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The Crude Dude Oil Trading System


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The Crude Dude Oil Trading System

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  #501 (permalink)
 lancelottrader 
Legendary Market Wizard
west palm beach florida usa
 
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MetsFanTrader View Post
Good luck. I made 55 ticks on the CL today. Glad to hear you did well.

Great job!

Failure is not an option
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  #502 (permalink)
 lancelottrader 
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lancelottrader View Post
Going to hold this sucker for 20...win or lose.

It doesn't seem to want to move..but holding anyways.

Failure is not an option
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  #503 (permalink)
 lancelottrader 
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Maybe no buyers at this price? Maybe I am being stubborn. getting out.

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  #504 (permalink)
 lancelottrader 
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I realize I sound like a Schizophrenic right now....lol

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  #505 (permalink)
 lancelottrader 
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Haven't got out yet..

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  #506 (permalink)
 lancelottrader 
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C'mon Baby..

Failure is not an option
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  #507 (permalink)
 lancelottrader 
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Worth waiting for the 20 ticks... 120 tick day..but Cl really taking off now. Should have stayed in.

Failure is not an option
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  #508 (permalink)
 lancelottrader 
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Well...it was kind of fun posting while being in trades...kind of like live theater ..where if you flop..everyone sees it in real time. But, it can be distracting and take a little away from proper trade management, so I'm not sure if I will do it again ..anytime soon. But today is the type of day where you have momentum and volume ..and it makes most of my setups have a much higher probability of winning. These days don't happen all the time..but when they do, you have to "go for it."

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  #509 (permalink)
 sandptrader 
Valdosta, GA. U.S.A
 
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lancelottrader View Post
Worth waiting for the 20 ticks... 120 tick day..but Cl really taking off now. Should have stayed in.

Great Day Congratulations @lancelottrader
1. 30 ticks
2. 10 ticks
3. 10 ticks
4. 10 ticks
5 10 ticks
6. 20 ticks
7. 10 ticks
8. 20 ticks

Total 120 ticks
$ 6,000
WOW....Scalping for small Targets add up.

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  #510 (permalink)
 lancelottrader 
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sandptrader View Post
Great Day Congratulations @lancelottrader
1. 30 ticks
2. 10 ticks
3. 10 ticks
4. 10 ticks
5 10 ticks
6. 20 ticks
7. 10 ticks
8. 20 ticks

Total 120 ticks
$ 6,000
WOW....Scalping for small Targets add up.

Thank you. I was trying on a lot of those to get at least 20..but I ended up taking 10 when they appeared to be reversing...So, many more 10 tick scalps than usual..But it goes to show, it doesn't really matter how you do it..it's how you end the day. But honestly, for someone without a ton of experience..I don't recommend just trying to always scalp 10 ticks.

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  #511 (permalink)
emini2000
Atlanta GA USA
 
 
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No trading today?

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  #512 (permalink)
 lancelottrader 
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emini2000 View Post
No trading today?

Yes..I traded today...even though it was my birthday. I made 50 ticks. I don't post every day i trade...I just felt like it yesterday.

Failure is not an option
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  #513 (permalink)
 lancelottrader 
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lancelottrader View Post
Yes..I traded today...even though it was my birthday. I made 50 ticks. I don't post every day i trade...I just felt like it yesterday.

From today...

Failure is not an option
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  #514 (permalink)
emini2000
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Thanks!

Trading your usual 5 lot or so it appears?

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  #515 (permalink)
 lancelottrader 
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emini2000 View Post
Thanks!

Trading your usual 5 lot or so it appears?

yes...and since you asked..i just took this closing market trade 2 minutes ago..for a 10 tick win..making a little over 60 ticks for the day.

Failure is not an option
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  #516 (permalink)
 lancelottrader 
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But...I don't plan on posting anymore while trading..just did here one last time since this one was a no brainer scalp..

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  #517 (permalink)
emini2000
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Great day. You provide much needed inspiration.

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  #518 (permalink)
 sandptrader 
Valdosta, GA. U.S.A
 
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lancelottrader View Post
Yes..I traded today...even though it was my birthday. I made 50 ticks. I don't post every day i trade...I just felt like it yesterday.

Happy Birthday @lancelottrader....another Great day...Hope the Best for you my friend.
Enjoying your thread on your Trading System.

