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cunparis journal, thoughts, and more
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cunparis journal, thoughts, and more

  #841 (permalink)
Market Wizard
virginia
 
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cunparis View Post
Last week I said I'd post my P/L on a losing day..

Overall scalping was profitable but the two mistakes wiped me out. ...
The quest continues..

I remember you had an identical post before.

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  #842 (permalink)
Trade with the flow
Paris, France
 
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cory View Post
I remember you had an identical post before.

Good point.

If I trade crude again I will try 5 tick target and 10 tick stop for tomorrow. I also have to be alert for big moves after the crude pit open. Once ES opens it tends to trend less and I do better.

 
  #843 (permalink)
CL Assassin
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cunparis View Post
Good point.

If I trade crude again I will try 5 tick target and 10 tick stop for tomorrow. I also have to be alert for big moves after the crude pit open. Once ES opens it tends to trend less and I do better.

Cun,

You have a system in which you can consistently take an entry where a 10 tick stop makes sense with regards to what price is doing or just picking "10" because?

I am sure you already know you have to be right 75% of the time with this stop/target. Do you have data which also supports this?

I don't think fixed targets make sense for most people, especially with something that can move as much as CL does.

Sorry if I am stating the obvious.

Gary

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  #844 (permalink)
Trade with the flow
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Gary View Post
Cun,

You have a system in which you can consistently take an entry where a 10 tick stop makes sense with regards to what price is doing or just picking "10" because?

I am sure you already know you have to be right 75% of the time with this stop/target. Do you have data which also supports this?

I don't think fixed targets make sense for most people, especially with something that can move as much as CL does.

Sorry if I am stating the obvious.

Gary

Thanks Gary for the feedback. I value your input because you have a lot of experience with crude.

For your first question, I'm picking 10 because if it doesn't go my way right off it usually goes a few ticks against me. But by the time it goes -10 ticks then it's not as likely to come back. I'll need more data to pinpoint this better. I've been putting it a few ticks away from a high or low. I think -10 is a good number and I can move it in a few ticks if I can.

Most of the time I can get out of a losing trade with 1 or 2 ticks or -1 or -2 ticks. If it doesn't move my direction right away I start looking to exit. So a 75% win rate would be required if every trade was +5 or -10. In reality most -2 to +6.

My reason for the fixed target was to see if +5 is hit consistently and if so how much farther did it go? When I have enough data I can extend the target a few ticks if possible.

On the other hand I'm serious considering focus on ES. I have noticed that I have been "busy" scalping crude and have missed some good setups on ES. Crude pays a lot more because there are many more opportunities but at the same time crude has more risk.

 
  #845 (permalink)
Trade with the flow
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Brainstorming here..

Two other choices:

Euro - a bit less volatile than crude which makes it easier to read the DOM and less likely to run 30 ticks against me in a minute.

TF - even slower than euro. One big advantage is that I can use my ES analysis as TF usually moves in tandem with ES.

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  #846 (permalink)
Elite Member
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cunparis View Post
Brainstorming here..

Two other choices:

Euro - a bit less volatile than crude which makes it easier to read the DOM and less likely to run 30 ticks against me in a minute.

TF - even slower than euro. One big advantage is that I can use my ES analysis as TF usually moves in tandem with ES.


Hi CP,

When you were in L2ST, how many ticks did it go against Kam? I mean if he traded the ES for example, how good were his entries? How many ticks did it go against him?

Thanks!

Regards,
TT

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  #847 (permalink)
Trade with the flow
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Tradetronics View Post
Hi CP,

When you were in L2ST, how many ticks did it go against Kam? I mean if he traded the ES for example, how good were his entries? How many ticks did it go against him?

Thanks!

Regards,
TT

He was trading crude at the time and from what I remember he used a 10 tick stop for crude. But I remember him cutting it quicker.

 
  #848 (permalink)
Trade with the flow
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More brainstorming today. Anyone & everyone are welcome to participate. Ask questions. Let me know what you think. Call me an idiot I don't mind.

Tuesday Nov 2:
Bund +40 euros
Dax -1 tick (-12.50 euros)

The dax was the most calm I've ever seen it. Bund was too until it shot up 15 ticks only to retrace it all. So I was very cautious going into the US session. I decided to trade Crude & Euro on simulator using tighter stops. I experiented from 10 ticks to 6 ticks.

I won 52%. Usually it's much higher but with tighter stop I got stopped out. plus today was a bit "weird", maybe due to elections.

When ES opened I did 100% ES and I'm up 5.25 pts after 90 minutes trading 1-2 contracts. So for now I'm focusing on ES.

 
  #849 (permalink)
Elite Member
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Bonjour, mon ami!

Comment ca va aujourd'hui? Was it the gap trade that made you 5.25 points in the ES?

What do you think about the gap trade?

Regards,
TT

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  #850 (permalink)
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cunparis View Post
More brainstorming today. Anyone & everyone are welcome to participate. Ask questions. Let me know what you think. Call me an idiot I don't mind.

Tuesday Nov 2:
Bund +40 euros
Dax -1 tick (-12.50 euros)

The dax was the most calm I've ever seen it. Bund was too until it shot up 15 ticks only to retrace it all. So I was very cautious going into the US session. I decided to trade Crude & Euro on simulator using tighter stops. I experiented from 10 ticks to 6 ticks.

I won 52%. Usually it's much higher but with tighter stop I got stopped out. plus today was a bit "weird", maybe due to elections.

When ES opened I did 100% ES and I'm up 5.25 pts after 90 minutes trading 1-2 contracts. So for now I'm focusing on ES.

Cunparis,

I see this a lot in all the forums and traders that I have met. They are really really good and learn to dance with a specific investment, then they try to 'deworsify' into something else that requires a little different skill set.

It seems to me that ES is your guiding light and why do anything else? (these are questions not advice)

I know that people get bored with trading and want some excitement and technical people tend to always want to be learning....

ForexFactory.com is a great example to me of people who are there to build friendships, build EGO, more than make money.

Is trading about Money or about learning, challenges or something else..?

For me it is about money, but I have a challenge resisting all those people losing money on other instruments....

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