Normally I would fight back to get a green result, and with this condition, I would have $1000++ losses again. Today's market is impossible for my setup. Except last Crude Oil which I didn't participate.
Is there some theory to identify Market Sentiment, choppy or directional? I think opening volume is a good indicator for market movement.
My mistakes:
1. Adding previous day's price to the setup. Sometimes it worked, but most of the time it didn't linked at all.
2. Tick Chart on TF only bring misery. Stick to 1min TF chart.
3. Modify the CL, waiting the better price for CL. Most of the time when the setup worked, it's even hard to fill at the worse price.
Next trading system (hope it's the best) :)
1. TF 1min chart exclusively, no Tick Chart anymore.
2. No using yesterday's price setup. Only today's.
3. CL's better price for 5 cents is too high. Lower it to 3 cents/2 cents. It's just to avoid the exact tick Stopped Out.
Unlucky I believe... but bad luck doesn't last forever. ;)
ReplyDeleteHi FFXD,
ReplyDeleteYes, it's a lesson for me. Still today I can see what's worked and what's not.
No the trick is to find out the bigger probability system. It doesn't have to entering at a best price, but entering at the working system.
Tq for visiting :)
Hi. Been following for a bit. Al I can say is stick to your plan. You have had good results. May just be running into choppiness. I trade Cl and crazy erractic. What I use as a filter that keeps me on right side more often than not is the 50ema on 5 min chart. Above look long below short. Also look at dynamic pivots from coiledmarkets as another filter. Nothing is 100% but u know that. Good luck to you and keep up the success.
ReplyDeleteHi CC,
ReplyDeleteGlad to see others trade CL too (and got the same experience also).
I may backtest the EMA50 and dynamic pivot. See maybe it may work.
Tq for ur advice. Wish u great trades. :)
De:
ReplyDeleteI can see your frustration from 1.5 miles away, today is Tuesday and you labeled your post: "Wednesday Result".
I hope this is your Tuesday result and you will get a +500$ for your Wednesday!!!
Very funny RCM :)
ReplyDeleteTq for the correction