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A CL Trading Journal


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A CL Trading Journal

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  #191 (permalink)
Dallas/Tx
 
Experience: Advanced
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Trading: CL Crude Oil
 
Posts: 281 since Sep 2011
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Upupandaway View Post
Avall your right....I plan on doing that, exactly....thanks..

I guess when I made that post, I was misunderstood, in making people believe I'd seek out "mentors", because I wont. I dont believe in it, and wouldn't matter if I did, I dont have the money for it. I think exactly like one of the last few posts. If a guy is making 800,000 to 3 mil a year, why is he willing to help a person for 500 or 5000 for that matter, makes no sense.

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  #192 (permalink)
Dallas/Tx
 
Experience: Advanced
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Posts: 281 since Sep 2011
Thanks: 168 given, 166 received

I've started paper trading again. These are the results of today's trades. On the 5 minute chart you can see the VPOC never changed for the entire day, very low volume. But kept going up all day. Anyways my focus is to make sure I trade only above or below the white MA (which is a 34EMA on a 610 tick chart) for the intended direction.


Secondly I've added the stochRSI to my chart. The reason is that "if" I'm right about the trade direction I can use it to signal a trade. I then know that from that point, my stop should be no larger than 14 ticks.

Third to make certain that price has pulled back off of the high or low. I've noticed I sometimes sell the low, or buy the high because of the indicator, so I'm going to try not to do this, buy letting price pull back, and letting price lead, then looking at indicators.

So you can see from the 150 tick chart that I went short twice. This was due to me "thinking" instead of watching. So I stopped trading. I made those two mistakes so I stopped.

So again my first goal is to 1: Only trade prices above or below the white ma for the intended trade direction
2: Have a stop no larger than 14 ticks
3: To make certain price has actually "pulled back" and not just the indicator has pulled back.

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  #193 (permalink)
Dallas/Tx
 
Experience: Advanced
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Posts: 281 since Sep 2011
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I think I was a little to excited this morning. I can see five trades I shouldn't of made. However sticking to only trading while prices are above or below the white ma eventually got me ahead. This is what I've experienced in the past in doing this. I do also monitor a 5 minute chart. I think you have to, it makes sense to. All different time frames being traded, and tha'ts one of the most popular.

Of those 5 trades I shouldn't of made all where in the morning. They are the five trades after the first one made in the morning. I should of atleast waited for the swing low to be made, and at best waited for the 50EMA to have prices closing below it.

So...I did what I wanted to, traded prices only above the white MA or for the respected direction. Also I didn't take a larger loss than 140 dollars, so that's good.

I'm trying to stop my brain from overriding what I see, by focusing on only trading prices above or below the white EMA for the intended trade direction. I gotta get to where I do the same thing no matter what I think.

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  #194 (permalink)
Dallas/Tx
 
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Trading: CL Crude Oil
 
Posts: 281 since Sep 2011
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Yah so...ok right today I did what I said I would. Traded only above the white ma except in the only situation that it's allowed. In the case of a gap. Doing this kept me ahead, and I finished up well on the day. Their where two prior day's VPOC"s that price could of gone to. Looked at first it would try lower, then went higher. It just touched the upper VPOC at 94.20 before it reversed.

Went all the way back down to test the IB low, (marked as yellow lines on my charts) and basically stopped right their for the day.

Also I kept my stop to 14 ticks or below.

My goal is to trade 1: Only prices above or below the white ma for the expected direction ( except in a gap situation)
2: Keep my stop to 14 ticks or below

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  #195 (permalink)
Dallas/Tx
 
Experience: Advanced
Platform: NinjaTrader
Trading: CL Crude Oil
 
Posts: 281 since Sep 2011
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I did trade today but not much. Having some medication issuses woke up late. Took two trades, and that was that. I stuck to the plan as far though. Traded only above the white ma and lost no more than 14 ticks.

Would of been great to of been here in the morning. One of the VPOC's was taken out. I monitor these things, they work. They will use them, and when they have not yet been touched by price, it's great, because it acts like a magnant alot of the time. Go again Monday.

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  #196 (permalink)
Dallas/Tx
 
Experience: Advanced
Platform: NinjaTrader
Trading: CL Crude Oil
 
Posts: 281 since Sep 2011
Thanks: 168 given, 166 received

So this morning I had to take a friend to work. Got back about 15 after 8:00. So I missed a long trade. Took one, didn't work out..so thats fine. So...the main thing I'm focusing on is making sure I trade prices above or below the white MA for the expected direction. However four of my trades where above it today, that's fine because I allow it on gap days. Also I had another added advantage that their was a VPOC that could be hit, and was eventually hit.

So I followed the plan. Traded only above or below the white MA except in this case, because of a gap.
Also I lost no more than 14ticks (well two trades had slippage) but the stop was set to 14 ticks.

Their are two pictures of the 5 minute chart below. I wanted to show two, one with Gomi's stuff up, and one with it off. Just so a person could see the VPOC and the Gap more clearly.

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  #197 (permalink)
Dallas/Tx
 
Experience: Advanced
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Trading: CL Crude Oil
 
Posts: 281 since Sep 2011
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Monday August 20, 2012

Made sure all I did was trade above or below the white MA. To the best of my ability I tried buying and selling only pull backs. So far as long as I stick to just buying above the white ema and selling below the white ema I win.

In the morning before the market I look to see where any VPOC are for prior days, or the previous. I want to know if price would run to it during the day, makes a good target, and a way to calculate risk and profit. Normally their is no idea how far it will go before pulling back.

I also mark the initial balance at the first hour of trading. Because again during the day price might, and often does hit these levels again, and it makes for great targets for me. Also I monitor the "major trend" on a daily chart.

The two pictures below on the 5 minute chart. I have to pictures to show what levels I saw and used. The pictures have what pretty much shows what is happening. But price took out two prior days VPOC so that made great targets and a good bounce in an uptrend after hitting the low of the pior day and a very near VPOC

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  #198 (permalink)
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This is a test to see if I get an email saying their was a post.

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  #199 (permalink)
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Upupandaway View Post
This is a test to see if I get an email saying their was a post.

Not for your own posts, but if you are subscribed then you should get this one.

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  #200 (permalink)
Dallas/Tx
 
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Posts: 281 since Sep 2011
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Oh ok...I see. Yaup I got your post, thanks.

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