CL Redux

Quote from macattack:

Is CL a lot easier to trade than other markets?

Everytime I read this thread you guys seem to be raking in pretty good profits, but in other threads people seem to be struggling much more often.

If it's easier to trade what makes it that way?
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DonCorleone Registered: Nov 2001, not many noobs here except for me.

no market has a static edge, otherwise it would be exploited by the big players. You have to know enough to know how to adapt to the unfolding scenario. It is not easier to trade but the price action may be more suited to your method. l8r
 
easier? not necessarily. CL suits my trading style and has nice volatility almost every day. I was trading equities until middle of last year. I got sick of algo bots grinding my entries/exits so I decided to try to futures, specifically CL. it's taken me almost a year to get the hang of it. and trust me, it took some tuition money to get to this point.

but once you finally climb over that hump it's nice b/c you don't have to chase individual stocks to trade. you just gotta have patience for setups to develop and not chase. let it come to you while you build a trap for it.
 
Quote from DonCorleone:

here's a setup i often try to use.

http://www.elitetrader.com/vb/showthread.php?s=&threadid=223293

there were at least two setups like this today in CL. low risk, high payoff probability.
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I read that thread, but don't have a clue what that guy is talking about. I really liked "The Whipsaw Song" by Ed Seykota though that somebody posted from youtube.

So anyway back to CL. I used to trade NQ, but something about CL seems easier to me. It seems like the risk/reward is far better with CL, but maybe it's just my imagination.

You can find 3:1 reward vs risk trades all day long in CL (not to mention 5:1 or 10:1); I don't rememeber so many opportunities like that in NQ. (maybe now there is since it's so volatile; haven't watched it lately).
 
Boy the sellers are hitting this hard... but the buyers have, so far, responded every time... passive buyers mostly though.

We're at this week's VWAP, perhaps buyers smell a deal and that's their motive for holding this so steadily so far. I have been long .80 since 8:00 or so, after being short and reversing. If the buyers hold, looking for a move up to .50
 
Out .22 on this guys... vwap and PP may provide too much motivation for sellers here.. +42 on this

I have to leave at 9:30am ET for the day unfortunately, so this is probably my only trade of the day... good luck and good trading everyone!
 
10:30am DOE Crude Inventories est. -500K range -2500K to 2000K prior -2213K

DOE Distillate Inventory est. 500K range -1600K to 1750K prior 1731K

DOE Gas Inventories est. -950K range -2700K to 1500K prior 1355K

DOE Refinery Utilization est. -0.5% range -1.0% to 1.0% prior 1.2%
 
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