Big Mike's CL (crude oil) journal - futures io
futures io



Big Mike's CL (crude oil) journal


Discussion in Trading Journals

Updated
      Top Posters
    1. looks_one Big Mike with 25 posts (40 thanks)
    2. looks_two shodson with 4 posts (6 thanks)
    3. looks_3 cunparis with 4 posts (1 thanks)
    4. looks_4 KJAVED with 3 posts (1 thanks)
      Best Posters
    1. looks_one AR01 with 2 thanks per post
    2. looks_two Big Mike with 1.6 thanks per post
    3. looks_3 shodson with 1.5 thanks per post
    4. looks_4 cunparis with 0.3 thanks per post
    1. trending_up 27,010 views
    2. thumb_up 53 thanks given
    3. group 27 followers
    1. forum 60 posts
    2. attach_file 9 attachments




Welcome to futures io: the largest futures trading community on the planet, with well over 125,000 members
  • Genuine reviews from real traders, not fake reviews from stealth vendors
  • Quality education from leading professional traders
  • We are a friendly, helpful, and positive community
  • We do not tolerate rude behavior, trolling, or vendors advertising in posts
  • We are here to help, just let us know what you need
You'll need to register in order to view the content of the threads and start contributing to our community.  It's free and simple.

-- Big Mike, Site Administrator

(If you already have an account, login at the top of the page)

Closed Thread
 
Search this Thread
 

Big Mike's CL (crude oil) journal

(login for full post details)
  #1 (permalink)
 Big Mike 
Site Administrator
Swing Trader
Data Scientist & DevOps
Manta, Ecuador
 
Experience: Advanced
Platform: Custom solution
Trading: Futures & Crypto
 
Big Mike's Avatar
 
Posts: 50,075 since Jun 2009
Thanks: 32,539 given, 98,508 received

Here is a video blog about trading CL. I also share my usual opinions on multiple time frames and indicators/simplicity, money management, etc.

Play the VLC media player if you have any issues after unzipping, just like all my videos in the Downloads section.

I'll try to keep this journal updated with CL thoughts and trades.

Small chart: 89 volume
Medium chart: 6 range
Large chart: 12 range

I've attached a screen shot but the main point of this post is in the video not the screen shot.

Mike


We're here to help -- just ask

For the best trading education, watch our webinars
Searching for trading reviews? Review this list

Follow us on Twitter, YouTube, and Facebook

Support our community as an Elite Member:
https://futures.io/elite/

Visit other sites? Please spread the word about your experience with our community!
Attached Thumbnails
Click image for larger version

Name:	2009-08-28_2153.png
Views:	1723
Size:	145.7 KB
ID:	1470  
Follow me on Twitter Visit my futures io Trade Journal Started this thread
The following 16 users say Thank You to Big Mike for this post:

Can you help answer these questions
from other members on futures io?
Multichart NET: where can i find esplanation on CustomIn …
MultiCharts
Anybody uses Bookmap with Tradestation?
TradeStation
AutoTrendHforRad indicator in a strategy "direction …
NinjaTrader
EasyLanguage: fetch option price using Stock ticker
EasyLanguage Programming
Denali Data?
Sierra Chart
 
Best Threads (Most Thanked)
in the last 7 days on futures io
The Crude Dude Oil Trading System
77 thanks
Spoo-nalysis ES e-mini futures S&P 500
68 thanks
I finally blew up an account
61 thanks
FIO Journal Challenge - April 2021 w/Jigsaw Trading
38 thanks
The tiyfTradePlanFactory indicator
25 thanks
 
(login for full post details)
  #2 (permalink)
 HJay 
USA
 
Experience: Intermediate
Platform: NinjaTrader
Broker: Mirus/Zen-Fire
Trading: futures
 
HJay's Avatar
 
Posts: 197 since Aug 2009

I'm downloading it now... It's a beast.. Thanks for posting Mike...

UPDATE: Just viewed it,.. Nice Setup Mike!!... Appreciate all the words of wizdom as well.

Visit my futures io Trade Journal
 
(login for full post details)
  #3 (permalink)
 Big Mike 
Site Administrator
Swing Trader
Data Scientist & DevOps
Manta, Ecuador
 
Experience: Advanced
Platform: Custom solution
Trading: Futures & Crypto
 
Big Mike's Avatar
 
Posts: 50,075 since Jun 2009
Thanks: 32,539 given, 98,508 received



HJay View Post
I'm downloading it now... It's a beast.. Thanks for posting Mike...

Hi HJay,

I hope you enjoy it and it helps make you some money.

Mike

We're here to help -- just ask

For the best trading education, watch our webinars
Searching for trading reviews? Review this list

Follow us on Twitter, YouTube, and Facebook

Support our community as an Elite Member:
https://futures.io/elite/

Visit other sites? Please spread the word about your experience with our community!
Follow me on Twitter Visit my futures io Trade Journal Started this thread
 
(login for full post details)
  #4 (permalink)
 Big Mike 
Site Administrator
Swing Trader
Data Scientist & DevOps
Manta, Ecuador
 
Experience: Advanced
Platform: Custom solution
Trading: Futures & Crypto
 
Big Mike's Avatar
 
Posts: 50,075 since Jun 2009
Thanks: 32,539 given, 98,508 received

The low-res instant-play Viddler version is now on my blog:
Big Mike's Trading Blog: Trading CL (crude oil futures) plus my usual opinions

Mike

We're here to help -- just ask

For the best trading education, watch our webinars
Searching for trading reviews? Review this list

Follow us on Twitter, YouTube, and Facebook

Support our community as an Elite Member:
https://futures.io/elite/

Visit other sites? Please spread the word about your experience with our community!
Follow me on Twitter Visit my futures io Trade Journal Started this thread
 
(login for full post details)
  #5 (permalink)
 Big Mike 
Site Administrator
Swing Trader
Data Scientist & DevOps
Manta, Ecuador
 
Experience: Advanced
Platform: Custom solution
Trading: Futures & Crypto
 
Big Mike's Avatar
 
Posts: 50,075 since Jun 2009
Thanks: 32,539 given, 98,508 received

In the video, I talk about my new multiple time frame (MTF) replacement for EOT's Allas Average. I also show off a new MAE/MFE indicator I wrote, and a Bollinger Divergence indicator and trade setup.

I think you'll see my setup here is extremely simple and straight forward. Simplicity is almost always better. Less is more when it comes to trading.

A few things:
a) The MTF indicator is not available for free download. I spent a great deal of time on this, mainly because NinjaTrader 6.5 has a HUGE bug when it comes to multiple time frames.... and I had to work around it. You can get the "free" alternative by just loading multiple charts and visualizing it.

b) The TrendBars paintbars are in the VIP section.

c) The Bollinger Bands are from BWT. I wrote the divergence stuff to supplement my Blue Wave Trading indicators I purchased a long time ago. If you own BWT and want some help implementing their indicators into strategies, I can do it for you. If you want a free version I'm sure there are several alternatives.

To better understand what you are seeing on the divergence: Blue diamond followed by blue dot in panel 2, while panel 1 is in a up trend, that means long. Magenta square followed by blue dot when in up trend means long. Blue diamond followed by red dot while in down trend means short. Magenta square followed by red dot in down trend means short.

The MTF line in panel 1 is not a "moving average" like you would normally consider one. It's just based on five different time periods (tick, range, minute, volume, and current chart) of varying sizes/lengths. It is remarkably accurate, because after all price doesn't lie and the MTF line is just showing you what price is doing in multiple time frames.

Your job is to have patience and discipline along with a trading plan that has good money management.

Mike

We're here to help -- just ask

For the best trading education, watch our webinars
Searching for trading reviews? Review this list

Follow us on Twitter, YouTube, and Facebook

Support our community as an Elite Member:
https://futures.io/elite/

Visit other sites? Please spread the word about your experience with our community!
Follow me on Twitter Visit my futures io Trade Journal Started this thread
The following 7 users say Thank You to Big Mike for this post:
 
(login for full post details)
  #6 (permalink)
 RodS 
Indy
 
Experience: Beginner
Platform: NinjaTrader
Broker: Mirus/Zen-Fire
Trading: 6E,TF,YM,NQ
 
RodS's Avatar
 
Posts: 88 since Jun 2009
Thanks: 435 given, 66 received

Thanks Mike!

