Lance, Yes the win rate is good. I put that down to being patient. My R:R could improve and some of my entry and exit errors as well as psychology. Working to improve. Here is a graphic of the main setup. Simple price crossover...with second average confirmation. "If price crosses the vein in favour of the spine enter at the value of the vein or on the confirmation bar."
A little update. I have continued to hit my weekly goal the last several weeks. As far as trading TF with Oil, I have not transitioned to live trading 100% on TF. I have taken some live trades with it. There are days where it does get into the type of conditions I can recognize and do well with.
However, I realize my expertise is with Cl. I understand how it moves and I know what my charts look like when it is the ideal time to trade it. The reason of course is that I have traded it, almost exclusively for the last three or four years. I am still going to keep watching TF as well for a few more weeks. There are volatile days with great moves..and I want to try to see if I can take advantage of those days. But for me, even on a lousy Cl day, I can usually find a move or two and make at least 20 ticks or so.
The one area that I have made great improvements in, is in controlling impulses and following rules. I also feel like I have gotten very good at reading real time market conditions. I absolutely will not put my money at risk in what I consider adverse conditions. At the same time, I will not hesitate to take a trade if everything lines up such as...momentum, lack of obstacles in the way of target, great price action setup...great hotzone time of day and overwhelming order flow imbalance.
Failure is not an option
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Do you feel that you're now at ease with your new contract size? How long did it take you after increasing to really feel comfortable like you used to before you increased? Just curious as I'm contemplating an increase in contract size. I would also be interested in how your fills changed if any. I know CL is fairly liquid but nothing like ES. Thanks!
The answer is no...I'm not at ease yet. I still get a bit of adrenaline after entering a trade, but much better than a few weeks back.
On a positive note, I am much more likely to wait for the absolute best setup and conditions now..since there is more at stake. The fills have been fine so far. I don't know how many contracts one can trade with Cl before there are problems. I traded 10 a few years back and they filled fine. Maybe 20 and up is an issue? I don't know. Maybe if I get up to that eventually, I'll just press 10 twice. lol.
Failure is not an option
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Hiya, I just spent over 2 hours reading through your CL trading thread. Very entertaining read.
I have a very stupid question but cannot shake off why this wouldn't work. Using the rampage scalper indicator, why can't you just reverse your position every time you see an arrow / the color changes? Yes you would rack up the commissions during choppy times, and break even a lot. But you wouldn't miss any big rides?
Please let me know why this clearly wouldn't work
Thanks again for posting it has been a great read!