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Trading Journal - Day Trading Crude Oil with Fibs & S/R


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Trading Journal - Day Trading Crude Oil with Fibs & S/R

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  #11 (permalink)
SLC, UT
 
Experience: Intermediate
Platform: Sierra
Trading: ES CL
 
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Posts: 108 since Mar 2013
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Long 94.73
Stop 94.67

Target open for now

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  #12 (permalink)
SLC, UT
 
Experience: Intermediate
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No trades today. Options ex, rollover in futures. Not a day I want to put on risk.

I find my most profitable days are tues, wed, thurs.

2nd friday of the month in CL is usually good but not options ex.

I'm looking forward to next week!

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  #13 (permalink)
SLC, UT
 
Experience: Intermediate
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I've spent alot of this week churning out some new indicators for TOS. I have alot I want to get done to get up to speed. I have a weekly open, a weekly pivot, monthly pivot, and the NY open plotted on my chart. I also got the Opening Range setup.

Below is a shot of it.

One thing I haven't paid a ton of attention to in the past is volume. I am incorporating it into my trading on the 15 min chart. I want to learn more about how volume spikes affects turning points in the market. Anyone out there use volume extensively? How do you use it?

No trades today. Energy report came out today and there were some wild swings on the ES, Gold, and the Dollar.

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  #14 (permalink)
New York, NY
 
Experience: Intermediate
Platform: Sierra Chart, thinkorswim
Broker: Amp-Rithmic/TT, IB
Trading: CL, GC, NQ
 
Posts: 573 since Nov 2010
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gsl8r View Post
I've spent alot of this week churning out some new indicators for TOS. I have alot I want to get done to get up to speed. I have a weekly open, a weekly pivot, monthly pivot, and the NY open plotted on my chart. I also got the Opening Range setup.

Below is a shot of it.

One thing I haven't paid a ton of attention to in the past is volume. I am incorporating it into my trading on the 15 min chart. I want to learn more about how volume spikes affects turning points in the market. Anyone out there use volume extensively? How do you use it?

No trades today. Energy report came out today and there were some wild swings on the ES, Gold, and the Dollar.

Hi gsl8r, nice journal! Your method/rules are eerily similar to mine. BTW, you didn't happen to learn the 50% entry to -23.6% target methodology from a fellow named DH by any chance, did you?

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  #15 (permalink)
SLC, UT
 
Experience: Intermediate
Platform: Sierra
Trading: ES CL
 
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Posts: 108 since Mar 2013
Thanks: 102 given, 67 received


Futures Operator View Post
Hi gsl8r, nice journal! Your method/rules are eerily similar to mine. BTW, you didn't happen to learn the 50% entry to -23.6% target methodology from a fellow named DH by any chance, did you?

Thanks for the response Futures Operator. I did learn that from DH. I found DH in the summer of 2010 and followed him for about a year. I learned so much from him and it really changed the way I look at the markets now. I branched off a while ago to do my own thing and gravitated to Crude. After trading and watching ES, 6E, NQ, YM, CL, GC and others it was CL that I found to be the instrument that fits my personality the best. I only follow CL now and that is the only instrument I trade as well. Making that transition was hard from watching a bunch of instruments to just 1, but now I find I am able to focus on it and trade much better. My results keep improving and I have never looked back.

I incorporate his ambush trade into my methodology but also incorporate a bunch of other support/resistance studies that have helped bring some clarity to the madness.

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  #16 (permalink)
New York, NY
 
Experience: Intermediate
Platform: Sierra Chart, thinkorswim
Broker: Amp-Rithmic/TT, IB
Trading: CL, GC, NQ
 
Posts: 573 since Nov 2010
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gsl8r View Post
Thanks for the response Futures Operator. I did learn that from DH. I found DH in the summer of 2010 and followed him for about a year. I learned so much from him and it really changed the way I look at the markets now. I branched off a while ago to do my own thing and gravitated to Crude. After trading and watching ES, 6E, NQ, YM, CL, GC and others it was CL that I found to be the instrument that fits my personality the best. I only follow CL now and that is the only instrument I trade as well. Making that transition was hard from watching a bunch of instruments to just 1, but now I find I am able to focus on it and trade much better. My results keep improving and I have never looked back.

I incorporate his ambush trade into my methodology but also incorporate a bunch of other support/resistance studies that have helped bring some clarity to the madness.

Pleasantly surprised that I have much the same experience, learned an unbelievable amount from DH over a few years about all aspects of trading, traded ES, 6E, 6B, GC. Now focusing on CL, love the way it moves and can 'feel' the market of it, and my own methodology incorporating DH style fibs, S/R, ACD, and VSA. Excited that you have much the same experiences/methodology/risk management that I do, will be following your journal closely, and starting one of my own soon as well!

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  #17 (permalink)
SLC, UT
 
Experience: Intermediate
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Trading: ES CL
 
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Posts: 108 since Mar 2013
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Futures Operator View Post
Pleasantly surprised that I have much the same experience, learned an unbelievable amount from DH over a few years about all aspects of trading, traded ES, 6E, 6B, GC. Now focusing on CL, love the way it moves and can 'feel' the market of it, and my own methodology incorporating DH style fibs, S/R, ACD, and VSA. Excited that you have much the same experiences/methodology/risk management that I do, will be following your journal closely, and starting one of my own soon as well!

That is great! Yea I learned so much from DH and it was such a market paradigm shift for me. I am looking to hit things harder from here on out. I am getting some indicators up to speed to help with some new ideas I have learned from journals here on futures.io (formerly BMT). There is a huge amount of knowledge and history here to look at. What a great resource this site has been!

I am getting married next week and will be out all next week but will be monitoring things from my phone as much as I can..... don't want to miss anything good!

I look forward to seeing your journal!

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  #18 (permalink)
SLC, UT
 
Experience: Intermediate
Platform: Sierra
Trading: ES CL
 
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Posts: 108 since Mar 2013
Thanks: 102 given, 67 received

Today the market bottomed on high volume on the monthly pivot line and then ran up to yesterday's low almost to the tick!

I took a paper trade long at 92.70 and held until 93.48. On paper this week until I return the week after.

I am looking to hold longer and trail stops better when the market propagates in my direction. Still torn between taking many smaller targets and trying to hold for a larger move. Tight balance between the two.

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  #19 (permalink)
New York, NY
 
Experience: Intermediate
Platform: Sierra Chart, thinkorswim
Broker: Amp-Rithmic/TT, IB
Trading: CL, GC, NQ
 
Posts: 573 since Nov 2010
Thanks: 1,831 given, 250 received


gsl8r View Post
That is great! Yea I learned so much from DH and it was such a market paradigm shift for me. I am looking to hit things harder from here on out. I am getting some indicators up to speed to help with some new ideas I have learned from journals here on futures.io (formerly BMT). There is a huge amount of knowledge and history here to look at. What a great resource this site has been!

I am getting married next week and will be out all next week but will be monitoring things from my phone as much as I can..... don't want to miss anything good!

I look forward to seeing your journal!

Thanks, and congratulations on getting married! Hope your spouse supports you well in your trading!

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  #20 (permalink)
SLC, UT
 
Experience: Intermediate
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Trading: ES CL
 
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Posts: 108 since Mar 2013
Thanks: 102 given, 67 received


I need to learn to hold longer! It was up at the top of its range but it wasn't breaking and I got impatient and exited.

Looking for longs into the close.

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September 5, 2013


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