As always you provide all with some very valuable information! I applaud your continued help and efforts in making this a "one of a kind" trading community!!


Thanks
Rod

The following user says Thank You to RodS for this post:
 
(login for full post details)
  #7 (permalink)
 jdella 
Concord, NH USA
 
Experience: Intermediate
Platform: Ninja trader
Broker: AMP/CQG
Trading: ES
 
jdella's Avatar
 
Posts: 182 since Jun 2009
Thanks: 139 given, 113 received

Thanks mike, I really enjoyed that video. The part I liked the most was the money management part, although I did like your simple setup. The money management is the part that I struggle with the most. I always have a fixed profit target and yet my stops always seem to be 2 to 3 times greater than my profit target. I have a win ratio most times in the 70-80 % area, but where I get killed is when I do get stopped out, my losers wipe out the gains that I have. I was impressed with the fact that you said that you have a 4 times greater profit target than your stop. You don't have to have a high win ratio to still make money, but how do you do that? Like for example you trade the CL, that thing is furious. You could be right about your trade and still get stopped out with a 10-15 tic loser in a wiggle, and then have it go your way. How do you achieve the high reward to risk ratio and yet still give a market the room it needs to breathe? I am interested in hearing your response as well as any others.

BTW, the main market that I focus on is the EC and I try and shoot for a 5 tic profit, but it's hard to try and have a stop any less than 10 tics, which bugs me, but you will almost always get clipped with even a 5 tic stop.

Thanks in advance for any words of wisdom on this subject.

Jeff

 
(login for full post details)
  #8 (permalink)
 Riverend 
Westlake, Oh
 
Experience: Beginner
Platform: NinjaTrader
Trading: CL
 
Riverend's Avatar
 
Posts: 362 since Jun 2009
Thanks: 1,511 given, 219 received

Thanks mike,
I can see where your new MAE/ MFE indicator would be a nice addition to my trading.
Thanks again for your help in trying to make everyone a better trader.

Vic

 
(login for full post details)
  #9 (permalink)
 Big Mike 
Site Administrator
Swing Trader
Data Scientist & DevOps
Manta, Ecuador
 
Experience: Advanced
Platform: Custom solution
Trading: Futures & Crypto
 
Big Mike's Avatar
 
Posts: 50,075 since Jun 2009
Thanks: 32,539 given, 98,508 received


jdella View Post
Thanks mike, I really enjoyed that video. The part I liked the most was the money management part, although I did like your simple setup. The money management is the part that I struggle with the most. I always have a fixed profit target and yet my stops always seem to be 2 to 3 times greater than my profit target. I have a win ratio most times in the 70-80 % area, but where I get killed is when I do get stopped out, my losers wipe out the gains that I have. I was impressed with the fact that you said that you have a 4 times greater profit target than your stop. You don't have to have a high win ratio to still make money, but how do you do that? Like for example you trade the CL, that thing is furious. You could be right about your trade and still get stopped out with a 10-15 tic loser in a wiggle, and then have it go your way. How do you achieve the high reward to risk ratio and yet still give a market the room it needs to breathe? I am interested in hearing your response as well as any others.

BTW, the main market that I focus on is the EC and I try and shoot for a 5 tic profit, but it's hard to try and have a stop any less than 10 tics, which bugs me, but you will almost always get clipped with even a 5 tic stop.

Thanks in advance for any words of wisdom on this subject.

Jeff

Hi Jeff,

There is no doubt that you can be "right" and still get stopped, meaning that it comes back enough to take you out of the trade, then continues on and moves in the direction you originally anticipated.

However, I've found that more times than not when this happens to me it is because of a mistake I made. For example, I was too concerned about missing a trade and I entered when I really shouldn't have. Quicker, faster, more is almost always NOT better when it comes to trading. Patience is better. Your mind thinks you have to jump immediately at close of bar into a new position or you'll miss it, but in reality, it's those trades that meander for 4-5 bars and might shake you out when in the end the bar before it blasts off produces the correct entry signal you should have been waiting for.

Having targets greater than stops is an absolute requirement. But you also need to make sure you are actually ending the day with a win/loss dollar ratio greater than 1. In ninjatrader this is called something like "Ratio avg. winner to avg. loser". I am not talking about win percentage, but how much money your winners made vs your losers. Having a target twice as big as your stop, but manually exiting every trade before your target is hit, well that isn't going to help. We often have explosive moves because many traders were caught on the wrong side of the trade, and then it "pops" and it can easily run for a bit. I promise you it is entirely possible to have a 2:1 win/loss dollar ratio while still having near 50% win rate. It's not easy and takes a lot of experience.

You must give it enough room to breathe -- I think on CL that means between and 8 and 12 tick stop if your target is 16 ticks to 20 ticks. You can't have a 6 tick target and 3 tick stop and expect to win, because the market is not the precise, you will get stopped too often. It's also important to not cap your winners. Once you can trade more than one contract, keep a runner contract on until a clear signal develops telling you to exit the trade. Sure maybe half the trades you'll get stopped breakeven on the runner but the ones that do run can make your daily goal in one single trade, and you can then stop trading.

Last, the MTF tool I am using is quite important. It is crucial to know what side of the market you should be looking at. You've got to know before you take each trade if the market is in an upward or downward push, so you can cherry pick only the best trade setups before they happen.

Mike

We're here to help -- just ask

For the best trading education, watch our webinars
Searching for trading reviews? Review this list

Follow us on Twitter, YouTube, and Facebook

Support our community as an Elite Member:
https://futures.io/elite/

Visit other sites? Please spread the word about your experience with our community!
Follow me on Twitter Visit my futures io Trade Journal Started this thread
The following 10 users say Thank You to Big Mike for this post:
 
(login for full post details)
  #10 (permalink)
 Big Mike 
Site Administrator
Swing Trader
Data Scientist & DevOps
Manta, Ecuador
 
Experience: Advanced
Platform: Custom solution
Trading: Futures & Crypto
 
Big Mike's Avatar
 
Posts: 50,075 since Jun 2009
Thanks: 32,539 given, 98,508 received



Riverend View Post
Thanks mike,
I can see where your new MAE/ MFE indicator would be a nice addition to my trading.
Thanks again for your help in trying to make everyone a better trader.

Vic

Hi Vic,

I have really found them incredible useful. I've built them around several triggers and have one for each, so it can really help visualize the stepping of the market and also help you quickly determine some better stops and targets.

Due to the complexity of the indicator however I have chosen to not give it away for free at this time. If you want one, we'll need to custom build it around your own trigger, you can talk to me in the Custom Programming forum if you want.

Mike

We're here to help -- just ask

For the best trading education, watch our webinars
Searching for trading reviews? Review this list

Follow us on Twitter, YouTube, and Facebook

Support our community as an Elite Member:
https://futures.io/elite/

Visit other sites? Please spread the word about your experience with our community!
Follow me on Twitter Visit my futures io Trade Journal Started this thread
 
(login for full post details)
  #11 (permalink)
 jdella 
Concord, NH USA
 
Experience: Intermediate
Platform: Ninja trader
Broker: AMP/CQG
Trading: ES
 
jdella's Avatar
 
Posts: 182 since Jun 2009
Thanks: 139 given, 113 received

Mike, I appreciate your insight, and I will take more of a hard look at what you said about getting in right at bar close when the trade triggers. I have noticed that more often than not it will go against me right at entry before it goes in my favor. Obviously a timing issue that really needs a hard look.

Are those trend bars somewhere on this forum or are those proprietary as well?

