Swing trade in CL - Traders Hideout | futures io social day trading
futures io futures trading


Swing trade in CL
Updated: Views / Replies:287 / 5
Created: by josh Attachments:1

Welcome to futures io.

(If you already have an account, login at the top of the page)

futures io is the largest futures trading community on the planet, with over 100,000 members. At futures io, our goal has always been and always will be to create a friendly, positive, forward-thinking community where members can openly share and discuss everything the world of trading has to offer. The community is one of the friendliest you will find on any subject, with members going out of their way to help others. Some of the primary differences between futures io and other trading sites revolve around the standards of our community. Those standards include a code of conduct for our members, as well as extremely high standards that govern which partners we do business with, and which products or services we recommend to our members.

At futures io, our focus is on quality education. No hype, gimmicks, or secret sauce. The truth is: trading is hard. To succeed, you need to surround yourself with the right support system, educational content, and trading mentors – all of which you can find on futures io, utilizing our social trading environment.

With futures io, you can find honest trading reviews on brokers, trading rooms, indicator packages, trading strategies, and much more. Our trading review process is highly moderated to ensure that only genuine users are allowed, so you don’t need to worry about fake reviews.

We are fundamentally different than most other trading sites:
  • We are here to help. Just let us know what you need.
  • We work extremely hard to keep things positive in our community.
  • We do not tolerate rude behavior, trolling, or vendors advertising in posts.
  • We firmly believe in and encourage sharing. The holy grail is within you, we can help you find it.
  • We expect our members to participate and become a part of the community. Help yourself by helping others.

You'll need to register in order to view the content of the threads and start contributing to our community.  It's free and simple.

-- Big Mike, Site Administrator

Reply
 
Thread Tools Search this Thread
 

Swing trade in CL

  #1 (permalink)
Elite Member
Georgia, US
 
Trading Experience: None
Platform: Various
Favorite Futures: Various
 
josh's Avatar
 
Posts: 4,963 since Jan 2011
Thanks: 5,256 given, 11,731 received

Swing trade in CL

Last night I took a long in CL at 62.56, about 5 ticks from the very low. It took me a couple of tries so I'm down 25 ticks, but in the money 75 ticks as we speak. I think a bounce of 500 ticks is reasonable, based on what I see on the chart.

One of my weaknesses has always been that I want to take the money and run. For some methods this works great, and sometimes I trade this way. But on this trade, we're down $15 in a month and think if we do snap back up, it could be rapid and could see $5 in a matter of a few days. Even more, I'd entertained the thought of just holding, maybe we get a break back above previous highs and oil skyrockets over $80.

It's premature as the market hasn't even opened and we could drop like a rock and all of this would be moot, but: any suggestions on how to let this go and hold for days, if it happens to work out?

Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).

Reply With Quote
The following 2 users say Thank You to josh for this post:
 
  #2 (permalink)
Quick Summary
Quick Summary Post

Quick Summary is created and edited by users like you... Add FAQ's, Links and other Relevant Information by clicking the edit button in the lower right hand corner of this message.

 
  #3 (permalink)
Elite Member
vancouver British Columbia/Canada
 
Trading Experience: Intermediate
Platform: Ninja Trader
Favorite Futures: CL
 
Blue Eagle's Avatar
 
Posts: 570 since Jan 2013
Thanks: 2,991 given, 2,004 received



josh View Post
Last night I took a long in CL at 62.56, about 5 ticks from the very low. It took me a couple of tries so I'm down 25 ticks, but in the money 75 ticks as we speak. I think a bounce of 500 ticks is reasonable, based on what I see on the chart.

One of my weaknesses has always been that I want to take the money and run. For some methods this works great, and sometimes I trade this way. But on this trade, we're down $15 in a month and think if we do snap back up, it could be rapid and could see $5 in a matter of a few days. Even more, I'd entertained the thought of just holding, maybe we get a break back above previous highs and oil skyrockets over $80.

It's premature as the market hasn't even opened and we could drop like a rock and all of this would be moot, but: any suggestions on how to let this go and hold for days, if it happens to work out?

Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).

