Trading CL using a fibonancci approach - futures io
futures io futures trading



Trading CL using a fibonancci approach


Discussion in Trading Journals

Updated May 4th 2013 by RickD
      Top Posters
    1. looks_one Brewer20 with 69 posts (14 thanks)
    2. looks_two zr1trader with 10 posts (2 thanks)
    3. looks_3 shopster with 3 posts (1 thanks)
    4. looks_4 COTtrader with 1 posts (1 thanks)
      Best Posters
    1. looks_one COTtrader with 1.0 thanks per post
    2. looks_two shopster with 0.3 thanks per post
    3. looks_3 Brewer20 with 0.2 thanks per post
    4. looks_4 zr1trader with 0.2 thanks per post
    1. trending_up 8,309 views
    2. thumb_up 19 thanks given
    3. group 12 followers
    1. forum 85 replies
    2. attach_file 67 attachments




Welcome to futures io: the largest futures trading community on the planet, with well over 100,000 members
  • Genuine reviews from real traders, not fake reviews from stealth vendors
  • Quality education from leading professional traders
  • We are a friendly, helpful, and positive community
  • We do not tolerate rude behavior, trolling, or vendors advertising in posts
  • We are here to help, just let us know what you need
You'll need to register in order to view the content of the threads and start contributing to our community.  It's free and simple.

-- Big Mike, Site Administrator

(If you already have an account, login at the top of the page)

 
Search this Thread
 

Trading CL using a fibonancci approach

(login for full post details)
  #31 (permalink)
Denver, CO
 
Experience: Intermediate
Platform: T4/TOS
Trading: ES
 
Posts: 110 since Jun 2012
Thanks: 71 given, 91 received

3/8/2013, trade6:
Short at 91.27, target 91.09
  • 1st target hit
  • Stop to 91.33
  • Stop to 91.24
  • Out, +9 ticks

Plan your trade, trade your plan.
Attached Thumbnails
Click image for larger version

Name:	pic6.JPG
Views:	15
Size:	156.0 KB
ID:	105233  
Reply With Quote

Can you help answer these questions
from other members on futures io?
Convert NinjaTrader NT7 indicator to Tradestation EasyLanguage and RADARSCREEN
Platforms and Indicators
Issue meeting order entry conditions
Elite Automated NinjaTrader Trading
Last 5 minutes Label
ThinkOrSwim
Moving average with Lag reduction
NinjaTrader
Linux?
ThinkOrSwim
 
Best Threads (Most Thanked)
in the last 7 days on futures io
FIO Journal Challenge - June 2020 w/SharkIndicators
67 thanks
Spoo-nalysis ES e-mini futures S&P 500
65 thanks
June Charity Fundraiser - Feeding hungry families (2020)
51 thanks
Fixed vs trailing stops
28 thanks
AMP Futures / AMP Global Review
27 thanks
 
(login for full post details)
  #32 (permalink)
Denver, CO
 
Experience: Intermediate
Platform: T4/TOS
Trading: ES
 
Posts: 110 since Jun 2012
Thanks: 71 given, 91 received

3/8/2013, trade7:
Long at 91.12, target 92.23 (typo on chart, actual entry is 91.12)

Small counter trend trade into next MM short.
  • 1st target hit
  • Stop to 92.09
  • Out, net +3 ticks

Plan your trade, trade your plan.
Attached Thumbnails
Click image for larger version

Name:	pic7.JPG
Views:	15
Size:	156.5 KB
ID:	105238  
Reply With Quote
 
(login for full post details)
  #33 (permalink)
Denver, CO
 
Experience: Intermediate
Platform: T4/TOS
Trading: ES
 
Posts: 110 since Jun 2012
Thanks: 71 given, 91 received


3/8/2013, trade8:

Short 91.23, target 90.99
  • 1st target hit
  • Stop to 91.29
  • Out BE, 0 ticks

Plan your trade, trade your plan.
Attached Thumbnails
Click image for larger version

Name:	pic8.JPG
Views:	13
Size:	165.7 KB
ID:	105243  
Reply With Quote
 
(login for full post details)
  #34 (permalink)
Denver, CO
 
Experience: Intermediate
Platform: T4/TOS
Trading: ES
 
Posts: 110 since Jun 2012
Thanks: 71 given, 91 received

3/8/2013, trade9:
Long 91.27, target 92.05
Full stop, -24ticks.

I should have stuck with my original plan.

Plan your trade, trade your plan.
Attached Thumbnails
Click image for larger version

Name:	pic9.JPG
Views:	20
Size:	167.5 KB
ID:	105246  
Reply With Quote
 
(login for full post details)
  #35 (permalink)
Denver, CO
 
Experience: Intermediate
Platform: T4/TOS
Trading: ES
 
Posts: 110 since Jun 2012
Thanks: 71 given, 91 received

I'm stopping for the day. Too many mental mistakes.