Jeff

 
(login for full post details)
  #12 (permalink)
 tzachi 
New York
 
 
Posts: 38 since Jun 2009


Big Mike View Post
Hi Vic,

I have really found them incredible useful. I've built them around several triggers and have one for each, so it can really help visualize the stepping of the market and also help you quickly determine some better stops and targets.

Due to the complexity of the indicator however I have chosen to not give it away for free at this time. If you want one, we'll need to custom build it around your own trigger, you can talk to me in the Custom Programming forum if you want.

Mike


Mike,

I see that it did not take you long time to see the VERY large interest in CL trading and to see the potential of selling indicators to new traders. GOOD LUCK.

 
(login for full post details)
  #13 (permalink)
 Big Mike 
Site Administrator
Swing Trader
Data Scientist & DevOps
Manta, Ecuador
 
Experience: Advanced
Platform: Custom solution
Trading: Futures & Crypto
 
Big Mike's Avatar
 
Posts: 50,075 since Jun 2009
Thanks: 32,539 given, 98,508 received


tzachi View Post
Mike,

I see that it did not take you long time to see the VERY large interest in CL trading and to see the potential of selling indicators to new traders. GOOD LUCK.

Hi Tzachi,

CL is tempting to many traders, especially when they read posts in chat where some users seem to win every trade but never take any stops.

However, in reality CL is extremely dangerous, much more so than most instruments. My goal is to help traders and if you watched the video, you will see the very first thing I did was attempt to dissuade inexperienced traders from trading the CL due to its extreme volatility.

That being said, yes CL presents a lot of opportunities each day so for experienced traders it can really be a fantastic instrument. As for selling indicators, yes I do believe that I am entitled to not be required to give away my work when I chose not to. If, after reviewing all my blogs, forum posts, videos, free indicators, and all the other resources I've given away for free, a user wants to buy an indicator of mine to save himself the time and trouble that I went through to create it, then I think it is a mutually beneficial prospect.

Mike

We're here to help -- just ask

For the best trading education, watch our webinars
Searching for trading reviews? Review this list

Follow us on Twitter, YouTube, and Facebook

Support our community as an Elite Member:
https://futures.io/elite/

Visit other sites? Please spread the word about your experience with our community!
Follow me on Twitter Visit my futures io Trade Journal Started this thread
 
(login for full post details)
  #14 (permalink)
 Big Mike 
Site Administrator
Swing Trader
Data Scientist & DevOps
Manta, Ecuador
 
Experience: Advanced
Platform: Custom solution
Trading: Futures & Crypto
 
Big Mike's Avatar
 
Posts: 50,075 since Jun 2009
Thanks: 32,539 given, 98,508 received

Just a reminder that is amazing

Mike

We're here to help -- just ask

For the best trading education, watch our webinars
Searching for trading reviews? Review this list

Follow us on Twitter, YouTube, and Facebook

Support our community as an Elite Member:
https://futures.io/elite/

Visit other sites? Please spread the word about your experience with our community!
Attached Thumbnails
Click image for larger version

Name:	2009-08-31_2223.png
Views:	411
Size:	134.1 KB
ID:	1542  
Follow me on Twitter Visit my futures io Trade Journal Started this thread
 
(login for full post details)
  #15 (permalink)
 Saroj 
Arcata, CA
 
Experience: Intermediate
Platform: NinjaTrader
Trading: index futures, oil
 
Saroj's Avatar
 
Posts: 486 since Jun 2009
Thanks: 232 given, 413 received

As are MTF Bollinger Bands...

Attached Thumbnails
Click image for larger version

Name:	BBs forming natural dynamic SR levels.png
Views:	421
Size:	165.0 KB
ID:	1543  
 
(login for full post details)
  #16 (permalink)
 shodson 
Quantoholic
OC, California, USA
 
Experience: Advanced
Platform: IB/TWS, NinjaTrader, ToS
Broker: IB, ToS, Kinetick
Trading: stocks, options, futures, VIX
 
shodson's Avatar
 
Posts: 1,962 since Jun 2009
Thanks: 529 given, 3,655 received


Big Mike View Post

Having targets greater than stops is an absolute requirement. But you also need to make sure you are actually ending the day with a win/loss dollar ratio greater than 1. In ninjatrader this is called something like "Ratio avg. winner to avg. loser".

Are you referring to your "profit factor"?

Follow me on Twitter Visit my futures io Trade Journal
 
(login for full post details)
  #17 (permalink)
 Big Mike 
Site Administrator
Swing Trader
Data Scientist & DevOps
Manta, Ecuador
 
Experience: Advanced
Platform: Custom solution
Trading: Futures & Crypto
 
Big Mike's Avatar
 
Posts: 50,075 since Jun 2009
Thanks: 32,539 given, 98,508 received


shodson View Post
Are you referring to your "profit factor"?

Nope, it is called Ratio Avg Win / Avg Loss.

See attachment.

Mike

We're here to help -- just ask

For the best trading education, watch our webinars
Searching for trading reviews? Review this list

Follow us on Twitter, YouTube, and Facebook

Support our community as an Elite Member:
https://futures.io/elite/

Visit other sites? Please spread the word about your experience with our community!
Attached Thumbnails
Click image for larger version

Name:	2009-09-01_2126.png
Views:	189
Size:	3.8 KB
ID:	1590  
Follow me on Twitter Visit my futures io Trade Journal Started this thread
 
(login for full post details)
  #18 (permalink)
 Dusty909 
Vancouver, BC
 
Experience: Intermediate
Platform: Ninjatrader
 
Posts: 19 since Aug 2009
Thanks: 7 given, 7 received


Big Mike View Post
Hi Jeff,


Last, the MTF tool I am using is quite important. It is crucial to know what side of the market you should be looking at. You've got to know before you take each trade if the market is in an upward or downward push, so you can cherry pick only the best trade setups before they happen.

Mike

Hi Mike,

You might have talked more specifically about this elsewhere but I haven't found it yet. When you look at the higher time frame are you just looking at which direction the trend is in? Or are you looking at whether the higher time frame is overbought/sold? Or just checking how close it is to resistance? Any tips you could give would be appreciated.

Thanks.

 
(login for full post details)
  #19 (permalink)
 Big Mike 
Site Administrator
Swing Trader
Data Scientist & DevOps
Manta, Ecuador
 
Experience: Advanced
Platform: Custom solution
Trading: Futures & Crypto
 
Big Mike's Avatar
 
Posts: 50,075 since Jun 2009
Thanks: 32,539 given, 98,508 received


Dusty909 View Post
Hi Mike,

You might have talked more specifically about this elsewhere but I haven't found it yet. When you look at the higher time frame are you just looking at which direction the trend is in? Or are you looking at whether the higher time frame is overbought/sold? Or just checking how close it is to resistance? Any tips you could give would be appreciated.

Thanks.

Check out all the videos on my blog, I go into a great deal of detail over hours of videos.

Short answer: Big chart is mainly for trend direction but with that clearly price plays an important factor in how close it is to the reversal area of the 'trend' line.

Mike

We're here to help -- just ask

For the best trading education, watch our webinars
Searching for trading reviews? Review this list

Follow us on Twitter, YouTube, and Facebook

Support our community as an Elite Member:
https://futures.io/elite/

Visit other sites? Please spread the word about your experience with our community!
Follow me on Twitter Visit my futures io Trade Journal Started this thread
The following user says Thank You to Big Mike for this post:
 
(login for full post details)
  #20 (permalink)
 shodson 
Quantoholic
OC, California, USA
 
Experience: Advanced
Platform: IB/TWS, NinjaTrader, ToS
Broker: IB, ToS, Kinetick
Trading: stocks, options, futures, VIX
 
shodson's Avatar
 
Posts: 1,962 since Jun 2009
Thanks: 529 given, 3,655 received


Big Mike View Post
Once you can trade more than one contract, keep a runner contract on until a clear signal develops telling you to exit the trade. Sure maybe half the trades you'll get stopped breakeven on the runner but the ones that do run can make your daily goal in one single trade, and you can then stop trading. Mike

One thing I'm looking at for my strategies is instead of a fixed static target, base it on volatility conditions, like ATR, or a StdDev of price distributions, et. al. Another thing is that instead of having a preset target, set a target that turns into a runner once reached. For example, set a target of 20, and once it reaches 20 turn your stop into a trailing stop, or exit position if it cross over a fast moving average, or when a momentum indicator tells you the trend is weakening, but only once the initial target is reached. Until then, your stops and targets stay put.

