Crude intraday

nomore4s · 11 May 2010

Just got a nice couple of trades on Crude, will probably call it a night now.

Nearing strong support on the hourly chart so could be a good place for a bounce back towards $78 - if looking for longer term intra-day trades.

Good luck if trading tonight to the crude crew, lol.

And just to prove yesterdays stats weren't a fluke

>Apocalypto< · 11 May 2010

nomore4s said:
Just got a nice couple of trades on Crude, will probably call it a night now.

Nearing strong support on the hourly chart so could be a good place for a bounce back towards $78 - if looking for longer term intra-day trades.

Good luck if trading tonight to the crude crew, lol.

And just to prove yesterdays stats weren't a fluke

FANTASTIC Nomore4s!

great results well done.

I got a hammering tonight. -28 cents. back on sim for 3 days then back on the horse.

hey Nomore you trade a 1min right with no indicators or a system as such I like I use? based on your last post you adapt to the current market infront of you yeh?

Cheers

nomore4s · 11 May 2010

>Apocalypto< said:
hey Nomore you trade a 1min right with no indicators or a system as such I like I use? based on your last post you adapt to the current market infront of you yeh?

Yes, I trade off a 1min chart with volume & a bastardized version of FrankD's channels (I have a number of different codes for different time-frames for the channels) but to tell the truth I could actually trade off a naked chart with volume only. I tend to only use the channels as a sort of trend indicator and a type of pivot point but it is mainly the price action and speed of the moves (ie when it starts to slow and stall) that I use to enter trades.

I also tend to look over different time-frames to help identify support & resistance which also plays an important role in helping me get an overview of the overall market to help me understand how I should be trading for that session.

I by no means pick the market conditions correctly every session I trade and sometimes I even do stupid things like trade against my plan for that session but by having good risk management I can limit my losses on days like this - although I still occasionally have a really big brain explosion day but I'm slowly working these out of my trading.

It wasn't until I totally disregarded most of the T/A cr@p you read in most of the books that I really started to make inroads into this trading game. Most of that BS is fine for trading stocks on EOD charts if you want to return 10-15% PA but is actually a hinderence to day-trading futures off 1 min charts. The biggest area I can improve now is with the mental side of trading - a very underestimated area of trading, especially day trading imo.

nomore4s · 12 May 2010

Been a bit of a struggle for me today.

Not much time to trade during the day today so missed quite a few opps on the SPI and probably won't have much time to trade it now till next month.

Also struggled on Crude tonight, first couple of trades were losers so pretty much been chasing my tail for the whole night, managed to get back to b/e, so happy.

nomore4s · 12 May 2010

Amazing what 10 min and a really good trade can do for the nights profit.

I took a losing trade (2 entries of 2 contracts) then a really good trade (again 2 entries of 2 contracts), and interestingly the loser was in the same direction and around the same area as the winner but the market stopped me out and then was kind enough to give me another chance to enter, pity the market isn't always so generous to me.

>Apocalypto< · 13 May 2010

great efforts Nomore. reay impressive mate!

I am so impressed I am going to spend some time on sim to see if I can make any cents with no indis.

I picked up 15 cents last night. but I am very very interested in how you and Sam tackle this with no indis.

see what damage I can do to my sim acc!

nomore4s · 13 May 2010

>Apocalypto< said:
great efforts Nomore. reay impressive mate!

I am so impressed I am going to spend some time on sim to see if I can make any cents with no indis.

I picked up 15 cents last night. but I am very very interested in how you and Sam tackle this with no indis.

see what damage I can do to my sim acc!

I should probably also mention that I have book trader open and keep a close eye on the price action in the ladder.

After enough hours you can see moves coming to an end or basing or topping patterns forming, it is very hard to explain how I trade and tbh I probably couldn't teach it to anyone. Decisions have to be made in a split second trading on 1min charts and I've lost count of the times I've missed great trades because I hesitated or I've been caught in losing trades because I entered prematurely not wanting to miss the move, the trick is not to let those set backs affect your trading for the rest of the session.

