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

  #731 (permalink)
Trading for Profit
Atlanta GA USA
 
Futures Experience: Advanced
Platform: thinkorswim/Ninja Trader
Favorite Futures: stock options; ES, TF, 6E, 6J
 
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Just looking at some pics of him. Wow. Good looking and very fit even through old age.

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  #732 (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
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A couple of enhancements

I've made a few slight changes that i have found helpful in the last few weeks. Although I have had the order flow indicator Tick Strike for a long time, I wasn't really using it to it's best advantage. A lot of my entries have been price action pattern- based and the entry point was often a location like the break of my black Spine on my 2 range chart.For example, one pattern was a pullback during a fresh strong momentum move..that would fail in it's countertrend path. After the appropriate pattern formed and price would re-enter the trend, I would enter on the break of the Black spine. Often I would get in without any type of real time order flow confirmation. Many of these trades would work out...but also there were many times when they would not. The reason I liked the Black spine entry is it seemed to keep my risk very low and got me in at what I felt was a good "price."
I have found that I win more often on these moves if I see some order flow starting to accumulate in my direction first..through tick strike showing orders coming in. Yes, I may get into a move 3 to 5 ticks later..but it definitely has more confirmation and I am losing far less trades on these setups.

Also, after reviewing lots of my recorded sessions, I would find there were these almost spontaneous surges in Cl that seemed to come out of nowhere..and I would sit there dazed watching it explode up 30 to 50 ticks in a matter of seconds. I would then hope for some kind of pullback..which often didn't work out that well.

I noticed a certain price pattern of a previous swing high or swing low..being taken out in conjunction with extreme order flow coming in. I have been practicing these "Power Swing Breaks" (As I have named them..lol) and have been nailing lots of them. You have to be quick on the trigger to get them but they are nice little pops that I used to sit back and watch passively..in the past.
Also, I am liking how price appears on the Unirenko bars and have found it easier to watch and hold trades than on my frantic moving 2 range chart..
So, overall a few minor changes..but I am getting better results.

Failure is not an option
Attached Thumbnails
The Crude Dude Oil Trading System-cl-05-16-2-unirenko-t2r4o2-4_12_2016.jpg   The Crude Dude Oil Trading System-cl-05-16-2-range-4_12_2016.jpg  
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  #733 (permalink)
Elite Member
Santa Barbara, CA
 
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Hi Lance,

Thank you for the update.

I've been using Unirenko for quite some time, I also find it very clear and intuitive.

Question, what do you use Fisher Transform indicator for? To spot divergence?

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  #734 (permalink)
Elite Member
west palm beach florida usa
 
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wshi88 View Post
Hi Lance,

Thank you for the update.

I've been using Unirenko for quite some time, I also find it very clear and intuitive.

Question, what do you use Fisher Transform indicator for? To spot divergence?

I have just been experimenting with it for about a week. I find it gives some hints on this small timeframe when the momentum starts to die out..It doesn't lag much from what I've seen. I'm liking it so far.

Failure is not an option
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  #735 (permalink)
Elite Member
west palm beach florida usa
 
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Serif View Post
Take a look at Trading Price Action On Futures | Trading Price Action On Futures and his YouTube channel, he only uses unirenko.

Thanks. I'll check it out.

Failure is not an option
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  #736 (permalink)
Elite Member
west palm beach florida usa
 
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Today is a day that I have seen many times in Crude Oil..and have lost badly many times on, in the past. Usually, the 9 am session has begun after Crude has made a huge move down...and then it goes into a sort of consolidation. There are many false little signals to go long at support...but doing so with a small stop gets you chopped up again and again.

On these type of days, I no longer try to call the bottom. I need to wait till a clear reversal is underway and then find a good entry. Yes..eventually the reversal usually comes..but you can get stopped out a lot trying to get long too early.

Funny, the same thing doesn't happen that much in an uptrend. The uptrend moves often reverse down very sharply.

Failure is not an option
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  #737 (permalink)
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Sarasota Florida USA
 
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lancelottrader View Post
Today is a day that I have seen many times in Crude Oil..and have lost badly many times on, in the past. Usually, the 9 am session has begun after Crude has made a huge move down...and then it goes into a sort of consolidation. There are many false little signals to go long at support...but doing so with a small stop gets you chopped up again and again.

On these type of days, I no longer try to call the bottom. I need to wait till a clear reversal is underway and then find a good entry. Yes..eventually the reversal usually comes..but you can get stopped out a lot trying to get long too early.

Funny, the same thing doesn't happen that much in an uptrend. The uptrend moves often reverse down very sharply.

I find in CL it is often best to pre-define your "line in the sand" at which you are willing to buy against. Today I am looking at Tuesdays low of 40.09 and last weeks high of 39.84 which puts CL near $2 of range on the session. The latter is also close to a 38% retracement to last weeks low in the May 16 contract. The potential for a weekend announcement that may hurt short sellers may prompt short covering in to today's close.

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  #738 (permalink)
Elite Member
west palm beach florida usa
 
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Took this trade...not too sure how it will turn out though. A little late in the day.

Failure is not an option
Attached Thumbnails
The Crude Dude Oil Trading System-cl-415-16-v2.png  
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  #739 (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: 624 given, 2,437 received

Looking better now.

Failure is not an option
Attached Thumbnails
The Crude Dude Oil Trading System-cl-4-15-16-v3.png  
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  #740 (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: 624 given, 2,437 received


Target acquired.

Failure is not an option
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