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playing the CL


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playing the CL

  #11 (permalink)
 fofo 
Budapest, Hungary
 
Experience: Intermediate
Platform: SierraChart
Trading: CL, ZB
Posts: 46 since Oct 2013
Thanks Given: 17
Thanks Received: 47

Just back, found this little buy zone
20:49 buy 52.70 1C only, +22 tick

no more screentime today, thanks for the kind market

Day total +42 tick / + 409 $

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  #12 (permalink)
 fofo 
Budapest, Hungary
 
Experience: Intermediate
Platform: SierraChart
Trading: CL, ZB
Posts: 46 since Oct 2013
Thanks Given: 17
Thanks Received: 47

Today a bit hard day for me, but finally banked pretty good profit.
I have to re-evaluate my SL and XX settings, I feel I gave back too much on the last short (50 tick MX, than SL +17 tick = better to take out all, or move SL closer, this is my homework to calculate)

13:06 opened the sell limit 52.29 2C SL -10 -10
13:32 buy 52.35 2C XX 0 poor price action
15:30 buy 1C 52.32 XX -11 - big warning, was no ATM selected and SL not set with trade opening
16:10 buy 2C 51.35 MX +14, SL -4
16:24 buy 2C 51.00 round number entry, SL -10 -10 - should wait the reaction before entry ?
16:36 buy stop 51.02 SL -10 -10 - dont play against the trend!
16:44 sell 2C 51.17 MX +10 SL +2
17:06 buy 1C 51.02 XX -1 - didnt took the real short setup because this trade
17:20 sell 2C 51.07
MX +51, SL +17 -this trade needs further evaluation
17:44 buy 2C 50.53 - last bottom
MX +14 SL +27 - should take the short setup again

I was at nearly my daily loss limit, also tired and thats all for today and Im happy that finally its a positive.
Many trades, +58 tick / +524 $, thanks oil market.

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  #13 (permalink)
 fofo 
Budapest, Hungary
 
Experience: Intermediate
Platform: SierraChart
Trading: CL, ZB
Posts: 46 since Oct 2013
Thanks Given: 17
Thanks Received: 47


Today I was unable to think, my own daily loss limit not exceeded, so no problem. When I feel myself so bad, wont trade at all next time.

A morning try:
08:46 buy 2C 50.54 SL -10 -10

When back, with headache again
14:54 buy 2C 49.52 XX +1 +1 close to the pit open, and no enough buy pressure
17:34 sell 2C 49.18 instant SL -10 -10 - was on moving M5 bar
17:59 sell 2C 49.40 SL -10 -10 - this trade should be a long from 49.28, and risky so must SL set BE at 1:1 R
18:11 sell 2C 49.64 MX +9 XX -3 - a countertrade again, and not taking the trend direction long
18:18 buy 1C 49.76 breakout trade, far from good entry so 1 contract, REV @ 49.94 +18
18:28 sell 2C 49.94 MX +10 and why this is XX +1 I really dont know, was free ride and could make my day, instead try 3 counter trend:

18:42 buy 2C 49.69 SL -10 -10
18:46 buy 2C 49.45 SL -10 -10
18:57 buy 2C 49.37 SL -10 -10 these trades are totally worthless, and 3 pcs

go trend finally
19:04 sell 49.22 2C MX +14 SL +20

This happened today, the risk free short could be 50 maybe 100 tick and without 3 looser.

Total -49 tick // -567 $ the final score
+ lesson when not to trade and
+ keep the riskless 2nd unit open as long as possible

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  #14 (permalink)
 fofo 
Budapest, Hungary
 
Experience: Intermediate
Platform: SierraChart
Trading: CL, ZB
Posts: 46 since Oct 2013
Thanks Given: 17
Thanks Received: 47

Was interesting day, seems if I trade less make more, if work hard get less. Clearly overtrading, very much trades and finally +60 $ .


Before opening I was up 89 tick:
09:28 buy 2C 49.94 MX +12 XX +29
11:41 buy 2C 50.01 MX +16 SL +12
14:39 sell 1C 49.99 XX +20

and when came back after open, I saw the huge (missed) upmove. In the downmove I got burn.
Too many times, should stop draining my profit... From now if half of profits gone, Im also gone away, shut down PC.
15:52 buy 1C 51.12 SL -10 instantly
16:00 buy 2C 50.84 SL -10 -10
16:02 buy 2C 50.55 SL -10 -10 This should be the last trade, I didnt follow my rule = 3 looser in a row
16:10 buy 1C 50.18 SL 1
buy limit 49.98 SL -5 -5
16:42 sell 2C 50.19 SL -3 -4
16:51 buy 1C 50.20 SL -20
buy 49.86 MX +10 SL +20
sell 2C 50.05 SL -4 -4
17:29 buy 2C 50.28 SL -9 -9
17:31 revenge trade sell 2C 50.13 -10 -10 My God, what am I doing ?!? break

