Hello, all, iīm back from a business trip i had to make to the states, i didnt have any time to trade but i`m glad i`m back with the enough time to trade, see ya all tomorrow.
I have been on a business trip to the US so i haven't been trading all this week long, but it helped me to see the market with "new" eyes!!,
iīm developing a new strategy that could bring some intraday profits, i call this "THE JUMP"
what is this all about:
1. it works around US market Open time.
2. it already knows the level where to place pending orders (Buy or Sell)
3. it already know where to place target levels.
4. It uses the previous Value Area Levels and POC.
How it works.
Since it is in a developing stage now, what i have found is that you have to select the previous day Value area High and Low and also the Point of Control, i do this with the dValueArea indicator placed in a 30 min CL chart.
this will be my 1,2 and 3 trigger lines depending on the actual price is it can trigger a sell or a buy this also depends on momentum at Market Open, i read momentum from the stochastics 3,9,3.
And basically i let it run till it hits my target(s). it takes about 2 hours to complete the cycle.
i will keep adding on, and if you have any comment please let us know it!!...
i wanted to share the strategy i will be using for this month, since i will not have too much time, we are going into the busiest days of the year in my company, i have to narrow my trading and probably i will be making only one trade a day, but wanted to get the most from the markets this strategy let me get 30 ticks minimum and 100+ ticks maximum,
i will be using previous day High and low, and Previous day Value Area Low and Value Area High and POC (Point of Control) levels, combining this with the Fib extensions tool, i will get my entry point and the targets i want to hit, i have been doing some research, and seems to be a reliable strategy i will be posting at the end of the day my trades,
i have attached an image on how to read and get the correct prep for the trading session i call this strategy "THE jump" and "THE LATE JUMP", in case i miss the US market open Jump i will have the late market jump that goes from 1 EST to Market Close around 2 or 3 PM EST this will give some space to get in the trade.
Quite session, not too much of a move, it seems market is still accumulating it could distribute at close or head for tomorrow, price needs to break 90.62 to head south as for the upside, price is inside a wedge, needs to break upper level with momentum supporting the up move..
Hello, i just closed this trade, the market has been very slow, for some reason it continues to go testing higher highs, without any fundamental reason, but anyways we are here to make some ticks no matter.
i saw a breaker pattern opportunity at highs, i used fib extensions to determine my immediate target, price went up fast to reach it just to reverse after,
I made some time to trade this news, Crude Oil Inventories, it came lower and demand was lower to price should fall and it did, i trade using breaker pattern all the way down to my target points 20 ticks lower, and now iīm waiting to see if i can have AB=CD structure develop to take short on C down to D and then take Long on D.
At first i thought it was a failed pattern, but then realized that price was close to previous high of day, so this was acting as a magnet, the ABCD pattern is now completed, as you can see from my previous post, it was projected to reach the D and the reversal zone...price is now testing it...i didnt get in nor will now, so iīm done for the day.
I wanted to share this basic with you hope help some one, iīve been perfecting my strategy using only three patterns that work perfectly, Breaker, 2 Step, Wave, and i have been learning on how to use the OHLC in conjunction with Momentum that for me is very important in my daily trading as is the divergence with volume, we all know the market has memory, today was a perfect example of that, testing two levels from two days ago, the market went down to this levels and bounce up to test the PREVIOUS DAY LOW, i think this type of trading relies on price action and market history, marking the Open High Low and Close not only from the prior day but two up to 5 days before, this gives me another perspective when the market approaches this levels, i come from the bigger picture 34,21 Range, to the faster time frame, 13,8 Range. to entry.
Market payed well today, my own mistakes made that i only could end with 13+ lessons learned:
1. the first time the price crosses down/up the Value Area Zone it will fill the area completely, i missed the first fill down, i took the second fill long.
2. give some space when taking a position near a two day level i took a position below the VAL right above the Open level of August 6th but it took me out -20 ticks, minutes later the price went all the way up to test the VAL and right after the VAH.