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  #519 (permalink)
 MichaelH 
Munich Germany
 
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Happy Birthday Lancelottrader
All the best and many many crude ticks

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 jz166 
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what an awesome thread!
thanks Lancelottrader!

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  #521 (permalink)
 lancelottrader 
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sandptrader View Post
Happy Birthday @lancelottrader....another Great day...Hope the Best for you my friend.
Enjoying your thread on your Trading System.

Thanks a lot. I appreciate your nice words.

Failure is not an option
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 lancelottrader 
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Ok..I know I said I wouldn't post while trading..but here's one I'm in now while I'm waiting for my 30 tick target to get hit.

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 lancelottrader 
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Target acquired.

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  #524 (permalink)
 unik 
detroit, mi
 
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Very nice trade.

Sent from my SAMSUNG-SM-N920A using Tapatalk

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  #525 (permalink)
 unik 
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Yeah, I was in that short trade as well and broke even after getting 10 ticks up.

Sent from my SAMSUNG-SM-N920A using Tapatalk

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  #526 (permalink)
 lancelottrader 
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Two more trades ..Went short and was up about 12 ticks and then it reversed and I broke even. Then a long..that got up 8 ticks and reversed..also broke even, Conditions seem weak for the moment.

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  #527 (permalink)
 lancelottrader 
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One of the least volatile post oil report days I have seen...Probably because it's the day before thanksgiving...I may call it a day.

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 lancelottrader 
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Wondering if this little range between 42.50 and 42.25 will get taken out.

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  #529 (permalink)
 lancelottrader 
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Went in this little scalp after 12....it's really stalling though..

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 lancelottrader 
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Target reached ..40 ticks..Done for the day..

Happy Thanksgiving...to those here that celebrate it. To the rest..have a great rest of the week.


Wow...Now oil is taking off....Cl is a tricky Son of a b..ch!

Failure is not an option
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  #531 (permalink)
 lancelottrader 
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Guess it didn't really take off that much...more trickery from this sinister instrument...lol.

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  #532 (permalink)
hardyli
Auckland New Zealand
 
 
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lancelottrader View Post
Target reached ..40 ticks..Done for the day..

Happy Thanksgiving...to those here that celebrate it. To the rest..have a great rest of the week.


Wow...Now oil is taking off....Cl is a tricky Son of a b..ch!

Hi lancelottrader,

Been a long time lurker. Wanted to congratulate you ( I won't say finally making it, but more like...) on getting closer to your goals.

I've really been inspired by your dedication and perseverance through it all.

I've noticed, lately you have been aiming for bigger targets more often. Have you tweaked your strategy from the 10ticks 1:1, to 10ticks 1:4 risk/reward?

Happy Thanks Giving!
Hardy

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  #533 (permalink)
 lancelottrader 
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hardyli View Post
Hi lancelottrader,

Been a long time lurker. Wanted to congratulate you ( I won't say finally making it, but more like...) on getting closer to your goals.

I've really been inspired by your dedication and perseverance through it all.

I've noticed, lately you have been aiming for bigger targets more often. Have you tweaked your strategy from the 10ticks 1:1, to 10ticks 1:4 risk/reward?

Happy Thanks Giving!
Hardy

Thank you for your comments. To answer your question, my targets are pretty adjustable depending on how much volume and momentum I am seeing on a particular day.
Ultimately, I would prefer my targets to be at least 30 ticks...bur often the market has other plans. Oil is the type of instrument that has great potential to move pretty far very quickly. It also has a tendency to react strongly to small areas of support and resistance. I always map out these areas carefully..and they are often undetectable on most conventional candlecharts. So when price, in CL, hits these areas..it can suddenly bounce and go 15 to 30 ticks in the opposite direction. This can be very confusing to someone "going with the trend". Also..the bounce can start triggering peoples' stop losses and order flow can get to the point where a huge reversal happens. Again, these type of events make CL very tricky for many people to trade.

But since I am very familiar with this instrument, I get a pretty good idea when this can happen. So often I put my targets around these levels.
In the opening hour, there is more volume..on average..and that's when 30 to 50 tick targets are more realistic. Later on when volume dies down..10 ticks are easier to get. My win ratio has gotten fairly good recently so my 10 tick scalps tend to add up well. Then if I get a couple of 20 or 30 tick wins, I end up with a nice day. Of course my losses only tend to be 10 to 12 ticks at the most...occasionally 15.

