# That gold'n crude trading thread



## ThingyMajiggy (10 July 2013)

Going to post my practice here, focusing on crude using order flow, at the moment no charts, going to go through some exercises like: 

- stay in the market at all times and just flip
- get out at 2 ticks no matter what(to help focus on entries)
- get used to using size(up to 10, maybe 20 lots) 


Stuff like that  going to be simming obviously, as I have to save up whilst doing my day job before I can go live, or maybe I can suss out something like Top Step Trader, who knows, but for now I really want to do some deliberate practice and get things right. 

Nothing much else to add yet, most of my trades will be posted at night, usually in the form of a P&L curve, and on weekends when I will play back market recordings at 10x speed to increase my rate of learning. 

I think CanOz is gonna be posting some CL & GC trades here too, so anyway feel free to discuss or post some trades/ideas to make it interesting.


----------



## CanOz (10 July 2013)

Thanks for starting this Sam. CL is my all time favorite commodity.

I've been following GC, CL, NK and the DAX for months and months. The reasons i cose to follow these markets are:

NK: Its the best Asian market that i get data for..

DAX: i like the thinner markets, the FESX, ES etc. are too thick for my liking. I like to see stop runs etc. and there are less that really run on thicker markets.

CL: Crude is allot like the DAX for thickness/thinness. There are lots of games in the DOM and some nice patterns on the 5 min chart as well. It reacts well off support and resistance levels, and generally mean reverts way through a big trend, so big swings back to value then impulsive moves away.

GC: Still find things to like about it, some of the stop runs are good if you can get filled without slippage. 

Generally I'm trading CL and GC for practice in order to start a TST Combine in the fall. They are now taking NinjaTraders again so i'll apply after my holidays are over, provided i can get my connection a more stable.

My results on CL are the best results over the period starting June (roughly when i had to quit live trading). My NK results were respectable too but GC is still UN-profitable by about 300 ticks so from June 1st. I also have a few anomalies in there where i have been in a trade and cannot get out due the connection issue. That has also worked in my favor a couple of time where we've had an adverse excursion come back into profit while the connection was lost.

Anyway, looking forward to share some setups, hopefully some videos too.

For the next two weeks however, I'll just be a spectator, as I'll be on holidays in Canada!!

CanOz


----------



## ThingyMajiggy (10 July 2013)

So those results are not intra-day trades? Nice, have a good time in Canada! Always wanted to go there!


----------



## CanOz (10 July 2013)

ThingyMajiggy said:


> So those results are not intra-day trades? Nice, have a good time in Canada! Always wanted to go there!




Yeah, all intra-day trades, avg. time in the market is about 5 min.

By the way, for my workspace I'm using a 2 range on top of a 5 min chart, a 60 min chart with a trend channel, a TPO chart for structure, the DOM, and the Tape. Almost the same as I've been using for the last year, a little simpler.

4 cars,
15 tick stop loss 
2 cars with a 5 tick profit target
1 car with a 10 tick target
1 car runner with a 1.5 ATR stop

I'm guessing your workspace is a little less cluttered than mine same?

CanOz


----------



## CanOz (10 July 2013)

1st trade of the day....wrong account too


----------



## boofis (10 July 2013)

CanOz said:


> 1st trade of the day....wrong account too




I thought you gave intra the flick Can! You're a glutton for punishment


----------



## skyQuake (10 July 2013)

Gold has a nice little flag on the 5min.

Anyone else think the whole market is still shorting gold? All its gains aren't from a market that slowly trends up or drifts up.. its these big green bars - feels like short covering.


----------



## CanOz (10 July 2013)

Practice Boofis, Practice!

Agree Skyquake, seems like a run of covering then all quiet ntil the next level...

CanOz


----------



## ThingyMajiggy (10 July 2013)

CanOz said:


> I'm guessing your workspace is a little less cluttered than mine same?
> 
> CanOz




Haha yeah just a bit busier than what I'm looking at! Quite the push crude is having atm, through 105 now, one way train since the 24th or so!


----------



## ThingyMajiggy (10 July 2013)

Yesterday's and todays trades....made a few blunders with my timing, and a few newbie errors, but happy with how I've gone so far


----------



## CanOz (11 July 2013)

Wow Sam, that's some great results there. You're trading more frequent than me, how many contracts do you trade at once?

CL has respected this channel so far, so expecting a pull back or sideways for a couple of sessions, still thinking 110 as a target...

Good trading mate.

I'm all packed

CanOz


----------



## ThingyMajiggy (11 July 2013)

CanOz said:


> Wow Sam, that's some great results there. You're trading more frequent than me, how many contracts do you trade at once?




Thanks, 2 lots


----------



## CanOz (11 July 2013)

Looks like we've taken out the top of the channel...and GC is back the upper value area and heading for 1300, what a run this week has been


----------



## ThingyMajiggy (11 July 2013)

Did you get the email about the new combine rules or something? They want 1500 profit from 30k..... doesn't seem hugely challenging? Or is there more to it?


----------



## CanOz (11 July 2013)

ThingyMajiggy said:


> Did you get the email about the new combine rules or something? They want 1500 profit from 30k..... doesn't seem hugely challenging? Or is there more to it?




Yeah, there lots of chatter on it at BMT too. They reckon it forces you to be patient and wait for the best trades, some are saying it will make people force trades when time gets tight. I don't think it makes a difference if one can somehow just focus on trading and not the P/L.

CanOz


----------



## CanOz (11 July 2013)

Oh, by the way, BMT Elite member get a 20% discount on any Combine...

CanOz


----------



## ThingyMajiggy (11 July 2013)

What is the time frame they give to make 1500 profit?


