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The Crude Dude Oil Trading System
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The Crude Dude Oil Trading System

  #371 (permalink)
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avall38486 View Post
Lance,
How do you recognize order flow imbalance ? Thanks ,
Amin

Hi. Probably the best indicator for me that shows order flow imbalance is something I've used for a few years called Tick Strike. It is an audible and visual indicator . When there is extreme selling or buying volume, it is has a meter that lights up..red for selling and green for buying. It's shown in several of my videos. It also has a ticking sound and the cadence and intensity increases as the order flow increases. So, after years of using it, it gives me a very reliable confirmation that a move is underway.
Also I have volume charts set up on a 10 second timeframe as well as a 1 minute. When I see large orders coming across a 10 second timeframe..like 500 to 1000 contracts or more..that tells me something is going on.

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  #372 (permalink)
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no I totally get it. Especially smart to have many indicators to help you trade.

As a thought experiment, I am just saying, why not be in the market 100% of the time (with stop losses to prevent HUGE moves against you in milliseconds); and just constantly reverse when rampage has that arrow/change of color? Wouldn't that work?

edit: oh I realize you weren't replying to me. Sorry.


Last edited by amob; October 16th, 2015 at 01:14 PM. Reason: not replying to me
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  #373 (permalink)
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amob View Post
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!

-amob

Hi. Thanks for your comment. Glad you are entertained. Better than boring, right? lol

To be honest, you may be correct. (I do not have the Rampage "Scalper Indicator" installed, just the original Rampage. I may give it a try though and install it.) If one were to take every signal and endure the choppy days etc, but were to ride out some big winners..it is possible you would end up ahead of the game. I think the original Rampage would be better for the big rides...especially set on a 1or 2 minute time frame. Often I will see, on a 2 minute setting..200 tick moves or more.
I do use Rampage mainly for trend confirmation..but I do think it can be very useful for staying in a trending move longer..at least from a psychological standpoint.

I am, however, a big believer in reading market conditions..and I doubt I could ever trust an indicator enough to take every signal. I really don't enjoy taking multiple losses in a row in hopes of nailing a big move.

If the volume is there and I see Cl really starting to move, I could see me going for a 100 tick move and using rampage to keep me in the trade. In other words, it hits my target or I get out with a signal change. I'd probably use a 2 minute chart with the original Rampage on it. My testing shows me the two minute would be best for that. A 5 minute chart can make you give back way too many ticks..sometimes over 60 or more before a signal change.

Staying in for longer moves on trending days is definitely something I need to work on more.

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  #374 (permalink)
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amob View Post
no I totally get it. Especially smart to have many indicators to help you trade.

As a thought experiment, I am just saying, why not be in the market 100% of the time (with stop losses to prevent HUGE moves against you in milliseconds); and just constantly reverse when rampage has that arrow/change of color? Wouldn't that work?

edit: oh I realize you weren't replying to me. Sorry.

I don't think it's a good idea to be in the market 100% of the time..especially in Crude Oil.. There are days where you can lose virtually every trade that way. I prefer to wait until the conditions and setups appear that I feel are extremely high probability..and only trade those.

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  #375 (permalink)
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Futures Edge on FIO

Which products do you trade?

 
I mean 100% of the time when you are actively trading. I was watching your videos and if you just set a stop loss and reverse every time you see the ramage arrow; it seems like it would breakeven/small loss when choppy and yet capture every big win? The only thought I could imagine it wouldn't work is getting eaten away by commissions and the constant very small losses (2 ticks, kind of like slippage). Again I have no idea, it was just a thought experiment.

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  #376 (permalink)
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and thank you for doing this; I have already learned a lot on your interesting style of trading.

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  #377 (permalink)
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Recap for today

End of a pretty good week.


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  #378 (permalink)
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lancelottrader View Post
Hi. Probably the best indicator for me that shows order flow imbalance is something I've used for a few years called Tick Strike. It is an audible and visual indicator . When there is extreme selling or buying volume, it is has a meter that lights up..red for selling and green for buying. It's shown in several of my videos. It also has a ticking sound and the cadence and intensity increases as the order flow increases. So, after years of using it, it gives me a very reliable confirmation that a move is underway.
Also I have volume charts set up on a 10 second timeframe as well as a 1 minute. When I see large orders coming across a 10 second timeframe..like 500 to 1000 contracts or more..that tells me something is going on.

I did go back and watched a video. Great Stuff.

How do you enter a trade ? market or limit or stop order ?

Thank you

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  #379 (permalink)
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broker / platform Question

Lance,
I was checking the broker Optimus futures.. Probably you are using ninja trader for charting and other platform for execution ? Does this delay your reaction time if you want to get in or out of a trade ? I think I may be overwhelmed with 2 different platforms? How do you handle both platforms ?
Thanks
Amin

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  #380 (permalink)
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lancelottrader View Post
End of a pretty good week.


i can not open this video
it says it is private
anybody else can open it ?

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