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 jas12 
toronto canada
 
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Hi lancelottrader
I have looked ur all post I just want to ask if I want to subscribe only rampage v7 only is it work of I need logical forex too for trading and what is ur stoploss ?
Thanks
Jas

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  #535 (permalink)
 lancelottrader 
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jas12 View Post
Hi lancelottrader
I have looked ur all post I just want to ask if I want to subscribe only rampage v7 only is it work of I need logical forex too for trading and what is ur stoploss ?
Thanks
Jas

No..Rampage is a totally different program than Logical Forex..so you don't need to have one for the other.
My stoploss is usually between 10 to 12 ticks...but there are times when I need 15 ticks. In some instances I go as high as 20 ticks..but that is rare.

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  #536 (permalink)
emini2000
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lancelottrader View Post
No..Rampage is a totally different program than Logical Forex..so you don't need to have one for the other.

When you say 'don't need to have one for the other', do you mean that they are both useful and compliment each other? How do they work in tandem? How do you use them to compliment each other? If there is a post where you explain this you can just direct me there. Just a general short explanation would be fine.

I'm in the process of going through the whole thread a post at a time and taking notes and watching the videos and only on page 6 so far, so there's a lot I haven't gotten to yet.

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  #537 (permalink)
 jas12 
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lancelottrader View Post
No..Rampage is a totally different program than Logical Forex..so you don't need to have one for the other.
My stoploss is usually between 10 to 12 ticks...but there are times when I need 15 ticks. In some instances I go as high as 20 ticks..but that is rare.

So if in starting I want one system which one is good rampage or logical forex? Thanks for reply

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  #538 (permalink)
 lancelottrader 
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emini2000 View Post
When you say 'don't need to have one for the other', do you mean that they are both useful and compliment each other? How do they work in tandem? How do you use them to compliment each other? If there is a post where you explain this you can just direct me there. Just a general short explanation would be fine.

I'm in the process of going through the whole thread a post at a time and taking notes and watching the videos and only on page 6 so far, so there's a lot I haven't gotten to yet.

I am going to answer this this best I can. I have received quite a few Private Messages lately and they basically all ask the same thing..."Where can I get those indicators you use?" and a few say, "I haven't had a chance to read most of your thread..so could you tell me how to trade like you...thanks."

Now, I must admit I haven't had a chance to respond to a few of these PMs...so sorry for that..but I think I will go back and just direct them to this post so I don't have to type the same thing over...and over.

First of all, a little disclaimer..I am not affiliated with any of the vendors whose software I use. I am not recommending them or promoting them. I pay to subscribe to these and there may be ways to achieve something similar for free, but I haven't researched that very closely.

The main chart you see in my posts on the 2 range setting is mostly comprised of Logical Forex indicators. I got them about 6 years ago when I was trying to scalp the Euro/usd currency pair. I think if someone want to scalp forex..it's a very good program for that. I have a totally different system for trading futures...but I like their charts. The point is when you watch price move on a certain type of chart for several years, you can start to see patterns develop. From those patterns, I put together the system I now use. However, for most traders..trying to trade off a 2 range chart without understanding the context you need from higher timeframes..you will probably not get good results. You have to know when the conditions of the market are conducive for the setups to work well. The Logical Forex charts have several features that I feel are able to convey those conditions. Does that mean other Traders will be able to use them the same way I do? Indicators are just a way for people to interpret what the market is doing. My brain is used to these and therefore I process the market through a consistent point of reference. Many traders constantly switch their charting and indicators..looking for that perfect combo. The problem is they are never seeing the market in the same consistent way.

There is no magic indicator that will tell you when to enter and when to exit. I consider my brain to be my best indicator.

The Rampage indicators are good for identifying a trend..and also psychologically helping one stay in a trade longer. There are days when if you take their signals on a 1 minute chart and stay in for the signal change..you have 100 to 200 tick moves. In fact, I probably should ride out more of these Rampage trends. There are other days where many signals fail. The difference of course are those pesky market conditions. The trick is to know when those huge volume days are working out..and to ride out those big trends on Rampage. I need to do more of that if I want some really huge winning weeks...but I think I'm doing ok right now. Now, there is a similar free indicator on here called Supertrend...It's not exactly the same..but it's free and accomplishes almost the same thing.

