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How do you manage & maintain?
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How do you manage & maintain?

  #1 (permalink)
Elite Member
Chicago IL
 
Futures Experience: Intermediate
Platform: TradeStation
Broker/Data: RJO Brien
Favorite Futures: ES, CL
 
Posts: 25 since Mar 2010
Thanks: 3 given, 22 received

How do you manage & maintain?

I have been trading the CL market & enjoy trading it. But I have to improve on my methodology & looking for some suggestions please.

My Mistakes: The last few days have been very choppy with long spikes. Trailing stops / stop loss would not seem appropriate but waiting for the trend to develop while in the market is also not the option. I understand it is best to stay away from such a market, but then a trend is developed which seems amazing & I feel like a bummer missing out on it or being in the wrong side of it.

How do you identify a trend reversal on a 5 in time frame?
What kind of a stop loss or trailing stop have you had a success with?
How do you identify the market range before hand?

Please suggest

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  #2 (permalink)
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  #3 (permalink)
Big game hunter
NY
 
Futures Experience: Advanced
Platform: Esignal, MBT navigator
Favorite Futures: Currencies
 
Posts: 2,526 since Jun 2009
Thanks: 1,397 given, 2,570 received


Its tough to define a trend because its a bit subjective and its always best to have your own parameters that define bullish , bearish or stay away conditions . Also , whatever you use to define the conditions - STICK WITH THE SAME DEFINITION for as long as possible and dont change it unless you have solid proof that its not strong . In other words define what you call a trend ( or bias , thats what I call it ) write it down and test it under all kinds of market conditions and when you have a lot of samples you can measure your results and then youll know exactly what to change and adjust .

What I have been using , and its good for a 5 min. , is just the 20 ema as a reference point . Then when an entire bar manages to trade above or below the ema without touching the ema then thats the direction I look to trade and enter after retracements occur . When an entire bar trades on the other side of the ema without touching it then ( to me ) the trend has changed direction . Its simple and effective and easy to repeat over and over again .

If I was trading CL though I would read and digest Jeffs AYN thread and adapt it to my tastes cause that guy kicks the CLs butt most days .

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  #4 (permalink)
Elite Member
Chicago IL
 
Futures Experience: Intermediate
Platform: TradeStation
Broker/Data: RJO Brien
Favorite Futures: ES, CL
 
Posts: 25 since Mar 2010
Thanks: 3 given, 22 received

Sweet! Thanks Eric. Do you have a link to Jeff's page?

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  #5 (permalink)
Big game hunter
NY
 
Futures Experience: Advanced
Platform: Esignal, MBT navigator
Favorite Futures: Currencies
 
Posts: 2,526 since Jun 2009
Thanks: 1,397 given, 2,570 received

https://futures.io/journals-daily-charts-tape-reading/560-all-you-need.html

https://futures.io/elite-circle/3332-jeffs-cci-post37650.html

All you need and his CCI thread are excellent . The important thing is the - DONT CHANGE EVERYTHING CONSTANTLY concept .

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  #6 (permalink)
Elite Member
Near the BEuTiFULL Horse Shoe
 
Futures Experience: Beginner
Platform: NinjaTrader
Broker/Data: MBTrading Dukascopy ZenFire
Favorite Futures: $EURUSD when it is trending
 
Trader.Jon's Avatar
 
Posts: 500 since Jul 2009
Thanks: 401 given, 176 received

Additionally, the RSqueeze can be very useful for identifying a trend:
https://futures.io/ninjatrader-programming/3250-rsqueeze-strategy.html

TJ

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