All you need

November 19th, 2009, 07:14 AM

omaron

You can say that again

. Thanks for all the info.

Oh.. 7:45 - 11:45, but what time zone? PST, EST?

I use EST. I find it easier to use EST. In fact i have my PC clock set to EST even though I'm in Europe.

November 19th, 2009, 07:18 AM

cunparis

I use EST. I find it easier to use EST. In fact i have my PC clock set to EST even though I'm in Europe.

Me too

. I actually use ZoneTick and show both my local time and EST (PC clock is EST)

November 19th, 2009, 07:58 AM

Jeff Castille

Hello Omaron,

CL is a new market for me. I have been trading it for exactly 12 days. I am employing the same tactics that I normally do with the "All you Need" approach. After 12 trading days I have 10 winning days and 2 losing days. Since I am just becoming accustomed to the way CL moves I am trying to scalp +10 with a 15 tick stop. The stop can be adjusted to accomodate market conditions if necessary. (recent swing high/low) I hope to be able to take advantage of the volitility and be able to increase my profit targets in the future but......one step at a time. I'd like to be able to get good at my entries and getting my first target then.......once I achieve that I will look at the possibility of larger targets and runners.

I know that Big Mike and Gary trade CL.......I would recommennd that you read some of their stuff as they have been trading CL a lot longer than me.

Good Luck,

Jeff

Jeff Castille

Go through the last few months charts of CL and see how often there is any significant price movement after 11:30 AM PST.

I am not seeing very much movement during this time period. Of course there are always exceptions.

Hi Jeff
would u mind sharing your template with the VIP members with TEMA .. and the dots u have?
thanks

November 19th, 2009, 01:01 PM

I only believe what I see.

On this chart I am using the 34 ema as a trend filter with the sharkfin.

November 19th, 2009, 01:40 PM

looks like you got the hang of CL. Nice job.

November 19th, 2009, 01:51 PM

websouth

looks like you got the hang of CL. Nice job.

Thanks Web.....

I view this as a first step.....trying to perfect entries and observe best times to trade. I'm going to keep up the scalping till the end of the month and if my track record warrants it I will add contracts and targets. You gotta love the volatility.

Jeff

November 19th, 2009, 08:17 PM

Jeff, that's a very impressive chart of CL. So simple. And you use it to make four winners in a row. How much better does one have to be?

This one is a little messier because I had two ideas to show along with a basic, classic P&F chart drawn as bars versus the old 0's and X's which don't compact well.

First, I just quickly drew some trendlines and SR lines. PF charts make these very obvious.

Second, for fun, I put on an EMA based on high and one on Low to create a band. Using anything based on close on PF charts is probably a waste of time because of how some bars move so far relative to others when there is a move. And also for fun I suggested simple system rules. Probably wouldn't work too well in many conditions, but probably also work quite well in many others. Also just for fun in the spirit of 'all you need'.

But you can see during trending times how orderly the correction back to previous support or resistance is. Congestion is congestion. Longer term SR is also easy to spot. ( The two green lines came from earlier today in live market analysis and referenced something on a 30 min chart whilst I was using 3 min in this window.)

Anyway.

November 19th, 2009, 08:27 PM

All you need super simple III:

seriously, it is quite good money management practice to just trade the DOM which has price and a little market depth volume.

Very Zen approach.

November 20th, 2009, 04:08 PM

Options expiration is not a good day to trade in my opinion.

November 21st, 2009, 12:37 AM

Jeff you have bar which is ash color what indicator is that ? is it another paintbar?

All you need

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All you need