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Crude in 2011
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Crude in 2011

  #11 (permalink)
The fun is in the numbers
Point Roberts, WA, USA
 
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aquarian1 View Post
Friday, May 06, 2011

Initial Cash Balance $20,000
Cash balance $26,900
Net position -1 @ 109.27
----------

Today's action:

Set alert for 103
If it fails at 103.13 then looking to sell 2 at that level, with a stop at 103.41 for those 2.There was a typo in the above level -my apologies.


torroray View Post
For intraday how big is your stop?

(In my journal I am intraday trading CL -usually I mention the stops).

I am setting the stop visually. Ideally, I would enter soon after it was clear that the CL had failed at a resistance level and set the stop above the resistance level. I will try to be more careful tomorrow and clearly show the stop.

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  #12 (permalink)
The fun is in the numbers
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intraday stops

Hi Torray,

I am posting this to try to give a better picture of intraday stops.
It's not the best example because the high wasn't at a resistance level.

For this thread I want to add to the pyramid at 104.73 or 103.47 and I would use a wider stop as it would be adding to the pyramid.

For intraday making 30 - 60 cents is fine so the stop wouldn't want to be more than that, say 30 cents.
I am new to trading oil so its a learning curve. Today looks like a choppy mess (for ES, gold, and perhaps CL?)

I hope the picture helps. As you can see the stop is a little above the high.

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  #13 (permalink)
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30 cents for stop. That would be 300 bucks for 1 contract?

One day I would like to trade CL but in a learning stage now.

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  #14 (permalink)
The fun is in the numbers
Point Roberts, WA, USA
 
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Monday 6 May, 2011

CL stopped at its uptrendline, L 94.63 on 6 May.
50% retracement is 107.73
9/16 is 106.14 and there is a low at 106.10 on April 19 5 min crude light chart

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  #15 (permalink)
The fun is in the numbers
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torroray View Post
30 cents for stop. That would be 300 bucks for 1 contract?

One day I would like to trade CL but in a learning stage now.

So am I Torraray!

There are lots of people on the board who focus on crude so you might want to start with seeing what they do. In this thread I am posting charts and ideas on a multiday swing trade.

The example I posted this morning wasn't very good as it wasn't against a resistance and I got stopped out. (all trades from me are paper trades.)

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  #16 (permalink)
The fun is in the numbers
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------------ Monday, May 09, 2011 --------
Initial Cash Balance $20,000

Opening cash balance today $26,900
Loss today -$ 830
Closing Cash Balance $26,070
Net position -1 @ 109.27
----------

Today's action:

1 SLD 100.47@10:19
BOT 101.30@11:06 (stopped out) = -0.83 *1000 = -$830

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  #17 (permalink)
The fun is in the numbers
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------------ Tuesday, May 10, 2011 --------
Initial Cash Balance $20,000

Opening cash balance today $26,070
Closing Cash Balance $26,070
Position at open -1 @ 109.27

Today's action: 2 SLD 102.89 @ 11:11

(109.27+102.89+102.89) /3 = 105.0167 average price on 3 short.

Net position at close:
-1 @ 109.27
-2 @ 102.89
-----
-3 @ 105.0167

Set buystop on one = 106.68

-------------------------
Notes:
Would have been better selling later - or not at all today?
Wait for big levels -
e.g. 1/2 or 104.75
4/7 or 106.18.
or
wait for a big with a big peak early in AM and strong drop into the close.

Margin calculations:
Close 103.46 to 102.89 -0.57 *2,000= -$1,140
Close 103.46 from 109.27 * 1,000 = +$5,810
Open equity +4,670

O/n maintenance on 3 * $5,000 $15,000
$24,670 - 15,000= $9,670 margin left.
(room $9,670/$3,000= 3.2233)

Close 103.46 +3.2233 = 106.68 price before needing to drop one.
Set stop on one = 106.68.

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  #18 (permalink)
The fun is in the numbers
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------------ Wednesday, May 11, 2011 --------
I'm up and online. CL has fallen with a low of 98.49
I'll bracket the current price so I get out of 1 short contract with either
buy at 99.14 or buystop at 100.08

probably most of today's fall is done.

Net position at close:
-1 @ 109.27
-2 @ 102.89
-----
-3 @ 105.0167

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  #19 (permalink)
The fun is in the numbers
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Ok were're out of one! Cash balance is moving up and pyramid is increasing.
Later I'll review the charts to see where to resell.

------------ Wednesday, May 11, 2011 --------
Initial Cash Balance $20,000

Opening cash balance today $26,070
Profit today $ 2,410
Closing Cash Balance $28,480

Today's action: 1 BOT @ 100.17 @ 12:20CT
SLD yesterday at 102.58
Profit =2.41 *1,000 = $2,410

Net position at close:
-1 @ 109.27
-1 @ 102.89
-----
-2 @ 106.08

Buystop on one = 106.68

Keep your mind in the future, in the now.
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  #20 (permalink)
The fun is in the numbers
Point Roberts, WA, USA
 
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Wednesday 11 May, 2011

CL stopped at H104.60 on 11 May (o/n session).
7/16 is 103.47
looking to sell there or at -3*2 Daily crude light chart

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