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12-29-2011. only 1 trade so far- 10.50 am

pre market chart for 12-29-2011. Oil inventory at 10.30 am. Daily pivot range 100.41-99.86. 3 day rolling pivot range= 100.44-99.87

CL up 8.25% YTD (lol). CL moves 8% every week. I am happy day trading CL. No swing trading CL for me.

When " All the stars line up" set up. There is a reason I call mark Fisher a GENIUS. One can wait all day to short at ideal resistance zone or let failed A up set up with market internals guide the way.

One of my areas to improve for 2012 is not to trade counter trade unless some REAL VOLUME shows up taking out resistance. DXY with A up, 6e , ES, TF etc.. with A down along with negative market internals were there all day long to guide a trader. my last trade of the day was at 12.20 pm short...

Sorry for late chart and no pre market chart. In my notes, I had 102.82-103.43 as resistance and 100 as support. As usual I let OR ( opening range ) along with Volume spikes let me guide.

Hi Maverick74, Thanks for pointing out following. Your posts were giving the impression as spread trading is what newbie traders should focus on or even experienced traders will find easier to execute vs other forms of trading. "To be honest, this is a more advanced way of trading. So if...

I use 45 minutes OR. based off that OR- stop loss are typically 100 ticks or more. I do not us 100 ticks stop loss. Thats why some traders use smaller time frame OR or figure out a way to use stop loss with 10 ticks. I believe on most days CL moves in 100 ticks cycle e.g if it fails at 100 ...

For CL A= 8 C= 13. values may seem low but they work fine. 10-15 ticks stop loss. Greater stop loss than that generally mean 2 things 1) Timing is off. 2) Level identification is not good.

and they have all the MONEY, TOOLS and TALENT- and still such a lousy year. Proves to show- retail trader do have some advantages- main being they can get in and out of the market rather easily vs somebody trying to allocate $1 Billion or so and making directional bets. Day traders do not...

HAPPY HOLIDAY EVERYONE. I will be trading very limited- here and there, so no more charts till January 2012.

Not sure why majority of the hedge funds, mutual funds, money managers etc..have very little to show for 2011 if spreads etc.. were best game in town. Just thinking loud. Not saying scalping is the answer. Any form of trading is tough. If all the firms are doing it, where would retail trader...

I never said i am trading based off price reacting to itself. I am looking at how price reacts to a level, DXY, inventory report, macro news, risk on vs risk off etc.. It's tough to lay out everything on a chart while trading.

Thanks. That's why i always say agreed 100% to Mav. input. He is generous to point us to look at other options. Till, i get to next level, i have to trade and CL happens to be the instrument. Like MF says in his book, a trader need to know who he is. MF says, he knows who he is thats why he...

Long of 99.34 @ 11.45 am out 99.22 @12.17 pm. Only reason, i went long was due to the fact that we had an A up per my OR and price pulled back to OR high. Low volume , high volume, holidays, CL gives opportunities to have 100 or more ticks every day- Some days are easier to trade Vs other days...

Here is an example of Price Action from the trenches. I am not looking at chart patterns, candles shapes, Moving averages etc.. The reason I call this PRICE ACTION based trading because till the trading starts and players get in the field, I have no clue/bias etc.. as to what would happen at...

Agreed but that's just one part of it. What you are referring to is BAD news- Good price action and vice versa. There been book written about Price Action and i hope you are not implying BAD news - Good price action is all there is. If you are, then we agree to disagree.

40 to 50 ticks moves may be noise for lot of traders but this is what I want everyday - with more volume and lesser holding time. Prices moving up and down 60 ticks in a minute- i find difficult to trade. I call this trading Price Action. Sorry for Jim Cramer- the CLOWN picture. I love...

I am not sure what pure intraday trading is. To me day trading is going home flat every day and using regular session and globex session levels to trade.

Due to Globex nature of trading, the way i trade, all gaps are important for me as gaps signify some kind of change. One can take out ATR and run the analysis ( if one does not want to include globex gaps) and results should be same. When comparing futures vs each other, it makes sense to me...