Follow me on Twitter Visit my futures io Trade Journal
 
(login for full post details)
  #21 (permalink)
 cunparis 
Paris, France
 
Experience: Advanced
Platform: Market Delta & Ninjatrader
Trading: ES
 
cunparis's Avatar
 
Posts: 2,565 since Jun 2009
Thanks: 1,162 given, 2,081 received

Hey Mike can you post some trades real time? It'd be helpful to compare our trades as they're happening.

Follow me on Twitter
 
(login for full post details)
  #22 (permalink)
 Big Mike 
Site Administrator
Swing Trader
Data Scientist & DevOps
Manta, Ecuador
 
Experience: Advanced
Platform: Custom solution
Trading: Futures & Crypto
 
Big Mike's Avatar
 
Posts: 50,075 since Jun 2009
Thanks: 32,539 given, 98,508 received


cunparis View Post
Hey Mike can you post some trades real time? It'd be helpful to compare our trades as they're happening.

I do make some calls in chat but haven't had much time lately, I'll try to at least do some new journals, videos and blogs soon. I've been meaning to get those updated.

Mike

We're here to help -- just ask

For the best trading education, watch our webinars
Searching for trading reviews? Review this list

Follow us on Twitter, YouTube, and Facebook

Support our community as an Elite Member:
https://futures.io/elite/

Visit other sites? Please spread the word about your experience with our community!
Follow me on Twitter Visit my futures io Trade Journal Started this thread
 
(login for full post details)
  #23 (permalink)
 Big Mike 
Site Administrator
Swing Trader
Data Scientist & DevOps
Manta, Ecuador
 
Experience: Advanced
Platform: Custom solution
Trading: Futures & Crypto
 
Big Mike's Avatar
 
Posts: 50,075 since Jun 2009
Thanks: 32,539 given, 98,508 received

Lately I've been posting in the general CL thread, here.

I've not updated the journal in a while due to lack of time, but it is not forgotten and I definitely trade better when using a journal.

Mike

We're here to help -- just ask

For the best trading education, watch our webinars
Searching for trading reviews? Review this list

Follow us on Twitter, YouTube, and Facebook

Support our community as an Elite Member:
https://futures.io/elite/

Visit other sites? Please spread the word about your experience with our community!
Follow me on Twitter Visit my futures io Trade Journal Started this thread
 
(login for full post details)
  #24 (permalink)
 Big Mike 
Site Administrator
Swing Trader
Data Scientist & DevOps
Manta, Ecuador
 
Experience: Advanced
Platform: Custom solution
Trading: Futures & Crypto
 
Big Mike's Avatar
 
Posts: 50,075 since Jun 2009
Thanks: 32,539 given, 98,508 received

Well here is an update.

I threw out all the indicators and traded nothing but a 5 minute chart this week. No range chart, no volume chart, no tick chart.

Ended the week with about 280 ticks with 2 cars, 46 trades, 67% win rate. Much to improve upon, but overall I am pleased with the trades.

Here is my chart for today.

The EMA(20) is the only moving average, the rest of the lines are support/resistance lines. The paintbar study is just based on Close of prior bar vs current bar. There is nothing magical here, it's all based on price action.



Why did I switch to a 5m chart? Because it's my belief that the big boys are using nothing less than a 5m chart. Most are in fact using 60m and daily charts, imo. It's also my belief that a range chart, while great at some things, has one hugely lacking problem -- there is nothing on a range chart that drives price action. Why? Because the markets are mostly automated by computer strategies, mostly ran by institutional traders, which mostly trade a 5m or larger chart.

Mike

We're here to help -- just ask

For the best trading education, watch our webinars
Searching for trading reviews? Review this list

Follow us on Twitter, YouTube, and Facebook

Support our community as an Elite Member:
https://futures.io/elite/

Visit other sites? Please spread the word about your experience with our community!
Follow me on Twitter Visit my futures io Trade Journal Started this thread
The following 2 users say Thank You to Big Mike for this post:
 
(login for full post details)
  #25 (permalink)
 Big Mike 
Site Administrator
Swing Trader
Data Scientist & DevOps
Manta, Ecuador
 
Experience: Advanced
Platform: Custom solution
Trading: Futures & Crypto
 
Big Mike's Avatar
 
Posts: 50,075 since Jun 2009
Thanks: 32,539 given, 98,508 received

BTW, for those following me for a long time, you'll know that for over a year I've used range charts almost exclusively. I'm not saying you can't make money using them. But I am saying it's so much easier to make money using a 5m chart instead, but you've got to do it all based on price action. If you try to do it based on indicators, you'll lose your ass in a big way.

Mike

We're here to help -- just ask

For the best trading education, watch our webinars
Searching for trading reviews? Review this list

Follow us on Twitter, YouTube, and Facebook

Support our community as an Elite Member:
https://futures.io/elite/

Visit other sites? Please spread the word about your experience with our community!
Follow me on Twitter Visit my futures io Trade Journal Started this thread
 
(login for full post details)
  #26 (permalink)
 cory 
the coin hunter
virginia
 
Experience: Intermediate
Platform: ninja
Trading: NQ
 
cory's Avatar
 
Posts: 6,044 since Jun 2009
Thanks: 857 given, 7,916 received

Finally, the truth! congrats!

 
(login for full post details)
  #27 (permalink)
 gio5959 
Chiron
 
Experience: None
Platform: ninjatrader
Broker: Amp Futures/Zen-Fire
Trading: ES
 
Posts: 740 since Aug 2009
Thanks: 25 given, 154 received

a 5min chart? - gee, i wonder who almost always posts only a 5min chart but, of the es

have a good one big mike

Visit my futures io Trade Journal
 
(login for full post details)
  #28 (permalink)
 suchen 
US
 
Experience: Intermediate
Platform: NT
Trading: 6e & ES
 
suchen's Avatar
 
Posts: 28 since Jun 2009
Thanks: 28 given, 3 received

i agree mike, when I do trade the cl, i actually trade off a 15 min chart...

 
(login for full post details)
  #29 (permalink)
 MXASJ 
Asia
 
Experience: Beginner
Platform: NinjaTrader, TOS
 
Posts: 798 since Jun 2009
Thanks: 109 given, 799 received


Big Mike View Post
BTW, for those following me for a long time, you'll know that for over a year I've used range charts almost exclusively. I'm not saying you can't make money using them. But I am saying it's so much easier to make money using a 5m chart instead, but you've got to do it all based on price action. If you try to do it based on indicators, you'll lose your ass in a big way.

Mike

Man that is honest... but is it YOU that has changed or the MARKET? I've pretty much stopped making money on ZN range bar trades... but chasing HH and LL where any volatility can be found is working. I'm convinced price action has changed since roughly Q2 this year, but the only quantitative measure I can use to back that up is a drop in ATR. I'm considering a new sign for the office door;

"Check Your Macro Opinions At The Door"

In the end, it's price.

 
(login for full post details)
  #30 (permalink)
 cunparis 
Paris, France
 
Experience: Advanced
Platform: Market Delta & Ninjatrader
Trading: ES
 
cunparis's Avatar
 
Posts: 2,565 since Jun 2009
Thanks: 1,162 given, 2,081 received


MXASJ View Post
Man that is honest... but is it YOU that has changed or the MARKET? I've pretty much stopped making money on ZN range bar trades... but chasing HH and LL where any volatility can be found is working. I'm convinced price action has changed since roughly Q2 this year, but the only quantitative measure I can use to back that up is a drop in ATR. I'm considering a new sign for the office door;

I totally agree with this. I don't have much proof but I can offer this:

I worked hard on a trading plan in March & April, doing tons of manual backtesting and sim. In May I went live with real money on ES using tick charts. May - July 14 I was very profitable, winning 68% of my trades. Then in July disaster struck. Nothing worked. In July - Sept I gave back 1/2 of what I made in the prior months and I stopped. I was only using 1 price indicator and it had no moving averages or anything else that I could optimize, and it just drew S/R lines so nothing magical there.

