CL Redux

Quote from NoDoji:

I don't think I could've traded better today. Is there a way to package really good trading into a small capsule one can take each morning?


Print some money!
More...


Wow girl, WTG , $1180 smokin'
 
Quote from EON Kid:

correction:

CL05 trading terminates on the 20th, changeover should be on Monday the 19th

Friday will prolly be equal volume on both
More...
It's been my experience with IB that it prefers to switch over on Fridays. What's worse, they automatically close out your trade at around noon. I once ran out to grab espresso only to find out later my trade was liquidated. So now I flip over to the forward month on Friday prior to the exp.
 
Quote from NoDoji:

I don't think I could've traded better today. Is there a way to package really good trading into a small capsule one can take each morning?

I went long a higher low, expecting price to make a higher high. I gnashed my teeth and wrung my hands instead of moving my stop and target and it paid off. Had a small loser on a head fake move. Got back in and then continued to work the trend until I really needed breakfast.

My only regrets today are trading 1 lot instead of 2, and taking a break, missing the internal double top for yet another new low, and missing the long you guys just put on.

Tax stuff awaits, if it wasn't for the last minute nothing would get done. I'm out of the office tomorrow, so no more trading for me till Monday.

Print some money!
More...


On avg how many tics are your stops? 2,3,4,5,6?? Or is it all over the place based on entry/target? Is there an avg? Also, are you moving your stops to break even once trade moves your way?

I see on your first trade it looks like it went against you 9 or 10 ticks.

thx
 
Quote from schizo:

Heading to a repeat of 2007 as in $145/bbl? I doubt it. First of all, World governments will not stand for it since they are solely responsible for artificially propping up the economy.

At any rate, I can only speak from a technical point of view, which indicates that there ain't a whole lot of room left to the upside. Well, for me anyway. But then again, take everything I say with a grain of salt.

On that note, I say $90 is the highest this baby will go.
More...
Im looking for 8880 next week. If it gets above im there with you on the 9000 call
 
Quote from ChkitOut:

On avg how many tics are your stops? 2,3,4,5,6?? Or is it all over the place based on entry/target? Is there an avg? Also, are you moving your stops to break even once trade moves your way?

thx
More...

My stop vary from 4 ticks to as much as 20 (that's my limit at this point). I scribble notes when I trade, so let's see if I can decipher them. (I used a 3-min chart today because I initially planned to do a lot of scalping.)

First trade today was uncomfortable no doubt. I got in because buyers came in at higher low and the longer term trend was up. I didn't want to place a stop at the previous pivot low because 23 ticks was too much and would've signaled a serious breakdown and possibly dangerous slippage. I didn't want my stop below my entry bar, because of all the little head fakes that occur. So I compromised and placed it at 85.61 (14 ticks, lower Keltner). I thought for sure I was going down when price backed up to 85.66, bobbled and dropped again. I really sweated this trade and was down on myself for not taking profits (but my goal was to allow the trade to work and not get so jumpy). Then when it finally broke that previous resistance level, I was like, "Yeah, you are so good!" Looking at the chart now after the fact, I feel it was a lukewarm setup that could've gone either way easily and would likely not trade a setup like that again.

Second trade, sellers came in leaving a lower high after the HOD was put in, and I placed a 9-tick stop at the previous bar's high (86.14), for some reason lifted at .13.

Third trade I felt very good about, another lower high so no longer felt like a counter-trender, placed 8-tick stop at the high of entry bar, and initial target @ 85.85, but it was really weak so I moved my target down and was rewarded for that.

Then I simply traded with the down trend, entering when price bumped against the falling 20-bar EMA and pulled back, stop above the pivot high. So the stop on fourth trade was 8 ticks, and on the last trade 4 ticks, because I was really in the zone at that point and anticipated well.

In a down trend I expected a lower low on each new push down, so I targeted a few ticks above the next support level to be tested. So fourth trade, next support level to be tested was 85.52 and I targeted 85.55, on the last trade, next support level was 85.41 and I targeted 85.43.

I just think today was especially clean and the technicals held up very well. I was glad to have taken advantage of that.

I very often move my stop to b/e right away if I'm counter-trend trading, but my challenge to myself today was to trust my targets, and only move the stop quickly if I counter-trend traded without confirmation.
 
