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Trading CL (Crude Oil Futures)
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Trading CL (Crude Oil Futures)

  #1 (permalink)
Membership Revoked
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Trading CL (Crude Oil Futures)

Trading CL- My scalping way

  • Time: 9:00AM-2:15PM (EST)
  • No trading: See below (E. Extra)
  • Chart: 4 Range, chart trader for trade execution

Chart setup:
1. Black diamonds and audio alert generated by zeller4 indicator https://futures.io/programmers-paradise/355-consolidation-alert-la-tzachi-2.html Post #18)
2. Slow Stochastic 3,14,3 K line only.
3. DMA Zlema34, Zelma34 (https://futures.io/journals-daily-charts/299-sharkys-zn-classroom-3.html post # 27)
4. MurryMath lines

Trigger:
CCI 18 crossing +30 for long and -30 for short. (or any other one you like after doing back and forward testing, like change of color at 14Zlema,1ADXV)

Trade strategy:
1. Look for short/long trades based on color of Zlema34 (for a conservative method only, ignore Zelema34 for a more aggressive style)
2. Wait for the black diamond to show up, it’s an advance alert that a trade in getting ready to be triggered
3. Look at the direction of the 3,14,3 K line, it is the clue for long (pointing up) or short (pointing down) DO NOT GO AGAINT IT!!!!!
4. 3,14,3 above the 50 line pointing down is what we like to see for a short trade(See attached pic.)
The longer the line has to travel before getting to the OS is potentially more ticks to gain.(opposite for a long position)
5. If 3,14,3 is already in OB/OS territory, no trade.
6. Wait for the trigger to initiate the trade
7. If using a runner, in my obsirvation, the white dots area can serve as a safe SL and than keep moving you trailing stop 5 ticks at a time.


Exit:
1. I trade all in all out with no runners
2. I look to gain 10 ticks a trade.
3. Will take 5 ticks if 3,14,3 is already above 50 line for long or under 50 line for short when open the trade (Aggressive trade)
4. If 3,14,3 line went into OB/OS territory and stay there flat, I will stay in the trade up to the turning back down/up crossing the 80/20 line and may gain more than 10 ticks per this trade.
5. There are around 30-40 setups on any given trading day. No reason to try to get the last tick from each one.


Extras:
1. When Fed Chairman or Treasury Secretary testify in front of Congress or give a speech, NO TRADE ZONE. Every word they say can spike the market dramatically.
2. Every Wednesday at 10:30 there is OIL inventory report coming in. (most expected report during the week for CL) Better to stay a way 15 minutes before and get back after 10:31
3. Stay on sideline 2 minutes before daily economic news release (daily and weekly listing on many financial web site)
4. Price usually respect the MurryMath lines, look for it when in a trade as it may change direction or stall around them. If stall, better be safe than sorry, take the ticks and get out.

*** This information is based on my observation and my personal trading style and is posted for educational propose only. It is not a trade recommendation.


Last edited by Big Mike; September 4th, 2009 at 11:45 PM.
The following 14 users say Thank You to tzachi for this post:
 
  #2 (permalink)
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Thanks Tzarchi for taking the time to put the method in writing. Will watch with interest.

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  #3 (permalink)
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You welcome.

The black diamonds as the advance warning for an up and coming trade is a magic tool and the key foundation here. Add a trigger, profit target/SL rules and you are done.

T.


Last edited by tzachi; August 29th, 2009 at 06:40 PM.
 
  #4 (permalink)
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Thanks tz for explanation. I watched the chat all last week and know you and others put a lot of time into this. Great job.
By the way you mentioned CCI 18 as a trigger but I didn't see it in your chart. What goes in panel 2?

Thanks again,
Vic

 
  #5 (permalink)
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TZ and Zeller

Great Job

Thanks

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  #6 (permalink)
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I used to use CCI 18 cross +/-30 and now I am using a self developed one.

Try to play with the CCi,RSI,Stocs cross 50,Zlema/HMA change of color or any other tool you find working for you. As long that you TRADE IN THE RIGHT DIRECTON, take your profit (around 10 ticks for a 4 range chart) and you have a SL you will be OK.

Most triggers are very similar in generating the entry call (a bar early or late). The key is to wait for it AFTER a black diamond, go with the 3,14,3 DIRECTIN and have a SL in place.


Last edited by tzachi; August 29th, 2009 at 06:41 PM.
 
  #7 (permalink)
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sukhsan View Post
TZ and Zeller

Great Job

Thanks

Thanks.

ZELLER4 and Sharky are the ones to thanks. They provided us with the foundation to all of this. I just read it in my way and share it with you.


Last edited by tzachi; August 29th, 2009 at 06:42 PM.
 
  #8 (permalink)
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sukhsan's Avatar
 
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i did not find sound from where i will get these TZ

Thanks

 
  #9 (permalink)
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https://futures.io/programmers-paradise/355-consolidation-alert-la-tzachi-2.html


Post # 18


Last edited by tzachi; August 29th, 2009 at 06:42 PM.
 
  #10 (permalink)
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sukhsan's Avatar
 
Posts: 106 since Jun 2009
Thanks: 93 given, 66 received


i downloaded this one but i donot ve those sound files in my sound folder

Is it matter?

SSS


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