I would like to talk about Trading the Value Area, not all days happen what happened today, testing and filling the area completely 3 times!!, but it for sure will happen at least one time, when there is no agreement on price, the 80% Rule says: "if the price comes back in the Value Zone, and stays in for 30 min there is an 80% chance that the area will be 100% filled" in my case i use 13 Range bars, but for me is easy i just have to see momentum to determine if the price will continue and fill the area.
regarding the Divergence indicator is there any way to add a qualifier to set a minimum number of bars before the
Divergence is labeled and displayed. That is, to only show those divergences that are say 10 or 15 bars wide??
There is a lot that is happening today, well the Empire State Manufacturing came out Negative -5.6, this could mean that there is not much need of Crude, and could be a signal on lower inventories too, this could trigger a sell in the next minutes, if is so, i will be selling the Prior Day Open @ 92.71 beware of Fake the news moves.
Hello tomorrow we have Crude Oil Inventories report and is expected to come at 0.1M, last report came out negative at -3.7M, so this will be a good trading opportunity tomorrow, i will be using JOBB or Jay Ofner Bracket Breakout to enter 5 secs before report time announcement, i will let you know how it goes.
I have tested JOBB script on crude oil inventories, it took 10 ticks, then took 3 ticks,
for a total of 13 ticks. the reaction wasnt that strong but gave some space, i will trade NG inventories tomorrow.
I have been following the NG and it looks quite good, i have set my self to trade this only on news, once a week, when the natural gas report is released, today i will trade this news the forecast is 40B, it could jump up or down up to 80 ticks. i will trade 1 after the report is released to avoid spikes, i will be using JOBB to trade it.
Trade closed for +10 ticks, this was due to a mistake of mine, i set the bracket to be active 1 minute after the news been released, i should have changed this to 5 seconds before the release...but anyway...10 ticks.. in auto..good.!!!
I like to post my trade for today,... great day by the way, news came out to move the market quite good.
i place a trade using this strategy iīm testing and took a very good trade.
I thought i was the only one around these parts to brave the oil markets.. i took 13 then closed down shop. to much chop. Ive been studying your phod and plod. Quite interesting...
I have been day trading full time for 3 years. First 2 years stocks and E-mini with little success. Finally, i found a method which suits my style and i have been day trading Crude Oil for over a year now. My trading method is based off Mark Fisher ACD …
Surfing is often used as an analogy to trading, and most traders dream of catching the big waves. But, similar to trying to surf monster waves, if you haven't acquired the necessary skills to do so, you 'll probably wind …
I would like to start with a simple statement of the primary idea of this post is to help me. Yes, I said me. I hope it will help you as well, but, to be honest, if it helps me and not you, then I am still happy. :) I can't help you …
Hello, i wanted to share with you the times where the market will likely to turn and reverse and you can capitalize on this, so far this system is accurate an 80% of the time, and there is a range of 2 to 10 minutes before/after that can move the market.
Very good day, on Crude i made a combination of trend and historical trading, to profit from the market today,
3 trades that ended making 51 ticks. not bad at all, iīm posting my workspace (this is my jobīs machine) but yet
powerful, if you are interested in this setup and indis, please Pm me.
Closed a trade on CL, for a small 10 Ticks profit, well is sunday, but the best thing of all is to have the correct tools to asses the market correctly even on a Sunday.
Some people have been emailing me about my trading on Crude, about my trading plan, well, first of all i do trade Crude but also trade the ES, (S&P 500) and have a plan to trade on it.
Now regarding the Crude, i normally take 10 tick profit trades but this have a reason, the reason is my plan, i have a plan, a very conservative plan to reach x amount of money in the next 3 months, i have put the same plan here only that is beginning with as little of $2500 ( i would recommend start with $5000 as a minimum to trade CL), if some one wants to see the plan, please download it.
it think is a good approach to trade this Beast called Crude Oil, you can adjust to your desire, but i think this could work for everyone.
