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The Crude Dude Oil Trading System
Started: by lancelottrader Views / Replies:115,670 / 863
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The Crude Dude Oil Trading System

  #811 (permalink)
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Okina View Post

I started trading 2RB before I found this forum and your journal. I have been told so many time that I trade wind or noise that the real "big money" is not here that I have lost some time in many directions.

No more dreams of a being a "big boy" ridding the waves, just a consistent small retail trader.

Excellent trading!

I would suggest that you keep looking at the bigger picture and waves. They can give you the bigger picture to help on your intra-day trading.

Once you get good at identifying the larger 2-3 day or longer moves, try using USO options to test out trading the longer time frame. You can start small with 1 contract fairly inexpensively. Your stop is what you pay to buy the call/put, so you can define your total risk before you place the trade. Once you have some success, you can apply that to holding for larger moves on crude when you see them.

I've noticed a pattern the last couple of weeks. Plenty of pre-market and opening moves for good 20-50 tick moves. Then it settles in to the bigger move of the day.

I'm not sure if Lance does this, but I pretty much end my CL trading before 11 am PDT, unless I am already in a larger trade. All the juice is gone by then and it usually just chops or ranges.

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  #812 (permalink)
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Okina View Post
yes, that is the one you see on my charts as High/Low bars or in Lancelottrader as a line of the closes.



Thx. So on a 2RB chart your velocity arrows are just simply a measure of the bar duration time compared to the average of the previous 25 bars ie the number of trades or volume within the bars has no bearing on the printing of an arrow. Correct?


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  #813 (permalink)
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Hickock View Post
Excellent trading!

I'm not sure if Lance does this, but I pretty much end my CL trading before 11 am PDT, unless I am already in a larger trade. All the juice is gone by then and it usually just chops or ranges.

I don't agree with this (Unless you meant a different time.) 11 am PDT is about 8am eastern standard time and the CL pit session doesn't even open until 9am est. I find usually the best moves are often in that opening hour. Someyime 11:00 am est brings a move or 11:20.. I have mapped out through 5 years of statistics some pretty precise time periods when moves often occur...almost down to certain 10 minute intervals that happen time and time again. I call these hotzone times. I am not going to mention all of them, but between 9:35 est and 9:45 there is often a nice push.

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  #814 (permalink)
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lancelottrader View Post
I don't agree with this (Unless you meant a different time.) 11 am PDT is about 8am eastern standard time and the CL pit session doesn't even open until 9am est. I find usually the best moves are often in that opening hour. Someyime 11:00 am est brings a move or 11:20.. I have mapped out through 5 years of statistics some pretty precise time periods when moves often occur...almost down to certain 10 minute intervals that happen time and time again. I call these hotzone times. I am not going to mention all of them, but between 9:35 est and 9:45 there is often a nice push.


Mix up on the time zones. 11am PDT is 2pm EDT. I am in California on the west coast.

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  #815 (permalink)
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Hickock View Post
Mix up on the time zones. 11am PDT is 2pm EDT. I am in California on the west coast.

Sorry, I made a mistake there.

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  #816 (permalink)
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lancelottrader View Post
Sorry, I made a mistake there.

No worries. I'm using a tool that is in GMT. Make things confusing as well.

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  #817 (permalink)
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lancelottrader View Post
I don't agree with this (Unless you meant a different time.) 11 am PDT is about 8am eastern standard time and the CL pit session doesn't even open until 9am est. I find usually the best moves are often in that opening hour. Someyime 11:00 am est brings a move or 11:20.. I have mapped out through 5 years of statistics some pretty precise time periods when moves often occur...almost down to certain 10 minute intervals that happen time and time again. I call these hotzone times. I am not going to mention all of them, but between 9:35 est and 9:45 there is often a nice push.

The 9:35 move is a reaction to the open of the NYSE and the other equity markets in NY

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  #818 (permalink)
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IzhakHaim View Post
The 9:35 move is a reaction to the open of the NYSE and the other equity markets in NY

That's correct...After about 10 minutes of the 9:30 open, you can often get a nice move . These sometimes seem to come out of nowhere and can pop close to 50 ticks very quickly. You have to be nimble and jump in, because they often move vertically without any immediate pullback.

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  #819 (permalink)
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And same happened many times right at or right after 11am EST with the EU market closing.

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And you can find the moves again almost daily at 2:00 and 2:30 PM (EST) with the original pit time closing.

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