CL Redux

[trader198]

long 76.9 sl 76.77

playing NG, got good profit in NG, fast and efficent. crude is hard to trade those days

 

[trader198]

out 77.08, feel better for the last short sale failure. could not belive myself, why still remeber that failure?

Quote from trader198:

long 76.9 sl 76.77

playing NG, got good profit in NG, fast and efficent. crude is hard to trade those days

 

[Speciaul_K]

Quote from trader198:

long 76.9 sl 76.77

playing NG, got good profit in NG, fast and efficent. crude is hard to trade those days

PITA from options expiration till contract expiration.

 

[Blubaru_555]

long 7700
stop 7685

 

[Blubaru_555]

Quote from Blubaru_555:

long 7700
stop 7685

stopped

 

[Blubaru_555]

CL and RB have been diverging since early this morning, shoulda been more obvious crude was going to spike down at some point.

 

[EON Kid]

Quote from Blubaru_555:

CL and RB have been diverging since early this morning, shoulda been more obvious crude was going to spike down at some point.

what is RB ?

 

[Blubaru_555]

rbob or gasoline

 

[mrbochin23]

Quote from Blubaru_555:

rbob or gasoline

I have a friend that used to work in the NYMEX, now he trades electronically, since he said is not worth the money to be in the floor. He said that most of the time, when we see a rally in gasoline, it will continue by a big rally in Oil by next day.

The other thing, we were load with bad news today, unemployment claims, rumors from Spain and the contango increased it by almost 30 cents. Having said that we hold above 76.30 (Key support) almost the whole day and we close above it. Are most likeley will have a up rally tomorrow to close the week?

 

[NoDoji]

Quote from fishing:

hi Nod,

i've been watching this topic but i've never traded ES before as I'm only interested in 'volatile' instruments. I think CL is one of them but I also never traded it. Could you elaborate on why you love it? thanks

I sim traded it for many months and settled on some strategies that work really well for me. I also did (and still do) daily bar-by-bar review to pinpoint setups I missed and determine the likely outcome had I traded them.

So I'm good at trading it because of the time I've put in. And I like how you know very quickly if you're wrong or right, no sitting through tedious chop most of the time. Also entering in the direction of momentum provides instant profit, low risk.

Finally it seems I can average $500 a day trading 1 contract, so I've plenty of room to grow into larger size.