I have seen a posting (externally) selling a technique which focus on the last 2 mins of CL. Setups I'm told occurs 2-3 times a week. He's charging 10 ES pts. Looking to see if any futures.io (formerly BMT) CL traders noticed any influx patterns that occurs in the last to 2 mins. If there's something to this maybe we can decode this bad boy. See ad below...
Trading the close is a high probability trading style that many extremely affluent traders know about but most retail investors don't. It's an extremely simple way to extract profits due to an influx of orders that come into the market at the end of the day. I currently work for an commodities trading firm, and employ this strategy on most days in the last 2 minutes of the futures trading day (2:28-2:30pm ET). Many professionals actually only trade the close, and that's it, they call it a day. This trading method is great for traders whom don't want to take much risk, and would rather spend most of their time on other things. Traders can make roughly $200-$300/day using this technique depending on the size they trade and the closing range. This trading style is largely done in the Crude Oil futures. With my consultation you'll learn how and when it is a high probability situation to trade in the close and when it is not. Every market whether its Equities, Commodities, Forex, etc. has its own unique edge that a trader exploit. Trading the close method is one of the big edges in Crude Oil futures. This is NOT a breakout method, actually 67% of breakouts fail, the other 33% are simple to spot to the professionally trained eye.
Sounds like bullshit to me. I especially like the part where traders can make $200-$300 a day with this technique. Why would there be a limit like that? Not enough volume to support $400-$500?
Check out a chart for last 2 minutes for CL. Use something small like a tick or range chart. Do you see anything worth catching? After a quick look, it would seem most days it is sideways within a .10 range in the last 2 minutes.
Ask the guy selling it for historical trade information or any type of proof, etc. Don't waste your money.
Does anyone here know ANYONE who has bought a system from someone and made money with it consistently over a decent period of time?
Based on your post history, it would seem you are one who is looking for the holy grail system which would allow you to make money without investing the time and everything necessary to become a successful profitable trader. My advice would be to spend more time with your own system/setup, including creating a journal, statistics tracking, etc, instead of looking for a system which will help you make money. You can get a lot of what these systems offer (a new perspective or indicator) for free from places like futures.io (formerly BMT). Save your money, put the time in.
I can't speak for CL. I don't trade that stuff. but with index futures there are great opportunities in the final minutes. the only problem is the time factor. but many times it's more than obvious what's going to happen in the close. and I sure like to take advantage of it. but of course not suited for everyone.
Hope you don't mind me calling you this. I'm a TF, ES large time frame guy myself with no experience with CL either. My intention is to see if there's any significant range in CL (last 2 mins). As there is with the indices. I appreciate everyones input.