----------



## ThingyMajiggy (11 July 2013)

ThingyMajiggy said:


> What is the time frame they give to make 1500 profit?




Ahh nevermind I see they offer 10 day or 20 day versions.


----------



## ThingyMajiggy (11 July 2013)

Week so far including tonights, only did a few trades, feeling a bit knackered, might check out this number coming out in a few mins then call it a night, got that feeling I'm going to do something stupid because I'm thinking about other crap too much, like getting sleep :freak3:


----------



## ThingyMajiggy (12 July 2013)

So here's the weeks results including today's/tonight's trades, might just spectate the rest of the night, feel like I should be doing more trades but then I suppose 8-10 isn't too bad in a day, going to do some exercises over the weekend with the speed up at 10x  

Clearly it's the big outliers that make the dollars, quite happy to scratch too, that is a win for me, used to always want to get a bit of profit(which would often turn into a loss!) but reasonably happy with how it went for week 1.


----------



## ThingyMajiggy (12 July 2013)

Had a few more little scalps, so thought I'd update it but can't seem to edit my posts after a certain time?


----------



## ThingyMajiggy (7 September 2013)

Been way too long but had a play last night for a while, was a bit rusty but got in the swing


----------



## boofis (8 September 2013)

ThingyMajiggy said:


> Been way too long but had a play last night for a while, was a bit rusty but got in the swing
> 
> View attachment 54299




I know I asked somewhere else, but couldn't find it, so what again is your y-axis? e.g. 0.5 = x ticks?


----------



## CanOz (8 September 2013)

Must be ticks....

Same I've got some stuff to share with you at some stage...early in the week.


----------



## ThingyMajiggy (8 September 2013)

boofis said:


> I know I asked somewhere else, but couldn't find it, so what again is your y-axis? e.g. 0.5 = x ticks?




Number of trades along the bottom and cents/ticks in profit on the left, so 0.5 would be 50c profit for crude, so 50 ticks, 0.1 = 10 ticks etc.


----------



## boofis (9 September 2013)

Nice, be pretty happy with that, what's the av. daily range of crude these days? Also, you know Bigdog has the same picture as you lol, it fools me every time.


----------



## ThingyMajiggy (9 September 2013)

boofis said:


> Nice, be pretty happy with that, what's the av. daily range of crude these days? Also, you know Bigdog has the same picture as you lol, it fools me every time.




Last time I checked it was about $1.50ish. Haha really? Didn't even know, I'll change mine


----------



## CanOz (9 September 2013)

Crude Oil has a couple of important go or no go areas....the high at 110.70, which is basically a double top in RTH. 

The RTH GAP at from 108.59 to 109.24....if you want to add a couple of areas for some significant action then these shouldn't disappoint!!

Short of any big news we may see an inside day which would add even further to chance of an interesting session later...


----------



## Joules MM1 (10 September 2013)

CanOz said:


> Crude Oil has a couple of important go or no go areas....the high at 110.70, which is basically a double top in RTH.
> 
> The RTH GAP at from 108.59 to 109.24....if you want to add a couple of areas for some significant action then these shouldn't disappoint!!
> 
> Short of any big news we may see an inside day which would add even further to chance of an interesting session later...




wot tha



> wot you doing?






> i'm trading a go area






> wot's wrong with no-go area






> dont go there mate, it's just too technical


----------



## CanOz (10 September 2013)

Joules MM1 said:


> wot tha




The No Go area just got hammered in ETH...

What is ETH? It a farkin easy way to say Extended Trading Hours

Go or No Go comes from Jim Dalton, who only trades these areas and i like the lingo because it very descriptive. They usually involve the tops and bottom of brackets (ranges) that are well defined over several sessions. They also involve GAPs in RTH (Regular Trading Hours) where buyers or sellers can step in and reverse the market, or push through stops, as they did in ETH.

I hope intra-day traders don't find this too technical because its very basic market structure, involving no trend lines, fibb ratios, or anything like that. If you can't understand GAPs then its time to walk away.


----------



## Joules MM1 (22 September 2013)

CanOz said:


> The No Go area just got hammered in ETH...
> 
> What is ETH? It a farkin easy way to say Extended Trading Hours
> 
> ...




'ridy, fair enough



> That gold'n crude trading thread



 is pretty quiet must be a lot of young  :badass: wanting to see the pros in action


----------



## CanOz (23 September 2013)

Joules MM1 said:


> 'ridy, fair enough
> 
> is pretty quiet must be a lot of young  :badass: wanting to see the pros in action




we'll I'm out for trading anything other than hockey cards for a while...a cataract and MD in my right eye have slowed me down considerably...


----------



## Joules MM1 (23 September 2013)

CanOz said:


> we'll I'm out for trading anything other than hockey cards for a while...a cataract and MD in my right eye have slowed me down considerably...






pirate impressions? 

get well mate


----------



## CanOz (23 September 2013)

Joules MM1 said:


> pirate impressions?
> 
> get well mate




irate:

Hows that?


----------



## >Apocalypto< (23 September 2013)

CanOz said:


> we'll I'm out for trading anything other than hockey cards for a while...a cataract and MD in my right eye have slowed me down considerably...




sorry to hear that... speedy recovery CanOz


----------



## CanOz (23 September 2013)

>Apocalypto< said:


> sorry to hear that... speedy recovery CanOz




Hey thanks mate, looks like a trip to Singa is on the cards soon....


----------



## ThingyMajiggy (23 September 2013)

yeah it's quiet here, I haven't been trading much as I've been flat knackers at work, and focusing on creating trading systems, learning python and R  

Anyone can post here, if there are others out there trading crude or gold, fire away, this isn't just for Can and myself.


----------