Long time no see..!!! i have traded the crude today after the news inventories report that came out negative.
i ended with 25+ ticks, so i will call this a day, and follow my plan.
I wanted to show you what i do to trade accordingly with the trend, you know the famous quote "the trend is your friend" so i have made a mix of price structure, price action and trend trading, the indicators i use (attached in image) let me know where the price is going and where is likely to reverse and continue the trend, basically i use WMA, HMA and EMA combination of periods.
I use
HMA @ 208
EMA @ 200
EMA @ 100
EMA @ 80
WMA @ 200
The heavy lines are WMA 200 and EMA 200 this for both side, Short and Long,
The Medium lines are EMA 80 and EMA 100
The Trigger or Magnet Line is HMA 208
Long Scenario.
If the EMA 100 is above EMA 200 a long trend is on track and confirmation of a lon trend comes when the EMA 200 crosses up the WMA 200.
Entry: Whwen price touch and reverse EMA 80 or EMA 100 and momentum (stochastics, MACD, etc) confirms a reverse.
Target: this could be your selection according to your management plan, or the HMA 208 the "magnet Line",
Broker: Thinkor Swim for Charts an Infinity Futures for Trading Dom
Trading: Oil
Posts: 52 since Jul 2012
Thanks: 448 given,
46
received
J.D
Just finished reading your Journal and I think it is very interesting and informative and I am glad you are doing well. I have learned quite a bit and will spend the weekend digesting it all. I trade cude as well using trend lines and LOD and HOD lines among other things in trying to tame the monster as well. I do not use range charts but have started playing around with them on Think or Swim, could you tell me how many ticks to a range bar. I currently use Think or Swim and there range bars are different I think and I have been playing around with them after reading DaveL's journal and following his trades recently.
Baiscally I wanted to say thanks for being so open with your info and trading tactics and the studies you are using. It is great to not have to reinvent the wheel again. I will be following you to see what you are up to next and pass any info on if I can to help all of us to be successful with this monster we call Crude.
Thanks!!, itīs good to be here in this great forum, we all learn tons every day here, iīll keep posting since is a way for me to stay in track with my trading goals and discipline.
I wanted to share with you a note on Big Round Numbers (BRNīs) combining this with our normal trading structure and strategies, this could turn someone steady profits and great control on your personal trading, i have applied this to Crude but can be applied to any instrument you trade.
personally i use this on my eMini S&P trading. it is explosive!! and makes me feel secure on my daily trading, (altough because of my job i cannot trade every day as i would lke) but soon i will say "Full Time Trader" long road!!! (this is another topic ), but at the end i wanted to share this for you to trade and use it if works for you.
This is my Main Chart i use for Trading CL , It consists of Standard Renko Bars 7 pip size from Ninjatrader7 with Heikin Ashi overlay.
Supported by Indicators:
a1MarketReminders
PriceActionSwing
RSqueeze
i am interested in making this a better Trading Screen for my Entry/Exits.
i will most likely join the Elite membership to see what i may learn from it's members.
here is a pic of the main setup.
The following 2 users say Thank You to sandptrader for this post:
Try a smaller renko like a 2 or 3. Trade price action hh hl ll lh. And use the squeeze for divergence trades you will definitely be able to make some money with that
The following 2 users say Thank You to trippenlatin for this post:
I wanted to add a bit on trading with Big Round Numbers,
what i wanted to add is about mid numbers (MNīs) we said that the most important BRNīs are 00,20,50 and 80, the market trades around this numbers and you could look for responsive buying and responsive selling at this levels and position yourself accordingly, Now, the MNīs are the following,
10, 35, 65 and 90, so you end up with a complete set of levels where you could enter/exit your trades,
this will be, 00, 10, 20, 35, 50, 65, 80 and 90.