Quote from NoDoji:

My stop vary from 4 ticks to as much as 20 (that's my limit at this point). I scribble notes when I trade, so let's see if I can decipher them. (I used a 3-min chart today because I initially planned to do a lot of scalping.)

First trade today was uncomfortable no doubt. I got in because buyers came in at higher low and the longer term trend was up. I didn't want to place a stop at the previous pivot low because 23 ticks was too much and would've signaled a serious breakdown and possibly dangerous slippage. I didn't want my stop below my entry bar, because of all the little head fakes that occur. So I compromised and placed it at 85.61 (14 ticks, lower Keltner). I thought for sure I was going down when price backed up to 85.66, bobbled and dropped again. I really sweated this trade and was down on myself for not taking profits (but my goal was to allow the trade to work and not get so jumpy). Then when it finally broke that previous resistance level, I was like, "Yeah, you are so good!" Looking at the chart now after the fact, I feel it was a lukewarm setup that could've gone either way easily and would likely not trade a setup like that again.

Second trade, sellers came in leaving a lower high after the HOD was put in, and I placed a 9-tick stop at the previous bar's high (86.14), for some reason lifted at .13.

Third trade I felt very good about, another lower high so no longer felt like a counter-trender, placed 8-tick stop at the high of entry bar, and initial target @ 85.85, but it was really weak so I moved my target down and was rewarded for that.

Then I simply traded with the down trend, entering when price bumped against the falling 20-bar EMA and pulled back, stop above the pivot high. So the stop on fourth trade was 8 ticks, and on the last trade 4 ticks, because I was really in the zone at that point and anticipated well.

In a down trend I expected a lower low on each new push down, so I targeted a few ticks above the next support level to be tested. So fourth trade, next support level to be tested was 85.52 and I targeted 85.55, on the last trade, next support level was 85.41 and I targeted 85.43.

I just think today was especially clean and the technicals held up very well. I was glad to have taken advantage of that.

I very often move my stop to b/e right away if I'm counter-trend trading, but my challenge to myself today was to trust my targets, and only move the stop quickly if I counter-trend traded without confirmation.
More...

Thanks a lot, you seem to have an amazing ability to hang on for maximum profit in a market that all to often takes it away when you go for more.
 
Quote from ChkitOut:

Thanks a lot, you seem to have an amazing ability to hang on for maximum profit in a market that all to often takes it away when you go for more.
More...

Today CL was very well-behaved. Most days it's not as clean as today. I remember netting $13,167 in my sim account one day trading 5 lots CL on an all-day uptrend, buying every dip to the 20-bar EMA. I just kept on re-entering on the dip and selling 20 ticks or so above the last high. It was surreal. Very similar to my last 3 trades today where by the last trade I felt like I was actually moving the price with my mind, ha ha.

I can't emphasize enough that when you're trading with the trend, or wait for the first confirmed reversal signal before countering, CL will generally give you what you expect. If you're counter-trend trading or trying to pick a top/bottom, you better take whatever shows, or it will be pulled away quickly. Those are NOT the trades to leave your initial stop in place on.
 
I saw clean technical setup around 6:0am (85.3ish), that is wesnday's breakup point, then the overnight resistance around 85.85~86, then the thrust down. I just could not hang on and have the nerve to do it. from the opening, I saw mess. until saw the 85.3ish support, others I did not see anything.
I saw clean technical trend on natural gas after the report, shorted in the first bounce (4.137, the right strategy, but did not hang on, then saw 4.060 breakdown point




Quote from NoDoji:

Today CL was very well-behaved. Most days it's not as clean as today. I remember netting $13,167 in my sim account one day trading 5 lots CL on an all-day uptrend, buying every dip to the 20-bar EMA. I just kept on re-entering on the dip and selling 20 ticks or so above the last high. It was surreal. Very similar to my last 3 trades today where by the last trade I felt like I was actually moving the price with my mind, ha ha.

I can't emphasize enough that when you're trading with the trend, or wait for the first confirmed reversal signal before countering, CL will generally give you what you expect. If you're counter-trend trading or trying to pick a top/bottom, you better take whatever shows, or it will be pulled away quickly. Those are NOT the trades to leave your initial stop in place on.
More...
 
You must log in or register to reply here.
Back
Top