CL Redux

[NoDoji]

Quote from jas_in_hbca:

So your target exit is not a placed order ? You're manually exiting ?

What about when price runs +20 then quickly retraces never to see + 20 again. (as happens to me too often)

Or perhaps your minimum is less than 20 ?

TIA

Often I use a fixed target (limit order) placed in advance if a reasonable technical level is around that price. But in a well-defined trending move, I generally watch the reaction and decide to hold for more or lock in 20 ticks. The earlier long trade from .54, I watched price break the HOD and it was a weak breakout close to a channel line, so I locked in 20 ticks.

Sometimes I give back all or most of a 20-tick move by not using a hard target, part of the scalping game.

Also, there are times of day when I specifically target 10-15 ticks, knowing that's all to be expected.

 

[kingjelly]

Quote from NoDoji:

Here's a 1-min chart of the long setup. The upper line is the 60-min upper channel line and the lower line is the 5-min upper trend line drawn across the 9:30 and 10:20 highs (ET). These lines automatically transfer to all three of the time frames I use (5-min main, 60-min for key levels, 1-min for entries).


Do you just keep 1 chart up and switch the time frame to 1 min when it gets close to a key level, or keep both up all the time?

 

[NoDoji]

Quote from kingjelly:

Quote from NoDoji:

Do you just keep 1 chart up and switch the time frame to 1 min when it gets close to a key level, or keep both up all the time?

Both all the time.

 

[FortuneTeller]

Quote from NoDoji:

Here's a 1-min chart of the long setup. The upper line is the 60-min upper channel line and the lower line is the 5-min upper trend line drawn across the 9:30 and 10:20 highs (ET). These lines automatically transfer to all three of the time frames I use (5-min main, 60-min for key levels, 1-min for entries).

You don't know how much I miss QT for being able to draw trend lines across all the charts. I wish Ninja could do that.

 

[NoDoji]

Quote from FortuneTeller:

You don't know how much I miss QT for being able to draw trend lines across all the charts. I wish Ninja could do that.

I thought that was a pretty basic feature of any charting package; you sure Ninja can't do that??

 

[FortuneTeller]

Quote from NoDoji:

I thought that was a pretty basic feature of any charting package; you sure Ninja can't do that??

Yes, I am pretty sure NT can't do that. I don't even remember TradeStation being able to do that. QT was/is one of a kind.

 

[jas_in_hbca]

Quote from FortuneTeller:

You don't know how much I miss QT for being able to draw trend lines across all the charts. I wish Ninja could do that.

Right click on the TL , click properties, "Under Attach to" change to "all charts"

That do what you're looking for ?

 

[macattack]

Let me know if you get this to work for NinjaTrader. I gave up trying to figure it out. It "will" draw the trendline on all charts, but it will not be in the correct location on the other charts.

I posted to their forum once trying to figure it out, but I never got a solution.

Horizontal lines work fine.

 

[FortuneTeller]

Quote from jas_in_hbca:

Right click on the TL , click properties, "Under Attach to" change to "all charts"

That do what you're looking for ?

I've been using NT for years and didn't know it would do that. But Macattack is right. For trend lines they do not line up. Horizontal lines do line up though and that is a big help. Thanks!

 

[roreilly]

EIA Oil Inventories due at 11 a.m. ET

API on Tuesday showed a surprise rise in crude inventories of 500k barrels.

I haven't been able to locate what the street expects.