In Sept & October I started trading with 5 min charts without any indicators, taking breakouts of S/R. It worked. Now in mid Oct I'm revisting my old strategy but I can't make it work on tick charts any more. But interesting enough, it does seem to work on 5min. VERY WELL.

I went back to the tick charts, disaster again. I'm talking CL, Euro, & ES. Back to minute charts. Success.

So maybe it'd be vain to say the market changed, I most likely changed too (I stopped doing daily perfect trading charts, keeping a journal, etc.). But I really think something happened. And early October CME changed the reporting method so tick charts are not the same. Not sure if this affects NYMEX or not.

Now I use 5min as my main trading chart, with 1 min sometimes for timing, and 15 min for trend.

Range charts compress too much. You can't see all the trading ranges (dojis) and consolidation, etc. It kept me from reading price action.

Finally, on CL 5min, there are often 30-40 tick bars. I don't trade during these times cause I always put my stop under a swing low and with a couple 30-40 tick bars that means a stop of 30+ ticks. So I just sit out. Before I'd drop down to tick charts to try and trade it but that's futile. Anything less than 5min is noise.

Mike - I'm very glad to see an almost indicator free chart. You're an inspiration.

Follow me on Twitter
The following user says Thank You to cunparis for this post:
 
(login for full post details)
  #31 (permalink)
 Prtester 
SE-Asia
 
Experience: Intermediate
Platform: NinjaTrader
Broker: Amp
Trading: ES
 
Posts: 148 since Jun 2009
Thanks: 64 given, 122 received

Does any one try Constant Delta Bars based on a UpDown With Continuation model ?, I would love to hear some comments if anyone try them.

Attached Files
Register to download File Type: cs GomDelta.cs (4.0 KB, 30 views)
 
(login for full post details)
  #32 (permalink)
 AR01 
CA
 
Experience: Beginner
Platform: MT4, Ninja Trader
Trading: EUR/USD
 
Posts: 495 since Oct 2009
Thanks: 400 given, 627 received

The market did change for tick charts on 10/4. I sent this to Richard at Movethemarkets.com before I found you guys.

Investor/RT - Answers* (LinnSoft.com)

Andrew

Visit my futures io Trade Journal
The following 4 users say Thank You to AR01 for this post:
 
(login for full post details)
  #33 (permalink)
 shodson 
Quantoholic
OC, California, USA
 
Experience: Advanced
Platform: IB/TWS, NinjaTrader, ToS
Broker: IB, ToS, Kinetick
Trading: stocks, options, futures, VIX
 
shodson's Avatar
 
Posts: 1,962 since Jun 2009
Thanks: 529 given, 3,655 received


AR01 View Post
The market did change for tick charts on 10/4. I sent this to Richard at Movethemarkets.com before I found you guys.

The change was only on equity futures (like ES, YM, NQ, etc), not commodities, forex or treasuries

https://www.cmegroup.com/globex/files/EquityFuturesEnhancements.pdf

Follow me on Twitter Visit my futures io Trade Journal
The following 2 users say Thank You to shodson for this post:
 
(login for full post details)
  #34 (permalink)
 AR01 
CA
 
Experience: Beginner
Platform: MT4, Ninja Trader
Trading: EUR/USD
 
Posts: 495 since Oct 2009
Thanks: 400 given, 627 received

Thanks for the clarification.

Andrew

Visit my futures io Trade Journal
 
(login for full post details)
  #35 (permalink)
 DavidHP 
Legendary Market Wizard
New Orleans, La (Mardi Gras City)
 
Experience: Advanced
Platform: NinjaTrader
Broker: Ninjatrader / Optimus Futures / AmpFutures
Trading: ES / 6E / 6B / CL
 
DavidHP's Avatar
 
Posts: 1,379 since Aug 2009
Thanks: 10,176 given, 2,428 received


Prtester View Post
Does any one try Constant Delta Bars based on a UpDown With Continuation model ?, I would love to hear some comments if anyone try them.

Yes, I've tried them. Gomi has several indicators based on Delta Volume.
I'm a volume nut so I've tried all of his.
I've even customized some of them to the way I like them.

The most significant thing in his indicators (IMO) is the ability to record and save the data. Unlike most 'live only' indicators, it can use recorded data to show price action / volume during replay or static viewing.

The only problem I see with Delta Volume is that many times it does not mean anything.
(Or at least it does not mean anything to me.)
I think it could be valuable in some cases but it seems like more information or a confirming indicator is necessary.

But that is JMO and what the heck do I know.

Rejoice in the Thunderstorms of Life . . .
Knowing it's not about Clouds or Wind. . .
But Learning to Dance in the Rain ! ! !
Follow me on Twitter
 
(login for full post details)
  #36 (permalink)
 Riverend 
Westlake, Oh
 
Experience: Beginner
Platform: NinjaTrader
Trading: CL
 
Riverend's Avatar
 
Posts: 362 since Jun 2009
Thanks: 1,511 given, 219 received

Mike did you also find MML no longer helpful?

 
(login for full post details)
  #37 (permalink)
 Big Mike 
Site Administrator
Swing Trader
Data Scientist & DevOps
Manta, Ecuador
 
Experience: Advanced
Platform: Custom solution
Trading: Futures & Crypto
 
Big Mike's Avatar
 
Posts: 50,075 since Jun 2009
Thanks: 32,539 given, 98,508 received


Riverend View Post
Mike did you also find MML no longer helpful?

I think MML can be helpful, but I am not currently using it.

Mike

We're here to help -- just ask

For the best trading education, watch our webinars
Searching for trading reviews? Review this list

Follow us on Twitter, YouTube, and Facebook

Support our community as an Elite Member:
https://futures.io/elite/

Visit other sites? Please spread the word about your experience with our community!
Follow me on Twitter Visit my futures io Trade Journal Started this thread
 
(login for full post details)
  #38 (permalink)
 KJAVED 
Toronto Canada
 
Experience: Intermediate
Platform: ninja Trader, Ensign,Market Delta
Broker: AMP,Global Futures
Trading: Eminis
 
Posts: 97 since Jun 2009
Thanks: 46 given, 83 received

MML very helpful to look for overall picture of price movement. It better perform at bigger time frames, like, 15, 30 and 60 Min. charts.

 
(login for full post details)
  #39 (permalink)
 cunparis 
Paris, France
 
Experience: Advanced
Platform: Market Delta & Ninjatrader
Trading: ES
 
cunparis's Avatar
 
Posts: 2,565 since Jun 2009
Thanks: 1,162 given, 2,081 received


KJAVED View Post
MML very helpful to look for overall picture of price movement. It better perform at bigger time frames, like, 15, 30 and 60 Min. charts.

This is just my opinion but the only advantage I see in using mathematical calculations to determine S/R levels in advance is for automated strategies. If you're doing things manually then why not just mark off horizontal lines on the S/R pivots?

Follow me on Twitter
 
(login for full post details)
  #40 (permalink)
 KJAVED 
Toronto Canada
 
Experience: Intermediate
Platform: ninja Trader, Ensign,Market Delta
Broker: AMP,Global Futures
Trading: Eminis
 
Posts: 97 since Jun 2009
Thanks: 46 given, 83 received

I do not believe on automated strategies. I know that nothing is better than human brain. It is quick and more reliable with continuous change conditions during live run of markets. As all markets run by humans. So Fib. is best tool to judge their behaviour/physiocology. I try to calculate all possible support and resistance levels mannullay by using Fib retracement, Fib extensions and Elliotwave movements once I find a good level with these tools, then this level gets more strength if supported by some mathematical levels like MML, IB Range,Sq9, and further confirmation about trade setups come from VPA and Price behaviour. Most of my trade setups are based on retest of those levels. This provides me Low risk Trade opertunities.

