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Catching Big Waves - a trader's journal of surfing the the markets


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Catching Big Waves - a trader's journal of surfing the the markets

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  #1741 (permalink)
 GaryD 
Orlando, Florida
 
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Posts: 6,462 since May 2011



abc possibly complete...

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  #1742 (permalink)
 GaryD 
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Started this thread
 
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  #1743 (permalink)
 GaryD 
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closed +36, I think.

No. +37.

I have to quit and get ready for my flight. Summary

-3 short
+5 short
+37 short

Net +39 (and a penny!)

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  #1744 (permalink)
 GaryD 
Orlando, Florida
 
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PowerBroker View Post
???

You better have a million dollars in your account if you are still trading CL. LOL

Relax Gary. You're info and analysis is seemingly spot on as our euro friends say. Kudo's to you for being in CL. I was in there when I was first coming up on sim and like a newbie dork I tried it live..Oppsy!!!

Perhaps you should get rid of the dog, wife , kids etc.. JK Your mind will be a lot clearer.. I'm just sayin..

Keep it going man!!!!

PB


I know CL is a beast, possibly the most insane market, but something about it seems to work for me. It has to do with the number of opportunites given within a certain time period that fits my psychology. Had I stayed in ES I might not have ever turned the corner. Gold is close, but I could not get it to stop taking my profits after a good run up.

If I did not have the wife and the dog I would not have become the trader that I am. They have kept me grounded, and after major losses showed me that money was not everything.


Thanks for your kind words on the analysis. I keep studying and studying, and occasionally get it to all come together. Still working daily to understand better.

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 PowerBroker 
DetroitMIUSA
 
 
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Quoting 
but something about it seems to work for me

That's allllll that matter's baby!!

 
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  #1746 (permalink)
 rico42 
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GaryD View Post
I know CL is a beast, possibly the most insane market, but something about it seems to work for me.

Same here, Gary.

“Every stock is like a human being : it has a personality – a distinctive personality – aggressive, reserved, hyper, high-strung, volatile, boring, direct, logical, predictable, unpredictable. I often studied stocks like I would study people; after a while their reactions to certain circumstances become more predictable.”

- Jesse Livermore

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  #1747 (permalink)
 Surly 
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GaryD View Post

I do plan to trade at the 5-10 contract level in the near future. My issue today is that I have not been a "good" trader for that long, and the path I chose to become good meant I had to accept, as painfully tedious as it can be to me at times, that I am in no hurry. I chunk out my $200.00, $500.00, an occasional $1k, and then I quit. But I am headed for bigger and better things.

Gary - I know you've mentioned reading Ari Kiev and I'm not sure if you're already into or through his books. But I just wanted to say that when you do start to seriously approach sizing up, you may find Ari's book "the psychology of risk" incredibly valuable. He trained olympic athletes to reach beyond their self-imposed limits for more than a decade - his philosophy of life and risk is all about reaching your potential - especially as it relates to trading. It really is an awesome book. Here's a quote from the final pages:

"I cannot emphasize this point enough: you are what you have the courage to be." - ari kiev

Seek freedom and become captive of your desires. Seek discipline and find your liberty. - Frank Herbert
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  #1748 (permalink)
 Big Mike 
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GaryD View Post
If I did not have the wife and the dog I would not have become the trader that I am.





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 lancelottrader 
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GaryD View Post
I know CL is a beast, possibly the most insane market, but something about it seems to work for me. It has to do with the number of opportunites given within a certain time period that fits my psychology. Had I stayed in ES I might not have ever turned the corner. Gold is close, but I could not get it to stop taking my profits after a good run up.

If I did not have the wife and the dog I would not have become the trader that I am. They have kept me grounded, and after major losses showed me that money was not everything.


Thanks for your kind words on the analysis. I keep studying and studying, and occasionally get it to all come together. Still working daily to understand better.

Yes..for me..my whole trading endeavor drastically changed when I discovered CL. There's nothing else like it. It definitely fits my personality. I traded Forex for several years and sometimes when I see oil do one of those momentum spikes..I get lured in. When those spikes happened in the Euro, I knew it was usually the start of a big move. But you get a spike in oil, it often just turns right around and goes the other way. I have to remember this is not Forex ! The trick for me with CL has been trying to determine how long to hold some trades. I find that my best chance of runners usually occurs around 9:00 to 9;20 est...sometimes 10:40 est and often around 11 am est. Sometimes 2:20 pm gives a nice closing push. I have configured a 4 range chart with some algo coded trailng stop dots. Whether it is mainly psychological or not, they help me to stay in a trade much longer. The thing is..sometimes I'm up 10 to 12 ticks..but they cause me to only break even. But on many others, the dots will keep me in 50 to 100 tick trades. Being someone who scalped Forex for small tick gains, catching nice runners has been a new, but wonderful experience. Between the volume I see, the time of day, where the price level is, my adx and a few other things, I take my entries. I never take more than a 10 tick stop loss..and I will often stay in the trade untill the dots give me my exit signal. I'm very happy with the results I'm getting.
Anyhow, thanks for starting one of the best threads on here. Your posts have been very insightful and helpful to me. Here is a chart form this morning..nice move starting just before 9am est..

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  #1750 (permalink)
 PowerBroker 
DetroitMIUSA
 
 
Posts: 193 since Feb 2012


Try an ATR trailing stop and set the parameter to 1.5 or 1.2 or whatever your tolerance is. It could keep you in the move right till the end give or take a tick but you WILL get stopped out with it. That is the whole idea. Let the technology do all the work. I do. I am trying to one going for my ZW moves in the morning. Good luck!!

PB


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