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I case anyone was wondering why my last two CL entries look a little weird.....it's because I've been experimenting with multiple time frames. On CL I'm looking at the 10,20 and 30 range bar charts (no gap) and on YM I'm looking at the 8,16 and 24 range bar charts (no gap). Of course I always keep a minute chart up also with support and resistance on it. . (toggle between 5 minute and 30 minute)
Can you help answer these questions from other members on NexusFi?
Platform: Sierra Charts, Investor RT, Ninja Trader
Broker: VanKar
Trading: NQ
Posts: 520 since Sep 2009
Thanks Given: 583
Thanks Received: 1,248
Jeff
Really enjoy looking at your breakout trade. Had never even considered trading CL until reading your posts (and Big Mike's). So far, just watching and sim trading it. Understand your breakout technique, but still don't have a good handle on your other intraday trades. Will just keep following along until I get it......anyway, thanks
I was thinking the same thing yesterday but.......I found it a little difficult to adjust to seeing through the Richard candles to the faster ones......I guess I would get use to it with a little time.
I'm curious if the no gap range bars are the same as range bars but just draw in an extra tick on the bar so there won't be a gap. Or are they different? I'm using regular range bars and the gap doesn't bother me at all so I'm not really sure what the no gap range bar is about.
Here's my favorite set up. I've zoomed in on my first two trades of today. Watch for a swing high or low then put a buy or sell stop in 1 tick below/above it. That's it. I have a target of +10 because I'm focusing on scalping right now. Keep in mind that these two trades are counter trend trades and by definition more dangerous than trades with the trend. Stop placement is up to you ......either swing high/low or perhaps a faster time frame swing high/low or some level of market defined volatility. No sense in having a stop that is too close and not giving the market a little breathing room. Give it a chance to work....just not too big a chance. Of course keep in mind good r/r etc.
