CL is wild :-(
- Thread starter TraderSU
- Start date
Sup TraderSU.
CLX is the front month now, in one month we will trade dec.
I trade for a 5 min time frame if im trying to scale out of a winner for 10-20 ticks, then try to hold the rest for 1hour+. Profit target is usually a whole dollar, if I can get 100 ticks on a 10 or 20 lot ill usually take that in.
My stops are 10-20ticks below my entry, although that changes when im averaging in. I like to average in with a 20 tick stop below my average price.
Profit target is usually 50cents to 1 dollar. You will usually get 2 or 3 NICE setups for that kind of a move everyday. Key is to stay out of the market untill u see one of those setups.
Don't overtrade it if you are a customer too, commissions will burn you. IM paying about $5 a round turn.
CLX is the front month now, in one month we will trade dec.
I trade for a 5 min time frame if im trying to scale out of a winner for 10-20 ticks, then try to hold the rest for 1hour+. Profit target is usually a whole dollar, if I can get 100 ticks on a 10 or 20 lot ill usually take that in.
My stops are 10-20ticks below my entry, although that changes when im averaging in. I like to average in with a 20 tick stop below my average price.
Profit target is usually 50cents to 1 dollar. You will usually get 2 or 3 NICE setups for that kind of a move everyday. Key is to stay out of the market untill u see one of those setups.
Don't overtrade it if you are a customer too, commissions will burn you. IM paying about $5 a round turn.
Please read an economic calendar daily to see what news reports are being released that can affect the mkt you trade. If you do this, you will see that 10:30 most Wed's have a crude inv release.
Both weekly API and DOE reports are highly volatile and not very reliable. The good way is the 4-week average. But markets trade on the short-term news and data. So you get the ideas.
CL actually is a safe market. It has been stuck in $60 to $80 for a long time. We should see it getting somhow higher from here.
the CL is like the "Banzai Pipe" don't even get in the water if your afraid of waves 
http://en.wikipedia.org/wiki/File:Oahu_North_Shore_surfing_hand_drag.jpg
http://en.wikipedia.org/wiki/File:Oahu_North_Shore_surfing_hand_drag.jpg