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Crude Oil CL


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Crude Oil CL

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  #1 (permalink)
wamo
Vancouver, Canada
 
 
Posts: 34 since Feb 2013
Thanks: 2 given, 1 received

Been in futures since 2012 bounced around trading the ES and currencies, made some lost some with real money back to sim looking for real consistency. Now looking hard at CL part-time and the morning and parts during the day. I want to end goal to become a full time trader. I do have a career but it doesn't interest me as much as trading.

Techniques & tools: Renko charts, volume profiles, MACD, Stochastics. Oscillators are from the renko charts, I think it still works but we will find out.

So far before starting this trading journal there's some inconsistencies, I want to stick to a plan and trade off of it and also record everything I am doing to see what I am doing wrong.

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  #3 (permalink)
wamo
Vancouver, Canada
 
 
Posts: 34 since Feb 2013
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Didn't get in the morning session today

Short sentiment throughout the day but the market held
Took a long late in the day off of a volume bounce, a little bit late in the entry. Could have went long at 1145 and closed out after the LH.

Result: -3 ticks

Looks a bit ugly but that pretty much sums it up right there:


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  #4 (permalink)
wamo
Vancouver, Canada
 
 
Posts: 34 since Feb 2013
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Another thing I am doing is I am not getting back at trading real money unless I find consistency
If I lose more than 20 ticks a day, add 2 more days on the sim, if I lose more than 30 add 3 more days on the sim etc.

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  #5 (permalink)
wamo
Vancouver, Canada
 
 
Posts: 34 since Feb 2013
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Well can't wait to blog this one

Entry was a bit early didn't like it, and blew it on the early exit. This was disappointing as I was waiting for a week for a run like this, had to go to work so sold off.
Entry would have like to enter off of the last lower high. And a mistake that went in my way was I held through Crude inventories which came in my favor.

bagged +22 ticks


looking for a reversal now

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  #6 (permalink)
wamo
Vancouver, Canada
 
 
Posts: 34 since Feb 2013
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theoretical 160 ticks

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  #7 (permalink)
jsphelia
Riga Latvia
 
 
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wamo View Post
theoretical 160 ticks

how do you think, crude will go down or up, as we have nice uptrend goin in day frame

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  #8 (permalink)
wamo
Vancouver, Canada
 
 
Posts: 34 since Feb 2013
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jsphelia View Post
how do you think, crude will go down or up, as we have nice uptrend goin in day frame

The early uptrend didn't look right to me, wasn't based on a huge volume increase that's how I saw it

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  #9 (permalink)
wamo
Vancouver, Canada
 
 
Posts: 34 since Feb 2013
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And chasing that reversal cost me 20 ticks, dumb move in such a aggressively short market.
It was based on a move couple weeks ago a down day and a huge reversal. Didn't get it here, will look for more confirmation next time. (What happened before doesn't mean it's bound to happen again)

+2 ticks overall

Looks like I might be pretty much done for the day unless I see a miracle
Thought process was there maybe 7/10
execution I would give myself 2/10



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  #10 (permalink)
wamo
Vancouver, Canada
 
 
Posts: 34 since Feb 2013
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Another loser to report, down 45 ticks

A bit uncharacteristic, stretching to the trailing stop loss. Will go back to my 10 tick stops
Entries still a bit poor, making me take more risk then needed. Still a lot of work to do.

Mistake 1. textbook down day, probably won't be too bad if I kept these runners
Mistake 2. Reversals come low in probability, and have to wait for volume

done for the day
-43 ticks
Theoretical
~+200 ticks


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  #11 (permalink)
wamo
Vancouver, Canada
 
 
Posts: 34 since Feb 2013
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And I am not crazy, here was the reversal I was looking for
theoretical ~70 ticks
difference is a HL and volume
Execution a 0/10 today


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  #12 (permalink)
 SMCJB 
Legendary Market Wizard
Houston, TX
 
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wamo View Post
theoretical 160 ticks


wamo View Post
done for the day
-43 ticks
Theoretical
~+200 ticks


wamo View Post
And I am not crazy, here was the reversal I was looking for
theoretical ~70 ticks

You keep saying theoretical +/-x ticks, what do you mean?

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  #13 (permalink)
wamo
Vancouver, Canada
 
 
Posts: 34 since Feb 2013
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SMCJB View Post
You keep saying theoretical +/-x ticks, what do you mean?

What I mean by that is, if I had stuck to the plan (short only at LH, long at HL with volume etc), the perfect trade that I am aiming for would result in X amount of ticks. I want to remind myself that the opportunity is there, but the execution was wrong. And if execution was spot on or even close, I would receive something close to the theoretical yield.

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  #14 (permalink)
wamo
Vancouver, Canada
 
 
Posts: 34 since Feb 2013
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Took a day off yesterday back, lost 3 trades first thing in the morning chasing the short.
At 1100 got a good short for 25 ticks, and then +1 tick, 0 tick. Then market reversed and went back up.

Brought back in market depth for the last 3 trades, paints a little more of a picture of the order flow will continue to do that


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  #15 (permalink)
wamo
Vancouver, Canada
 
 
Posts: 34 since Feb 2013
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-21 ticks

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  #16 (permalink)
 emini_Holy_Grail 
Dallas,TX
 
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Trading: ES,6E,6B,GC,CL
 
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wamo View Post
Another loser to report, down 45 ticks

A bit uncharacteristic, stretching to the trailing stop loss. Will go back to my 10 tick stops
Entries still a bit poor, making me take more risk then needed. Still a lot of work to do.

