CL Redux
- Thread starter schizo
- Start date
hmm, quite impressive how 74.32 VAH from yesterday is serving as good resistance. Chart support low at 73.67 (QM)
I've been using this strategy for a month now, and didn't want to share it until a I had a little confidence, the rule said base on market profile if it goes out of the Value Area of the day before and goes in wait until the 30 min bar close inside and in the next one wait for an entry in that extreme of the Value Are in direction to the opposite side, the stats said that this work 80% of the time. So far for me has work 3 out 4, I am not including today since it hasn't reach the opposite side which is 72.29 (VAL), although, this morning it got in in the VAL and I should it take the trade long, but I was scare with the energy report.
good luck to all, BTW I am out at 73.90 +.42 my first profit of the week.
Thank you for sharing. I know very little about MP. Is it a add on tool that you use with your trading platform?
Linda Raschke giving a webinar on TOS today at 3:20 Chicago time.
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http://38.98.140.164:8000/thinkorswimlive
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New guy here, so go easy on me!
I was looking at different futures markets to daytrade, and CL seems to have a lot of potential along with ES and TF. I would look for "big scalp/small swing" profits (1-3 ES/TF points, 0.1-0.3 CL points) per successful trade.
What is CL like in terms of:
1. Slippage/Liquidity? Looks like decent volume, but bid/offer can get as high as 0.03 points. Also, do you get shafted by the locals on stop orders/fills? I heard that the NYMEX can get pretty rough compared to Globex or ICE. Trade size would be up to 10 contracts at a time.
2. Choppiness? The 1 and 5 minute charts look fairly tradeable, based on price action. Is that the case, or are there lots of quick reversals/false signals, etc., compared to stock indicies?
I was looking at different futures markets to daytrade, and CL seems to have a lot of potential along with ES and TF. I would look for "big scalp/small swing" profits (1-3 ES/TF points, 0.1-0.3 CL points) per successful trade.
What is CL like in terms of:
1. Slippage/Liquidity? Looks like decent volume, but bid/offer can get as high as 0.03 points. Also, do you get shafted by the locals on stop orders/fills? I heard that the NYMEX can get pretty rough compared to Globex or ICE. Trade size would be up to 10 contracts at a time.
2. Choppiness? The 1 and 5 minute charts look fairly tradeable, based on price action. Is that the case, or are there lots of quick reversals/false signals, etc., compared to stock indicies?
If you all of you want I could prepare a tutorial or webinar ( no cost) for the ones that are here in this thread constantly, since everyone here has help me in one way or another.
I wouldn't mind doing it, but I have organize my self first during this month of September, that's my goal
Quote from mrbochin23:
If you all of you want I could prepare a tutorial or webinar ( no cost) for the ones that are here in this thread constantly, since everyone here has help me in one way or another.
I wouldn't mind doing it, but I have organize my self first during this month of September, that's my goal
That would be great thanks.
My trading platform tradestation unfortunatly doesnot offer MP. but MP seems to go quite well with price action trading which I am learning. thanks.