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The Italian Job
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Created: by redratsal Attachments:31

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The Italian Job

  #81 (permalink)
Elite Member
Milan (I)
 
Futures Experience: Advanced
Platform: Ninjatrader
Broker/Data: Kinetick
Favorite Futures: FDAX,6E,CL,YM,NQ,ES
 
redratsal's Avatar
 
Posts: 1,653 since Oct 2010
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This is my 2nd CL trade with 3 contracts, I didn't want to risk too much as the buyers are pretty strong (gomcd), target on the TL. +408 USD
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  #82 (permalink)
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Posts: 1,653 since Oct 2010
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That was my 3rd and last of the day 6E trade with 2 contracts, target on the TL + 300 USD

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  #83 (permalink)
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These are today's levels:

CL 98 - 99.67
6E 1.4308-1.4437

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Today is also CL inventories

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  #84 (permalink)
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This is my first trade of the day, long with 5 CL contracts. In this trade there was a clear unbalance between buyers and sellers; looking at the chart it took 1500 delta values to make a down leg of around 75 pips, whereas it took the same delta value to make 25 pips on the up leg with a 1:3 ratio move in favor of sellers. I decided to close the trade near the TL with a loss of -362 USD.
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Below the PA 10 minutes later with Price going down 20 pips away from my closing price ( the MAE would have been 1250 USD higher). I will not make a stop n go, I'd rather wait for another opportunity.
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  #85 (permalink)
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Vwap

I have checked my vwap with Fat Tails' newest version https://futures.io/elite-circle/5117-using-vwap-volume-weighted-average-price-your-trading-10.html#post127924 and they are matching perfectly on 6E and CL

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  #86 (permalink)
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My attempt to avoid a stop management

Like I mentioned in post #83, 1.4308 was an important support level for the 6E, the market went below and started a down trend. The next support level (see image attached) was 100 pips below at 1.4208

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The rule would have been not to trade, but the purpose of a method is also to show bad trades and how to reduce the risk with the trade management. I took a trade at around 11.00 am CET and scaled up to 5 contracts. I decided to stop the scaling at 5 contracts, I wanted to see if the market would test the 1.4208 and I needed my stop management below this level.

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The market retraced but not enough, as the down trend was pretty strong and I have been in the trade for 4 hours I decided to avoid a stop management at 5000 USD and I closed the trade at 1.4245 with a loss -1500 USD

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Like I mentioned in post #27, the real problem with this method is not how to make money but rather how to keep it. Since the cumulated profit (from june 1st) is over 8000 USD and today I avoided for 2 times a stop management I am still confident that there will be other chances to recover this loss.

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  #87 (permalink)
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Posts: 1,653 since Oct 2010
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This was my last trade of the day with 1 CL contract +USD 300

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  #88 (permalink)
Elite Member
Milan (I)
 
Futures Experience: Advanced
Platform: Ninjatrader
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redratsal's Avatar
 
Posts: 1,653 since Oct 2010
Thanks: 1,217 given, 2,067 received


redratsal View Post
Like I mentioned in post #83, 1.4308 was an important support level for the 6E, the market went below and started a down trend. The next support level (see image attached) was 100 pips below at 1.4208



The rule would have been not to trade, but the purpose of a method is also to show bad trades and how to reduce the risk with the trade management. I took a trade at around 11.00 am CET and scaled up to 5 contracts. I decided to stop the scaling at 5 contracts, I wanted to see if the market would test the 1.4208 and I needed my stop management below this level.



The market retraced but not enough, as the down trend was pretty strong and I have been in the trade for 4 hours I decided to avoid a stop management at 5000 USD and I closed the trade at 1.4245 with a loss -1500 USD



Like I mentioned in post #27, the real problem with this method is not how to make money but rather how to keep it. Since the cumulated profit (from june 1st) is over 8000 USD and today I avoided for 2 times a stop management I am still confident that there will be other chances to recover this loss.

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  #89 (permalink)
Elite Member
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Posts: 1,653 since Oct 2010
Thanks: 1,217 given, 2,067 received

First trade of the day, 6E 1 contract, target below the 12R TL +425 USD
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  #90 (permalink)
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Posts: 1,653 since Oct 2010
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My 2nd trade with CL 2 contracts, Target below vwap +521 USD
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