The following user says Thank You to KJAVED for this post:
 
(login for full post details)
  #41 (permalink)
 KJAVED 
Toronto Canada
 
Experience: Intermediate
Platform: ninja Trader, Ensign,Market Delta
Broker: AMP,Global Futures
Trading: Eminis
 
Posts: 97 since Jun 2009
Thanks: 46 given, 83 received

Sorry I miss one most important mathematical tool, that is TTT Lines of Ric.

 
(login for full post details)
  #42 (permalink)
 Big Mike 
Site Administrator
Swing Trader
Data Scientist & DevOps
Manta, Ecuador
 
Experience: Advanced
Platform: Custom solution
Trading: Futures & Crypto
 
Big Mike's Avatar
 
Posts: 50,075 since Jun 2009
Thanks: 32,539 given, 98,508 received

Here is my chart for today.

Rules are simple, only trade in direction of trend. Histogram will make that obvious. From there, look for good entries, and set stops and targets per the bands.



Mike

We're here to help -- just ask

For the best trading education, watch our webinars
Searching for trading reviews? Review this list

Follow us on Twitter, YouTube, and Facebook

Support our community as an Elite Member:
https://futures.io/elite/

Visit other sites? Please spread the word about your experience with our community!
Attached Thumbnails
Click image for larger version

Name:	2009-11-19_1702.png
Views:	271
Size:	204.1 KB
ID:	4740  
Follow me on Twitter Visit my futures io Trade Journal Started this thread
 
(login for full post details)
  #43 (permalink)
 shodson 
Quantoholic
OC, California, USA
 
Experience: Advanced
Platform: IB/TWS, NinjaTrader, ToS
Broker: IB, ToS, Kinetick
Trading: stocks, options, futures, VIX
 
shodson's Avatar
 
Posts: 1,962 since Jun 2009
Thanks: 529 given, 3,655 received


Big Mike View Post
Here is my chart for today.

Rules are simple, only trade in direction of trend. Histogram will make that obvious. From there, look for good entries, and set stops and targets per the bands.

Mike

Mike,

Like many guys on this forum, you display a beautiful chart but little explanation of how you are actually trading (or if you are actually making trades off of this chart). If you have a detailed post of this somewhere else then I'm sorry for complaining or not being aware of it. But if you don't then when I see this post and this chart these are some of the questions that go through my head.
  1. Histogram: How is it obvious? Buy when it's rising and sell when it's falling? At what point do you decide that a) it is a trend and b) you want to follow/get in? What are the red and blue horizontal lines? I'm guessing if the histogram is inside this range you're considering it to be chop? Do you buy once it penetrates past the red line? Or are you using those lines as support and resistance lines and are trading it like a channel? Since I don't know what that indicator is I don't know how you use it.
  2. EMA (or line that looks like an EMA) - How are you using this? Buying/selling on the cross? On bar close or intra-bar? On the first cross, or after a cross, retracement and re-cross? Or are you using it at all?
  3. Fib extensions: How are you using the fib extensions? Are those targets? Are you scaling out/in as each fib line is reached, and moving your stop as well? Or just moving your stop every time you reach a new fib line? Are you using limit orders for your stops or looking for bar closes retraced from the previous fib extension? Are you using the fib lines as they move WithTrend, or targeting the fib lines as they were at the point you entered the trade?
Mike, you're the last guy I should pick on. I love the site and you have done so much for it. Nobody has contributed more to this site than you. So I guess I'm targeting all traders on this forum who don't disclose their trades, just their pretty charts. I'm just a little frustrated with posts that show an ambiguous chart and say things like "it's obvious" and I don't even know what your trades were, or if you even made any trades and, if so, if you're having any success with it.

Anybody that follows my journal knows I'm wide open with my trades. Winners, losers, number of contracts I swing, entry and exit points, the reasons I entered and exited, I'm an open book. ALL of my trades get posted there, with charts, even the ones I passed on or missed because of some stupid reason. I don't hide any embarrassing losers. I discuss new things I've learned or observed, what books I'm reading, what I'm experimenting with, etc. I find it very helpful.

Occasionally I get responses from other traders on my losers like "what were you thinking?" or "man you gotta try something else!" and it makes me feel stupid or a little embarrassed but it challenges me to be more disciplined because success is the greatest revenge. Plus, I don't see them posting their trades, just pretty charts that makes me think they are really smart with technical analysis, know lots of math, statistics, digital signal processing and some things that I don't understand very well. However, I don't see any trades on their charts that show me they know how to trade.

I just wish more traders on this forum were as open and not so opaque about their trading strategies. I know, I used to be kind of the same way. I thought I had a strategy that was unique, I didn't want others to copy me, I worked hard on it so why should they benefit for free from my hard work and cleverness? I'm not sure why or when but I got over myself and just want to make money and if I can help people along the way then even better. The transparency and feedback helps me become a better trader. I invite all traders reading this to open up and let us follow along with you in your journey by providing more details.

With that said, I understand the "proprietary" feelings we get when we create something unique, clever and especially profitable. My "normal" job is writing software so I create proprietary things for people all of the time that can often make them a lot of money. And I haven't uploaded any of my code I've written so maybe I need to "get over" that as well. But I usually explain how it works with enough details that someone else that knows Ninjascript could create it.

Follow me on Twitter Visit my futures io Trade Journal
The following 4 users say Thank You to shodson for this post:
 
(login for full post details)
  #44 (permalink)
 Big Mike 
Site Administrator
Swing Trader
Data Scientist & DevOps
Manta, Ecuador
 
Experience: Advanced
Platform: Custom solution
Trading: Futures & Crypto
 
Big Mike's Avatar
 
Posts: 50,075 since Jun 2009
Thanks: 32,539 given, 98,508 received


shodson View Post
  1. Histogram: How is it obvious? Buy when it's rising and sell when it's falling? At what point do you decide that a) it is a trend and b) you want to follow/get in? What are the red and blue horizontal lines? I'm guessing if the histogram is inside this range you're considering it to be chop? Do you buy once it penetrates past the red line? Or are you using those lines as support and resistance lines and are trading it like a channel? Since I don't know what that indicator is I don't know how you use it.
  2. EMA (or line that looks like an EMA) - How are you using this? Buying/selling on the cross? On bar close or intra-bar? On the first cross, or after a cross, retracement and re-cross? Or are you using it at all?
  3. Fib extensions: How are you using the fib extensions? Are those targets? Are you scaling out/in as each fib line is reached, and moving your stop as well? Or just moving your stop every time you reach a new fib line? Are you using limit orders for your stops or looking for bar closes retraced from the previous fib extension? Are you using the fib lines as they move WithTrend, or targeting the fib lines as they were at the point you entered the trade?

Histogram: Shows what side price is relative to mid line. Only trade with trend, don't make it more complicated.

EMA: Is the mid line representation. Only trade with trend. Read the Brooks book for more on EMA taps, 2HM's, etc.

Bands w/fib: I use them to get a good entry. You can use them as a target or stop if you want, many people have told me they want to use it this way. Personally I was trading without the bands and created the bands to just help me gauge (I am very visual) price extremes, so I look to them for that.

Yes I appreciate people who post detailed entries, etc. I used to do that, as I used to make videos, blog posts, etc. Lately I am very busy running the forum, doing programming, and many things in personal life. Still, I want to help people. The purpose of the chart was not to say "Hey, I made a killing today". The purpose of the chart was to let you, the reader, visualize how you could trade a very simple chart. You can't just follow someone elses trades, you have to create your own method, and sure you can adapt others into yours, but in the end, it must be your method.

