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AJ's Journal
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AJ's Journal

  #31 (permalink)
Elite Member
In the heat
 
Futures Experience: None
Platform: NT
Favorite Futures: Energy
 
PandaWarrior's Avatar
 
Posts: 3,155 since Mar 2010
Thanks: 6,306 given, 13,250 received


tderrick View Post
Things are going well as I revamp my system...

Good Success with CL

YM is still baffling me. Break even


I'm giving range bars a swing. I really like them.

Using an EMA with some Fib lines, along with SR as my main guide.

Trying to really get in tune with PA on these two markets...

Anyone know of a solid EMA that will give me the best cues possible???

I went ahead and moved up to NT7 since I'm revamping my system anyway. Solid so far..

Will start posting some charts for entry / exit advice when I settle completely on my rig..


thanks to all for the help in my journey... I'm re-juiced. I'm filling up my trading account
quickly and should be back in the game in a couple of months with a decent sized account.

The idea here is to pick one that is slow enough to reduce the noise. I say an EMA no less than 20 or perhaps a WMA set to 15 or 20. I like longer ones too but they reduce the number of signals.....which can be a good thing depending on what you are trying to accomplish. The CMA here on the forum has no settings so it can be good to start with. I personally use a WMA at 15 on my range chart and a TEMA set to 150 on my tick charts. These provide a nice confluence when used to filter each other....I only take trades when they agree.

Simplicity is the ultimate sophistication, Leonardo da Vinci


Most people chose unhappiness over uncertainty, Tim Ferris
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  #32 (permalink)
Elite Member
Nashville, Tennessee
 
Futures Experience: Intermediate
Platform: Ninja / Jigsaw / 9G
Broker/Data: AMP / CQG
Favorite Futures: NQ, YM and ES
 
tderrick's Avatar
 
Posts: 1,589 since Sep 2010
Thanks: 4,260 given, 2,527 received

First Day

This is my first day back with my re-vamped system.

Starting slow in Sim, just as I will do when I get my account properly funded and return to
live trading.

First week goal - $100 / day

Day one - Profit target hit with two trades. Got chicken on the first, but hung on to the second.

Thanks to all who have helped me with my new system!!


AJ
Nashville, Tennessee


"Life On The Edge of SR"
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  #33 (permalink)
Elite Member
Nashville, Tennessee
 
Futures Experience: Intermediate
Platform: Ninja / Jigsaw / 9G
Broker/Data: AMP / CQG
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Day One Continued


... took a few more trades in Sim after my goal was met for practice.

up $255 for the am...

I like the CL with range bars. I can read it well.


AJ
Nashville, Tennessee


"Life On The Edge of SR"
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  #34 (permalink)
Elite Member
Italy (IT)
 
Futures Experience: Advanced
Platform: ATAS, R|Trader, NT8
Broker/Data: Rithmic
Favorite Futures: CL, Brent, GC, TF
 
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Be careful with CL, it can overwhelm you in the blink of an eye, if you give it too much confidence.

Take your Pips, go out and Live.
Luke.
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  #35 (permalink)
Site Administrator
Manta, Ecuador
 
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Platform: My own custom solution
Favorite Futures: E-mini ES S&P 500
 
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LukeGeniol View Post
Be careful with CL, it can overwhelm you in the blink of an eye, if you give it too much confidence.

Indeed. CL is not for inexperienced traders. You also need at least a $20,000 account to have a chance, just trading 2 contracts with a 2% risk and 20 tick stop per.

Mike

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  #36 (permalink)
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Nashville, Tennessee
 
Futures Experience: Intermediate
Platform: Ninja / Jigsaw / 9G
Broker/Data: AMP / CQG
Favorite Futures: NQ, YM and ES
 
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Big Mike View Post
Indeed. CL is not for inexperienced traders. You also need at least a $20,000 account to have a chance, just trading 2 contracts with a 2% risk and 20 tick stop per.

Mike


What instrument would you suggest then?


AJ
Nashville, Tennessee


"Life On The Edge of SR"
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  #37 (permalink)
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Big Mike View Post
Indeed. CL is not for inexperienced traders. You also need at least a $20,000 account to have a chance, just trading 2 contracts with a 2% risk and 20 tick stop per.

Mike

CL has less chop, moves smoother and quicker than almost any other instrument I've seen. If a person trades it well for say 60 days on sim, is able to make money or at least not lose any, why not trade it. ES is a bear to trade. The only reason to be there is massive size. YM, $5 a tick?

I agree with the account size thing for the most part, but still, CL is a great instrument. I don't think people should be so scared of it. Break out traders need a 20+ tick stop, but other systems don't. Gary trades it with a 12 tick stop. Thats reasonable for more people and there are many of us who are not break out traders. It makes sense to me that you would want to trade an instrument that moves like CL IF and its a big IF, you have a good system with a defined edge and that system has stops you can live with.

The fact that CL moves so fast sometimes is a good thing. Both for stops and profit targets. Why wait for 30 minutes in ES to find out you got stopped out or your profit target is hit when CL can do it in seconds or minutes? As long as you are reading price action well.....and this is true for all instruments, CL is superior in many ways.

Anyway, regardless of the reasons, if you are new to CL, trade it in sim no less than 30 days and preferably 60. If you can do it well during that time, you have at least $5-10K to trade 1 contract, (depending on your normal stop size) then I say go for it. Carefully!

Simplicity is the ultimate sophistication, Leonardo da Vinci


Most people chose unhappiness over uncertainty, Tim Ferris
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  #38 (permalink)
Elite Member
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Futures Experience: Intermediate
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Posts: 1,589 since Sep 2010
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Second Day

Up early to see what the the London session is doing to oil. Not bad movement.

One trade, One win... Profit target met.

I had time to do my sit-ups while this one worked....

I have big faith in this MA based system... Fib lines are fascinating.

Will try a few more for practice during pit session. But if I were live, (come on savings!!!) I would be out for the day,
in accordance with my first week plan.

I plan on using my Christmas bonus to finish off the funding of my account.
That means I will be live to begin the new year...

Until then..... Sim it is.


AJ
Nashville, Tennessee


"Life On The Edge of SR"
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  #39 (permalink)
Elite Member
Nashville, Tennessee
 
Futures Experience: Intermediate
Platform: Ninja / Jigsaw / 9G
Broker/Data: AMP / CQG
Favorite Futures: NQ, YM and ES
 
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Posts: 1,589 since Sep 2010
Thanks: 4,260 given, 2,527 received

Oil sell

Pretty good sell-off this morning...

Thought I would jump on...


This is my second trade today... good set-up, I think...


AJ
Nashville, Tennessee


"Life On The Edge of SR"
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  #40 (permalink)
Elite Member
Nashville, Tennessee
 
Futures Experience: Intermediate
Platform: Ninja / Jigsaw / 9G
Broker/Data: AMP / CQG
Favorite Futures: NQ, YM and ES
 
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Posts: 1,589 since Sep 2010
Thanks: 4,260 given, 2,527 received

MIssed the Bounce


OK.... good lesson...

Don't enter your data in your log or post to your Journal until AFTER you trade...

...missed a beautiful bounce at prior support at 82.40 ... I knew that was coming..


rats


AJ
Nashville, Tennessee


"Life On The Edge of SR"
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