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All you need
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Created: by Jeff Castille Attachments:534

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All you need

  #2051 (permalink)
Elite Member
Westlake, Oh
 
Futures Experience: Beginner
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Favorite Futures: CL
 
Riverend's Avatar
 
Posts: 352 since Jun 2009
Thanks: 1,439 given, 207 received

Jeff,
Tried this indicator on another chart without your template and it now shows plots.
Don't know why but it's good for meodd.
Thanks again for all you do here

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All you need-zellar_sharkfin.jpg  
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  #2052 (permalink)
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Northern California
 
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Todays CL trades

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I'll be looking forward to implementing a second target soon.

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  #2053 (permalink)
Elite Member
Seattle
 
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Jeff Castille View Post

I'll be looking forward to implementing a second target soon.

Great job today Jeff. Was curious on these trades what kind of a MAE are you typically seeing? How are you managing your stops and take profit? Again, good work.

Blz

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  #2054 (permalink)
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Concord, NH USA
 
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Great Job, Jeff. One question, what were your entries based on for trades 2,3,4 as they don't seem to be a break of a swing hi/lo? actually 2 questions, are you finding the 30 range nogap to be the time frame that you like the most?

thanks

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  #2055 (permalink)
Elite Member
Northern California
 
Futures Experience: Intermediate
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Men at work


Blz17 View Post
Great job today Jeff. Was curious on these trades what kind of a MAE are you typically seeing? How are you managing your stops and take profit? Again, good work.

Blz

Today, as you can imagine the MAE was extremely low .08%.

I don't really have a set approach yet. For instance when the Dubai crisis was upon us I knew there would be panic so I opened up my target for a discretionary exit.....it was good for a +46. Even though this was a nice gain I left the other half on the table. I just don't have a method for determining how to exit a runner. (I got out when the current bar exceeded the prior bar)

Since I've only been trading CL for 5 weeks I don't want to get ahead of myself. I started with a +10 target and a 15 tick stop looking at this as the first step. (trying to get good entries and a first target off) After comparing notes with Cunparis I decided I was leaving too much on the table so Fri. I went for +20 target....this worked out rather well. Although I started thinking +15 might be a more reasonable first target. (see my last 3 trades) This also gave me a 1/1 r/r which I like.

So, it's a work in progress. If things go well for the remainder of this month I will consider adding more contracts. CL provides excellent opportunities for +100 tick moves on what seems like a daily basis. I am working on capturing a portion of those moves.

Are you trading CL? And if so what is your approach? Have you developed a trailing stop for your runner?


Last edited by Jeff Castille; December 7th, 2009 at 08:27 PM.
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  #2056 (permalink)
Elite Member
Northern California
 
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jdella View Post
Great Job, Jeff. One question, what were your entries based on for trades 2,3,4 as they don't seem to be a break of a swing hi/lo? actually 2 questions, are you finding the 30 range nogap to be the time frame that you like the most?

thanks

I use the 20 and 30 no gap range bar charts. My second trade was a counter trend trade. I have been observing that the second signal off the bottom (or top as the case may be) is a good reversal signal. It's just a 1,2,3 that's all. I focus on trend trading but I have a couple of other tricks up my sleeve that I also work on. The next trade I'd like to master is a fade from extremes. I've noticed that CL is a good candidate for this trade.

The posted trades may make more sense on a 20 range bar chart.

Gotta go right now. I'll be back

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  #2057 (permalink)
Elite Member
Seattle
 
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Jeff Castille View Post
Today, as you can imagine the MAE was extremely low .08%.

I don't really have a set approach yet. For instance when the Dubai crisis was upon us I knew there would be panic so I opened up my target for a disgressionary exit.....it was good for a +46. Even though this was a nice gain I left the other half on the table. I just don't have a method for determining how to exit a runner. (I got out when the current bar exceeded the prior bar)

Since I've only been trading CL for 5 weeks I don't want to get ahead of myself. I started with a +10 target and a 15 tick stop looking at this as the first step. (trying to get good entries and a first target off) After comparing notes with Cunparis I decided I was leaving too much on the table so Fri. I went for +20 target....this worked out rather well. Although I started thinking +15 might be a more reasonable first target. (see my last 3 trades) This also gave me a 1/1 r/r which I like.

