CL Redux
- Thread starter schizo
- Start date
out .22
2 trades today. I went long on ES at around 1328. The problem with this trade was that I may have chased just a bit and/or did not move my stop to BE once I was almost to target. I got stopped out after missing target by .25.
2nd trade was a long on CL. I decided since my long on Friday while it was profitable, I could have made more money after getting in at a perfect spot, I would not make the same mistake. I gave the trade room to run, and made double the profit of the loss on ES. I did not move stops or targets once in the trade, and played a video game so I would not have to watch the market once I was in the trade.
So 50% win ratio today, but still ended up profitable so feeling good. I have decided my win ratio is around 50% - 60%, so I need to sometimes have a better reward than risk to succeed and not to over trade. I have decided to not trade anymore today.
2nd trade was a long on CL. I decided since my long on Friday while it was profitable, I could have made more money after getting in at a perfect spot, I would not make the same mistake. I gave the trade room to run, and made double the profit of the loss on ES. I did not move stops or targets once in the trade, and played a video game so I would not have to watch the market once I was in the trade.
So 50% win ratio today, but still ended up profitable so feeling good. I have decided my win ratio is around 50% - 60%, so I need to sometimes have a better reward than risk to succeed and not to over trade. I have decided to not trade anymore today.
good info on Brent , may be WTI long/brent short spread should be good for day close
what is the symbol for Brent COIL ??
what is the symbol for Brent COIL ??
Quote from Daxspreader:
Im shorting Brent @ 120.70 with a ticght stop (new high ) @ 120.80
Cant believe what im seeing
Quote from Daxspreader:
Im shorting Brent @ 120.70 with a ticght stop (new high ) @ 120.80
Cant believe what im seeing
pulled my stop! Buy WTI @ 108.08
Now have the spread overnight @ -12.62
(Long WTI @ 108.09 / Short Brent @ 120.70)
long .06
out .52 , quick one
Thanks to DAX tip on Brent which made the case for 108.0 support at pit close .. , seems we need to pay little more attention to Brent ..
Thanks to DAX tip on Brent which made the case for 108.0 support at pit close .. , seems we need to pay little more attention to Brent ..
one thing I noticed is once the spread established by mid day between these two , it is not changing much towards pit close which repeated today .
while WTI poping up to 50 ticks towards pit close, Brent has 3 paths
- stay at 120.75 level
- drop below that level ( spread will gain with this and above case , but I did not see success with spead TRADES initiated toward pit close , again limited observation )
- go high with WTI ( it chose this path )
one reasoing I did was this $2 + Brent will provide support for WTI 108 + on close basis ..
This is one good learing lesson case for crude pit close. WTI close has dependencies on Brent , RBOB gasoline , Currencies prices of the day which make it so complex to predict the CL close. Lots of time we foucs on just one thing that is CL price action and trying to reason why it did/didn't break at that BAR
mine are few observations, obviously you had very detailed focus on these spreads on daily basis .
Thanks for calling it out which helped community ...
while WTI poping up to 50 ticks towards pit close, Brent has 3 paths
- stay at 120.75 level
- drop below that level ( spread will gain with this and above case , but I did not see success with spead TRADES initiated toward pit close , again limited observation )
- go high with WTI ( it chose this path )
one reasoing I did was this $2 + Brent will provide support for WTI 108 + on close basis ..
This is one good learing lesson case for crude pit close. WTI close has dependencies on Brent , RBOB gasoline , Currencies prices of the day which make it so complex to predict the CL close. Lots of time we foucs on just one thing that is CL price action and trying to reason why it did/didn't break at that BAR
mine are few observations, obviously you had very detailed focus on these spreads on daily basis .
Thanks for calling it out which helped community ...
Quote from Daxspreader:
Im shorting Brent @ 120.70 with a ticght stop (new high ) @ 120.80
Cant believe what im seeing
I was short WTI @ 108.30, but when I saw that Brent was making new highs and kept pushing - I knew there was no point in being short.
Still managed to make a profit (which is unbelievable) but todays trading clearly showed that WTI was weak, and it was the brent that stopped it from selling off.
Maybe the big boys/pit traders were putting on spread ie. long brent/short WTI??
Either way - its worth having a Brent chart up in the corner these days! Obvisouly if i see anything interesting ill post it here as well.
Still managed to make a profit (which is unbelievable) but todays trading clearly showed that WTI was weak, and it was the brent that stopped it from selling off.
Maybe the big boys/pit traders were putting on spread ie. long brent/short WTI??
Either way - its worth having a Brent chart up in the corner these days! Obvisouly if i see anything interesting ill post it here as well.