March 8th, 2013 summary

Total trades: 9
% BE: 77%
Total pips: -33

Plan your trade, trade your plan.
Reply With Quote
 
(login for full post details)
  #36 (permalink)
toronto canada
 
Experience: Master
Platform: mt4 , ts, nt , cqg , m4
Trading: spot $, texas grease, jet fuel , quicksilver.
 
shopster's Avatar
 
Posts: 70 since Mar 2012

Brewmaster,

you are misreading the session fib moves.

.86 retrace from the dark zone low into the Ny session

Ny session morning hi to Ldn session lo is a .86 retrace as marked.

a double tap pinned out high roll over and puke to the .74 retrace in Ny session as marked.

back up to a .38 retrace of current Ny session range.

back down to take out the Ny session low of the day and to fill " new short pending " orders.

express elevator up for the stop run blow out on all the new breakout low of the day shorts

grease pit friday close will be just off the high of the Ny session as the longs unwind.

pm in your in box.

cheers,

s

Attached Thumbnails
Click image for larger version

Name:	grease long at .74  ny session.gif
Views:	113
Size:	28.3 KB
ID:	105260  
Reply With Quote
 
(login for full post details)
  #37 (permalink)
Denver, CO
 
Experience: Intermediate
Platform: T4/TOS
Trading: ES
 
Posts: 110 since Jun 2012
Thanks: 71 given, 91 received

I've spent some time reflecting on my results for the week. All in all, I'm happy with how I am reading the price action. For the most part, I am correct on the direction the market wants to go.

Two things I am going to change and improve for next week:

1) First, my trade management sucks. The free trade technique sounds good, and does have some emotional benefits, but it has a very poor RR ratio. I analyzed all my trades this week, and I would have been much better with market based first targets, rather than fixed. Even though I would have been stopped out a few more times, this would have substantially improved my profitability.

On all my charts, I have targets denoted by the green -23% line. Price often reaches there, and I was doing nothing, other than trailing my stop. I gave back too much on each trade. I need to take profit at the profit targets my method defines.

2) I need to control my emotions better. I get way to involved with the outcome of any given trade. My judgement gets clouded and I stop objectively observing the market. This will be a continuous improvement process.

I watched futurestrader71 recent webinar and got some good ideas. I'm looking forward toward another good week next week and continuing to improve my trading.

Plan your trade, trade your plan.
Reply With Quote
 
(login for full post details)
  #38 (permalink)
Denver, CO
 
Experience: Intermediate
Platform: T4/TOS
Trading: ES
 
Posts: 110 since Jun 2012
Thanks: 71 given, 91 received

After this early morning sell off, I am liking the long side on CL.

I am making a change to my trade management. I am no longer using a fixed 12 tick stop and a +6/-6 free trade strategy. I will be using my fib drawings to locate stops. For today, I will be trading all-in all-out, and half size from what I have been. I will be collecting live statistics on this style of trade management.

3/11/2013, trade1:
Long 91.29, target 92.38
  • Initial stop 91.21
  • Entry is now behind the full half way back, moving stop to entry
  • Out, 0 ticks

Plan your trade, trade your plan.
Attached Thumbnails
Click image for larger version

Name:	pic1.JPG
Views:	14
Size:	190.1 KB
ID:	105445   Click image for larger version

Name:	pic1b.JPG
Views:	9
Size:	153.2 KB
ID:	105446  
Reply With Quote
 
(login for full post details)
  #39 (permalink)
Denver, CO
 
Experience: Intermediate
Platform: T4/TOS
Trading: ES
 
Posts: 110 since Jun 2012
Thanks: 71 given, 91 received

Looks like continued down side. Per my rules, there are two (well three, but two for now) prices I can short.
The first is is this ext short.

3/11/2013, trade2:
Short 91.00: target 90.87, stop 91.09
Out: -9 ticks

Plan your trade, trade your plan.
Attached Thumbnails
Click image for larger version

Name:	pic2.JPG
Views:	10
Size:	146.1 KB
ID:	105453  
Reply With Quote
 
(login for full post details)
  #40 (permalink)
Denver, CO
 
Experience: Intermediate
Platform: T4/TOS
Trading: ES
 
Posts: 110 since Jun 2012
Thanks: 71 given, 91 received


The next level is the next HWB short in the series. If this breaks I will be looking long.

3/11/2013, trade3:
Short 91.18: target 90.78, stop 91.29
Out, - 11 ticks

Plan your trade, trade your plan.
Attached Thumbnails
Click image for larger version

Name:	pic3.JPG
Views:	13
Size:	148.4 KB
ID:	105458  
Reply With Quote


futures io Trading Community Trading Journals > Trading CL using a fibonancci approach


May 4, 2013


Upcoming Webinars and Events
 

Free BloodHound Licenses for everyone!

June
 

Every journal equals ten meals for the hungry

June
     



Copyright © 2020 by futures io, s.a., Av Ricardo J. Alfaro, Century Tower, Panama, +507 833-9432, info@futures.io
All information is for educational use only and is not investment advice.
There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
no new posts