Actually, I'm just jealous of your cool handle! Maybe I should change my handle to "Hammer", or "bullish engulfment", or "double top". Yeah,,,, "Double TOP" that's cool!
Here's My charts for the day. I only trade from Open NY time. or 6:30 PST to 9PST. Today I went live after a 1 1/2 month Price Action learning period. MAN, did I feel the psychological aspect prey on me. I put a couple orders in 30 mins before and as price got there. I took them out, then put them back in and uggg. But I have to trust my system. Did a NoDoji tactic and had to double throw for my second trade on ES. RULE: don't move my initial stop until 10 mins! But man that is more stressful live.
Brent, Maybe you should start your own journal (I mean it in a nice way). Also, I'm not sure I understand your trades from your charts, could you please clarify? Thanks.
Yeah Picaso I think I will! but I still will be around here. Oh I'm changing my handle to "Doubletop" in respects to NoDoji!
No CL trades today, but took 1 6E trade for 29 ticks (pips?). I put up the 6E and CL charts on my 2 monitors. I'm embarrassed to admit that I have never noticed how correlated the two instruments are. So this begs the question - why put up with the craziness of CL when you get the same patterns with 6E? Anyone trade the two simultaneously?
I have the 6E on my screen during the day. Basically my setup goes: 6E CL1min ES 5min CL and my DOM is vertical from top to bottom of my monitor to the right of the right edge of ES and the bottom CL. I think I have around 50 some price levels on my DOM. The bottom part of the DOM cuts off at the bottom of my screen right where the account drop down box is since I don't use the ATM. 6E and CL trade pretty close to the same. The setups are pretty close. They don't always correlate day-to-day so don't just rely on one or the other to tell you what the other is doing. Make sure you notice when they don't as it can often conflict with your trades and/or cause you to take a trade that you wouldn't normally take. The 6E is 12.50 per tick so slightly more risk. But yes, some days 6E is just a thing of beauty while CL can't get out of its own way. CL was tough today. I had 3 BE trades for +4. I called the last big move of the day, but I didn't take it. I was kicking myself after that. The big down trend line scared me away. It was the best setup of the day and the best move of the day and I missed it. I had a tough time trusting anything CL did.
I do to and the speed at which it goes makes it a nice market for me to Sim right now but as for to actually trade it. I think it may turn me into a nervous wreck! However, after SIMing on the CL I go to the ES and it's so slow and turtle like. Thank God my strat. works well on any market with good avg day movement.
I've gotten used to the moves that CL makes. I've gotten a feel for it. Sometimes I believe I can gauge the incoming momentum just on feel. It's not something that I can really put into words. Today, however, it just felt heavy. The moves didn't extend themselves. It was just a big range that would pick up momentum and then stop in its tracks. I played my stops tight, but didn't really get anything that was worth taking off the table. I said in the mid-morning that when CL was ready to make its move it would give a clear signal. Sure enough, it did, and I missed it.