CL Redux

Quote from jones247:

Considering that CL has been verrrrrrry choppy today, I guess the only way to avoid losses on breakout trades is to move the stops to b/e after about 4 or 5 ticks... Any suggesstions on how else to avoid being whipsawed to death with continuous small losses on breakout trades?...

thanks,

Walt
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I like breakouts coming off a defined trend. I see nothing resembling a trend today, except in pre-market leading into the NYMEX open. So no breakout opportunities that fit my criteria.
 
ND,

How did you do today? The last choppy day you had a bunch of b/e trades.......there were some 30 pointers.....61 off the bottom up, etc during the trading day.......and if you caught the maximum moves the first 1 and a half there were some possibilities......but the bots and scalpers basically battled it out for the days spoils.
 
Quote from BlueStreek:

ND,

How did you do today? The last choppy day you had a bunch of b/e trades.......there were some 30 pointers.....61 off the bottom up, etc during the trading day.......and if you caught the maximum moves the first 1 and a half there were some possibilities......but the bots and scalpers basically battled it out for the days spoils.
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CL did not fulfill my criteria for decent setups early on, dismal price action for the way I trade, so I traded 6E. Finally had a trade on CL around noon ET, b/e, then a later one near the NYMEX close, using a 1-min chart, showed me exactly 20 ticks and I grabbed 10 on the retrace before it all went away :p

I had 5 b/e trades on 6E, one nice runner, one minimum target, 1 loser, and a 10-tick scalp off a weak b/o. 6E was so much cleaner today.

It looked like bots and scalpers were all that was trading today. It was very educational to watch levels of all kinds get tested and scalped. I spent a lot of time studying this action when no strong setups were in play.
 
what the hell is 6e?

Hey all I am thinking of purchasing the lifetime license for Ninja Trader, any CL traders have experience with NT for trading CL, any things to watch out for...major complaints? thanks I read some review that said it had problems trading the cl futures contract.......thanks
 
Quote from BlueStreek:



Hey all I am thinking of purchasing the lifetime license for Ninja Trader, any CL traders have experience with NT for trading CL, any things to watch out for...major complaints? thanks I read some review that said it had problems trading the cl futures contract.......thanks
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i use NinjaTrader for chart in trading CL, no complaints so far. if you only need chart part, it's free.
 
Quote from BlueStreek:

what the hell is 6e?
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Euro futures, trade very similar to CL but on these chop/wide range bar days in CL, 6E can have cleaner moves. Also 6E has a slightly larger tick size.

Not that I judge a trading instrument solely by the size of its tick.
 
Quote from BlueStreek:

do you get better leverage than trading the eur.usd forex cross?

What are the pluses of trading the eur futures versus spot forex? just curious
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I don't know anything about forex other than you can trade it with a very tiny account.
 
Well, at least you can be a Rita Rudner stand-in if this trading thing doesn't work out... it's always good to have a backup plan...:)

Quote from NoDoji:

Euro futures, trade very similar to CL but on these chop/wide range bar days in CL, 6E can have cleaner moves. Also 6E has a slightly larger tick size.

Not that I judge a trading instrument solely by the size of its tick.
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Quote from NoDoji:

Euro futures, trade very similar to CL but on these chop/wide range bar days in CL, 6E can have cleaner moves. Also 6E has a slightly larger tick size.

Not that I judge a trading instrument solely by the size of its tick.
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you might want to take a peek at ZS package, too. The tick size is same 12.5 and it's a breakout = breakdown trader's wet dream. Or should I say fantasy? Or maybe better not say anything more?
 
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