18:10 buy 2C 50.63 SL -10 -10
18:14 buy 2C 50.49 MX +14 SL +9
18:32 sell 50.60 2C SL -10 -10
18:40 buy 2C 50.70 -10 -10
19:38 buy 2C 51.01 +1 +1
19:42 sell 2C 51.02 +14 +25
20:02 buy 2C 50.65 +19 +2 crazy price action
20:16 sell 1C 51.24 -6
20:18 sell 1C 51.38 +27

than finally back from negative, lol
Big lesson today. Before open any trade, the first question must be:
Is it worth to take the risk?

Total +23 ticks but the commissions ate that, +62 $. Market still gave me some dollars and lesson learnt.

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  #15 (permalink)
 fofo 
Budapest, Hungary
 
Experience: Intermediate
Platform: SierraChart
Trading: CL, ZB
Posts: 46 since Oct 2013
Thanks Given: 17
Thanks Received: 47

I lost my focus, and wanted to make some ticks on friday, before leaving...

Here are the results:
08:08 sell 52.04 2C XX 0
08:20 buy 51.91 2C XX 0
08:36 sell 51.89 late entry SL -10 -10
09:08 sell 51.82 2C SL -10 -10
09:26 sell 52.03 2C SL -8 -8
09:30 buy 52.13 breakout SL -2 -2
THis time reached the ideal daily loss limit -60 ticks, but I was angry because first 2 trades could make profit...
try to make more:
10:48 sell 51.97 1C SL -9
11:38 buy 52.04 2C SL -5 -5
12:02 sell 52.02 2C MX +18 SL +3
17:04 sell 53.21 2C SL -10 -10
18:26 sell 52.79 2C SL -9 -9
20:26 sell 52.60 1C SL -10 - how many times I can try to go against the trend
20:28 buy 51.61 2C SL +5 +5 - this trade I was thinking to close at +20 (400$) and could erase my stupid movements and back to 60 tick loss, but didnt noticed its friday pit close..
here is the even worst trying to save myself:
21:14 sell 2C 52.78 SL -10 -10
21:22 buy 2C 52.76 SL -6 -6

Finally end, -128 tick and -1382 usd loss. Big mistake from my side, main problem was loosing the focus in the morning, and chasing the ticks without correct trading plan.
Took some days break.

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Thanked by:
  #16 (permalink)
 fofo 
Budapest, Hungary
 
Experience: Intermediate
Platform: SierraChart
Trading: CL, ZB
Posts: 46 since Oct 2013
Thanks Given: 17
Thanks Received: 47

after 3 days break, I cleared my mind and started pretty good:
15:01 buy 2C 52.30 SL -10 -10
15:08 sell 2C MX +20 SL +47 - I should delay MX because was no reason to exit even partially
15:24 buy 1C 51.74 counter trend trade
SL +11 and seems CT trades makes me to skip RE-entries to the trend direction
16:27 buy 2C 50.85 counter trend trade, good reaction point
MX +11 SL +20 - here I was thinking to leave it BE and see what happens, this is a must learn as a trader to run the risk free trades as long as possible
16:44 sell 1C 51.15 XX +9
17:14 sell 1C 51.47 SL -8 last trade of the day, learnt from previous trading days

+91 tick / +877 $ on the account
And one very valuable lesson, when you feel the power of a trend and can stay in with a riskless contract, try to stay and make an ACE trade (just find 1 or 2 in every month and your balance will rocket)

Thanks, my focus is back on track

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Thanked by:
  #17 (permalink)
 fofo 
Budapest, Hungary
 
Experience: Intermediate
Platform: SierraChart
Trading: CL, ZB
Posts: 46 since Oct 2013
Thanks Given: 17
Thanks Received: 47

Rollover on CL makes very choppy moves & fast retracements. Need to take the ticks sooner and lower risk.
Pre session was only loosing, Im forcing trades again:
09:27 buy 53.02 2C instant SL -10 -10
10:20 buy 52.76 2C SL -10 -10
10:26 sell 52.86 2C SL -10 -11 - stupid move, at 11 ticks on support should MX & set BE (low volume)
10:49 buy 52.92 2C SL -5 -5
10:53 sell 52.85 2C SL -10 -10

Took a break.

