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bobs qwest to attain consistency
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bobs qwest to attain consistency

  #501 (permalink)
Market Wizard
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12/6 2012
thursday
trend day......
Cl gapped down 3oish ticks,but it was a short bias all the way.Premarket gave the shorts,and upon the rth open,she just dropped.

There was a long opportunity,which i botched.I brought back the vol ladder,and there was a huge vol area at .60,which i used as a reference, wtith the rth dvwap,to base my entry.The long was based off a penetration of the 1st std dev.The entry,i placed was 10 ticks above the correct entry,and i took a full stop.On days this volatile, expect overshoots.Cl overshot the correct entry,and i incorrectly viewed this as the level failing.Took a short, for a fulll stop

Moral of the story, im not ready for the vol ladder yet.Its too much info ,and im doing fine w/o it.If i would have stuck to my original entry, i would have had a nice trade.

Also, i realized this right away,and the focus left me,The short i needed was there , for a big winner.In the end, im left with my pants down, and the cl just doing what it does.Bad job by me today.Its been a while since i got whipsawed.Diecern the extremes , and trade them.Also,rth at 10...use it
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Hey Bob,

With regards to the retracement to the developing VAH and upper 1st SD level, that's a great trade based on the day. It's OK to take those if you're concerned with trading the extremes based on the opening drive down. That selling tail should be respected and the upper extreme then becomes the developing VAH. I took that trade and it worked out well.

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  #503 (permalink)
Market Wizard
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Hey Bob,

With regards to the retracement to the developing VAH and upper 1st SD level, that's a great trade based on the day. It's OK to take those if you're concerned with trading the extremes based on the opening drive down. That selling tail should be respected and the upper extreme then becomes the developing VAH. I took that trade and it worked out well.

Thanks Ben,in hidsight,it was a great trade.I was thinking short the entire am, but alas,the cl got to me today.With the short bias, the long entry i described,was a higher risk scalp for sure.The short just collapsed nicely.Thanks for the reply!

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  #504 (permalink)
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12/7/2012
friday
2 trades.
Its the same ole story, look for the reject areas.Try to form a bias.No magic,just need to get better at it.I have a habit of making things difficult...always have...trading is difficult...imoAs weird of a day as it was, there was opportunity...at the edges.There were even long apportunities,hi churn absorption areas....I broke even.

i found myself adding and subtracting, and the math added up well.However, i know from experience, the cl doesnt typically play like that.HHs ,LLs,thats great.Cl like levels.Cl likes reject areas.

Deciding where these areas should be,is an art ,that is hard to grasp.There are little glimses of transparency,for the wise to pick up.The rest go to slaughter.

I guess the val/vah areas are a good place to start.Vwap too.Dont forget vwap 1st std dev too.Oh,also,rth levels as they develop..dont forget those....hi vol churns should be noticed(at levels).Cod/hod/lod...those too.

the ON session, lately has been very active,particularly 1 hour before the open.Today,and yesterday, the best trades were pre market.Maybe i should consider that...also

I believe ,that i have grown ,a bit.A slow process.I rarely get my arse handed to me.Generally, my assessment of the big pic is good.My main issue, now , is execution.I can typically see the reject areas,but i find that when im there, im looking all over, trying to figure the perfect entry.

I am now looking at the entry from a risk perspective.Before price gets to the level area,i look at where the stop would be,and this is helping.I need alot of help ,still tho in this area.
My goal is to trade correctly,with less disonance.Its just not smooth.The entries when i feel confident, even when taking heat...comfortable enough to add, in the future.Thats a whole different topic,out in the future.

there are no absolutes,and the cl can be vicious.I seem to be trying to grasp a method where there is more of an absolute style.But i know the cl doesnt work like this.

so the work continues..On vacation for the next week,cheers

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im going to maker a change in my charts,which i will implement when i get back from vacation.My 2 main charts are 6r.I will change them to 1min charts,and give that some time.For a while, i have been referencing a 1min ch, with vol bars.I find that the candles offer info at vital reject areas.The range bars dont give this.i dont think that the holy grail will appear before me.I would like to use this for a while,and if it offers valued info,without added confusion,hopefully will stick to it.I consider this a very big change,but i also see the logic in it

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ive been using the cl thread"cl light crude analysis tpo/mpvwap/vpoc for my posts..

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1/7 recap

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todays recap

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i am posting my live recaps,to learn from the mistakes.This is a sloppy one,and i will be back on thursday

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1 18 recap

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