CL Redux

mfbreakout said:
Posting after a long time and following No Doji analysis of DOE days. Thankfully nothing have changed and hope fully will never change as far as RULES of day trading goes. What have changed

for me over last 2 years ( last time i posted at Elite) is to get away from tight stop loss and use 100 ticks diaster stop loss.

Trades from today and yesterday. Basically, i trade ADR ( Average Daily Range) with 100 ticks disaster stop loss and i am reversion to the mean type of trader.
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You use ADR, not ATR, correct? Is your ADR an exponential mean like ATR? How many days do you use to calculate ADR?
 
Visaria said:
You use ADR, not ATR, correct? Is your ADR an exponential mean like ATR? How many days do you use to calculate ADR?
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Hi Visaria,

I used to wonder after reading your posts as to how can one trade with 100-150 ticks

stop loss. Your posts started me thinking and eventually i realized the importance of

avoiding NOISE, So, thanks for bringing importance of wide stop loss to other traders

sttention.


ADR/ATR is same for me. About 70% of trading days ADR/ATR is around 160 ticks

for CL. All it means, if CL had already ran 160 ticks without me , i will be careful with initiating new longs and vice versa ( provided there are no macro events like war in middle east etc).

It's just based off observation since for 3 years i traded nothing but CL.
 
mfbreakout said:
Hi Visaria,

I used to wonder after reading your posts as to how can one trade with 100-150 ticks

stop loss. Your posts started me thinking and eventually i realized the importance of

avoiding NOISE, So, thanks for bringing importance of wide stop loss to other traders

sttention.

.
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:cool:

Don't forget though that one man's noise is another man's (or girl's*) signal :D

*refer's to NoDoji's somewhat tighter stops
 
mfbreakout said:
ADR/ATR is same for me. About 70% of trading days ADR/ATR is around 160 ticks

for CL. All it means, if CL had already ran 160 ticks without me , i will be careful with initiating new longs and vice versa ( provided there are no macro events like war in middle east etc).

It's just based off observation since for 3 years i traded nothing but CL.
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Do you not then calculate this every day?
 
Visaria said:
:cool:

Don't forget though that one man's noise is another man's (or girl's*) signal :D

*refer's to NoDoji's somewhat tighter stops
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I am a big fan of No Doji especially how she handles and has handled in the past

certain kind of losers attacking her or anyone else who shows sucsess.

100 ticks stop loss does not mean that i just sit back and let my position run against

me 100 ticks. I will reduce position size, add to short into bounces etc provided there

is no sign of REAL buyers if i am short.

I do not have skill set to say short 104.08 with 20 ticks stop loss.

There is always a danger of THIRD FORCE showing up in the market. If that happens

i just hit market order and get out.
 
mfbreakout said:
I do not have skill set to say short 104.08 with 20 ticks stop loss.

There is always a danger of THIRD FORCE showing up in the market. If that happens

i just hit market order and get out.
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Funny you use that example, because my opening trades today were three shorts at 104.08, the last of which finally broke out of the range and produced what turned out to be my only productive trade. My stop loss was very small :)

I'm not sure I'll be able to sleep tonight if you don't elaborate on this mysterious "THIRD FORCE" :eek::eek::eek:
 
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