TIP: when you see an opportunity to enter on one of this levels, you could set your entry 5 ticks above/below your BRNīs/MNīs, the 90% of the time the price will go further about 5-8 ticks above/below the level chosen, why does this happen? well is similar to a car, that need some distance when you hit the breaks to the point you want to stop, you start breaking well before the light that says "STOP", in the market is the same, it needs some room to finally stop completely and start reversing.
today has been a clear example of this, and since is a Sunday, i normally not trade, but when i trade i scalp the market, but the market has proven itself that this really works!!
I hope all of you are having ticks of profit for your accounts, i just finished my trading, ended with +21 ticks. in this account, i see a last probable trade forming but will not rush into it, basically the BRNīs have worked perfectly today, and that let me grab some ticks in the minutes i have free to trade.
Hello, i just closed my first two trades of the day, i see the market in a range 92.35 and 93.00 i expect a break from this and will trade the break or any retracement. we don't have any news catalyst today so i need to have my eyes wide open to any change in market sentiment.
I had a closer look again at the RSqueeze and discovered that the Bollinger Band squeeze is not optimal. Actually it triggers too many signals and I will try to explain what is the problem.
Original Definition of Bollinger Band Squeeze:
The Bollinger …
The following 3 users say Thank You to Silvester17 for this post:
here is my attempt to load the Template i use, hopefully i did this correctly.
a few words on this Template:
Its Not the Holy Grail, there is not such a system that i know of.
I use this Chart setup along side other Renko size charts such as 3, 4 and 10 Renko bar size with this Renko 7 size, all with their own dedicated chart.
Also i do use minute charts from 1 minute up to Daily to scan through to make my decisions for Trades.
My suggestion is to build Individual Charts for each time frame and leave the Size bars alone, Not changing them for that chart during the day.
Please Test this type of Charting out before making Live Trades, Observe the Renko Charts compared to Minute type Charts.
The following 5 users say Thank You to sandptrader for this post:
Not Sure what the " X " means there on the File, But most likely i did something wrong, let me know and i will try and get it uploaded correctly, my first time trying to share a Template.
The following user says Thank You to sandptrader for this post:
Hello, here is my first trade of the day, i will trade the next one after the Crude Oil Inventories, probably weīll see some action today, +10 ticks trading on BRNīs, and MNīs. crude is in a downside as far can tell, but any surprises can come,
Thanks for sharing your template with other futures.io (formerly BMT) users. You did nothing wrong, the "x" in the attached file description I believe just indicates you have uploaded an ".xml" file. Had you uploaded a ".doc" file than a "w" icon would appear indicating it is a MS Word file extension.
Thanks for sharing,
Sean
The following 2 users say Thank You to trade65 for this post:
THis could help someone, it is an strategy based on BRNīs or Big Round Numbers, it is based on a Renko chart of 3 but you can use it as better suits you, for me i trade the 3 and 4 Renko charts, anyway, it is quite profitable, i use it all the time, wanted to share this with you,
what you need:
Renko 3 Chart,
Round Numbers indicator
TDI indicator
Stochastic indicator with the settings of 3,8,3.
Current day OHL
Prior day OHLC
Heiken Ashi ATM Swing (Not necessary but useful)
I have attached the template for this strategy.
LONG Entry Setup:
1. a MUST with the TDI Indicator: The price line (Green) have to cross up the signal line (red) BUT BOTH lines HAVE to be ABOVE the Bollinger Average (Yellow).
2. Stochastic Below 20 and Crossing upwards.
3. Be around a Big Round Number (00,20,50,80) or a Mid Number (10,35,65,90)
Today we have the expected number of NFP, it is expected to come at a 114k, if the number is higher above 120K will see the price on Oil could rise, as consumption will rise too.
I just closed my first round trade, it was for 20+ ticks. probably will take one or two more trades depending on market reaction and movement, but for now, i could say that ended the week with a good amount of ticks in the pocket.
