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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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  #61 (permalink)
SLC, UT
 
Experience: Intermediate
Platform: Sierra
Trading: ES CL
 
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Posts: 108 since Mar 2013
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I was hoping for a better day today and also more time. Today got shot with meetings and ended up in an afternoon long that I couldn't manage and get out of, hence full stop out.

1. Long based on break of OR and anticipation of A-up

2, 3 Sells at highs. I think I will always be a contrarian and taking the opposite trade against the initial move. I am working to get away from this! If I could get this right I would be profitable.

4. This was my afternoon trade that I got stuck in a meeting over and took the full stop out on.

I noticed the markets ran into a ceiling and just couldn't push any higher. Should have found a good short at that point and held it. Its hard to do that with A-up confirmed but would have been a great area to short.

I need to work harder at being on the right side of the trend. No more fading moves is my goal for the rest of the week.

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  #62 (permalink)
Singapore
 
Experience: Intermediate
Platform: X trader, meta trader, oanda, city index, ninja trader
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gsl8r View Post
Feel free to post a screenshot of what your looking at or your rules or whatever you would like. Tick charts are the way to go because they open up the high volatility times and allow you to see more price action rather than a single candle on a 5 min chart or whatever time frame you are looking at.

I posted my rules above but have a few changes already and will be posting those.

I like to hear of other DH traders out there cause they are most likely on the same page as me. I still have alot to learn but feel ahead having been down that road for a few years.


Hi,

Thanks for the thread.
Can you post more information on "DH trader"? Or is there a site that I can visit?

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  #63 (permalink)
SLC, UT
 
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deltok View Post
Hi,

Thanks for the thread.
Can you post more information on "DH trader"? Or is there a site that I can visit?

Deltok

DH refers to David Halsey. He runs Emini Futures, Trading Strategies, Live Emini Trading Room & Trading Videos - Emini Addict.

He is a fantastic trader and has a great trading methodology. He looks for 50% pull-backs in the direction of the trend and enters on those. There are also anchor entries and extension entries. You will have to sign up with his site and watch the webinars if you want a full explanation. From my experience it is well worth the money. He should definitely charge more for that content but doesn't for some reason. I've read a hundred books, followed so many traders, and when I look at how I trade now, 75% of it comes from what he has taught.

Good luck

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  #64 (permalink)
SLC, UT
 
Experience: Intermediate
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Below are my results for today. Followed my plan today and did good.

1. Entry short based on new lows / lower highs. Once we bounced higher this is a great pull back entry long for some sort of a move. It is a high probability move but I just had my order too low. I thought there would be more of a pullback.

2. Entry long based on the above methodology.

3. Entry short, was hoping for a pullback to the OR and then a drop, didn't happen. I held this for a loss for a but and then exited for a small gain on the OR.

4. If you draw an extension from 106.15 to lows of 105 you will see the 50% pull back sitting right at 105.57. It is the orange line on the screenshot. This was the entry short. I got it slightly below it but should have nailed it. I got out of this entry way too early as it panned out to be a nice winner.

Didn't see the rest of price action after that.

Done for the day. Followed my rules, and things worked out.

Note: I am still on sim and refining my edge, I plan to go back live in 2-3 weeks.

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  #65 (permalink)
SLC, UT
 
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I had a really busy morning today at work with meetings and other commitments. I wasn't able to see the market until after everything had just happened.

No trades for today

I noticed that inventories were flat, nothing exciting there. It looks like a descending triangle setup and then a break on the OR. There were nice touch and move aways on the midline of the OR at 105.14. I need a name for those. Midline trades I guess.

Looking forward to tomorrow, attached is a chart for reference.

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  #66 (permalink)
SLC, UT
 
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I did a single over night trade from the pivot high (upper grey line) down to support. My stop was 20 ticks. I didn't think we would get such a big sell off but this trade worked out nicely.

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  #67 (permalink)
Puerto Rico
 
Experience: Intermediate
Platform: thinkorswim
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Nice thread, been Sim trading CL too for 3 weeks now using a similar style trading the OR with single color candles and the 3/10 oscillator.

I use ToS too and was curious about how you make the Buy-Sell arrows on the charts, been trying to find a way to better document entries.

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  #68 (permalink)
SLC, UT
 
Experience: Intermediate
Platform: Sierra
Trading: ES CL
 
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Posts: 108 since Mar 2013
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rmejia View Post
Nice thread, been Sim trading CL too for 3 weeks now using a similar style trading the OR with single color candles and the 3/10 oscillator.

I use ToS too and was curious about how you make the Buy-Sell arrows on the charts, been trying to find a way to better document entries.

Nice! Good to find someone else trading like me. I hate that there is no way of showing live orders on TOS and I've talked to them about it many times to hopefully get it in a future release.

Here is how I do that. I create a text box with buy, sell. Then click on the text box and go to edit properties, then do arrow YES, alignment RIGHT. I colored them green and red and then just draw a trendline to connect them. Once you have a buy and a sell setup you can just easily click duplicate to get another one easily.

I really like seeing my live entries on the chart and feel like it does so much more in documenting a day. You can see where you could have done better and see more info than just your price buy/sells.

Good luck

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  #69 (permalink)
Puerto Rico
 
Experience: Intermediate
Platform: thinkorswim
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Trading: ES
 
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gsl8r View Post
Nice! Good to find someone else trading like me. I hate that there is no way of showing live orders on TOS and I've talked to them about it many times to hopefully get it in a future release.

Here is how I do that. I create a text box with buy, sell. Then click on the text box and go to edit properties, then do arrow YES, alignment RIGHT. I colored them green and red and then just draw a trendline to connect them. Once you have a buy and a sell setup you can just easily click duplicate to get another one easily.

I really like seeing my live entries on the chart and feel like it does so much more in documenting a day. You can see where you could have done better and see more info than just your price buy/sells.

Good luck

Thanks for the tip. I am drawing "Time Levels" on my charts and coloring them green/red/cyan to mark the entries, exits and stops. Live orders on the charts would be awesome, like the Strategies tab on Studies. When documenting to review trades the entries and exits on charts make a big difference IMO.

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  #70 (permalink)
SLC, UT
 
Experience: Intermediate
Platform: Sierra
Trading: ES CL
 
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Posts: 108 since Mar 2013
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rmejia View Post
Thanks for the tip. I am drawing "Time Levels" on my charts and coloring them green/red/cyan to mark the entries, exits and stops. Live orders on the charts would be awesome, like the Strategies tab on Studies. When documenting to review trades the entries and exits on charts make a big difference IMO.

Feel free to post a chart here

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September 5, 2013


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