The other indicator is called Tick Strike and it's an audible and visual order flow indicator. When there is heavy buying or selling..it makes a rapid ticking sound along with a meter with bars that light up. The sound and the color of bars is different depending on whether sell orders are coming through or buying orders. The greater the orders ..the faster the ticking and the higher the amount of bars light up. I find this indicator very helpful..but again I pay for it. Is there something like it for free? I have no idea...but I've never seen it. Also, if you don't know how to use it..it can fool you into getting into trades that don't work out. Order flow can be tricky..Sometime you get a flurry of orders..price starts to move..and then it fizzles. There are no sure thing indicators. They are just tools that help decipher the price action. It's up to the person to interpret all the clues from the indicators and make the best informed decision possible.
The whole idea is to take what one believes to be the highest probability setups, manage them as well as possible..and fully accept the risk of losing..and not get too disturbed when the inevitable losses occur.

For those who say, please tell me how to trade like you....I have made numerous videos and also detailed my system in many posts. If someone takes the time to review some of the material and then has specific questions, I will be happy to answer them.

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 LukeGeniol 
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Logical forex is a long old story that I remember since i started trading. I see that it's still out there.
Logical forex, if i remember well, took inspiration from another system created by a Canadian guy on a forex forum that was used in the timeframe of one second. Then this system turned out, that also provides a kind of support and resistence and use the range timeframe.
And lancelottrader seems an enthusiastic.
Logical forex give you no edge. Is a sort of scalping system which has no foundations. Sort of multiMAs like raimbow...and....boh.
Surely it cannot be a trading system...

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 lancelottrader 
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LukeGeniol View Post
Logical forex is a long old story that I remember since i started trading. I see that it's still out there.
Logical forex, if i remember well, took inspiration from another system created by a Canadian guy on a forex forum that was used in the timeframe of one second. Then this system turned out, that also provides a kind of support and resistence and use the range timeframe.
And lancelottrader seems an enthusiastic.
Logical forex don't give you no edge. Is a sort of scalping system which has no foundations. Sort of multiMAs like raimbow...and....boh.
Surely it cannot be a trading system...

If you read my post, I didn't say I use their system now..although I did get decent results from it. I just said I still use the charting...and if you have followed my thread, I don't seem to be failing...
The Canadian guy you're talking about had the Cyrox Rainbow scalping..so I know about that too.

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 lancelottrader 
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lancelottrader View Post
If you read my post, I didn't say I use their system now..although I did get decent results from it. I just said I still use the charting...and if you have followed my thread, I don't seem to be failing...
The Canadian guy you're talking about had the Cyrox Rainbow scalping..so I know about that too.

And the only similarity between Cyrox and Logical Forex is the small time frames..Cyrox used a 1 second chart and Logical used a 1 range chart. Besides that, the systems are different. I attended a $1000 Cyrox seminar once..so I know the system well.

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 LukeGeniol 
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@lancelottrader I hope you don't use it as main system, because otherwise you will fail. I did not followed all your posts, but from the last week, and what you posted was some trades with logical forex, and and apart from that does not prove anything, I do not think it's so useful post trading without explaining why. The result is, as it happened, that other members ask about the trading system you use and whether it is valid or not, and not about what is the foundation of your tradin plan.

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 lancelottrader 
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@lancelottrader I hope you don't use it as main system, because otherwise you will fail. I did not follow all your posts, but from the last week, and what you posted was some trades with logical forex, and and apart from that does not prove anything, I do not think it's so useful post trading without explaining why.

I have made numerous videos and posts showing all my trades...even recordings of trades while I take them with detailed explanations why I go into them. In case that doesn't translate well to you..that means I am literally showing the trades as I enter them and you see them hit the target. I don't know anyone else doing that. I already have explained that I don't use Logical Forex system..so apparently there is a language barrier here.

And honestly..I don't need to "prove" anything..since I am not selling anything. I don't mind criticism and I welcome any debate when it comes to trading..but when someone skips 4 years of a thread and reads one week..they are in no position to comment.

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 LukeGeniol 
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lancelottrader View Post
I have made numerous videos and posts showing all my trades...even recordings of trades while I take them with detailed explanations why I go into them. In case that doesn't translate well to you..that means I am literally showing the trades as I enter them and you see them hit the target. I don't know anyone else doing that. I already have explained that I don't use Logical Forex system..so apparently there is a language barrier here.