The system and strategy works almost to the perfection.
Iīm trying not to be greedy, and keep profits in the right side (my account and bank)
This is how i ended with this account this week.
so far so good, i can see my trades are really short related to time, but profitable. i hope i can keep focused and maintain this performance along all the month.
Thank you JD for your post, it is a Nice Profitable week for you.
what it shows me is your dedication to your System, your ability to wait for Good Set ups and Money Management Skills. This All Equals a Good Trader and Profits by the End of the Week, like you have shown.
Great Job and Thanks again for posting your Trades and Trade Record for the Week.
You know, a little profit each day does add up.
The following user says Thank You to sandptrader for this post:
JD
First thank you for the thread.... Great and please keep posting trade examples.
Question Please
The pivots are the current and prior day OHLC and do you draw in your BRN's or is there an indicator for this.
Thanks
Fasttraxs
The following user says Thank You to fasttraxs for this post:
About your question, i use the current day OHLC and prior day HLC indicators also as my pivots but also as where the market values price,
regarding the BRNīs i use an indicator that plots the lines for me, itīs called round numbers i have attached it here for you.
ok, we are here, letīs see what the market brings, so far what i can read and is interesting is this article:
feel free to read.
Speculative traders in energy futures on the ICE Europe Exchange increased their bullish bets on Brent crude by 6,422 contracts to 113,549 contracts, or 6%, during the week ending October 2. This was in sharp contrast to WTI, where speculators reduced their exposure by 12k contracts to 166k contracts as the discount to Brent crude continued to climb. Gas Oil net long rose by five percent and remains elevated.
Hello, I just closed my second trade for the day, the first wasn't that good but the second trade payed well, iīm 21+ ticks for the day, the market is nervous with out any major news it will react to any and everything, i will keep an eye posted on the news reports, but yet i see a very good day for trading.
I have to go to work, but will keep posting any other trade i do, or opportunity i see.
I just arrived my machine, i was preparing my self to leave for work,
i see this!!! price went down!!!...but why??!! it was looking like a pretty up move.... but wait!, i checked the image i uploaded on my trades in the previous post, and i found why!!! that is LATE BIG BUYERS TRAP!!
i check the image and realized that a bunch of orders came in late in the range of 90.60 - 90.65, those were big orders, but the price didn't continue going up, some time later they tried to push the market up this zone, and start closing their positions, what is going to happen???, downside price!!!:...
this happens 3 max 4 times a day you could capitalize on this if you see it..!!!
Well today has been quite a roller coaster in the beast! (Crude), i have been outside my office, but i could take this trade 10+ ticks, lets see what happens at market close..
Hello, quite good action today in the crude market, break of a descending channel this means a possible selloff could be in place, ahead of crude oil inventories at 11:00 EST, that i think will come higher and will cause a price fall.
Amazing trading day today!!, at the end i finished with my 20+ ticks, i have been in meetings all day, but at least made some ticks!!,
Important levels to watch overnight session and friday:
Price is a a wedge within a larger wedge, price needs to break 92.90 to go higher,
or 91.55 to go lower, if price breaks 92.90 will target 93.60, and if breaks 91.55 will target 91.00, 90.00 and 88.20
I just see the market with the intention of break some levels today to finish this week, i have posted my last trade of the week i don't think i will trade the rest of the day, although i think will give very good opportunities to grab some ticks!!, i closed my trade for a 12+ ticks. i have posted this trade and the levels i see important on the CL.
hector24, i was watching Both Renko Charts size 5 and 7 when i made the Trade.
Also if you look at both charts when the Trade was placed the RSqueez indicator was sloping upwards towards the zero line.
I had Positive Colored Bars for the Buy Signal.
also i was looking for a Retest of the upper Horizontal line on each chart as it was current Short term Resistance.
There are so Many good Trades during the day on CL, i just try and get one or two positive Trades for now.
I placed Target for 25 Ticks and it was hit.
