This is strictly from my own experience: I've found that as a day trader using a 5-min chart, it's better for me not to know news and fundamentals. If I see news that is bearish, it keeps me out of excellent long trades and vice versa.
As for large traders manipulating price, I believe that's much of the reason CL tends to run farther in a given trajectory than a highly liquid and efficient trading instrument like ES. I want to learn to take advantage of those price runs, whether it's by trading breakouts of support and resistance levels, or positioning myself early to catch such breakouts, because at least one of them a day is a big runner.
I rarely see a big rogue move come out of "nowhere". In other words, I rarely see such moves break in the opposite direction of the prevailing trend.
For example, the upside breakouts early today all came as part of an uptrending move.
Once the steep micro trend-line was broken with the 11:15am ET bar, the break down was a pretty clean 40+ ticks. In other words, the drop didn't come out of nowhere; it came from a trend-line break following a failure to break through yesterday's resistance.
Later a lower high was put in around noon ET and then a shallower, longer term trend-line was broken by the 12:23pm ET bar (this was one of my trades today).
The point here is that by now you should either be positioning yourself short, or prepared to close out your long positions on a break of 77.39.
If you are positioned with the short term intraday trend, you will rarely get zapped by the kind of move that followed the break of 77.39.
Although you may have no idea whether it's technicals, news or big trader manipulation that causes a crazy move like that, you don't really have to know as long as you stayed position with the prevailing trend.
(In case you're wondering, though, the actual reason for the large price drop was the fact that I had to leave at 12:45pm ET and so had just covered my short position a few minutes before that.)
As for large traders manipulating price, I believe that's much of the reason CL tends to run farther in a given trajectory than a highly liquid and efficient trading instrument like ES. I want to learn to take advantage of those price runs, whether it's by trading breakouts of support and resistance levels, or positioning myself early to catch such breakouts, because at least one of them a day is a big runner.
I rarely see a big rogue move come out of "nowhere". In other words, I rarely see such moves break in the opposite direction of the prevailing trend.
For example, the upside breakouts early today all came as part of an uptrending move.
Once the steep micro trend-line was broken with the 11:15am ET bar, the break down was a pretty clean 40+ ticks. In other words, the drop didn't come out of nowhere; it came from a trend-line break following a failure to break through yesterday's resistance.
Later a lower high was put in around noon ET and then a shallower, longer term trend-line was broken by the 12:23pm ET bar (this was one of my trades today).
The point here is that by now you should either be positioning yourself short, or prepared to close out your long positions on a break of 77.39.
If you are positioned with the short term intraday trend, you will rarely get zapped by the kind of move that followed the break of 77.39.
Although you may have no idea whether it's technicals, news or big trader manipulation that causes a crazy move like that, you don't really have to know as long as you stayed position with the prevailing trend.
(In case you're wondering, though, the actual reason for the large price drop was the fact that I had to leave at 12:45pm ET and so had just covered my short position a few minutes before that.)
for cashing in - again - between his golf and his video-games and to the RQPA NoDoji for consistently churning money out of this market no matter what it does]