SHORT oil @$125.55 and up

nkhoi · May 27, 2008

Quote from 5Pillars:

..I had excellent accordion action on Friday and again today..

how much is required in order to play 'excellent accordion ' like you?

5Pillars · May 27, 2008

I would say at least 500K to 700K for a very small scale start up - ER2, DAX, ES are good instruments to start off with. For CL I would say 1 million is the very minimum to start small and build up over time.

nkhoi · May 27, 2008

Quote from 5Pillars:

I would say at least 500K to 700K for a very small scale start up - ER2, DAX, ES are good instruments to start off with. For CL I would say 1 million is the very minimum to start small and build up over time.

thanks,I will stick with my lowly banjo for now.

5Pillars · May 27, 2008

Banjos are cool - try an electric guitar sometime!

http://www.youtube.com/watch?v=esl2NNOtHQE

Grandeur · May 27, 2008

Quote from 5Pillars:

I would say at least 500K to 700K for a very small scale start up - ER2, DAX, ES are good instruments to start off with. For CL I would say 1 million is the very minimum to start small and build up over time.

Start small? 10-10-10-10-20 is not very small, your account must be huge.

boxster332 · May 27, 2008

trade the Nymex MINY - QM, at half the size.

5Pillars · May 27, 2008

Quote from Grandeur:

Start small? 10-10-10-10-20 is not very small, your account must be huge.

You missed what I said - TO START. I have been trading CL for 1 1/2 years now (was LONG CL from late February 07 and on) from mainly ES only trading. Yes, you could start by trading the QM contract as mentioned with a lower INITIAL account size from what I mentioned for the CL.

http://www.elitetrader.com/vb/showt...962&perpage=6&highlight=47\\\.80&pagenumber=5

5Pillars · May 28, 2008

Quote from 5Pillars:

I was not able to get filled at 130.00 on Thursday (missed targets by a few cents) and had to take fills at 130.40 on the rebound for +1.10 per contract. Today I have covered the remainder of my 131.50 entries at 129.50 for +2.00 per contract. My targets for $128.35 entries have been moved to $126.35 for 1/2 of the 128.35 entries (will hold the rest for lower levels). I am still holding all 134.50 and 134.25 entries.

I had excellent accordion action on Friday and again today so far with numerous scale in and scale out hits. I have been adding typical small accordion entries with any trading above 133.00 and scaling out with trading at 132.00 and below. I am out of accordion short entries from 133.00 and above from Friday/Today with the price drop this morning as all are now scaled out - I will not scale accordion entries back in unless we are trading above 132.50 now.

Targets at 126.35 have been hit for 1/2 of my 128.35 entries - holding the rest of the position until lower pricing levels (looking for 112/113 area for the core of the position).

5Pillars · May 28, 2008

Decided with the strong single day rebound to add 4 short positions at 131.00 with targets at 129.00/128.00/127.00 /126.00 - holding all other positions as stated earlier today.

increasenow · May 28, 2008

Quote from 5Pillars:

I would say at least 500K to 700K for a very small scale start up - ER2, DAX, ES are good instruments to start off with. For CL I would say 1 million is the very minimum to start small and build up over time.

hey 5 pillars...great trading...do you trade the DAX daily?...what % of your trades are CL,ER2,DAX and ES...just curious...thanks, great trading!