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Trading Oil - "Velocity" system


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Trading Oil - "Velocity" system

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  #91 (permalink)
 lancelottrader 
west palm beach florida usa
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Okina View Post
So far not so bad.

I try to trade on SIM shorter moves with tight stop (no targets). I've been stop a lot a the beginning but it is better now.

How tight a stop are you doing? After trading Cl for close to five years, I don't think stops under 10 ticks get very good results in the long run..even if you time your entries perfectly.

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  #92 (permalink)
 
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 michaelleemoore 
Missoula, MT Nɫʔay(ccstm)
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lancelottrader View Post
How tight a stop are you doing? After trading Cl for close to five years, I don't think stops under 10 ticks get very good results in the long run..even if you time your entries perfectly.

My time on the CL has convinced me of the same thing. Even though my method usually produces a quick winner, I've seen lately that a little wider stop would have kept me in a few trades I closed as losers. Today, playing with my method a bit, I allowed myself a wider stop and had only one stop out and a scratch. I'm subscribing to Lance's wisdom here.

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  #93 (permalink)
 
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 Okina 
montreal quebec/canada
 
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lancelottrader View Post
How tight a stop are you doing? After trading Cl for close to five years, I don't think stops under 10 ticks get very good results in the long run..even if you time your entries perfectly.

I've tried 4 but I was stop very often and after 7 was fine.

4 looks fine on paper but even in SIM I'm too slow and I miss the entry by a couple of ticks minimum depending how fast is the market.




But you are right I use 10 in real life but 90% of the time if I hit my 10 it is because I'm completely wrong about the entry.

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  #94 (permalink)
 
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 Okina 
montreal quebec/canada
 
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The reason I'm trying to do this SIM is to try to be more "natural".

If played tennis at a good level when I was young and the purpose of training is to repeat move thousands of time without the stress of the match. At the beginning you have to think about your move but after it become a reflex.

I've noticed by analyzing my signals at the end of the day that there are a lot of signals that I could play but only if I'm fast and only if I don't think. I'm not at this level now so I stick to the "easy one" when I trade but I miss a lot of potential.

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  #95 (permalink)
 
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 bobwest 
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Okina View Post
The reason I'm trying to do this SIM is to try to be more "natural".

If played tennis at a good level when I was young and the purpose of training is to repeat move thousands of time without the stress of the match. At the beginning you have to think about your move but after it become a reflex.

I've noticed by analyzing my signals at the end of the day that there are a lot of signals that I could play but only if I'm fast and only if I don't think. I'm not at this level now so I stick to the "easy one" when I trade but I miss a lot of potential.

I think this is the right use of sim. It's not for an inexperienced trader to learn to trade, it's for someone who is trying to work on elements of his game, but who has a game.

It's why athletes have practice and training outside the game or match.

This post is very well-put, I would say.

Bob.

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  #96 (permalink)
 
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 Okina 
montreal quebec/canada
 
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So far I had encouraging results. I need to bring that "thing" and myself to a new level now.

Challenges:
  • I'm a part-time trader. I need to go to full-time. I need to develop the dedication it takes to stay several hours in front of the screen and to it everyday. (I know me and it is easily said than done - for example I did not trade or look at the screen today and I have missed a hell of a day).
  • I need to create daily and weekly targets in order to help me develop consistency.
  • My system is demanding in the sense that I have few signals per day. Missing 1 or 2 means a poor day. I need to work on developing new setups, if possible, in order to increase trade opportunities.
  • Do not spent stupidly money easily made (second big challenge for me).

Objectives:
  • 50 ticks per day per contract & 250 per week.
  • If I hit at least 80% of the target for 1 month = increase size by 1 contract. Objective: being at 5 contracts in 6 months. (5 seems to me the good size for CL when you have a good system and consistent results).
  • Learn to trade other products (as an insurance just in case CL become too difficult for unknown reasons).
  • Learn a programming language (will need that at some point).

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  #97 (permalink)
 
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 Okina 
montreal quebec/canada
 
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First trade : I always put a what I call a virtual target that is 10 ticks away. It is due to a limitation of CQG with bracket order (I wont go into the details but if you enter a bracket order without target you can setup an exit with a limit order later). This time the market was too fast for me. By the time I move it manually my target it was hit and I exit with only +10 ticks.

Second trade: I was out of the move on the first. Usually I do not re enter a move that I have exited but the order flow was nice.

Third trade: went short a little too late. I did not like the way it moved. I scraped the trade with +1 ticks of profit.

Day is done


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  #98 (permalink)
 
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 Okina 
montreal quebec/canada
 
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CL has definitely changed its behavior during the last week.

Usually my trades last 5 or 10 min max in average. Now it is not the first day that I notice trends that last at least 30min to 1h during witch I have no real exit signals (In fact I have some but they are very weak and the profit is so large that I can afford to ignore them at some point).

Just 1 trade today:

8:57: short 38.21
9:49: exist 37.34

+87 ticks

I've now add donchian channels. With trendy market they work great. And I have copied some ideas from @michaelleemoore. The second indicator on the bottom of the chart is now based on the donchian mid line and as you can see this one stay at SELL during all the trend.

@michaelleemoore : thanks for the idea. I dont use the mid line like you as a filter for reversal but I use it in place of my VIDYA to stay in a trade when I have enough potential profit in the "bank". I have also a longer setting than you. I set the donchian at 60 period.


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  #99 (permalink)
 
Okina's Avatar
 Okina 
montreal quebec/canada
 
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Since I start reading futures.io forum I have learned something interesting at least once per week and I have learned something major to improve my trading at least once a month

Thanks.

My major discoveries from other people are so far :

Lancelettrader journal : how he read the chart and how I can use the sound to place a trade.
Michaelleemoore journal : how to use the donchian mid line instead of a MA.

of course I did not copy their systems and I have take a piece of it and use it at my "sauce".

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  #100 (permalink)
 
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 michaelleemoore 
Missoula, MT Nɫʔay(ccstm)
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Okina View Post
CL has definitely changed its behavior during the last week.

Usually my trades last 5 or 10 min max in average. Now it is not the first day that I notice trends that last at least 30min to 1h during witch I have no real exit signals (In fact I have some but they are very weak and the profit is so large that I can afford to ignore them at some point).

Just 1 trade today:

8:57: short 38.21
9:49: exist 37.34

+87 ticks

I've now add donchian channels. With trendy market they work great. And I have copied some ideas from @michaelleemoore. The second indicator on the bottom of the chart is now based on the donchian mid line and as you can see this one stay at SELL during all the trend.

@michaelleemoore : thanks for the idea. I dont use the mid line like you as a filter for reversal but I use it in place of my VIDYA to stay in a trade when I have enough potential profit in the "bank". I have also a longer setting than you. I set the donchian at 60 period.


That's what's great about FIO -- lots of ideas and an endless spectrum of ways to tweak a system that's already working for you! Nice work, Okina!

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Last Updated on April 1, 2016


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