And honestly..I don't need to "prove" anything..since I am not selling anything. I don't mind criticism and I welcome any debate when it comes to trading..but when someone skips 4 years of a thread and reads one week..they are in no position to comment.

I'm glad you posted this, so other members that come in, like I done perhaps wrongly, and see your last "live" posts know that there are a lot more to see and learn in this thread about your way of trading, and not foucus on logic forex.
Anyway my intention was not to criticize you, but rather warn others not to get excited about the logical forex seeing some live trades.
I apologize for the misunderstanding.

Take your Pips, go out and Live.
Luke.
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 lancelottrader 
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Glad I kept watching Cl...was able to take advantage of this extreme strength happening right now,,when you see almost 9000 contracts coming in in less than a minute..you know something is definitely up.. Don't know what news came out or care why...just glad I was on board.

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 lancelottrader 
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Now playing the reversal...order flow stops getting triggered.

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 lancelottrader 
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Got out of the short with 20 ticks. went back in long.. We'll see what happens

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It's getting there

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 lancelottrader 
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A good day...

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 lancelottrader 
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Just a chart showing a few of the trades from today.. a 61 tick winner. a 20 tick winner and a 18 tick winner

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Great trading!

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emini2000 View Post
Great trading!

Thank you. When there's momemtum like this..you can get some decent opportunities..if you are not afraid to act quickly.
If you sit there and go, "Hmmm...I wonder what's happening right now..my 5 minute candle seems to be getting a bit long..perhaps this requires further investigation..Gee..let's see what my useless. lagging indicators have to say about all this..." Meanwhile 100 ticks later... lol

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 atata 
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Well first I was zagged and zigged a bit in some range bound action and being on the wrong side a couple of times so I was around BE.
Than cl broke above 40.87 /ONH/.
I was watching the price action on the Jigsaw DOS and cl did trade below .87 but buyers quite force fully did push it back above therefore the buy side seemed quite strong to me /well you never know with this beast/ regardless I went long at .90 than added after a pull back when I saw strong buying at .88 having my stop at .77 with no targets... got over 50 ticks per contract. Nice crazy move and being on the right side was very nice indeed whatever the cause was. I did not see such move for a while when basically from ~41.10 through ~41.30 was no sellers at all just buyers.
Interesting enough usually - in my experience - when price runs away like that the "gap" will be back filled as it happened today as well.

Kind regards,

atata

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 atata 
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lancelottrader View Post
Just a chart showing a few of the trades from today.. a 61 tick winner. a 20 tick winner and a 18 tick winner

congrats, I've bailed before you did... nicely done!!!

atata

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lancelottrader View Post
Just a chart showing a few of the trades from today.. a 61 tick winner. a 20 tick winner and a 18 tick winner

Good job there!

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 Okina 
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I've just read the 56 pages of your journal and I wish to thank you for it.

Good job.


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 lancelottrader 
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A couple of scalps this AM..a 15 tick and a 10 tick winner.

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 jas12 
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what is ur stoploss? this is great post
can u put one more video please

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 lancelottrader 
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jas12 View Post
what is ur stoploss? this is great post
can u put one more video please

Stoploss is usually 10 to 12 ticks...Once in a while 15 ticks.

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 jas12 
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anna supertrend and urs indicatore too much different?

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 lancelottrader 
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jas12 View Post
anna supertrend and urs indicatore too much different?

What you see here on this chart are Rampage indicators...and yes, fairly similar to Ana Supertrend.

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 lancelottrader 
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Took a couple of losses and a few small wins. About 34 ticks so far..May call it a day.

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 lancelottrader 
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This was a little TF scalp on SIM for 10 ticks. I've been getting some pretty good results on TF trades, even though I'm mainly focused on Cl. So, I don't give it my total attention.
Another month of good SIM TF trades and I will go live on it.

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 lancelottrader 
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Overall today on Cl was a day that if you missed the big move down, there wasn't much more to do than take 10 tick scalps.

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 lancelottrader 
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jas12 View Post
can u put one more video please

Ok...since you asked nicely...lol . One more recap video.


