CL Redux

Quote from MarketAddict:

Cool.. Do you usually look at any other time frames higher than the 5 min for confirmation? Also, on friday how did you trade the market.. It consolidated then spike down and then came back up and made a wide range..
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I draw TL's on the hourly chart which automatically appear on my other charts. This keeps me from buying or selling right into one of these lines, because they tend to hold up well on the initial approach.

Friday, it was over an hour from the open before I got a signal that wasn't invalidated by my contextual filters, and then I finally just traded because I was tired of doing nothing. I was long at 10:15 ET despite the fact it was below the 20EMA because the 1-min was setting up nicely for a "hook" to test the previous R around 101.38.

Long at 10:30 for continuation

Long at 10:38 for continuation

It was then clearly not a trend because price couldn't break out, so...

Short at 10:57

Short at 11:06

Short at 11:16
 
more or less breakeven so far

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In terms of pips - from the chart - you seem to be ahead.
Are you using variable position sizing ?
I want to understand how the break-even got created.
 
Quote from smallStops:

In terms of pips - from the chart - you seem to be ahead.
Are you using variable position sizing ?
I want to understand how the break-even got created.
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-8, -11, +22
So +2 overall, which I called 'about breakeven'
 
Quote from Visaria:

who u trading with, pinkman? PM me if u don't want to discuss here.
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I've got loads of accounts all over the place! I've got UK spreadbet accounts with most of the big names, as well as an account with Mirus
 
Quote from Visaria:

Are u using spreadbet firms to scalp for 20 ticks etc? Bad mistake if so.
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Not on oil, but I do sometimes on cable and the euro. Only a 1 pip spread on the euro.

However, I tend to use the spreadbet firms for longer term trades.

My CL trades are done with mirus futures at the moment.

Not that any of that really matters unless I ever get good at this stuff!
 
Quote from NoDoji:



Does no one else do this? Am I the only one who sells when new lows are made and buys when new highs are made?
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Yep, that's pretty much all i do. Sometimes i wait for a retracement, sometimes i have a stop limit working. Depends on the momentum of the market.

I read this book this weekend, "What i learned losing a million dollars", thanks to the et poster who recommended it. Consequently, I questioned the value and motivation of posting calls (live or not). I have decided not to post any more trades.
 
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