CL Redux

Quote from trader198:

you are awesome, I saw you pindowned today's Low (82.01~81.8). so accurate. the bad part is I just executed my short up to 82.57 based on your judgement, then started to pick bottom, whipsawed almost all my pre-market gain. someone is rinsing hard, that must be Goldman Sachs guys.
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Yeah, bad judgment on my part on that last trade. It flip-flopped for too long and I knew the lube was fast running out. I should have bailed out and flipped long when 82.90 held. I'll try to make it up to you next time. So sorry. :)
 
Quote from schizo:

Having had a bad hair day yesterday, I had to tear you apart. But since I'm feeling so great today, I feel I need to squeeze someone. Would you like me to pamper ya? :D
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Just wake me up at midnight, looks like all the easy trades take place in the middle of the night. I need to be trading then :cool:
 
I wish I had your patience and your nerve. actually I bought LOD (81.83) today, my initial target is the opening (82.5~82.6), but I just could not hold on, then trade with no plan, tried to catch those dusts, jump on those surge and dump on the dip.
sigh, that is the difference between a newbie and a pro.. gap gap ....


Quote from schizo:

Yeah, bad judgment on my part on that last trade. It flip-flopped for too long and I knew the lube was fast running out. I should have bailed out and flipped long when 82.90 held. I'll try to make it up to you next time. So sorry. :)
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Quote from NoDoji:

Just wake me up at midnight, looks like all the easy trades take place in the middle of the night. I need to be trading then :cool:
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Not sure if you already discussed this but are you trading on nothing but a 5 minute chart and a 20ma? Or are you using finer resolution to attempt better entry/exits?
 
Quote from ang_99:

Not sure if you already discussed this but are you trading on nothing but a 5 minute chart and a 20ma? Or are you using finer resolution to attempt better entry/exits?
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I use a 5-min chart with a 20 EMA and the 1.0 Keltners. I've been using the Keltners to gauge the momentum behind a trend and to set profit targets (at channel line overshoots), but I found that targeting the next S/R level expected to be tested in the trend works almost to the tick with CL and ES. These instruments are technically perfect, IMHO.

So I really don't need the Keltners on my charts, but they're still there nonetheless.
 
Quote from NoDoji:

I use a 5-min chart with a 20 EMA and the 1.0 Keltners. I've been using the Keltners to gauge the momentum behind a trend and to set profit targets (at channel line overshoots), but I found that targeting the next S/R level expected to be tested in the trend works almost to the tick with CL and ES. These instruments are technically perfect, IMHO.

So I really don't need the Keltners on my charts, but they're still there nonetheless.
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I see that you dropped down to the 3 min. on stocks didn't know if you did that with futs.
 
Quote from ang_99:

I see that you dropped down to the 3 min. on stocks didn't know if you did that with futs.
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I've always used a 3-min for stocks, and I have 3-min charts of ES and CL up for cross-reference. The 5-min chart filters out the 3-min chart noise, but sometimes the noise is informative to me and I get an early entry on the trade. That can work against you as well!
 
Quote from NoDoji:

I've always used a 3-min for stocks, and I have 3-min charts of ES and CL up for cross-reference. The 5-min chart filters out the 3-min chart noise, but sometimes the noise is informative to me and I get an early entry on the trade. That can work against you as well!
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I hear ya, I always FEEL like a smaller time frame gives me some sort of additional edge for precision entry but I'm not sure its helpful really over the long term.
 
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