CL Redux
- Thread starter schizo
- Start date
I think my stops are too close do to using a normal stop. On my 1st trade trade, I should have finished watching the candle form and/or just put a limit order at the start of the candle (this way when the market went back up a little I would have been filled) so that if my stop was going to get hit, it would have shown that the market wanted to go higher for the day.
Or I could have done what I did for my last order. Since I am using RTH charts (works better with my indicator) after 12 noon PST, the charts stop working. So while trend was down for the day we might have been forming a support. Since I could not see anything (except for the DOM), I set this order as a buy stop to get me in if the market decided it did in fact want to go up instead of guessing that we would go up. I took just a small scalp on this trade since it was late, and was not sure if we would really go much higher plus I would end up with a profit for the day. When market started going in my direction I did move the stop up a little so I would not take a big loss if it reversed.
Or I could have done what I did for my last order. Since I am using RTH charts (works better with my indicator) after 12 noon PST, the charts stop working. So while trend was down for the day we might have been forming a support. Since I could not see anything (except for the DOM), I set this order as a buy stop to get me in if the market decided it did in fact want to go up instead of guessing that we would go up. I took just a small scalp on this trade since it was late, and was not sure if we would really go much higher plus I would end up with a profit for the day. When market started going in my direction I did move the stop up a little so I would not take a big loss if it reversed.
Quote from BCE:
Glad you made some money at least. Just think how happy your broker is though.Maybe your stops are too close = getting stopped out too much. Or maybe your entries were at the top or bottom, as the case may be, of the previous bars.
It seems Brunt $2.5 up and Libyan oil TANK blow up does not bother CL market today ..
in the hindsight there are some interesting clues, I did not see this bearishness because I am Biased to 'positive' close today for the 2 reasons Brunt $2 + positive and 'Libyan oil tank issues ' as I posted
But the PA guys should have NOTICED these clues , attached is the chart
1/ it seems there are enough clues for some body who focused on price Action PA first retrace price could not break 105.20 which is the level passed by 3 hour worth of 5 min bars.
2/ on the second retrace from 104.11 , price could only reach 104.97 level , could not break 105 . this is 2 nd bearish signal on top of above one. This is one is real big BEARISH not able to break 105 by 3 ticks in the middle of the day.
Need to focus more on KEY levels ( support , resistance ) in addition to your Baises ..
- on the KEY levels front BCE done very good job of identifying them and pointing to the community in a timely manner .
thanks BCE keep up this kind of good work ..
in the hindsight there are some interesting clues, I did not see this bearishness because I am Biased to 'positive' close today for the 2 reasons Brunt $2 + positive and 'Libyan oil tank issues ' as I posted
But the PA guys should have NOTICED these clues , attached is the chart
1/ it seems there are enough clues for some body who focused on price Action PA first retrace price could not break 105.20 which is the level passed by 3 hour worth of 5 min bars.
2/ on the second retrace from 104.11 , price could only reach 104.97 level , could not break 105 . this is 2 nd bearish signal on top of above one. This is one is real big BEARISH not able to break 105 by 3 ticks in the middle of the day.
Need to focus more on KEY levels ( support , resistance ) in addition to your Baises ..
- on the KEY levels front BCE done very good job of identifying them and pointing to the community in a timely manner .
thanks BCE keep up this kind of good work ..
Its a good chart, in truth one could be short or long depending on when you want to enter since the swings are massive and you can make a profit either way although the overall direction is down. I was trying to see some correlation between ES and CL today, but really there was not one today.
Quote from InvestVision:
It seems Brunt $2.5 up and Libyan oil TANK blow up does not bother CL market today ..
in the hind sight he are some interesting things, I did not see this bearishness because I am Biased to 'positive' close today for the 2 reasons Brunt $2 + positive and 'Libyan oil tank issues '
But the PA guys should have NOTICED these one , attached is the chart
1/ it seems there are enough clues for some body who focused on price Action PA first retrace price could not break 105.20 which is the level passed by 3 hour worth of 5 min bars.
2/ on the second retrace from 104.11 , price could only reach 104.97 level , could not break 105 . this is 2 nd bearish signal on top of above one.
I puked out of my 850 UCO shares today. I was a little nervous and it seems liek this oil will indeed spike higher.. brent was up all day and it is now the leader of energy.
Net $ -3,202 for the day.
I got out of the UCO right at the top.. best I could have done ws down about 1400 yesterday... I have cost myself roughly 800 bucks from trying to hedge this biatch! I am sticking to intraday stuff. If I hold overnight it will bevery small size!!!
anyway.. here are todays Trades.
BOT 1 QM APR11 Futures 105.025 USD NYMEX 02:55:50 BookTrader 2.07
SLD 1 QM APR11 Futures 105.025 USD NYMEX 03:41:04 BookTrader 2.07 -4.14
+ BOT 850 UCO Stock 57.200 USD ARCA 07:25:25 BookTrader 4.25 -2928.63
BOT 1 WTI APR11 Futures 105.01 USD IPE 03:01:01 BookTrader 2.40
BOT 1 WTI APR11 Futures 105.04 USD IPE 03:11:16 BookTrader 2.40
SLD 1 WTI APR11 Futures 104.97 USD IPE 03:12:38 BookTrader 2.40 -59.80
SLD 1 WTI APR11 Futures 104.89 USD IPE 03:19:53 BookTrader 2.40 -139.80
BOT 1 WTI APR11 Futures 104.98 USD IPE 03:37:02 BookTrader 2.40
SLD 1 WTI APR11 Futures 105.05 USD IPE 03:39:06 BookTrader 2.40 65.20
BOT 1 WTI APR11 Futures 105.60 USD IPE 07:18:57 BookTrader 2.40
SLD 1 WTI APR11 Futures 105.47 USD IPE 07:19:55 BookTrader 2.40 -134.80
Net $ -3,202 for the day.
I got out of the UCO right at the top.. best I could have done ws down about 1400 yesterday... I have cost myself roughly 800 bucks from trying to hedge this biatch! I am sticking to intraday stuff. If I hold overnight it will bevery small size!!!
anyway.. here are todays Trades.
BOT 1 QM APR11 Futures 105.025 USD NYMEX 02:55:50 BookTrader 2.07
SLD 1 QM APR11 Futures 105.025 USD NYMEX 03:41:04 BookTrader 2.07 -4.14
+ BOT 850 UCO Stock 57.200 USD ARCA 07:25:25 BookTrader 4.25 -2928.63
BOT 1 WTI APR11 Futures 105.01 USD IPE 03:01:01 BookTrader 2.40
BOT 1 WTI APR11 Futures 105.04 USD IPE 03:11:16 BookTrader 2.40
SLD 1 WTI APR11 Futures 104.97 USD IPE 03:12:38 BookTrader 2.40 -59.80
SLD 1 WTI APR11 Futures 104.89 USD IPE 03:19:53 BookTrader 2.40 -139.80
BOT 1 WTI APR11 Futures 104.98 USD IPE 03:37:02 BookTrader 2.40
SLD 1 WTI APR11 Futures 105.05 USD IPE 03:39:06 BookTrader 2.40 65.20
BOT 1 WTI APR11 Futures 105.60 USD IPE 07:18:57 BookTrader 2.40
SLD 1 WTI APR11 Futures 105.47 USD IPE 07:19:55 BookTrader 2.40 -134.80