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 MichaelH 
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Thanks a lot lancelottrader,
i highly appreciate your videos even if you think its repetitive. I watch all of yours in this thread and yes your setups are described nicely. Interesting for me was to see how you handle your system in this high volatile market conditions :big grin:

Regardless what people say about trading methodology, stop setting and so (all the comments you made on the video) - this thread clearly shows the development you took and to become a consistent and profitable trader.

best
Michael

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 lancelottrader 
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MichaelH View Post
Thanks a lot lancelottrader,
i highly appreciate your videos even if you think its repetitive. I watch all of yours in this thread and yes your setups are described nicely. Interesting for me was to see how you handle your system in this high volatile market conditions :big grin:

Regardless what people say about trading methodology, stop setting and so (all the comments you made on the video) - this thread clearly shows the development you took and to become a consistent and profitable trader.

best
Michael

Thank you so much, Michael. I appreciate it.

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 steve2222 
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lancelottrader View Post
Ok...since you asked nicely...lol . One more recap video.

Thanks Lance.

I appreciate you taking the time to produce a video covering the actual trades and posting for the benefit of us all.

Nicely done.

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 mrmuggins 
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lancelottrader View Post
Ok...since you asked nicely...lol . One more recap video.


@lancelottrader

This was a very good video and I agree with everything you said. And I will leave it that.

So well done and keep it up. You deserve your success after all the hard work you have put in.

Regards,

Dudley

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 wshi88 
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Great video, real nice trading system you have there.

Question:

Do you manually draw those support/resistance levels, or your indicator does it? If indicator, do you mind telling us what indicator you use for that purpose?

Thanks again.

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 lancelottrader 
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wshi88 View Post
Great video, real nice trading system you have there.

Question:

Do you manually draw those support/resistance levels, or your indicator does it? If indicator, do you mind telling us what indicator you use for that purpose?

Thanks again.

The Logical Forex software draws many of the areas..and I color code the one's I feel will have the greatest reaction to price.

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 lancelottrader 
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Just passed by my desk and saw a little pop that looked like a no brainer. Scalped another 10 for a total of 80 ticks.

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 CinderellaMan 
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lancelottrader View Post
Just passed by my desk and saw a little pop that looked like a no brainer. Scalped another 10 for a total of 80 ticks.

Great job. I made 50 on the CL today, some of our trades look similar, but Im still taking way too many trades. Have to resist the urge to get into less than optimal trades that end up being low volume chops, but Im getting there. Thanks for the vid.

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 lancelottrader 
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MetsFanTrader View Post
Great job. I made 50 on the CL today, some of our trades look similar, but Im still taking way too many trades. Have to resist the urge to get into less than optimal trades that end up being low volume chops, but Im getting there. Thanks for the vid.

Great job! 50 ticks is a great day..in my opinion.

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 CinderellaMan 
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lancelottrader View Post
Great job! 50 ticks is a great day..in my opinion.

Agreed, remember I want to average 50 a week, so Im happy. Just got to stay out of the chop, its harder than I thought it was gonna be lol

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 lancelottrader 
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MetsFanTrader View Post
Agreed, remember I want to average 50 a week, so Im happy. Just got to stay out of the chop, its harder than I thought it was gonna be lol

If you can average 50 ticks a week...you will be better than the vast majority of retail traders out there..and you will make very good money.

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 CinderellaMan 
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lancelottrader View Post
If you can average 50 ticks a week...you will be better than the vast majority of retail traders out there..and you will make very good money.

Thank you for the encouragement. If I do get there any time soon I owe a lot of it to you for your great, great thread and information. Thanks again.

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 paps 
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good and great journal. was pointed this way to take a peek. will follow along. am a scalper...but winning trades sets in a bias.

will follow and check the full thread. Like it that you have small targets....but many.

cheers and best. Thnx for sharing

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 Sk8ter 
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lancelottrader View Post
Ok...since you asked nicely...lol . One more recap video.


@lancelottrader. I really enjoy your posts, especially the videos and have learned a lot from them. Congratulations on your well deserved success. I have a question on the video you posted today. You took a long around 9:41 am EST. Iím wondering if you could provide a bit more insight into what gave you the confidence to go long. CL had been trending down from around 7am so my bias was leaning towards shorts. Then there was sideways chop/consolidation between 9:10-9:30 am. Price then broke lower out of this consolidation and touched one of your price magnets twice before taking off long.

Did you start giving some thought towards a potential long when that pause occurred? Or, did the two touches of the price magnet without follow-through prompt you to take that long? I thought it was a great entry and just trying to understand your thought process. I didn't think about a long until quite a bit later after your entry. Thanks a lot.

