CL Redux

Good afternoon technical wizards! Did everyone calculate their measured move target today for the 2nd leg up off lows (which was exceeded by exactly 1 tick (HOD)?

:cool:

IF there's a 3rd one, tgt 108.73, never know with CL...
 
Quote from NoDoji:

Good afternoon technical wizards! Did everyone calculate their measured move target today for the 2nd leg up off lows (which was exceeded by exactly 1 tick (HOD)?

:cool:

IF there's a 3rd one, tgt 108.73, never know with CL...
More...
Maybe we'll get 109.30 or so. :) Stay tuned.
 
Quote from NoDoji:

Good afternoon technical wizards! Did everyone calculate their measured move target today for the 2nd leg up off lows (which was exceeded by exactly 1 tick (HOD)?

:cool:

IF there's a 3rd one, tgt 108.73, never know with CL...
More...
Now I found out they call you ahead of these moves and ask, "How high should we run this?".
 
Quote from BCE:

Your broker just called. You'll be happy to know it turns out those were real trades. You evidently didn't notice you were using your real money. Congratulations. :) Did you see my recounting my SI trade in the other journal last night? http://www.elitetrader.com/vb/showthread.php?s=&postid=3462403#post3462403
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lol

Question, in real life if I had a 20 lot buy limit and a stop 5 ticks away . Is the market most likely going to try to fill my stop if it sees it there 5 ticks away with 20 lots saying , "come get me" or is this delusional thinking? I don't plan on having anything closer than 10 ticks but just asking if bots or brokers "Know" to go get that 20 lot. Say I'm fading a bottom tick like in the following image.

Edit:tried to edit image and it got deleted ...question answered regardless
 
Quote from Zr1Trader:

lol

Question, in real life if I had a 20 lot sell limit and a stop 5 ticks away . Is the market most likely going to try to fill my stop if it sees it there 5 ticks away with 20 lots saying , "come get me" or is this delusional thinking? I don't plan on having anything closer than 10 ticks but just asking if bots or brokers "Know" to go get that 20 lot. Say I'm fading a bottom tick like in the following image.

disregard the right side of image, with the fx stuff
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Brokers are not supposed to do that! And bots won't know your stops. But 5-10 ticks in CL is almost noise. With all of this high freq. trading, if you show 10-20 lots out in the book, you will get zapped most of the time.
 
Quote from chinook:

Brokers are not supposed to do that! And bots won't know your stops. But 5-10 ticks in CL is almost noise. With all of this high freq. trading, if you show 10-20 lots out in the book, you will get zapped most of the time.
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Along the lines of what I was thinking too, thanks.
 
Quote from Zr1Trader:

Along the lines of what I was thinking too, thanks.
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I generally would feel most comfortable doing 5-7 lots @ 15-20 ticks breathing room. On an intraday basis.

Been generally nothing but a 1 lot in oil live since I've traded it and I need to scale up and move to next level this year.
 
Quote from Zr1Trader:

Along the lines of what I was thinking too, thanks.
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These high freq. algorithms are running at micro second levels (maybe even better) collocated at the exchange. With 5-10 tick stops, it'll be almost impossible to beat them.
 
Interesting discussion guys. I always wondered about all that too.

Hit 108.90 obviously. 108.95 is R2 today. So it came close. The indices were pulling back a bit at the end, which they do a lot of days, when they're up for the day, in this half hour, between 2 PM EST and 2:30 PM EST. Had a feeling it would make a run at 109 and penetrate it even. Not yet though.

ADD: Calling it a trading day. Have a good night.
 
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