Well, I don't feel qualified to offer much in the line of suggestions but it seems like simply a matter of perspective. I have money in a savings account that I don't even think of as "my money". I think to let it run you gotta do that kinda thing. Pick a target and assess strength or weakness. Most likely you will lose some on the far side as negotiate where to get out but you are in at a great area (if we get strength today, which it's looking like right now).
I was looking at a move down to 61.50 for a crack at a long but you may have nailed it. If we get a good move today you will have nothing but the quality problem of how much profit do you want to take. As a guy who picked 76.50 as a good short area (before I lost my shit that day) I would have robbed myself on the strength of the move... so my advice in short?...think big. Go for new highs and follow your stop according to strength .
You should get more info soon... good luck...
Craig

Reply With Quote
The following user says Thank You to Blue Eagle for this post:
 
  #4 (permalink)
Elite Member
Birmingham, AL
 
Trading Experience: Intermediate
Platform: TradeStation, NinjaTrader
Favorite Futures: Futures
 
Posts: 4 since Feb 2014
Thanks: 3 given, 1 received

I’d recommend to stick to fundamental market theory of support and resistance.

Observe how the market reacts at key levels for clues. If you have multiple contacts you could scale out at logical targets to improve your theoretical average then keep a couple runners in play in anticipation of new highs.

Best of luck with it!!


Sent from my iPhone using futures.io

Reply With Quote
 
  #5 (permalink)
Elite Member
Birmingham, AL
 
Trading Experience: Intermediate
Platform: TradeStation, NinjaTrader
Favorite Futures: Futures
 
Posts: 4 since Feb 2014
Thanks: 3 given, 1 received

Consider the concept of work. If the buyers are working hard to move price higher and they’re getting paid for their efforts this is a good sign for your position. But, if they continue to work yet gain no ground that could be a clue to take partial profits.


Sent from my iPhone using futures.io

Reply With Quote
 
  #6 (permalink)
Elite Member
Birmingham, AL
 
Trading Experience: Intermediate
Platform: TradeStation, NinjaTrader
Favorite Futures: Futures
 
Posts: 4 since Feb 2014
Thanks: 3 given, 1 received

Finally, hopefully you know the statistical harmonic rotation of CL so that you can keep your stop outside of that rotation.


Sent from my iPhone using futures.io

Reply With Quote

Reply



futures io > > > Swing trade in CL

Thread Tools Search this Thread
Search this Thread:

Advanced Search



Upcoming Webinars and Events (4:30PM ET unless noted)
 

futures io is celebrating 10-years w/ over $18,000 in prizes!

Right now
 

Pro Trader vs Pro Athlete w/Brannigan Barrett @ Habitus Capital

Elite only
 

60 Minutes to Better Decisions & Better Trades w/Agustin Lebron

Elite only
 

Live Day Trading the E-MICROS w/Ilan @ Cannon (special time: 12PM ET)

May 30
     

Similar Threads
Thread Thread Starter Forum Replies Last Post
Automatically plot lines "x ticks/pts" below swing highs/above swing lows skiguy NinjaTrader Programming 4 April 7th, 2015 05:50 PM
Why Day Trade instead of Swing Trade? Big Mike Traders Hideout 39 September 12th, 2014 10:05 AM
Day trade AND Swing trade the same account/broker ? wwwingman Reviews of Brokers and Data Feeds 8 April 4th, 2014 12:43 PM
Swing trade losses vs day trade losses copa8 Psychology and Money Management 4 June 6th, 2012 12:14 AM
Emini's Swing trade v day trade kctpac Emini and Emicro Index Futures Trading 0 March 1st, 2011 09:32 AM


Tags
ai, average, cl, dow, futures, harmonic, harmonic_patterns, how to, information, key levels, resistance, short, statistical, strength, support, support and resistance, swing, tapatalk, theoretical

All times are GMT -4. The time now is 09:09 AM. (this page content is cached, log in for real-time version)

Copyright © 2019 by futures io, s.a., Av Ricardo J. Alfaro, Century Tower, Panama, +507 833-9432 WhatsApp Business, info@futures.io
All information is for educational use only and is not investment advice.
There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
no new posts
Page generated 2019-05-21 in 0.24 seconds with 15 queries on phoenix