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 lancelottrader 
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Sk8ter View Post
@lancelottrader. I really enjoy your posts, especially the videos and have learned a lot from them. Congratulations on your well deserved success. I have a question on the video you posted today. You took a long around 9:41 am EST. I’m wondering if you could provide a bit more insight into what gave you the confidence to go long. CL had been trending down from around 7am so my bias was leaning towards shorts. Then there was sideways chop/consolidation between 9:10-9:30 am. Price then broke lower out of this consolidation and touched one of your price magnets twice before taking off long.

Did you start giving some thought towards a potential long when that pause occurred? Or, did the two touches of the price magnet without follow-through prompt you to take that long? I thought it was a great entry and just trying to understand your thought process. I didn't think about a long until quite a bit later after your entry. Thanks a lot.

There were a few factors involved in the entry. First at close to 9 am est, I felt we were starting see a possible trend change at around the 36.65 area. Price made an initial impulse wave long of about 45 ticks...My orderflow indicators showed some decent buying going on in that move.
One of my preferred setups is the first pullback/re-entry after a fresh, new trend reversal. Keep in mind, I'm not waiting for the close of a 5 minute chart..or some lagging indicator to tell me I have a new fresh trend underway.
So price pulled back to around 36.90 from 37.10 (which was around a 50% fib pullback)..touched twice to form a W. That is one of my setup types and then my entry is on the break of the black spine. My Tick Strike order flow indicator also began to signal buy orders coming in...my 10 second volume chart shows buy volume accumulating (you can see the increase if you look at the video.) And the icing on the cake happens to be the 9:40 am time. This is a time I call the Hotzone. It is 10 minutes after the opening of the equity session..and after some initial flurry of orders in stocks..etc..often the true first move shows up. This also carries over to Cl as well. In Cl..it just often means some increased volume comes in at that time.
Hope that explains the entry.

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 lancelottrader 
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Today's post oil report move demonstrates what I call an order flow event. Extreme volume to the upside initially...then a retrace...which triggers 1000's of stop loss orders..then longs exiting their positions..profit taking..All this combines to have a fast 100+ tick reversal that has nothing to do with fundamentals..technical analysis or anything..pure order flow move.
I caught a few good moves already..waiting for a possible move back up later.

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lancelottrader View Post
There were a few factors involved in the entry. First at close to 9 am est, I felt we were starting see a possible trend change at around the 36.65 area. Price made an initial impulse wave long of about 45 ticks...My orderflow indicators showed some decent buying going on in that move.
One of my preferred setups is the first pullback/re-entry after a fresh, new trend reversal. Keep in mind, I'm not waiting for the close of a 5 minute chart..or some lagging indicator to tell me I have a new fresh trend underway.
So price pulled back to around 36.90 from 37.10 (which was around a 50% fib pullback)..touched twice to form a W. That is one of my setup types and then my entry is on the break of the black spine. My Tick Strike order flow indicator also began to signal buy orders coming in...my 10 second volume chart shows buy volume accumulating (you can see the increase if you look at the video.) And the icing on the cake happens to be the 9:40 am time. This is a time I call the Hotzone. It is 10 minutes after the opening of the equity session..and after some initial flurry of orders in stocks..etc..often the true first move shows up. This also carries over to Cl as well. In Cl..it just often means some increased volume comes in at that time.
Hope that explains the entry.


Thanks Lance. I appreciate your comments.

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 lancelottrader 
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Price on Cl is moving in a rather "bouncy" manner so far...Not a good day for tight stops.

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 lancelottrader 
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But it is moving up..for now.

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 lancelottrader 
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Lost a few early on...was 30 ticks down..now almost even...not an easy day to trade...Might stay out for a while.

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 lancelottrader 
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I will probably not take any entries on Cl unless price fails at a significant low or high of the session..then possibly play a reversal. Conditions are not good for my usual entries.

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 Srq1 
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Reading your thread very interesting progress on your trading, congrats.
Difficult day to trade CL.
Do you look at TF on days like this?, and like CL, hours you like?
I have sim trading cl on 2 range chart and like the pace,for me. Being trading other instruments like ES, NQ, sometimes CL watching times of the day, also make my day shorter.
CL and TF seem to fit me better, like momentum,volatility etc.
If you trade TF can you recorded so we can watch and learn more of your analysis trading it?
Appreciate your help.
Srq1

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 lancelottrader 
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Anyhow..for me..this was a day to basically stay out. This is what I refer to when I mention unfavorable market conditions. These are also the days that provide those statistics you read about in the threads that claim price action setups and patterns don't work.
You have to determine, early on, that this is not the type of day to keep taking entries or you will probably end up losing lots of trades.