So, it's a work in progress. If things go well for the remainder of this month I will consider adding more contracts. CL provides excellent opportunities for +100 tick moves on what seems like a daily basis. I am working on capturing a portion of those moves.

Are you trading CL? And if so what is your approach? Have you developed a trailing stop for your runner?

After such a great day it's good to see your modest. CL is a beat that'll steal your money in a heartbeat if you take your winnings for granted.

I'm still working on my own approach. I spent alot of time working on price action trading for CL (I still use price action trading on 6B, 6E & ES) but found that I did not like using pure price action as the stops have to be quite large and the volatility can drive you bananas. I have no doubt it could have been profitable but the style would have been beyond my emotional capacity. So, now I watch CL on a few different charts, 18 range, 6 range and I keep a 5 min up as well as I've become comfortable interpreting it. Also, rather then the range charts I may switch to SBSRenko. I'm finding I like them better for my approach. I'm still hashing out an approach that I'm exactly comfortable with but I am working with Mike's envelope expansion indicator for trend detection and then a more volatile propietary m.a. for triggers. It's still a working in progress but the one thing that I'm finding I like about the SBSRenko's is it appears they can get you into a trade with a fairly minimal stop and keep you in for at least a decent run if it moves.

Have you considering using a smaller chart with a moving average or something to trail your profit off your big chart entries?

Blz

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  #2058 (permalink)
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Earth+Somewhere
 
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Jeff,

Not sure if this has been asked, but what indicator makes some bars color grey, vs. just blue for up, or red for down?

Thanks

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  #2059 (permalink)
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Northern California
 
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cbratton View Post
Jeff,

Not sure if this has been asked, but what indicator makes some bars color grey, vs. just blue for up, or red for down?

Thanks

That's the Sharkfin......I just set the neutral color to grey, up/blue, down/red,length/2.

Actually there is an earlier post from today with the settings on it.

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  #2060 (permalink)
Elite Member
Northern California
 
Futures Experience: Intermediate
Platform: Ninja Trader
Broker/Data: Amp Futures/ Zen-Fire
Favorite Futures: YM and CL
 
Jeff Castille's Avatar
 
Posts: 2,119 since Jun 2009
Thanks: 1,785 given, 3,279 received



Blz17 View Post
After such a great day it's good to see your modest. CL is a beat that'll steal your money in a heartbeat if you take your winnings for granted.

I'm still working on my own approach. I spent alot of time working on price action trading for CL (I still use price action trading on 6B, 6E & ES) but found that I did not like using pure price action as the stops have to be quite large and the volatility can drive you bananas. I have no doubt it could have been profitable but the style would have been beyond my emotional capacity. So, now I watch CL on a few different charts, 18 range, 6 range and I keep a 5 min up as well as I've become comfortable interpreting it. Also, rather then the range charts I may switch to SBSRenko. I'm finding I like them better for my approach. I'm still hashing out an approach that I'm exactly comfortable with but I am working with Mike's envelope expansion indicator for trend detection and then a more volatile propietary m.a. for triggers. It's still a working in progress but the one thing that I'm finding I like about the SBSRenko's is it appears they can get you into a trade with a fairly minimal stop and keep you in for at least a decent run if it moves.

Have you considering using a smaller chart with a moving average or something to trail your profit off your big chart entries?

Blz

I looked briefly at the 10 range bar to complement the 20 and 30 but I always start trading the faster chart and this inevitably screws me up. When I trade the slower charts I get the major moves at breaks of support/resistance. I don't think you necessarily need to have huge stops to trade slower charts......just a feel for the kind of volatility that is in play. If you are entering at these key areas the stops don't come into play that often.

As far a a trailing stop based on a moving average.....perhaps. I've been thinking about that.

For right now my plate is full doing historical research on the ORB and the push into the close. These two trades have a very high percentage win rate. Trying to find optimal values for stops and targets.

I took a look at the sbs renko charts but the way the bars are makes it virtually impossible for me to detect my favorite set up which is the 1,2,3. So......that was the end of them. I can see that they would be useful but not for the style that I have developed.

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