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Trading CL (Crude Oil Futures)


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Trading CL (Crude Oil Futures)

  #1 (permalink)
 tzachi 
New York
 
Posts: 38 since Jun 2009

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 Post #18)
2. Slow Stochastic 3,14,3 K line only.
3. DMA Zlema34, Zelma34 ( 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.


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  #2 (permalink)
 
vast's Avatar
 vast 
Australia
 
Experience: Intermediate
Platform: Ninja
Posts: 167 since Jun 2009
Thanks Given: 154
Thanks Received: 62

Thanks Tzarchi for taking the time to put the method in writing. Will watch with interest.

The following user says Thank You to vast for this post:
  #3 (permalink)
 tzachi 
New York
 
Posts: 38 since Jun 2009


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.

  #4 (permalink)
 
Riverend's Avatar
 Riverend 
Westlake, Oh
 
Experience: Beginner
Platform: NinjaTrader
Trading: CL
Posts: 356 since Jun 2009
Thanks Given: 1,519
Thanks Received: 220

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)
 sukhsan 
Ottawa, Canada
 
Experience: Beginner
Platform: Ninja
Broker: Mirus,Zen-Fire
Trading: Currencies
Posts: 120 since Jun 2009
Thanks Given: 109
Thanks Received: 79

TZ and Zeller

Great Job

Thanks

The following user says Thank You to sukhsan for this post:
  #6 (permalink)
 tzachi 
New York
 
Posts: 38 since Jun 2009

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.

  #7 (permalink)
 tzachi 
New York
 
Posts: 38 since Jun 2009


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.

  #8 (permalink)
 sukhsan 
Ottawa, Canada
 
Experience: Beginner
Platform: Ninja
Broker: Mirus,Zen-Fire
Trading: Currencies
Posts: 120 since Jun 2009
Thanks Given: 109
Thanks Received: 79

i did not find sound from where i will get these TZ

Thanks

  #9 (permalink)
 tzachi 
New York
 
Posts: 38 since Jun 2009




Post # 18

  #10 (permalink)
 sukhsan 
Ottawa, Canada
 
Experience: Beginner
Platform: Ninja
Broker: Mirus,Zen-Fire
Trading: Currencies
Posts: 120 since Jun 2009
Thanks Given: 109
Thanks Received: 79


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

Is it matter?

SSS


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Last Updated on September 4, 2009


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