Heard of CL for a long time, decided to give it a try today

asd123 · Sep 25, 2009

Ah CL, she's a tough mistress. She wounded me many times when I was getting to know her. But when she's in heat, the loving is so sweet.

On a different note, if you want to meet CL's equity-index-half-sister try looking at FDAX and to a lesser extent TF. Look but don't touch. BTW, you should probably look at QM for longer time frames, but if you're scalping with tight stops CL is the way to go. Good luck.

rock34748 · Sep 25, 2009

Quote from the1:

C'mon Papa. We all started somewhere right? We've all gotten in over our heads at one point. I remember a ways back I put a 10 lot on the ER2 (now the TF) without checking any specs on the instrument. I nearly passed out when it started to move (naturally against me). Stupid is as stupid does. We all go through the same learning curve.

amen neo. and funny how true that 3 tick relief winner seemed to everyone. sounds like most have been there. And wow to the 10 lot TF, I'd toss my cookies.

brownsfan019 · Sep 26, 2009

Quote from BPtrader:

You sound like a newbie. You actually registered in 2005?

Those who question my trading time are clearly clueless of trading.

I don't know what kind of thoughts you may harbor about trading, I don't know what kind of trading you are doing, but if you are puzzled by my trading time, you are simply ignorant!

Yes, my trading behavior was wrong, I have already admitted it in my OP. Yes, I violated my rules in every single trade, I am not proud of it. I am fully aware of my bad habit, I got it from trading ES.

You know how easy it is to trade ES? Once you figure out the trend, you can simply enter and wait for money to come to you. ES is based on 500 companies, not a single buying/selling instrument like CL.

CL is totally different. When this animal reverses on you, it really reverses, it does it hard and long, it hurts you, hurts you bad.

I am glad I traded CL, it fully exposed my bad habit. I am now ready to get rid of my bad habit coming from trading ES.

Too funny.

So a guy that has no idea what freakin contract to trade is going to then claim that others are noobs?

so I typed CL, got November and December choices.

Which one?

I have no clue.

Really?

Then...

shorted at about the bottom of that drop
But I got lucky, second wave of selling saved me,

Sounds like a solid plan to me - sell bottoms and then pray you can get out of your position 3 ticks after being negative at least 22 ticks.

Those numbers should work for you over time.

And it gets better...

I was shorting all day and lost big money on a day the oil price dropped like a rock. Totally wrong.

But you got it under control. Good luck. At this point that's all you got on your side.

wpfund · Sep 26, 2009

Hmm, the "bptrader" moniker gives the impression that the op is/was an energy trader at bp (the oil company). Or, at least, is aware of the dynamics of the energy market...

brownsfan019 · Sep 26, 2009

Quote from wpfund:

Hmm, the "bptrader" moniker gives the impression that the op is/was an energy trader at bp (the oil company). Or, at least, is aware of the dynamics of the energy market...

One might think so but as evidenced by this person's posts, they have NO CLUE about trading in these markets.

heavyhitter78 · Sep 26, 2009

I have been trading CL for years, and have been profitable trading it and I have to say that it is a bitch. It`s not for the faint of heart, but if you feel the need to trade crude like most have said here trade the mini`s first.

One piece of advice I would give is to stay away from NG.

CL is like a kids karate class, while NG is MMA.

Good luck, your gonna need it.

BPtrader · Sep 28, 2009

Quote from brownsfan019:

Sounds like a solid plan to me - sell bottoms......

If you think I know where the bottom is, I am a genius.

If you think I sell the bottom, I am an idiot.

How can you put a genius and an idiot together? You must be confused.

BPtrader · Sep 28, 2009

Quote from heavyhitter78:

I have been trading CL for years, and have been profitable trading it and I have to say that it is a bitch. It`s not for the faint of heart, but if you feel the need to trade crude like most have said here trade the mini`s first.

One piece of advice I would give is to stay away from NG.

CL is like a kids karate class, while NG is MMA.

Good luck, your gonna need it.

Thanks for the advice.

But I have to decline your "Good luck." There is no place for luck.

enochbenjamin · Sep 28, 2009

I got a good chuckle out of this one as I traded oil my first week of trading. Read some books on trendlines - set em up and bought the first upside break i saw. In abut 30 seconds I was up about 6 grand (can't remember the exact amount).

The exhiliration I felt was unbeleivable - this trading shit is easy - I called my wife and told her we gonna be rich baby!

Later that day I was watching the news and realized I had entered the trade literally seconds before Nigerian rebels attacked a Shell refinery. Can you spell L.U.C.K.Y.

Well the story does not have a "Beverly Hillbillies" ending. The next three days of oil trading liquidated my account (close to 25k). This was before I knew what a stop loss was. I was trading with no stop and trying to play a video game with the cover button. I was too slow and had to go back to "trading for real life dummies" (you won't find this in any bookstore - you must attend the University of Hard Knocks).

Me don't mess with OIL NO MO!

I don't want to insult you with a wish of luck - so be safe and protect your capital (at least I learned 1 lesson).

BPtrader · Sep 28, 2009

Quote from enochbenjamin:

I got a good chuckle out of this one as I traded oil my first week of trading. Read some books on trendlines - set em up and bought the first upside break i saw. In abut 30 seconds I was up about 6 grand (can't remember the exact amount).

The exhiliration I felt was unbeleivable - this trading shit is easy - I called my wife and told her we gonna be rich baby!

Later that day I was watching the news and realized I had entered the trade literally seconds before Nigerian rebels attacked a Shell refinery. Can you spell L.U.C.K.Y.

Well the story does not have a "Beverly Hillbillies" ending. The next three days of oil trading liquidated my account (close to 25k). This was before I knew what a stop loss was. I was trading with no stop and trying to play a video game with the cover button. I was too slow and had to go back to "trading for real life dummies" (you won't find this in any bookstore - you must attend the University of Hard Knocks).

Me don't mess with OIL NO MO!

I don't want to insult you with a wish of luck - so be safe and protect your capital (at least I learned 1 lesson).

My condolences to you for your losses, but take a minute to enjoy the stories of bigger losses of airline companies, I guess they are the dumbest oil traders. You should jump back in and take money from them.

http://www.tradingmarkets.com/.site/news/Stock News/2201051/