Mike

We're here to help -- just ask

For the best trading education, watch our webinars
Searching for trading reviews? Review this list

Follow us on Twitter, YouTube, and Facebook

Support our community as an Elite Member:
https://futures.io/elite/

Visit other sites? Please spread the word about your experience with our community!
Follow me on Twitter Visit my futures io Trade Journal Started this thread
 
(login for full post details)
  #45 (permalink)
 cclsys 
Sydney, NS
 
Experience: Intermediate
Platform: Ninja
Broker: Zen-Fire
Trading: TF,S,GC
 
cclsys's Avatar
 
Posts: 607 since Nov 2009
Thanks: 248 given, 392 received

BM: apologies if you have already answered this earlier but: what indicator are you using for the Weekly Pivot lines?

Visit my futures io Trade Journal
 
(login for full post details)
  #46 (permalink)
 Big Mike 
Site Administrator
Swing Trader
Data Scientist & DevOps
Manta, Ecuador
 
Experience: Advanced
Platform: Custom solution
Trading: Futures & Crypto
 
Big Mike's Avatar
 
Posts: 50,075 since Jun 2009
Thanks: 32,539 given, 98,508 received


cclsys View Post
BM: apologies if you have already answered this earlier but: what indicator are you using for the Weekly Pivot lines?

Using CMI's Pivot's, you can download here.

Mike

We're here to help -- just ask

For the best trading education, watch our webinars
Searching for trading reviews? Review this list

Follow us on Twitter, YouTube, and Facebook

Support our community as an Elite Member:
https://futures.io/elite/

Visit other sites? Please spread the word about your experience with our community!
Follow me on Twitter Visit my futures io Trade Journal Started this thread
 
(login for full post details)
  #47 (permalink)
 Zoethecus 
United States of America
 
Experience: Advanced
Platform: NT
 
Posts: 1,149 since Aug 2009

Given its lack of liquidity and participants can one make a good case for support and resistance in CL? I think not, but am interested in hearing from others who agree or disagree.

 
(login for full post details)
  #48 (permalink)
 cclsys 
Sydney, NS
 
Experience: Intermediate
Platform: Ninja
Broker: Zen-Fire
Trading: TF,S,GC
 
cclsys's Avatar
 
Posts: 607 since Nov 2009
Thanks: 248 given, 392 received


Zoethecus View Post
Given its lack of liquidity and participants can one make a good case for support and resistance in CL? I think not, but am interested in hearing from others who agree or disagree.

What do you mean by 'lack of liquidity'? Last time I looked (I don't trade it) CL has high volume. Not like TN or ES, but I just threw up a 1 min chart and during the day-session period it seems to average about 500+ per minute, almost a tick a second.

It is spikey, though, or used to be when I followed it a while back, and I suspect it still is. A very 'real' futures market.

PS (sunday): reading through the post I realise that the tone of the 'what do you mean' reads different than it sounded internally, which was in conversational rather than confrontational manner as in 'what do you mean the weather's been lousy this month, we only had three days of rain the past few weeks?' So apologies if any offense given which was not intended.

Visit my futures io Trade Journal
 
(login for full post details)
  #49 (permalink)
 Big Mike 
Site Administrator
Swing Trader
Data Scientist & DevOps
Manta, Ecuador
 
Experience: Advanced
Platform: Custom solution
Trading: Futures & Crypto
 
Big Mike's Avatar
 
Posts: 50,075 since Jun 2009
Thanks: 32,539 given, 98,508 received


Zoethecus View Post
Given its lack of liquidity and participants can one make a good case for support and resistance in CL? I think not, but am interested in hearing from others who agree or disagree.

Only you can answer that. You've seen what I use, now it is up to you to decide what you want to use.

I enjoy trading CL much more than ES. Liquidity is not a problem unless you are trading more than 20 cars or so and trying to scalp for very, very small gains.

Mike

We're here to help -- just ask

For the best trading education, watch our webinars
Searching for trading reviews? Review this list

Follow us on Twitter, YouTube, and Facebook

Support our community as an Elite Member:
https://futures.io/elite/

Visit other sites? Please spread the word about your experience with our community!
Follow me on Twitter Visit my futures io Trade Journal Started this thread
 
(login for full post details)
  #50 (permalink)
 steve2222 
Auckland, New Zealand
 
Experience: Beginner
Platform: Sierra Chart
Broker: AMP/CQG
Trading: Whatever moves in my timezone
 
Posts: 1,893 since Sep 2009
Thanks: 3,359 given, 1,529 received


Big Mike View Post
Here is my chart for today.

Rules are simple, only trade in direction of trend. Histogram will make that obvious. From there, look for good entries, and set stops and targets per the bands.



Mike

Hi Mike,

Where can one get the 'Paint Bar' indicator you are using?

Thx

 
(login for full post details)
  #51 (permalink)
 Big Mike 
Site Administrator
Swing Trader
Data Scientist & DevOps
Manta, Ecuador
 
Experience: Advanced
Platform: Custom solution
Trading: Futures & Crypto
 
Big Mike's Avatar
 
Posts: 50,075 since Jun 2009
Thanks: 32,539 given, 98,508 received


steve2222 View Post
Hi Mike,

Where can one get the 'Paint Bar' indicator you are using?

Thx

Here you are, it's very simple - just based on Closes.

Mike

We're here to help -- just ask

For the best trading education, watch our webinars
Searching for trading reviews? Review this list

Follow us on Twitter, YouTube, and Facebook

Support our community as an Elite Member:
https://futures.io/elite/

Visit other sites? Please spread the word about your experience with our community!
Attached Files
Register to download File Type: cs PaintBar_Close.cs (4.8 KB, 81 views)
Follow me on Twitter Visit my futures io Trade Journal Started this thread
The following user says Thank You to Big Mike for this post:
 
(login for full post details)
  #52 (permalink)
 cunparis 
Paris, France
 
Experience: Advanced
Platform: Market Delta & Ninjatrader
Trading: ES
 
cunparis's Avatar
 
Posts: 2,565 since Jun 2009
Thanks: 1,162 given, 2,081 received


Zoethecus View Post
Given its lack of liquidity and participants can one make a good case for support and resistance in CL? I think not, but am interested in hearing from others who agree or disagree.

I don't know how you determine liquidity but CL is one of the most liquid futures.

Follow me on Twitter
 
(login for full post details)
  #53 (permalink)
 Big Mike 
Site Administrator
Swing Trader
Data Scientist & DevOps
Manta, Ecuador
 
Experience: Advanced
Platform: Custom solution
Trading: Futures & Crypto
 
Big Mike's Avatar
 
Posts: 50,075 since Jun 2009
Thanks: 32,539 given, 98,508 received

Hey guys,

I wanted to share this:


Just posted it, it may be helpful to fellow crude oil traders.

Mike

We're here to help -- just ask

For the best trading education, watch our webinars
Searching for trading reviews? Review this list

Follow us on Twitter, YouTube, and Facebook

Support our community as an Elite Member:
https://futures.io/elite/

Visit other sites? Please spread the word about your experience with our community!
Follow me on Twitter Visit my futures io Trade Journal Started this thread
 
(login for full post details)
  #54 (permalink)
 klmklm 
saint louis
 
Experience: Beginner
Platform: Tradestation
Broker: Tradestation
Trading: ES
 
Posts: 4 since Apr 2010
Thanks: 1 given, 1 received

I am unable to view the video, it refers me to become an elite member, I already am an elite member.

 
(login for full post details)
  #55 (permalink)
 Big Mike 
Site Administrator
Swing Trader
Data Scientist & DevOps
Manta, Ecuador
 
Experience: Advanced
Platform: Custom solution
Trading: Futures & Crypto
 
Big Mike's Avatar
 
Posts: 50,075 since Jun 2009
Thanks: 32,539 given, 98,508 received


klmklm View Post
I am unable to view the video, it refers me to become an elite member, I already am an elite member.

You are ahead of the curve by a few days I am in the process of re-doing all the downloads, we're implementing a new Download System. That link is in limbo until we're live on the new system, check back in a few days.

