The Crude Dude Oil Trading System - Commodities Futures Trading | futures io social day trading
futures io futures trading


The Crude Dude Oil Trading System
Updated: Views / Replies:123,370 / 867
Created: by lancelottrader Attachments:177

Welcome to futures io.

(If you already have an account, login at the top of the page)

futures io is the largest futures trading community on the planet, with over 90,000 members. At futures io, our goal has always been and always will be to create a friendly, positive, forward-thinking community where members can openly share and discuss everything the world of trading has to offer. The community is one of the friendliest you will find on any subject, with members going out of their way to help others. Some of the primary differences between futures io and other trading sites revolve around the standards of our community. Those standards include a code of conduct for our members, as well as extremely high standards that govern which partners we do business with, and which products or services we recommend to our members.

At futures io, our focus is on quality education. No hype, gimmicks, or secret sauce. The truth is: trading is hard. To succeed, you need to surround yourself with the right support system, educational content, and trading mentors Ė all of which you can find on futures io, utilizing our social trading environment.

With futures io, you can find honest trading reviews on brokers, trading rooms, indicator packages, trading strategies, and much more. Our trading review process is highly moderated to ensure that only genuine users are allowed, so you donít need to worry about fake reviews.

We are fundamentally different than most other trading sites:
  • We are here to help. Just let us know what you need.
  • We work extremely hard to keep things positive in our community.
  • We do not tolerate rude behavior, trolling, or vendors advertising in posts.
  • We firmly believe in and encourage sharing. The holy grail is within you, we can help you find it.
  • We expect our members to participate and become a part of the community. Help yourself by helping others.

You'll need to register in order to view the content of the threads and start contributing to our community.  It's free and simple.

-- Big Mike, Site Administrator

Reply
 177  
 
Thread Tools Search this Thread
 

The Crude Dude Oil Trading System

  #41 (permalink)
Elite Member
west palm beach florida usa
 
Futures Experience: Advanced
Platform: ninja trader
Broker/Data: Optimus Futures/ Rithmic
Favorite Futures: Cl, TF
 
Posts: 718 since Oct 2011
Thanks: 623 given, 2,434 received

Non farm created lots of opportunity today.

Failure is not an option
Reply With Quote
 
  #42 (permalink)
Elite Member
west palm beach florida usa
 
Futures Experience: Advanced
Platform: ninja trader
Broker/Data: Optimus Futures/ Rithmic
Favorite Futures: Cl, TF
 
Posts: 718 since Oct 2011
Thanks: 623 given, 2,434 received

Here's some trades I took today.

Failure is not an option
Attached Thumbnails
The Crude Dude Oil Trading System-cl-10-12-2-range-9_7_2012.jpg   The Crude Dude Oil Trading System-cl-10-12-5-range-9_7_2012-85-ticks.jpg   The Crude Dude Oil Trading System-cl-10-12-5-range-9_7_2012-60-ticks.jpg  
Reply With Quote
 
  #43 (permalink)
Elite Member
west palm beach florida usa
 
Futures Experience: Advanced
Platform: ninja trader
Broker/Data: Optimus Futures/ Rithmic
Favorite Futures: Cl, TF
 
Posts: 718 since Oct 2011
Thanks: 623 given, 2,434 received


The funny thing is...for a long time I wasn't really following my own system and it's rules completely. The rules were to enter at certain "hotzone " times of the day in conjunction with several other indicators lining up ..stops generally kept at no more than 10 ticks..and to ride out the trade untill my software gave me an exit signal. The exits are a breach of the black spine on my 2 range chart..or a an exit signal on my 5 range. Instead, I was getting out of a lot of trades at 10 ticks..or whenever I felt the price had gone far enough. The truth is, you never can tell how far it will go. So I started forcing myself to stay in until the exit signals came from the software. Now, I'm starting to get 40 - 100 tick moves on almost a daily basis. Yes, sometimes I'm up 20 ticks and I end up breaking even..but the upside is catching some huge moves. Instead of being happy with a 50 tick week, I have had a few 200- 300 tick weeks..just by following my system. Discipline is truly the key.

Failure is not an option
Attached Thumbnails
The Crude Dude Oil Trading System-cl-10-12-5-range-9_7_2012-80-ticks.jpg   The Crude Dude Oil Trading System-cl-10-12-5-range-9_7_2012-50-ticks.jpg  
Reply With Quote
The following 7 users say Thank You to lancelottrader for this post:
 
  #44 (permalink)
Elite Member
Reno, NV
 
Futures Experience: Intermediate
Platform: NT
Favorite Futures: Currency--just started
 
trvlntrdr's Avatar
 
Posts: 65 since Feb 2012
Thanks: 464 given, 105 received

Thanks for this thread

Well, Lancellot I would like to say thanks for producing this thread for several reasons, 1) you give me encouragement that a trader can develop into a consistently profitable trader 2) you stuck with the thread for months 3) you didnt really change your method much, so we can see that you have found a good system over time and 4) the honesty to post your errors that remind us all that discipline is a daily requirement for all traders, no matter how successful---one can not lose discipline!