Mistake 1. textbook down day, probably won't be too bad if I kept these runners
Mistake 2. Reversals come low in probability, and have to wait for volume

done for the day
-43 ticks
Theoretical
~+200 ticks


interesting. I like to follow your journal and see how it goes, but I wont get disappointed at daily or weekly as long as we get a avg monthly +PnL

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  #17 (permalink)
 Gambler 
Gomel, Belarus
 
Experience: Intermediate
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Trading: Crude Oil
 
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Farsnews

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  #18 (permalink)
 emini_Holy_Grail 
Dallas,TX
 
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wamo View Post
Took a day off yesterday back, lost 3 trades first thing in the morning chasing the short.
At 1100 got a good short for 25 ticks, and then +1 tick, 0 tick. Then market reversed and went back up.

Brought back in market depth for the last 3 trades, paints a little more of a picture of the order flow will continue to do that


no worries. you will make it up in trades next week

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  #19 (permalink)
wamo
Vancouver, Canada
 
 
Posts: 34 since Feb 2013
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Short updates last couple days
+1 ticks

+7ticks

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  #20 (permalink)
wamo
Vancouver, Canada
 
 
Posts: 34 since Feb 2013
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Ok, taking a little bit of different approach last few sessions on sim

-21, -66, -24, -29

Although it doesn't show on the scoreboard, starting to show some improvements in entry and exits. In picking high probably outcomes.

Going to trade primarily off of the dom for a bit. Need to get the ball rolling.

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  #21 (permalink)
wamo
Vancouver, Canada
 
 
Posts: 34 since Feb 2013
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+63 ticks

Good execution today, limiting risks and potential downsides, and waiting for confirmations

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  #22 (permalink)
wamo
Vancouver, Canada
 
 
Posts: 34 since Feb 2013
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-9 ticks today
2 bad trades (-10, -14 ticks) as I gave it more room to reverse than I should and it put me in an early hole


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  #23 (permalink)
wamo
Vancouver, Canada
 
 
Posts: 34 since Feb 2013
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madness today, I forget that it's Independence day weekend, going to set it in my calendar from now on and take the day off

light volume today chop chop chop out at the bottom of the run.
-76 ticks

What I can take from today
When volume is light, it's most likely to hang out at the volume area as much as the 76 ticks was lost it could have been won. But not my ideal kind of trade anyway.

Need to work that in to my game a bit, the first break out trade and then the confirmation. Low risk high reward instead of trying to chase and make large stops

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  #24 (permalink)
wamo
Vancouver, Canada
 
 
Posts: 34 since Feb 2013
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+3 yesterday
+99 today

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  #25 (permalink)
wamo
Vancouver, Canada
 
 
Posts: 34 since Feb 2013
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-18 ticks today
busy the whole day with other stuff, got in 3 trades all losers


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  #26 (permalink)
wamo
Vancouver, Canada
 
 
Posts: 34 since Feb 2013
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on a note, there was a problem with my zig zag indicator today it would turn color even though there wasn't a reversal but resetting it fixed it.

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  #27 (permalink)
wamo
Vancouver, Canada
 
 
Posts: 34 since Feb 2013
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-27
Can't seem to help myself from being click happy
chopped out late stages in the day, otherwise not much opportunity at all. have to stick to the high probability trades


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  #28 (permalink)
wamo
Vancouver, Canada
 
 
Posts: 34 since Feb 2013
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Terrible morning to start down -22 ticks
Recovered later in the afternoon net +23 ticks on the day

Early morning down contributed by not reading the order flow properly

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  #29 (permalink)
wamo
Vancouver, Canada
 
 
Posts: 34 since Feb 2013
Thanks: 2 given, 1 received

What will get me over the hump:

1. I think entries are ok now, stops are ok as well
2. Area of challenge are chop zones when the market goes sideways, to counter that I have just got to wait for a breakout
3. It's a matter of vision and if I can read the order flows properly

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  #30 (permalink)
wamo
Vancouver, Canada
 
 
Posts: 34 since Feb 2013
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Chopped up again up at the highs
-24ticks


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  #31 (permalink)
wamo
Vancouver, Canada
 
 
Posts: 34 since Feb 2013
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not too happy with today's play.
Started off looking like a breakout to the upside and got in and out for a +10 tick, then gave it all back in 4 later trades.

1st trade was good, 2nd trade could have hung on longer, don't even remember what I was doing busy doing something else and trading. Have to watch the order flow more closely.

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  #32 (permalink)
wamo
Vancouver, Canada
 
 
Posts: 34 since Feb 2013
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pretty disappointed in today same old anticpating it to break and it didn't break a the top
quickly I was down 24 ticks, and then just got fed up and winged rest.

Maybe lets make a change and go in with one contract instead of two and scale in if it breaks

-66 ticks

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  #33 (permalink)
wamo
Vancouver, Canada
 
 
Posts: 34 since Feb 2013
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bad day today (getting tired of saying this), morning came in in a bad mood and didn't fair much +1 after 7 trades.
Then went on a slide trading high volume area. -72 ticks

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  #34 (permalink)
wamo
Vancouver, Canada
 
 
Posts: 34 since Feb 2013
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0 ticks today no trades

Going to try to wake up for 6am to 730am next week for better opportunities

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