...

Was it just me or did the Grail seem exceptionally Holy this week? :cool:

Some strategies work on most instruments across all time frames. Other strategies are instrument-specific. I looked at SPY and F over the past 3 days and the kind of setups I trade work equally well on both. What strategy do you use on one that doesn't work on the other? If it's a...

I call this the "second mouse" entry and I was using it a lot lately on pullback pivot entries. I wait for a previous bar break to signal a pullback entry, then wait for price to pull back to it and have a limit order waiting there. The traders who move their stops to break even right away are...

If you're Martingaling because you believe price always comes back to a certain level to give you a profit, then you don't use stops; you're averaging until price comes back. There is the possibility a trade may take you out of the game. A trader I know once put a position on near the end of...

This week was a critical test of my trader’s mindset. Not too long ago I posted a concern on CL Redux about adapting to trading CL as it was breaking into a higher price range and volatility level with which I had no experience. I knew I’d have to adjust the size of my stops to avoid getting...

REAL exploitable edges are VERY VERY common. The psychological ability to exploit them is VERY VERY rare.

Megaphone formation on the daily chart. This is "reliably bearish", but we're dealing with news-based uncertainty, so the timing of the expected move down may be thrown off at these levels. http://www.camarilla.ws/Megaphone%20Top.aspx

(He has a huge short position.) (They put on massive size on the spike above 100.) :D

CL invites much larger profit targets now. IMHO, your minimum target should be 30 ticks and one-pointers aren't unusual now; if price is moving with momentum, hold for those key levels. Make hay while the sun is shining, because it's shining like crazy in CL lately. :cool: