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The CL Crude-analysis Thread
Started:December 17th, 2014 (02:33 PM) by tturner86 Views / Replies:126,291 / 1,758
Last Reply:8 Hours Ago (08:59 PM) Attachments:450

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The CL Crude-analysis Thread

Old March 31st, 2015, 02:47 PM   #861 (permalink)
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mfbreakout View Post
Staying with the trend and keep adding to original position.



This sounds and look all very neat and clean but one has to endure 100 ticks bounces in between. A trader also has to manage number of cars from original short and number of new cars added subsequently. Every time a short is covered, original shorts gets covered first.

I know you trade other instruments, or at least you use to.

As a swing trader the hardest part is exhibiting patience and letting the trade work out. For me I can't do it if I only concentrate on one market/instrument. So I trade a lot of different things. I currently have 24 open positions, most to the long side but some shorts (gold). Everyone has to find what works best for them and attempt to make it work.

I take a few intraday trades in NQ and TF when I am sitting in front of the computer. Most of them turn into swings at some point though. Honestly the intraday trading hasn't yielding much profit over the last 12 months and I should stop or work harder to improve it. It does take some of the focus off my larger swing positions.

There are times where my trading is bad or I get frustrated at the way I have been reading the market and I close everything out for a few days but for the most part I am generally in the market at all times.

One thought that worked well for me in the past was to use options/ETFs around the same instrument as a way to take my mind off watching the same chart all day. When I was only trading ES, I also traded a lot of options on various SPX related ETFs as well as the ETF's themselves. I still use a lot covered calls to close many of my long positions.

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Old March 31st, 2015, 02:55 PM   #862 (permalink)
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FWIW the close in CL will be important today and the followup on API report. Its pulled back to where the move started for the 5172 MCVPOC level. If this level holds tommorow then possibility of 4996 area tommorow. Or else down to 47-4650 maybe even more.

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Old March 31st, 2015, 02:56 PM   #863 (permalink)
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wirechild View Post
I know you trade other instruments, or at least you use to.

As a swing trader the hardest part is exhibiting patience and letting the trade work out. For me I can't do it if I only concentrate on one market/instrument. So I trade a lot of different things. I currently have 24 open positions, most to the long side but some shorts (gold). Everyone has to find what works best for them and attempt to make it work.

I take a few intraday trades in NQ and TF when I am sitting in front of the computer. Most of them turn into swings at some point though. Honestly the intraday trading hasn't yielding much profit over the last 12 months and I should stop or work harder to improve it. It does take some of the focus off my larger swing positions.

There are times where my trading is bad or I get frustrated at the way I have been reading the market and I close everything out for a few days but for the most part I am generally in the market at all times.

One thought that worked well for me in the past was to use options/ETFs around the same instrument as a way to take my mind off watching the same chart all day. When I was only trading ES, I also traded a lot of options on various SPX related ETFs as well as the ETF's themselves. I still use a lot covered calls to close many of my long positions.


Anyone who can teach me how to trade options- i will be forever grateful.



My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.
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Old March 31st, 2015, 03:02 PM   #864 (permalink)
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A story of 2 accounts. One with maxium position size and the other one with smaller position size. In the end we all trade our CONVICTIONS. As a RULE i am always out of counter trend trade after a certain % of ATR etc. and then get ready to add or put on a trade with macro trend into the bounces. If i can get 40-60 ticks on a macro counter trade, i count my blessings and get out.

Could get courage to put on ONLY 2 cars. Out 1 48.34. Between 2 to 2.30 pm on most days it's just a gamble ( for me) especially on Tuesday's and Wednesdays. Into the pit close Binary options comes into play. As long a trader is aware of this one can stay away from being a DAY DREAMER.



My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.
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Old March 31st, 2015, 03:05 PM   #865 (permalink)
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Incredible interview a must watch for any trader.

https://www.youtube.com/watch?v=K4d6LmNDVFY

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Old March 31st, 2015, 03:17 PM   #866 (permalink)
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Anyone who can teach me how to trade options- i will be forever grateful.

I highly recommend dough.com, part of tastytrade and integrated with TDAmeritrade. They have a great video course on options and then you can follow some of the folks form tastytrade to see how they trade them. Great free education source IMO.

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Old March 31st, 2015, 03:34 PM   #867 (permalink)
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Could get courage to put on ONLY 2 cars. Out 1 48.34. Between 2 to 2.30 pm on most days it's just a gamble ( for me) especially on Tuesday's and Wednesdays. Into the pit close Binary options comes into play. As long a trader is aware of this one can stay away from being a DAY DREAMER.

So courge to put on 2 cars was the correct call. Out 48.21. Did not add to shorts as i was looking for a FLUSH up to add to he shorts like the one we had yesterday into the close. I am already short enough cars with average price of 48.90.

I will hit flat tab on my shorts if after API report CL gets above 48.30 area or before API report and look at things from fresh perspective. every trader is PRONE to gettng married to one position/bias and then getting taken to the cleaners.

Why 48.30 area? i do not want to give up all the gains on shorts from 48.90 area. I have given enpough time to shorts. There may be something lurking out there ( Iran deal etc). One can always put a new trade on.



My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.

Last edited by mfbreakout; March 31st, 2015 at 03:50 PM.
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Old March 31st, 2015, 03:37 PM   #868 (permalink)
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I highly recommend dough.com, part of tastytrade and integrated with TDAmeritrade. They have a great video course on options and then you can follow some of the folks form tastytrade to see how they trade them. Great free education source IMO.

I have watched everything at dough and other websites. I have a strong feeling that i am too much into my trading and just do not have mental capacity left to learn something new from scratch. I am put the trade on ( after learning basics) and then learn type of trader. I just have not been able to come up with set ups to put an option trade on and thus my learning/knowledge is right where it was a year ago.



My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.

Last edited by mfbreakout; March 31st, 2015 at 03:43 PM.
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Old March 31st, 2015, 04:45 PM   #869 (permalink)
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Incredible interview a must watch for any trader.
https://www.youtube.com/watch?v=K4d6LmNDVFY

Classic. Old farmer talking about trading.
Almost everything he says is Gold though.
Little surprised it doesn't have more than 47k views.

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Old March 31st, 2015, 05:44 PM   #870 (permalink)
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SMCJB View Post
Classic. Old farmer talking about trading.
Almost everything he says is Gold though.
Little surprised it doesn't have more than 47k views.

That's because most people are looking for the holy grail and the new best indicator and few people care to understand what he is really saying esp the part about cutting losers short and about winning and losing streaks

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