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CL Day Trading: THE EDGE-Multiple Charts
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CL Day Trading: THE EDGE-Multiple Charts

  #51 (permalink)
Trading for Profit
West Coast of Florida
 
Futures Experience: Intermediate
Platform: TradeStation, Danials Trading
Favorite Futures: TF, CL, & HO HOs
 
ESFXtrader's Avatar
 
Posts: 505 since Jul 2010
Thanks: 56 given, 2,283 received

Multi-Chart Entry off 21EMA on CL

Multi-Chart Entry off 21 EMA on CL Charts.
The charts are 3 tick(r), 4 tick(r), 6 tick(r), & 177 ticks.
The next chart is the 4 tick (r) chart marked just as we trade it.
Hope you are doing well in your trading.
If not, come to the Elite area and see how we are doing. There are a lot of fine traders journaling daily there.
Good trading.
WK

PS There are certain things every Day Trader must know.
I have mentioned some in the past. I will cover some here so you will be able to avoid them at all costs.
Traders have lost more money than what was in their accounts. This usually happens because of multiple contracts held over night or without proper stops for their account size. Be prudent.
As a Day Trader, do not hold a position over night or beyond the close of the contract.
In grains, a limit down or limit up against your trade can more than cripple your trading.
If you have a trade on and are called away from your computer late in the session, what are the chances that you fail to exit the trade before close? Don't let this happen to you.
Before you shut down for the day or time period trading, make sure that you have not left a working order in a market, as it will usually get hit and entered and the results can be devastating.
One of the most important things to be aware of are the news releases. Some are political or FED related or disasters or disruptions in oil refining and the like and therefore it is good to have a way to see the latest news coming out. This may be in a chat room or the like or by way of TV, etc.
Before beginning to trade, one must be prepared as to news that comes out systematically, on a regularly basis. That can be found here: Forex News @ Forex Factory
as well as other sites.
I have been caught only once on the wrong side of the market when a news release came out and my stop was hit in less than a second and I had only 3 ticks slippage. Thank goodness. Be aware.
The one thing you can't be prepared for is the flash crash. It happens. Fat fingers kill and wipe out accounts. Don't be a statistic. Don't hold to many contracts. I know of traders who trade 50 contracts for themselves to 10,000 contracts for clients. I don't see any reason for the average trader to trade more than 20 contracts at any one time. You may see it differently until........ You never know when another fat finger will happen and cause another crash in the market.
Know that your stop can always be hit. Can you handle the loss plus slippage?

There is a lot more that can be added, but this is a good start. I will add more later in the Elite area. See you there.

Attached Thumbnails
CL Day Trading: THE EDGE-Multiple Charts-cl3-4-6tick-r-177tickscharts2014-11-07.png   CL Day Trading: THE EDGE-Multiple Charts-cl4tick-r-2014-11-07.png  

Last edited by ESFXtrader; November 8th, 2014 at 03:04 AM. Reason: PS
The following user says Thank You to ESFXtrader for this post:
 
  #52 (permalink)
Trading for Profit
West Coast of Florida
 
Futures Experience: Intermediate
Platform: TradeStation, Danials Trading
Favorite Futures: TF, CL, & HO HOs
 
ESFXtrader's Avatar
 
Posts: 505 since Jul 2010
Thanks: 56 given, 2,283 received

Chart of test

A chart is a chart is a chart.
And the answer is....
The#50 post chart is a duplicate of this one with no distinguishing features. Did anyone correctly conclude what it is?
It's CL on a 377 ticks chart. I used it for some time successfully in my trading and it still works today, as you can see.
The system just works.
Have a great weekend.
WK

Attached Thumbnails
CL Day Trading: THE EDGE-Multiple Charts-2014-11-08_1842.png  
The following user says Thank You to ESFXtrader for this post:
 
  #53 (permalink)
Site Administrator
Manta, Ecuador
 
Futures Experience: Advanced
Platform: My own custom solution
Favorite Futures: E-mini ES S&P 500
 
Big Mike's Avatar
 
Posts: 46,238 since Jun 2009
Thanks: 29,350 given, 83,218 received


Moderator Note


With this post, I am closing this thread and journal and I will instruct ESFXtrader to not continue posting on futures.io (formerly BMT). If he does, he will be banned.

The short reason is that I do not trust his motives for posting. I have been deceived and flat out lied to before, so although I have questioned ESFXtrader in the past, I no longer believe his responses. Instead, I look at his posts in total to make the decision about his goals and intentions. I believe he is only here for promotional reasons.

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