It is worth playing around with different ideas and strategies in sim to see what works and what doesn't, but don't get caught up trying to find the holy grail as you will forever be chasing your own tail. We all see the market & react to it differently and what works for me might not work for you, you really have to find something you are comfortable with.

>Apocalypto< · 13 May 2010

nomore4s said:
I should probably also mention that I have book trader open and keep a close eye on the price action in the ladder.

Hi Nomore, thanks for your reply. I also use BookTrader and watch the depth, not that I am understanding much of it that much. Like you guys I watch ti the whole time I have a trade open.

After enough hours you can see moves coming to an end or basing or topping patterns forming, it is very hard to explain how I trade and tbh I probably couldn't teach it to anyone. Decisions have to be made in a split second trading on 1min charts and I've lost count of the times I've missed great trades because I hesitated or I've been caught in losing trades because I entered prematurely not wanting to miss the move, the trick is not to let those set backs affect your trading for the rest of the session.

I am not on 1min staying on 2-3min. I am just going to play around with this I know what you mean about split second decisions on these time frames. Thanks for sharing some thing you watch out for.

It is worth playing around with different ideas and strategies in sim to see what works and what doesn't, but don't get caught up trying to find the holy grail as you will forever be chasing your own tail. We all see the market & react to it differently and what works for me might not work for you, you really have to find something you are comfortable with

What I have found myself doing more and more ATM on the floor trader method is only taking on some of the signals that break highs or lows. I found I am trading more off support and resistance with retracements then just blindly following the entries as explained in the system. Due to this and after reading Sam and your posts I thought what’s the difference of having the MAs on the chart or not?

Going to have a play around with it, Appreciate your feed aback Nomore. Good trading to you

nomore4s · 15 May 2010

So I'm not accused of posting only good days up, here is what a bad day looks like for me (although in the end it turned out ok). The first one is obviously when I'm down and the second shows I've managed to pull it back.

Been chasing my tail all day today. I didn't trade yesterday so have posted up all of this weeks results.

So all in all not a bad week.

I mis-read Crude early and was trying to trade long off what I thought was support but of course I ended up getting burnt a bit, I was down quite a bit at one stage but one of the things I really love about crude is it gives you plenty of opportunities to get back to even or eventually make some profit. I actually was trading quite well after I re-set myself and actually listened to the market and not my bias.

You'll also notice the amount of commission is up on todays results compared to the rest of the week which highlights how I've struggled today & how much harder I've had to work.

ThingyMajiggy · 15 May 2010

Started out as a good week, was up about 70c on Tuesday, then typical me decided to try a few new things, which of course ended in failure, gave it all back and went in the red by about that much

So tonight I decided to go back to how I started and managed to get back into the green again, had a reasonable run on the open, this is the first 45 minutes or so. Just tonight I'm up about 88c, for the week about 25c or so.

I really need to fix my problem of getting distracted and trying to find new ideas or try new things, I do it all the time, need to just stick at one thing, I don't really change anything all that major, but I seem to waste a lot of time doing the actual changing, swapping between programs, fiddling with this, reading up about that etc etc. Next thing its Friday and I'm still fart-ar$eing around

BTW, impressive effort and nice trading 4s

iced earth · 15 May 2010

wti oil - 15 May 2010:

The support line of the blue channel has been broken definitely , the target could be around $ 60 . The red channel is also on the verge of break, this could have a target even lower than the blue one.

nomore4s · 17 May 2010

ThingyMajiggy said:
Started out as a good week, was up about 70c on Tuesday, then typical me decided to try a few new things, which of course ended in failure, gave it all back and went in the red by about that much

So tonight I decided to go back to how I started and managed to get back into the green again, had a reasonable run on the open, this is the first 45 minutes or so. Just tonight I'm up about 88c, for the week about 25c or so.

