CL Redux

[austinp]

Quote from tzachi:

In a normal tarding day (not like the ones we have for the last week or so..) what will you consider an ok/good tick accumilation per day per one car?

10-20?
20-40?
>40?

I am happy to bring home 20-40.

imo a skilled, experienced CL trader might be able to average somewhere between +1,000 cents and +1,500 cents in a 20-session month trading one (1) contract on the high side of performance.

but I'm skeptical it can be done for long periods of time... that would require peak performance without lapse.

the good news is, they let us trade more than one contract. we can trade a whole fistful if we wish. that changes the game dramatically.

now 20 cents day x 20 days = 400 cents x five CL contracts is a whole lot easier to sustain.

or ten CL contracts, for that matter

 

[bighog]

Quote from austinp:

imo a skilled, experienced CL trader might be able to average somewhere between +1,000 cents and +1,500 cents in a 20-session month trading one (1) contract on the high side of performance.

but I'm skeptical it can be done for long periods of time... that would require peak performance without lapse.

the good news is, they let us trade more than one contract. we can trade a whole fistful if we wish. that changes the game dramatically.

now 20 cents day x 20 days = 400 cents x five CL contracts is a whole lot easier to sustain.

or ten CL contracts, for that matter

HA!! Why not 200 contracts and just shoot for a nickle per contract?

Silly you are saying you do not know how to trade properly.

 

[zxd]

Quote from RichardRimes:

I notice FU candle's regularly being violated on the ES...question for you why the "full" stoch? I use the "slow" stoch ....is there much difference? Thanks

Actually I'm curious to find out more about this myself, I usually use a "fast" stoch, I've changed now to a "slow' stoch based on someone's suggestion and I use 14k 3d as the settings for it.

 

[schizo]

Quote from InvestVision:

yup , let us see if those profits can be reclaimed with this over nite 9720 LONG

Man, you're getting me worried (again). I hope this trade works out for ya but the chart ain't looking very bullish in my otherwise newbie eyes.

 

[Holey Grail]

Quote from schizo:

Man, you're getting me worried (again). I hope this trade works out for ya but the chart ain't looking very bullish in my otherwise newbie eyes.

Yeah, I'm seeing a "head and 3.5 shoulders" pattern on the 60 minute = goin' down.

 

[NoDoji]

Quote from zxd:

Actually I'm curious to find out more about this myself, I usually use a "fast" stoch, I've changed now to a "slow' stoch based on someone's suggestion and I use 14k 3d as the settings for it.

This is a vestige of my 3-min chart stock trading days. I have a USO chart in the corner of one of my screens and I reference it throughout the day for the stochastics and nothing else.

It's a full stochastic (lines for both fast and slow) , with the %D and %K @ 5 and the slowing interval @ 3.

In a strong trending move, I ignore stochs altogether, but in a channeling trend or a wide range, it's been very helpful for confirming the timing of entries and exits.

 

[austinp]

Quote from bighog:

HA!! Why not 200 contracts and just shoot for a nickle per contract?

Silly you are saying you do not know how to trade properly.

let me rephrase that: imo I'm skeptical that anyone but super-human traders such as bighog could average +1,000 to +1,500 cents per CL contract on a monthly basis over time... say a year or three straight.

that would require max effort and performance without relent straight thru without respite

in my case, I'm past the point of caring about pushing for max performance every moment of every day. there is a reason that all professional traders push contract size and not every last available cent per day.

lastly, not everyone is a superhuman, super-skilled trader. but that doesn't mean they have no hope for some measured success. easier to average +20 cents per day on five contracts than it is to average +100 cents per day on one contract

now that part there is nothing more than good ol' common cents

 

[NoDoji]

Quote from austinp:

lastly, not everyone is a superhuman, super-skilled trader. but that doesn't mean they have no hope for some measured success. easier to average +20 cents per day on five contracts than it is to average +100 cents per day on one contract

I think it depends on the psychology of the trader. I traded 5 and 6 contracts CL and consistently cut my winners short. I focused on trading 1 or 2 contracts and letting winners run to target and became very comfortable holding small size for targets. I feel that no matter what crazy news might hit the wire, my account is safe. Also, if I have 2 or 3 back-to-back losses, psychologically I feel as if all is well and I have no problem jumping on the next trade setup.

My next two goals to work on are adding to winners in a strong trend, building into a position of 4-6 contracts until the trend puts in a reversal signal, and trading breakouts of key levels with larger size.

 

[zxd]

Quote from Holey Grail:

Yeah, I'm seeing a "head and 3.5 shoulders" pattern on the 60 minute = goin' down.

I was thinking of going long for the overnight session as well, just looked at the chart and saw what you referenced, eh.

 

[InvestVision]

http://af.reuters.com/article/energyOilNews/idAFN2827362020110228?sp=true

UPDATE 1-US moves warships closer to Libya, freezes assets

* U.S. freezes $30 billion in Libyan assets

* Clinton says no military action pending

* Analysts say military strikes highly unlikely

The ships could be used for humanitarian and rescue missions, Secretary of State Hillary Clinton said in Geneva, where she told the U.N. Human Rights Council that Gaddafi was using "mercenaries and thugs" to suppress a popular uprising.

"There is not any pending military action involving U.S. naval vessels," she said after the Pentagon announced it was moving warships and air force units closer to Libya. [ID:nN28249773]



"We are moving ships closer to Libya in case they are needed," said Colonel David Lapan, a Pentagon spokesman. Aircraft were also being moved nearer, he said.



The Pentagon gave no details of the forces being moved, but its announcement was likely aimed at sending a signal to Gaddafi and his government that the United States was matching its sharper rhetoric of recent days with action.