No late day Cup. There is a reason it's once in a blue moon set up. I have only seen it 5 times in 2011. Past Friday is a distant memory. Monday took care of it. Cheers CL traders.
Thanks Mav, that confirms my suspicion. But I guess I will keep looking at them, if for nothing else than to know what market is doing and what different sectors are doing.
Yeah the reason I talk about them even though I know most guys here can't trade them is that watching spreads is a crucial part of understanding price action. Spreads reveal the internals of the market. They are the "true" economic driver of the market. Watching commodity curves is also important. When markets go into contango or backwardation they are revealing much more then flat price is.
I understand the theory behind con/bkwrdation but never have really tracked them. Going forward, will be doing it. Thanks for the inspiration. Btw, which prop firm do you trade for ? Because it seems you hold positions overnight for multiple days at a stretch, whereas most of the propfirms like Bright etall mostly let you do intra-day stuff. Thanks.
Bright lets you hold over night. Many other firms do as well. I'm starting a new group in Jan. So don't want to go into details here.
Here is one way to trade based off price action and RULES set by ACD every day. I do get stopped out 2-3 times a day and have 2-3 losers with stop loss. For my style of trading- 80% of the days CL trading is a battle and then we have 20% of trend days.