Reply With Quote
The following 3 users say Thank You to trvlntrdr for this post:
 
  #45 (permalink)
Elite Member
west palm beach florida usa
 
Futures Experience: Advanced
Platform: ninja trader
Broker/Data: Optimus Futures/ Rithmic
Favorite Futures: Cl, TF
 
Posts: 718 since Oct 2011
Thanks: 623 given, 2,434 received


trvlntrdr View Post
Well, Lancellot I would like to say thanks for producing this thread for several reasons, 1) you give me encouragement that a trader can develop into a consistently profitable trader 2) you stuck with the thread for months 3) you didnt really change your method much, so we can see that you have found a good system over time and 4) the honesty to post your errors that remind us all that discipline is a daily requirement for all traders, no matter how successful---one can not lose discipline!

Thanks for the comments. The "discipline" thing has been written about a ton of times, but in my case, it's been my biggest obstacle. Obviously, one needs to find a reasonable system...and, most importantly, understand the market conditions in which that system works best in. My system works best when there is directional momentum. That happens towards the opening of a market..3 to 5 minutes after a news release, and at certain times I have seen statistically to yield a big move. I have sincerely believed for a while my system can produce results..unfortunately I have often failed to follow it.
Why? The first emotion that I succumb to is Temptation. The market has numerous fakeouts and traps every day. This is no accident. The Pro's know how to lure you into a trade by making it look like a sure thing. Discipline is the only thing that can keep me out of a trade untill everything in my system lines up. Unfortunately I have failed in this respect many times.

The second big obstacle is fear of loss. When you have been killed as many times as I have trading, it's easy to want to bail out of trade when you're only a few ticks up..or down. I now have to make a commitment to stay in a trade until the market takes me out..not what I think my target should be. It's much easier said then done. On demo, no problem. Live, much harder..but I'm doing it...Finally, I'm really riding out some great moves. But I'm always tempted to bail when I'm up 10 ticks or so.

Another undisciplined issue was abandoning my system after some consecutive losses and doing the revenge trade thing. I now record my commentary while trading, always giving feedback on my emotional state. If I notice that feeling coming on, I walk away. That takes discipline. I realized I can get compulsive and keep coming back to the PC like some deranged Vegas Gambler. It's horrible. My heart pounds, I get sweaty..my blood pressure would go through the roof. It's hard to explain but the results are usually disasterous . I'll pile on double or triple the contracts I usually trade and go into some stupid scalps trying to make it all back in one or two trades. I can never let that happen again.
I decided if I was going to fail, it was going to be because my system sucked. That I can live with. But to fail, after all these years and time and money spent at this..because I couldn't control myself or follow my rules..then that, would be truly sad and pathetic.

Failure is not an option
Reply With Quote
The following 10 users say Thank You to lancelottrader for this post:
 
  #46 (permalink)
Elite Member
Reno, NV
 
Futures Experience: Intermediate
Platform: NT
Favorite Futures: Currency--just started
 
trvlntrdr's Avatar
 
Posts: 65 since Feb 2012
Thanks: 464 given, 105 received

Wise words. I suspect few traders have avoided those emotional issues. Probably even the real pros in firms struggle with them. I notice almost every time I get excited about a trade it turns out badly. Strangely I am not a real emotional person and not prone to gambling. (Otherwise I couldnt live in Reno!) I need to keep reminding myself of the facts you mention and make sure I develop a system that gives me minimal "wriggle room" to get out of my system. Otherwise I cant determine if the system is the problem or my emotion. Journaling my frame of mind or attitude sounds like a good idea.
Thanks Again!

Reply With Quote
The following user says Thank You to trvlntrdr for this post:
 
  #47 (permalink)
 Vendor: www.thestrategylab.com 
Quebec, Canada
 
Futures Experience: Advanced
Platform: X-Trader, InfinityAT, Saxotrader
Favorite Futures: Emini ES, Emini TF, Crude CL, Eurex DAX, EuroFX 6E, Forex EurUsd and Hang Seng HSI
 
Posts: 32 since Mar 2011
Thanks: 39 given, 36 received


lancelottrader View Post
I have been recording my trading sessions on using the Screen Movie Studio desktop screen recording program and I've found it to be very useful . I do a constant commentary while watching the CL market and announce when I see a viable setup occuring. I have noticed when I watch it back, I can see some patterns consistently emerging before a big move takes off in Oil. Here's kind of what my screen looks like when Oil is about to make a strong push. I reccomend this to traders to be able to review their trades. I record myself stating why I should enter, why I should hold the trade or exit, what the prevailing market conditions are (choppy, trending, chaotic or volatile). I do constant "What-if" scenarios...

