I haven't been posting because I'm testing out trading 9 range instead of 5 min. 5min was mostly profitable for me but the risk was often $300-400. So I'm hoping by trading a smaller timeframe I can do more scalping and have lower risk. So far it's going well.
Earlier in the thread someone asked if about CL rollover and I replied "when the 2nd month contract volume is greater than the front month".
Anyone know about when this happens? Is it the same day like in the indexes? Or is it variable? I'm going over historical charts and sometimes I'm not sure which to use.
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The following user says Thank You to Big Mike for this post:
I'm now doing semi-naked trading. After reading the books book I'm interested in having the 20 EMA on my chart. I don't use it for signals, but just to remind me of where price is and if it's trending , losing momentum, etc. Not really necessary but if you trade 3 markets it makes things quicker. I do not use the dots and will probably turn them off. I'm also not really using volume most of the time but volume is like an old friend so he comes along for the ride.
Here's my first CL trade. Price made a couple lower lows so I entered on a new one. Still open.
I took a break from posting here to see if anyone else would share. SO far not much. If I don't see some participation I'll probably stop cause I don't like talking to myself and it takes time to do it.
The other reason I took a few days off is I was experimenting with range charts and so far I find 10 range and 5 minute pretty close (before the open) so I'm currently using both until I decide.
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