Mike

We're here to help -- just ask

For the best trading education, watch our webinars
Searching for trading reviews? Review this list

Follow us on Twitter, YouTube, and Facebook

Support our community as an Elite Member:
https://futures.io/elite/

Visit other sites? Please spread the word about your experience with our community!
Follow me on Twitter Visit my futures io Trade Journal Started this thread
 
(login for full post details)
  #56 (permalink)
 David_R 
San Jose, Ca
 
Experience: Beginner
Platform: Ninja
Broker: AMP/CQG
Trading: Something moving
 
David_R's Avatar
 
Posts: 1,517 since Nov 2009
Thanks: 2,278 given, 2,412 received


Big Mike View Post
You are ahead of the curve by a few days I am in the process of re-doing all the downloads, we're implementing a new Download System. That link is in limbo until we're live on the new system, check back in a few days.

Mike


Mike,

Have you not traded CL since July? I don't see posts in your journal, man. All kidding aside, do you keep a journal on YOUR forum? One reason why I'm asking is because you had mentioned in your spread sheet you have entry method. I'm wondering how many entry methods you have because i thought from the price action thread you enter on the beak of a prior swing.

Chats or videos would be fine.

David

Visit my futures io Trade Journal
 
(login for full post details)
  #57 (permalink)
 Big Mike 
Site Administrator
Swing Trader
Data Scientist & DevOps
Manta, Ecuador
 
Experience: Advanced
Platform: Custom solution
Trading: Futures & Crypto
 
Big Mike's Avatar
 
Posts: 50,075 since Jun 2009
Thanks: 32,539 given, 98,508 received


David_R View Post
Mike,

Have you not traded CL since July? I don't see posts in your journal, man. All kidding aside, do you keep a journal on YOUR forum? One reason why I'm asking is because you had mentioned in your spread sheet you have entry method. I'm wondering how many entry methods you have because i thought from the price action thread you enter on the beak of a prior swing.

Chats or videos would be fine.

David

LOL, we've been through this before, but the bottom line is I don't journal my trades on the forum. I do track every trade of mine off-line, you can be sure.

I will answer the rest of your question in my Advice thread, as I don't post to this thread anymore as you can see.

Mike

We're here to help -- just ask

For the best trading education, watch our webinars
Searching for trading reviews? Review this list

Follow us on Twitter, YouTube, and Facebook

Support our community as an Elite Member:
https://futures.io/elite/

Visit other sites? Please spread the word about your experience with our community!
Follow me on Twitter Visit my futures io Trade Journal Started this thread
 
(login for full post details)
  #58 (permalink)
 masoud 
canada
 
Experience: Beginner
Platform: ninja
Trading: ES CL
 
masoud's Avatar
 
Posts: 48 since Dec 2010
Thanks: 19 given, 16 received

Hi Big Mike,

First of all thanks for such a nice Blog. I am trading CL for a while and the strategy I have is closer to what you are doing. Believe me it is a coincident that I am using EOT's indicators too.
But I am using AaTripleDszl and AaTripleCCI to enter the market in trend direction. I noticed the Diamond indicator you use in your chart is very better that what I use. in your post you are saying, you kindly like to help us to manipulate that indicator to look like yours. I don't have The Bollinger Bands from BWT but I was wondering if you kindly can help me to adjust it I will go ahead and purchase it from BWT? or if you now any alternative free indicator as you are mentioning in you post I would love to know that.
I appreciate your kind help and wish you all the best and luck.

Masoud






Big Mike View Post
Here is a video blog about trading CL. I also share my usual opinions on multiple time frames and indicators/simplicity, money management, etc.

Play the VLC media player if you have any issues after unzipping, just like all my videos in the Downloads section.

I'll try to keep this journal updated with CL thoughts and trades.

Small chart: 89 volume
Medium chart: 6 range
Large chart: 12 range

I've attached a screen shot but the main point of this post is in the video not the screen shot.

Mike

EDIT 07/05/2010: VIDEO MOVED TO NEW DOWNLOADS SECTION:
https://futures.io/educational/4482-video-big-mikes-cl-crude-oil-futures-contract-crude-oil-journal.html


 
(login for full post details)
  #59 (permalink)
 Big Mike 
Site Administrator
Swing Trader
Data Scientist & DevOps
Manta, Ecuador
 
Experience: Advanced
Platform: Custom solution
Trading: Futures & Crypto
 
Big Mike's Avatar
 
Posts: 50,075 since Jun 2009
Thanks: 32,539 given, 98,508 received


masoud View Post
Hi Big Mike,

First of all thanks for such a nice Blog. I am trading CL for a while and the strategy I have is closer to what you are doing. Believe me it is a coincident that I am using EOT's indicators too.
But I am using AaTripleDszl and AaTripleCCI to enter the market in trend direction. I noticed the Diamond indicator you use in your chart is very better that what I use. in your post you are saying, you kindly like to help us to manipulate that indicator to look like yours. I don't have The Bollinger Bands from BWT but I was wondering if you kindly can help me to adjust it I will go ahead and purchase it from BWT? or if you now any alternative free indicator as you are mentioning in you post I would love to know that.
I appreciate your kind help and wish you all the best and luck.

Masoud

I know nothing about the indicators Aa* you mentioned. As for this method in this thread, it is very old and not something I have looked at in a long time. Panel 2 indicator is OBV Diver it would seem. I would not recommend purchasing Blue Wave.



Mike

We're here to help -- just ask

For the best trading education, watch our webinars
Searching for trading reviews? Review this list

Follow us on Twitter, YouTube, and Facebook

Support our community as an Elite Member:
https://futures.io/elite/

Visit other sites? Please spread the word about your experience with our community!
Follow me on Twitter Visit my futures io Trade Journal Started this thread
The following 2 users say Thank You to Big Mike for this post:
 
(login for full post details)
  #60 (permalink)
 Nimble 
CA
 
Experience: Intermediate
Platform: NinjaTrader,JTrader,ThinkOrSwim
Broker: IQFeed
Trading: ES, ETF
 
Posts: 17 since Aug 2009
Thanks: 5 given, 20 received

Hi,

How can I access the Video in the original post? When I click on it, it says content no longer there.

Thanks.

Nimble

 
(login for full post details)
  #61 (permalink)
 Big Mike 
Site Administrator
Swing Trader
Data Scientist & DevOps
Manta, Ecuador
 
Experience: Advanced
Platform: Custom solution
Trading: Futures & Crypto
 
Big Mike's Avatar
 
Posts: 50,075 since Jun 2009
Thanks: 32,539 given, 98,508 received


Nimble View Post
Hi,

How can I access the Video in the original post? When I click on it, it says content no longer there.

Thanks.

Nimble

This is some very old stuff, so take it with a grain of salt



I corrected the link in post #1.

My more current stuff is here:


And then here:


And on that note, I am closing this thread because I don't trade this way any more.

Mike

We're here to help -- just ask

For the best trading education, watch our webinars
Searching for trading reviews? Review this list

Follow us on Twitter, YouTube, and Facebook

Support our community as an Elite Member:
https://futures.io/elite/

Visit other sites? Please spread the word about your experience with our community!
Follow me on Twitter Visit my futures io Trade Journal Started this thread
The following user says Thank You to Big Mike for this post:

Closed Thread

futures io Trading Community Trading Journals > Big Mike's CL (crude oil) journal


Last Updated on May 25, 2011


Upcoming Webinars and Events
 

NinjaTrader Indicator Challenge!

Ongoing

The Cold Hard Truth: Maybe I Am Not Good Enough w/Chris Gray @ Earn2Trade

Elite only

HIRO Indicator by Spotgamma in Bookmap w/Brent Kochuba @ SpotGamma

Elite only

NEW BlackBird Features + FOREX Support w/Jeremy Tang @ SharkIndicators

Elite only
     



Copyright © 2021 by futures io, s.a., Av Ricardo J. Alfaro, Century Tower, Panama, Ph: +507 833-9432 (Panama and Intl), +1 888-312-3001 (USA and Canada), info@futures.io
All information is for educational use only and is not investment advice.
There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
no new posts