Welcome to NexusFi: the best trading community on the planet, with over 150,000 members Sign Up Now for Free
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 for basic access, or support us by becoming an Elite Member -- see if you qualify for a discount below.
-- Big Mike, Site Administrator
(If you already have an account, login at the top of the page)
I started doing some day trading on CL. Don't really know how to post results very well so I'm just going to post the data here. I guess someone along the way will help me out with some direction on how to present this data.
I use the larger chart for direction by looking at the direction of the 30 SMA. Other than that, I just trade based on the price action I see.
Thats about it... I'm a chart tech guy so I just look for buying opportunities throughout the day trying to come up with something that I repeat. I'll reply with my results.
This could work out for me or I could completely bust. lol We will see how things go.
-Allistah
Can you help answer these questions from other members on NexusFi?
I still have no idea how to report this properly so I'll just say the results.
The first day live was on Monday. I made 180 ticks by the time the market closed but I didn't do this with one contract. I was buying multiple contracts and selling one after about 10 or so ticks to soften the blow if the other one stopped out. As new recent highs are exceeded I would do it again adding to the position. I'd end up with 6 contracts in a direction. Once the trend tells me it is reversing with a lower high or double top I'll move my stop to the previous recent low. I also move the stop up at each recent low once it's established.
Second day I took a few losses but ended up 64 ticks at the end of the day.
So far the real trading is going well.
I guess after 8 years of studying charts this and learning how to move stops, find entries, trade with the trend, it is working out ok.
I am very skeptical though, I've been here before and got cocky and then ended up losing more than I won. I hope my paid education to the market (in thousands lost) will keep me sharp and calm so I do not make stupid mistakes that make me lose what I've gained. We will see what today brings.
That is what started it I guess. The jump up caught me way off guard and I had no idea wtf happened. Then I got whipsawed around a bit numerous times. Didn't act normal..
Is that why? Should I stay away from news days or something?
Man holding or trading crude oil through crude oil inventories on a Wednesday is instant death!
I always check news every day, especially for CL on Wednesdays. The oil report makes CL move to violent at half 10 to day trade
Just set alarms 5 min before and after news to avoid these unpredictable times
Unless your in a solid position....you have taken some profit and you are protected in the trade
Then try you luck and dabble with NEWS
" I will follow my rules, I will take my stops, I will be disciplined and i will work with the market....NOT AGAINST IT! Professional mind control is the key"
If your system isn't designed for news I would wait for high impact news events to pass(5-10min before and after). The crude inventories every Wed. at 10:30 is the biggest news event for oil. You definetly want to stay away from that.
Yeah I'm really not cut out for day trading.... Way too much emotion going on there. Too fast and too much going on for me to watch.
Doing my weekly spreads I don't pay attention to news and the emotion is pretty much non-existent for me which is why it works. I don't recall feeling this way for a really long time. It is though a good reminder on why I don't do this. So I'll call it tuition to the "Day trading is not for you class". It's a 3 hour course and it's really good - it puts an impression on you that you won't forget. lol ;-)