Trading the CL with Trading Price Action On Futures

Saber · May 14, 2015

Hi,

For today only one trade setup.

Tomorrow will be rollover day and there was a holiday in Europe so it was where slow.

Trade setup:
Short@60.33
Target@60.18,59.93
Stop loss@60.45
Outcome: +55 ticks

jas_in_hbca · May 14, 2015

Handle, those big bars were after inventory report. Could/would you make an exception to your big bar rule in that case ?

thanks

i960 · May 14, 2015

Handle123 said:
Two contracts and newbie spells disaster. If you can't make money on a one lot, two are worse.

Yeah, I couldn't agree more.

* Beginner trader.
* Starts with CL.
* 2 lots.
* Probably undercapitalized.
* Just buy support and sell resistance!

What could go wrong?

i960 · May 14, 2015

Also, OP, if you're trading S/R, where are they on your charts?

NoDoji · May 14, 2015

FWIW, looks to me like Saber is trading pure price action and very nicely at that. That first loss yesterday was due to poor stop placement, not a poor trade setup/entry. Saber, what I do if the initial signal requires a technically feasible stop that doesn't fit my max acceptable risk is wait for a second entry like you did on the second trade yesterday.

Handle123 · May 14, 2015

jas_in_hbca said:
Handle, those big bars were after inventory report. Could/would you make an exception to your big bar rule in that case ?

thanks

No, when back testing, you don't add or even know when reports from ten years ago occurred, but near ends of trends these bars occur.

Saber · May 15, 2015

Hi,

No trades for me today, rollover day and volume was mixed.

Have a nice weekend,
Saber

Saber · May 18, 2015

Hi,

Took 2 trades today.

Trade setup 1:
Entry long@61.11
Stop Loss@ 60.99
Target 1@61.26
Target 2@61.51
Outcome: +30 ticks

The last contract did not reach the profit target by 6 ticks, locked in 15 ticks of profit on the last contract.

Trade setup 2:
Entry short@60.37
Stop loss@60.53/60.49
Target 1@ 60.22
Target 2@ 59.97
Outcome: +16 ticks

This last setup was a good setup but price did not do what it supposed to do, the last contract went out at +1.

Daily outcome: +46 ticks

There where only 3 possible entries for today, took 2 of them. The one that I passed was due to a support level on the HTF that was still in place so had to pass this setup.

moonmist · May 18, 2015

Saber said:
Hi,

Took 2 trades today.

Trade setup 1:
Entry long@61.11
Stop Loss@ 60.99
Target 1@61.26
Target 2@61.51
Outcome: +30 ticks

The last contract did not reach the profit target by 6 ticks, locked in 15 ticks of profit on the last contract.

Trade setup 2:
Entry short@60.37
Stop loss@60.53/60.49
Target 1@ 60.22
Target 2@ 59.97
Outcome: +16 ticks

This last setup was a good setup but price did not do what it supposed to do, the last contract went out at +1.

Daily outcome: +46 ticks

There where only 3 possible entries for today, took 2 of them. The one that I passed was due to a support level on the HTF that was still in place so had to pass this setup.View attachment 152810

Hi,

You seem to like ascending/descending triangles. So far, they are your bigger winners.

Just my two cents.

Saber · May 20, 2015

Hi,

Yesterday no trades, only one opportunity during the morning session but the entry was not triggered but I wanted to highlight it here because it was a good area and I think the only area for a good trade yesterday.
Just look at the chart.