Will answer this weekend... right now trying to get first place in wti trading contest for fun. https://www.cmegroup.com/futures_challenge/leaderboard I'm 1EJ Most these guys got really lucky buying Sunday night and holding. I got a really late start when I traded first position Monday afternoon, so really had to wrok to get top position. 20 min to go so wish me luck!
Looks like I won! Have to edit my previous post. My first position was actually on Tuesday, so I missed out on the large move from Sun to Mon. Here's the trade log the CME provided to me after the contest... one can review and get an idea of my style. Adding the 60min chart for CL ( WTI=West Texas Intermediate (Crude Oil))
%% Good points........................................................................... But one of my charting systems + note book has moving averages so i make do with them, occasionally. 200 can provide$ a real general [almost too general , but not quite]day trading guide for profit taking. Not sure one could really use a 50dma in daytrading, like possible in sWing/position trading/investing
I have actually answered all your questions in detail in my previous posts. I'll touch upon them here, but please go review my posts... there are less than 50 . The 50ma on the 60min is not as range bound as you may think. I can only go back 360 days of data, but I started tracking it since 2019. Go and have a look. It's the best edge right now for trading NQ. Yes, but it has been adjusted as the account has grown. Currently at: 1.5nq * 25pts * 2x = $1500/~50k=3%. Max position size currently is 1.5nq = ~30k. I haven't done the avg position size calc since for me it is not meaningful, because there are a lot of times I have missed my "perfect setup" entry points by just .25pts and didn't chase the mkt. My exit is not as tight as I am willing to go has high as 1pt slippage. My tight entries are my "leaks" currently. All the cancels you see in my posts are where I missed great trades since I usually scale into positions. Some more very important info I will add. My trades revolve around the 5 min and 60min candles. (there are other time frames too as explained in previous posts). I pay VERY CLOSE attention to the time when the next candle will be created. The last few seconds of a candle in its timeframe more often than not gives clues as to what will happen in the next. Lastly, I found out late Friday that I actually won $2500 in the WTI trading contest. I do remember there was a prize, but thought it was only for a book for the top 40 results. This was my very first entry into any type of trading contest and I did it just to see if my methods work on WTI... I think they do! Last btw, I don't listen to any news, track any advisement services etc. All my trading is all based on chart pattern supply/demand from what I assume are HFT algos.
To see if the rally holds? I don't see anything on the calendar. Bonds seem to teetering about when rate cuts may actually happen, talk about looking ahead.
Agree, nothing I see on calendar. But I see a lot (not good) on the charts. Maybe nothing, maybe something. TWT
Guess sumtim' popped onto the calendar this evening. OPEC cutting production. CL gapped up tonight $5 or so. Not good for retail spending except for Exxon maybe.