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 lancelottrader 
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Srq1 View Post
Reading your thread very interesting progress on your trading, congrats.
Difficult day to trade CL.
Do you look at TF on days like this?, and like CL, hours you like?
I have sim trading cl on 2 range chart and like the pace,for me. Being trading other instruments like ES, NQ, sometimes CL watching times of the day, also make my day shorter.
CL and TF seem to fit me better, like momentum,volatility etc.
If you trade TF can you recorded so we can watch and learn more of your analysis trading it?
Appreciate your help.
Srq1

Yes, I took some trades on TF today and made about 30 ticks..but they were only on SIM. I need a few more weeks on it before I go live..When I go live..I will probably record both monitors so the TF trades can be seen. The problem is when I record both monitors, it shows up as a split screen and the charts are pretty small. It's hard to see the details.
I like the opening hour or so on TF and the last half hour sometimes.

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 Srq1 
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I thought you trade TF, read it in one of your post, while back, .
Are you re-training yourself on it.
Are you using same system.
How did you do before when you trade it.
Thanks for taken the time to respond
Srq1

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 lancelottrader 
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Srq1 View Post
I thought you trade TF, read it in one of your post, while back, .
Are you re-training yourself on it.
Are you using same system.
How did you do before when you trade it.
Thanks for taken the time to respond
Srq1

Yes, at the beginning of this thread...which was several years ago...I was trading TF. I got mixed results and ended up focusing 100% on Crude Oil.
So a few months back, I started looking at TF again. I have taken some live trades on it...but since it moves differently than Cl, I am mostly on SIM untill I have some positive statistics for several months on it. I have been doing pretty well so far..and there are days when it provides better trades than CL (if Cl is choppy or like today.)

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 Srq1 
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Lancelottrader thanks for the quick reply,will be reading your post and watching videos ,lots to learn.like the system.

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 Okina 
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lancelottrader View Post
Anyhow..for me..this was a day to basically stay out. This is what I refer to when I mention unfavorable market conditions. These are also the days that provide those statistics you read about in the threads that claim price action setups and patterns don't work.
You have to determine, early on, that this is not the type of day to keep taking entries or you will probably end up losing lots of trades.

You're right it was a terrible day. I trade like you on 3 range bars and the only clear signal that my system gave me for the day was a trade around 8AM between 37.26 to 36.93 after that it was only noise for me. Each time I had a pre-trade setup the following bars was a NO TRADE with a big stay away warning.This is the first time that I see a time chart much clear than a range chart. I had signals on a 1 min but I don't trade time chart.

I'm curious to know if you have a way to know that the market will be like in advance or if like you just wait and see (and stay away...) ?




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 lancelottrader 
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First trade of the day for 17 ticks.

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 lancelottrader 
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10 tick winner on Cl and 10 tick Sim TF scalp

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 lancelottrader 
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Another 10 tick TF winner.

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 lancelottrader 
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Two more cl trades..1st one I scratched for + 0...
2nd one got 10 ticks...up about 37 ticks now.

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Okina View Post
You're right it was a terrible day. I trade like you on 3 range bars and the only clear signal that my system gave me for the day was a trade around 8AM between 37.26 to 36.93 after that it was only noise for me. Each time I had a pre-trade setup the following bars was a NO TRADE with a big stay away warning.This is the first time that I see a time chart much clear than a range chart. I had signals on a 1 min but I don't trade time chart.

I'm curious to know if you have a way to know that the market will be like in advance or if like you just wait and see (and stay away...) ?




Hi..I like your chart setup. To answer your question, I have a basic plan before the 9 am session open..but I often can't tell what the market conditions are like until maybe 15 to 20 minutes have gone by. If I see that I don't like the way price is moving, I will stay out until an extreme high or low price level is reached...or if I see some strong volume coming in.

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 lancelottrader 
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Two more.. 1. Went long at 36.10..but it lost 10 ticks. 2. Went short at 35.99 and won 10 back.

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 lancelottrader 
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Decided to stop at 37 ticks up on day. This was my best week of Cl trading yet.

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