This is one of the best self-learning tools and wish more traders would do such.

You recording only one monitor or multiple monitors ?

Reply With Quote
 
  #48 (permalink)
Elite Member
west palm beach florida usa
 
Futures Experience: Advanced
Platform: ninja trader
Broker/Data: Optimus Futures/ Rithmic
Favorite Futures: Cl, TF
 
Posts: 718 since Oct 2011
Thanks: 623 given, 2,434 received


wrbtrader View Post
This is one of the best self-learning tools and wish more traders would do such.

You recording only one monitor or multiple monitors ?

I use two monitors while trading, but most all my charts and indicators are on 1 monitor. The other monitor has a duplicate chart..but in a zoomed out perspective. This is the chart that automatically draws all price congestion areas and support and resistance lines . I like to watch that chart while I'm managing a trade because when it hits the price congestion areas, I can expect price to bounce. Now as long as price stays within the parameters of my Indicators/moving averages, I can ride it out. But it's nice to understand why the price is bouncing. I call these areas "Speed bumps". So, to answer your question, I am only recording the one monitor that has all the primary charts on it. Mainly cause I haven't figured out how to record both monitors..

Failure is not an option
Reply With Quote
 
  #49 (permalink)
Elite Member
west palm beach florida usa
 
Futures Experience: Advanced
Platform: ninja trader
Broker/Data: Optimus Futures/ Rithmic
Favorite Futures: Cl, TF
 
Posts: 718 since Oct 2011
Thanks: 623 given, 2,434 received

Started out today nicely with this 40 tick pop a few minutes ago.

Failure is not an option
Attached Thumbnails
The Crude Dude Oil Trading System-cl-10-12-2-range-9_11_2012-40-tick-move.jpg  
Reply With Quote
The following 3 users say Thank You to lancelottrader for this post:
 
  #50 (permalink)
Elite Member
Houston,Tx
 
Futures Experience: Advanced
Platform: NinjaTrader
Broker/Data: Mirus Futures/Zen-Fire
Favorite Futures: TF
 
ThatManFromTexas's Avatar
 
Posts: 2,302 since Feb 2010
Thanks: 1,208 given, 4,283 received



lancelottrader View Post
Started out today nicely with this 40 tick pop a few minutes ago.

@lancelottrader

I love the way you black out the indicator name ... thank you for sharing ... too funny...

I'm just a simple man trading a simple plan.

My daddy always said, "Every day above ground is a good day!"

Last edited by ThatManFromTexas; September 11th, 2012 at 11:01 AM. Reason: Piss Poor Typing
Reply With Quote

Reply



futures io > > > > The Crude Dude Oil Trading System

Thread Tools Search this Thread
Search this Thread:

Advanced Search



Upcoming Webinars and Events (4:30PM ET unless noted)

July Journal Challenge w/$1100 in prizes from TopstepTrader

July
 

An Afternoon with FIO member Softsoap

Elite only

Battlestations: Show us your trading desks and win $750 in prizes

August
 

Extended Ask Me Anything w/Brett Steenbarger

Elite only

Prototyping Python Strategies (part 3) w/Ran Aroussi

Elite only

Brannigan Barrett w/Axia Futures

Elite only

Introduction to Phillip Capital futures brokerage services

Aug TBD

How Monte Carlo Analysis Can Help Your Trading w/Kevin Davey

Elite only
     

Similar Threads
Thread Thread Starter Forum Replies Last Post
Crude Oil trading JDNeeman Trading Journals 526 November 24th, 2016 07:12 PM
Gettin' Serious - Crude Oil Trading tgibbs Elite Trading Journals 19 November 24th, 2014 09:18 AM
Trading Journal - Day Trading Crude Oil with Fibs & S/R greg9 Trading Journals 83 September 5th, 2013 03:48 PM
Crude Oil (CL) Trading by goldenriver goldenriver Elite Trading Journals 52 March 12th, 2013 03:32 PM
123 Profitable Crude Oil trading JDNeeman Trading Journals 7 September 6th, 2012 07:06 PM


All times are GMT -4. The time now is 08:57 AM.

Copyright © 2017 by futures io, s.a., Av Ricardo J. Alfaro, Century Tower, Panama, +507 833-9432, info@futures.io
All information is for educational use only and is not investment advice.
There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
no new posts
Page generated 2017-07-24 in 0.13 seconds with 20 queries on phoenix via your IP 54.146.1.178