it's now +130 points (+3400 euro per contract) in profit and it's still open.my stop loss is a little higher on high of pullback, so i expect to have at least near +100 points if market reverse.
My Trend Following System
- Thread starter Commodity_Trader
- Start date
it seems i should tighten my stop
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Today trade on CL (crude oil ) ,this is a 1 hour chart however actual entries and exit were took place in M5 time frame.results: +24 points or +240 $ per contract for me. however my system usually looks for trends with at least +100 points in GC & CL in M5 timeframe.
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Again one more profitable trade on ES (emini s&p) . i closed this position just right now.
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i'm thinking of trading 2 contracts instead of 1 maybe in near future . but i wanna stick to my rules.i think if i concentrate only on GC & CL i would have a better performance . ES is liquid but it's volatility is not as much as GC & CL.
at the moment , i have a long position on CL(crude oil) and i should wait to see what happens.it's already on profit .my aim is at least +70 points profit.if Cl will be unable to reach that target i will close t by few ticks profit.this is live screenshot of my trading platform.let the profits run is the hardest part of trading because it's like swimming against flows of emotions.
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i closed this position with +52 points profit on CL (+520 $ per contract ).i expected at least +70 points, because it had a sudden move i closed it exactly on it's climax , if it was a mildly trending condition i would trail stops.i'm happy that i have "CONSISTENCY"
PS : i really dont care about people who think i plot these buy and sell markups intentionaly ,you can check my recent posts times .they are plotted by Ninjatrader and reveals my actual entry and exits.
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I don't think that trend is actually all that well-defined in classical technical analysis (TA), other than being the general direction of a stock, etc.
Trend is actually a rather ambiguous concept (in math, TA, or otherwise), and depends on additional information. Intuitively, I think everyone can agree that trend is quite simply a function with monotone variations. A mathematical definition that captures this is another story. The best definition that I have come across is that the trend in a signal is the contribution to it that is slowly varying in comparison to its fluctuations. In this case, the trend can be calculated by filtering out the high-frequency intrinsic mode functions.
As far as i know trend in T.A is defined like this : a price movement with higher highs and higher lows (and each trend has 4-6 pullbacks in it).your definition is correct too .but this definition is clear enough and it can be occur in m1, m5 ,hourly or monthly time frames.if it's ambiguous concept ,above definitions has any conflict with reality ?
i wait for a long signal on CL.