I really need to fix my problem of getting distracted and trying to find new ideas or try new things, I do it all the time, need to just stick at one thing, I don't really change anything all that major, but I seem to waste a lot of time doing the actual changing, swapping between programs, fiddling with this, reading up about that etc etc. Next thing its Friday and I'm still fart-ar$eing around

Sam this is an area of your trading you really need to address. You're stuck in a bit of a beginners cycle imo.

You have stated that before going live you want to achieve some consistant results but how do you expect to achieve consistant results when you don't trade consistantly?

I'm also not sure why you feel the need to change systems when you are obviously making money with the one you are using, this is a drawback to sim trading imo, it gets "boring" or whatever and it becomes to easy to change strategies/systems/ideas and then you don't actually achieve anything because you have no consistant approach to the market.

ThingyMajiggy · 19 May 2010

WTF!

Anyone else got this problem? I have just changed over to July expiry on CL, my June was running @ 68-69, my July is running @ 72.40ish right now. My chart has gone mental, I changed NT over to July and it starts @ 68 then snaps up to 72 on a HUGE candle, weird part is its doing it on BOTH feeds, IB and eSignal.

Never seen this happen before, is anyone else getting this or is it my end playing up, kinda weird that both feeds are doing it, I can't seem to get any backfill on the july data, it just starts @ 68, then cracks up to 72 a second or so later(once the chart has loaded).

nomore4s · 19 May 2010

ThingyMajiggy said:
WTF!

Anyone else got this problem? I have just changed over to July expiry on CL, my June was running @ 68-69, my July is running @ 72.40ish right now. My chart has gone mental, I changed NT over to July and it starts @ 68 then snaps up to 72 on a HUGE candle, weird part is its doing it on BOTH feeds, IB and eSignal.

Never seen this happen before, is anyone else getting this or is it my end playing up, kinda weird that both feeds are doing it, I can't seem to get any backfill on the july data, it just starts @ 68, then cracks up to 72 a second or so later(once the chart has loaded).

Sam try loading the data into Amibroker and see if it has the same problem.

ThingyMajiggy · 19 May 2010

nomore4s said:
Sam try loading the data into Amibroker and see if it has the same problem.

Yeah works fine in Ami. Just found out what the problem is, went onto the NT forum and others had the same thing, there is a setting that needs to be changed in the instrument settings for those interested. Need to change the merge settings to "DoNotMerge".

ThingyMajiggy · 20 May 2010

All fixed, makes a bit more sense now! +35c tonight. Missed a good long while I was stuffin around with that problem I had, ah well, not like theres a lack of opportunity with this thing.

iced earth · 25 May 2010

oil- WTI : 25 MAY 2010

As been mentioned before, the short time rise in oil was only a pull back after breaking the channel. the goal would be around 60$

ThingyMajiggy · 27 May 2010

iced earth said:
As been mentioned before, the short time rise in oil was only a pull back after breaking the channel. the goal would be around 60$

Currently trading @ high 73s

What now? $60 still the target? You said that on the 25th, picked it well....you could be handy to have around, fade iced-earth :

Twiddle · 28 May 2010

Can I ask how long you average trade time is, when you are trading crude Nomore4s?

Do you ever have troubles with your trades being filled?

I have been testing a demo account with Ninjatrader and Mirus futures, and I am trying to work out if I can get away with making many quick trades, or if latency from Oz to the US will kill my quick trading.

iced earth · 31 May 2010

ThingyMajiggy said:
Currently trading @ high 73s

What now? $60 still the target? You said that on the 25th, picked it well....you could be handy to have around, fade iced-earth :

Dear Sam

I am right here ( no fade) . the pattern has not been failed yet, as the current move would be a pull back. But for the sake of my Investment and global economy I rather see the pattern fail rather than prevail.

Cheers
Mohsen

Crude intraday

Commonsense isn't that common

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Commonsense isn't that common

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