14:30 sell 52.47 2C SL 0 - at 15 ticks on support should MX & set BE (again)
After pit open, tried go long around 52.00, sometimes works now should wait the reaction since we opened 4 minutes..
15:04 buy 52.02 2C SL -10 -10
try short - half risk, or better not to try
15:08 sell 51.98 2C SL -5 -5
15:18 sell 52.25 2C MX +16 SL +3
15:26 sell 52.41 2C MX +6 XX +4 -- and I dont see the real buy setup, ehh
(better solution next time: REV at green line, that way I bank 14 tick on XX, risk 10 tick = same as XX 4 tick if fail)
15:40 sell 52.75 2C MX +9 SL -1 - a countertrend trade which fails, and again dont realise the buy setup
15:48 buy 53.16 now I see this is not a setup, its real stupid market chasing !
REV -10 -10
on short MX +13 - very early and not needed, SL hit at break even, ahh 30 ticks gone
we entered to a triangle now
need to fresh my mind if want to trade normally

16:14 buy 52.82 2C MX +15 SL +15
16:40 sell 52.99 1C MX +10 - here I was thinking to set target 52,00 and forget it, unfortunately only 1 unit and I made much loosing already. Later seems it was a good idea
17:34 sell 52.55 2C MX 36 XX +51 - why not 52.00 TP ??
18:08 sell 52.26 1C XX +18
18:22 buy 52.02 XX +34

Total +70 tick, too much trades again so account +570 $.
Thanks God

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Thanked by:
  #18 (permalink)
 fofo 
Budapest, Hungary
 
Experience: Intermediate
Platform: SierraChart
Trading: CL, ZB
Posts: 46 since Oct 2013
Thanks Given: 17
Thanks Received: 47

Good morning guys, swithced to CL 04-15 contract because volume got higher yesterday evening.
CL daily chart shows interesting place, around EMA21 now. Be careful today due crude oil, and watch reaction zones: 50.50, 49.25, 54.50
Waiting patiently, today I have a little -10 tick only, and will trade after pit open.

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  #19 (permalink)
 fofo 
Budapest, Hungary
 
Experience: Intermediate
Platform: SierraChart
Trading: CL, ZB
Posts: 46 since Oct 2013
Thanks Given: 17
Thanks Received: 47

I expected good trading for thursday, but overtraded a bit again.

10:58 sell 50.87 1C SL -10
15:10 sell 50.23 2C MX +12 XX +8
15:22 buy 52.00 2C SL -10 -10
15:28 sell 50.25 2C MX +10 SL -2 why no MX at 20 tick, risky
15:46 sell 50.50 1C XX +11
15:58 buy 50.31 1C in front of news! SL -10

take a break

16:38 buy 50.52 2C MX+11 SL +2
Crude Oil release
try a trade 6 minutes later:
17:06 buy 51.02 1C SL -10
okay, stay away
17:21 sell 51.02 1C XX +2 - didnt close at +20, was greedy..
and here comes the forced counter trend trades, I have to stop making these
17:35 sell on top 51.55 2C SL -9 -9
17:36 sell 51.75 1C SL -8
17:46 sell 52.25 2C SL -5 -5
17:48 buy 52.24 2C SL -10 -10

In the last 4 trades I didnt realised the long setup, because was trying to get short. This reminds me the book, Power vs Force, here we should use the power of a trend, which will eliminate the forced trades. Nice lesson.

17:50 sell 52.12 1C XX +30
18:24 buy 51.80 2C SL -10 -10
18:36 buy 51.68 1C SL -9
18:44 buy 51.36 2C MX +10 XX +12 fraidy exit, no signal for it
19:16 buy 51.68 1C SL -3
19:36 sell 51.69 2C SL -10 -10 this was not a good idea here
19:46 buy 51.77 2C MX +33 SL hit +40 (couldnt close +50 and also not run..) but this trade made the day positive.
Little gain, but better than loss, thanks

Total +21 ticks, too much trades so +95 $ on account.

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  #20 (permalink)
 fofo 
Budapest, Hungary
 
Experience: Intermediate
Platform: SierraChart
Trading: CL, ZB
Posts: 46 since Oct 2013
Thanks Given: 17
Thanks Received: 47


Friday now pretty good, after last try to go long Im done and happy with the profits. Last short from 51.89 was 1C only and I couldnt run it, dont know why...

10:28 sell 51.73 2C MX +15 SL +6
12:18 buy 51.55 2C MX +15 SL +14
13:34 sell 52.00 1C SL -9
13:36 buy 52.10 2C not a valid setup! SL -10 -10 and reverse, ahh
14:02 buy 52.02 2C MX +6 SL +21
14:32 sell 52.37 1C scalp +9
15:24 buy limit 51.59 2C MX +11 XX +30 target price This trade was supported by market delta aswell.
15:30 sell 51.89 1C XX +21 - fraidy cat
last try
16:02 buy 51.17 1C SL -10 too volatile here, later could close in profit.
I was a bit pity why not kept the short, but nice profit so this is the end of trading today.

Total +109 ticks / + 1049 $ on account. Thanks.

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