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The Crude Dude Oil Trading System
Started: by lancelottrader Views / Replies:109,640 / 831
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The Crude Dude Oil Trading System

  #401 (permalink)
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Big Mike View Post
I think that is ridiculous. It implies the methodology is what is important, when in truth the importance is the context and execution, neither of which can be "given" to someone else.

Mike

I agree with you, Mike. I was just repeating something I was told, today. Besides, I feel a sort of camaraderie to the members of this site.
I have learned so much from others on here , so if someone gleams only one small piece of advice...and it ends up helping them... then I am happy with that.

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  #402 (permalink)
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Big Mike View Post
I think that is ridiculous. It implies the methodology is what is important, when in truth the importance is the context and execution, neither of which can be "given" to someone else.

Mike

@Big Mike

Why is the methodology not important? Why do you believe it is useless? Not every one can hold on to a losing trade like you and have it become profitable.

Day traders like @lancelottrader work very hard on their entry and methodology and going after relatively (in your opinion) small targets work for them. Not everyone can afford to be $10K or $20kdown. Maybe you can, but not me.

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  #403 (permalink)
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mrmuggins View Post
@Big Mike

Why is the methodology not important? Why do you believe it is useless? Not every one can hold on to a losing trade like you and have it become profitable.

Day traders like @lancelottrader work very hard on their entry and methodology and going after relatively (in your opinion) small targets work for them. Not everyone can afford to be $10K or $20kdown. Maybe you can, but not me.

If that is what you think of my trades, you have the completely wrong idea. I've posted months worth of my trades in my thread, you should read it.

Most people think of methodology as a script of when to buy, when to sell. That is what I was referring to. Over the years people want to protect their secret indicators, it just shows a lack of understanding.

That alone is not enough. People that put all the emphasis on "method" are the same ones that think indicators can make them profitable.

The truth is a "method" is much more than that, and is largely context and execution which is not something easily "given away".

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  #404 (permalink)
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Today, Monday the 26th ..is one of those weak, choppy days that can get you into trouble. I won a couple of small trades early on ..then lost them back. So..broke even and am currently staying out..probably the rest of the day. Remember, Cash is a position.

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  #405 (permalink)
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Futures Edge on FIO

Which products do you trade?

 
do you watch other markets when trading CL?

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  #406 (permalink)
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jonc View Post
do you watch other markets when trading CL?

..
I have been also watching Tf..it happens to move in a manner at times that works well with my style of trading. I don't like the tick value of NQ and Dow..which are only $5. I've never really liked trading the S&P..

So..right now just SIM trading TF..and putting together some statistics. If it goes well, I will include that along with my live CL trading.

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  #407 (permalink)
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Emotion and Perception

Pretty much broke even again on Cl today. There was one fast strong move after about 10:30 eastern..but I failed to jump in while it was moving.

Made about 60 ticks on TF (on SIM). I am starting to definitely get the hang of it. I have had many good days on it the last couple of weeks. A couple more weeks and I should be able to trade it live successfully.

The one area where I feel I have improved greatly is in controlling my emotions and impulses. One thing I strive to do is always observe the market and price movement in as objective a manner as possible. It's very easy to lose that objectivity when you have a strong directional bias, have just had a string of losses..or even a string of wins. The losses can suddenly make you unable to see that you are possibly in terrible market conditions. Your mind is clouded with the idea of recovering your losses. Any little setup or volatility can suddenly cause you to have an extreme desire to jump in. Your mind no longer is perceiving what the market is telling you. It is creating a false reality.

After several wins, this can also occur. You may get euphoric and extremely confident. You may fail to notice that price is now consolidating and you keep firing off trades. Suddenly you have given back all your wins.

This is why, no matter what happens, I keep verbally describing exactly what I see the market doing and not allow myself to fall victim to a faulty, emotionally driven perception of price movement. In other words, I don't impose my goals, fears or desires on the markets. I, now..wait patiently for the best possible setups that I believe are occurring.

Had, I mastered this ability sooner, my learning curve would have been significantly shortened.

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  #408 (permalink)
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you have a very good thread here...



lancelottrader, I think your trading style very close to mine. TF has a lot of the characteristics of the CL. You might already know that there are some market indicators for the TF.
The indicators are very similar what is available for the ES and NQ and also for the YM but I don't trade the YM very often. When I day trade the ES or NQ I do glance at $VOLD for the ES, ($UVOL/Q-$DVOL/Q for the NQ) $ADD for the ES ($ADVN/Q-$DECN/Q for NQ - the symbols naming convention per TOS).
I glance these values so I have an idea what the overall market is doing however I am watching very closely the 1 minute $TICK chart to go long or short or do nothing. So you may want to incorporate the market indicators into your TF trading. For the YM I use the ES stuff most of the time, but the TF quite often acts on its own.
Please note if whatever you are doing is working for you than don't bother, just keep doing what works.

Trading the CL I do look at what the HO and RB is doing. ex.: if RB and HO already at new highs or lows with a strong move and CL is a few ticks away from new highs or lows than most likely CL goes as well.
I did not read the whole thread therefore my apologies for my annoyance.

Hope this helps,

atata

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  #409 (permalink)
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Wow...Cl just went berzerk right around 10 am est...Same with TF...wonder what's going on.

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  #410 (permalink)
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atata View Post


lancelottrader, I think your trading style very close to mine. TF has a lot of the characteristics of the CL. You might already know that there are some market indicators for the TF.
The indicators are very similar what is available for the ES and NQ and also for the YM but I don't trade the YM very often. When I day trade the ES or NQ I do glance at $VOLD for the ES, ($UVOL/Q-$DVOL/Q for the NQ) $ADD for the ES ($ADVN/Q-$DECN/Q for NQ - the symbols naming convention per TOS).
I glance these values so I have an idea what the overall market is doing however I am watching very closely the 1 minute $TICK chart to go long or short or do nothing. So you may want to incorporate the market indicators into your TF trading. For the YM I use the ES stuff most of the time, but the TF quite often acts on its own.
Please note if whatever you are doing is working for you than don't bother, just keep doing what works.

Trading the CL I do look at what the HO and RB is doing. ex.: if RB and HO already at new highs or lows with a strong move and CL is a few ticks away from new highs or lows than most likely CL goes as well.
I did not read the whole thread therefore my apologies for my annoyance.

Hope this helps,

atata

Thanks a lot for your suggestions. I will look into some of those values to see if the correlation is helpful..although I try not to give myself too much info at one time. I mostly like to trade an individual instrument in Real Time. Again, I am always open to trying new things to see if they help...if I like the new thing ..I use it. If not, I won't . Thanks again.
I appreciate it.

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