CL Redux

[Picaso]

Quote from Speciaul_K:

Welcome to the nymex casino, gentlemen place your bets. There is a 5400 minium bet at this table, sir please go over to the mini table with your pissy little 2700 dollars.

IB has a special happy hour, trade CL for the price of a mini between 9:00 and 14:15. Margaritas not included

 

[mrbochin23]

Quote from Picaso:

IB has a special happy hour, trade CL for the price of a mini between 9:00 and 14:15. Margaritas not included

The Oil today literally does not have direction.

 

[Picaso]

Quote from mrbochin23:

The Oil today literally does not have direction.

Yes, but this is a coiled spring, many stops waiting to be run. I'm betting on an explosive move later in the session (which probably means you're right and this is going nowhere).

 

[Picaso]

Quote from Picaso:

Yes, but this is a coiled spring, many stops waiting to be run. I'm betting on an explosive move later in the session (which probably means you're right and this is going nowhere).

There you go...

 

[NoDoji]

Quote from Picaso:

Yes, but this is a coiled spring, many stops waiting to be run. I'm betting on an explosive move later in the session (which probably means you're right and this is going nowhere).

I had the same thought, I mentioned in my trading room "I should get my buy stop prepared now." and that was at 11:00am and I didn't place the buy stop in advance, looked away for a few minutes when CL was in the major doldrums and looked back to see that move. Always prepare the breakout orders in advance (and inside the high or low, not outside)

 

[Speciaul_K]

Quote from Speciaul_K:

Welcome to the nymex casino, gentlemen place your bets. There is a 5400 minium bet at this table, sir please go over to the mini table with your pissy little 2700 dollars.

Yea, just hit the you with a $100 bet

 

[NoDoji]

On that note, does anyone know what kind of slippage you would've gotten if a buy stop was a tick above the previous high?

 

[EON Kid]

Quote from NoDoji:

On that note, does anyone know what kind of slippage you would've gotten if a buy stop was a tick above the previous high?

.25 a fill at 7783

 

[Picaso]

Quote from NoDoji:

I had the same thought, I mentioned in my trading room "I should get my buy stop prepared now." and that was at 11:00am and I didn't place the buy stop in advance, looked away for a few minutes when CL was in the major doldrums and looked back to see that move. Always prepare the breakout orders in advance (and inside the high or low, not outside)

Actually, knowing your desk-leaving history, I was going to ask you to inform us of the exact time when you were planning to leave your desk - but didn't want to seem rude

 

[Picaso]

Quote from NoDoji:

On that note, does anyone know what kind of slippage you would've gotten if a buy stop was a tick above the previous high?

Provided it's a small one, once the market order is in, not that much (about 15 ticks?), the problem is the time between the stop and the market orders.

Also, time ago, when I did trade with (entry) stops, I had some surreal experiences with positive slippage (getting better fills than my stop price, in moves that would have hit my stop-loss). Incroyable.