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Crude Oil trading
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Crude Oil trading

  #421 (permalink)
 Vendor 
El Salvador/Israel
 
Futures Experience: Intermediate
Platform: Ninjatrader 7
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My opening range..it is a 5 minute Range...this was the high value...

JD



EugeneN View Post
why 96.53?


J Dennis Neeman.
Learning..always learning...
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  #422 (permalink)
Trading Apprentice
Chisinau, Moldova
 
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i am bullish until .7-8, lets see what s going to be there, i lost some ticks today

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  #423 (permalink)
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I was bulish..

i just closed my long position...untill i see more clearly a sing to go higher...

My 5 Minute..chart, price has reached the 61.8 %....

JD.-




EugeneN View Post
i am bullish until .7-8, lets see what s going to be there, i lost some ticks today


J Dennis Neeman.
Learning..always learning...
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  #424 (permalink)
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i just love the market today

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  #425 (permalink)
Trading Apprentice
Chisinau, Moldova
 
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Just as a question, if its not a secret how many contracts (position) do you guys trade? i am usually not more than 3 contracts, as i consider cl a very volatile contract and a smooth change can change my account considerably

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  #426 (permalink)
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Yes i would say no more than 4...3 is already risky,,,,of course depending on your account amount....

JD



EugeneN View Post
Just as a question, if its not a secret how many contracts (position) do you guys trade? i am usually not more than 3 contracts, as i consider cl a very volatile contract and a smooth change can change my account considerably


J Dennis Neeman.
Learning..always learning...
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  #427 (permalink)
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Crude Oil Trading 23 Jan

well,...

I just closed a short trade i took at the 61.8% resistance.

i only took 15 ticks. price continue south,...but enough for my plan.!!

Cheers.

JD

J Dennis Neeman.
Learning..always learning...
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  #428 (permalink)
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About the 50% Balance Line

Interesting how the market respect this levels,

i have been using this balance line level since i started trading, and i think is good to let this know to other traders,
what we do (all traders that use this method) is:

PHOD+PLOD/2, for example yesterday´s high was 96.90 and the low was 95.47 if we take this:
96.90+95.47 = 192.37/2= 96.185 approx. next number 96.19.

you can see today this number was tested to the tick and triggered a trade that resulted in a move of about 45 ticks.

you can add this levels for the day before up to 4 days back in time.

it will give you this levels that some call "Hedge Fund Levels"...

JD.

J Dennis Neeman.
Learning..always learning...
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  #429 (permalink)
Trading for Profit
new york
 
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JDNeeman View Post
Interesting how the market respect this levels,

i have been using this balance line level since i started trading, and i think is good to let this know to other traders,
what we do (all traders that use this method) is:

PHOD+PLOD/2, for example yesterday´s high was 96.90 and the low was 95.47 if we take this:
96.90+95.47 = 192.37/2= 96.185 approx. next number 96.19.

you can see today this number was tested to the tick and triggered a trade that resulted in a move of about 45 ticks.

you can add this levels for the day before up to 4 days back in time.

it will give you this levels that some call "Hedge Fund Levels"...

JD.

I use the anas daily pivots and the CP central pivot is set up for that balance number

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  #430 (permalink)
Elite Member
stamford, connecticut
 
Futures Experience: Beginner
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Posts: 14 since Apr 2012
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Hi JD,

I understand that you use a 5 minute opening range because you deal in small time-frame bars/trading, but my initial guess would be that the 5 minute opening range wouldn't really be indicative of anything that you could use to forecast the day's trend. Obviously it works for you. What do you think it is that makes the 5 min OR significant when the big boys probably aren't basing anything off of it?

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