When trading multiple lots (not large size but, say, 10 or less), do you guys buy/sell all at once or in smaller chunks. Friday I traded 4 all in/all out, but I'm wondering if there's any advantage to entering in smaller chunks. My question pertains to the desire to get in a trade at a given price all at once (give or take a tick), not to scaling into a larger size position.
CL Redux
- Thread starter schizo
- Start date
If doing a 10lot I go for blocks of 5. Just trade what your comfortable with size wise, or just split the order into 2chunks. Sometimes I will iceberg in or out depending on if its a key level and moving some size
You could run into trouble getting filled on 10 lots, given the time of day. In the past Ive gotten partial fills on 5 lots.
These days, 3 is as much as Im willing to risk on 1 move in CL. Ideally though, Id love to scale into bigger positions and ride out the majority of the day. CL can be tricky sometimes, as you all know, V-shaped intraday action is not suprising at all.
Maybe I will save my big position intraday swing trades for the 10year or ES, and just scalp CL. I am fond of taking off some contracts bit by bit in CL though, given its volatility and fast moving nature I hate risking giving back all my profit in that market.
Just my 2 contracts...
Based on my observation from last week, I'm developing a hypothesis that (on a 5-min chart) when a green bar breaks through a previous resistance point, there will be at least 1 more green bar before price pulls back, and more often 2 more green bars. I'm now watching this carefully, both as a short fade signal, and also as a long signal off the breakout bar.
I have only 30 mins of trading time this morning before I have to leave, so I probably won't trade until later if I'm back in time. Good trading to all!