I don't think I'm going to get into anything else today, so might as well put down some more thoughts. I realised I didn't put a stop on the oil call (was $1 away), apologies.

So my stop and target on crude was 40 ticks today. I think a friend of mine thought this was excessive, maybe others do too, especially when I've been trading with 4 tick stops on the ES. As mentioned before though, crude is 10x more volatile (measure by ATR), so it seems pretty mundane to me.

Fixed tick/pip/$ stops and targets are just don't make sense to me. The vast majority of my targets and stops are based on highs/lows which are automatically adjusted to volatility, occasionally I'll use a multiple of ATR (all time new highs for example). Volatility also comes into affordability of contracts. It shouldn't just be the margin required, or the tick size.

I guess none of that is new to anyone beyond rookie years, but I guess it should be mentioned, try and post something more interesting later.


Long QM 106.25-107.25
$495.86

Total: $495.86

EDIT: I forgot to post the screencap, thought I'd put it on earlier. Note I was trading off the hourly chart from before, but that doesn't show much.

Buying crude 106.55, stop 106.3. Expect to make new highs, say 107.7, and return to test 107.25

Out @ B/E, probably should of exited off the break of a low on m15, but had to pop out so just moved stop there. Looking to sell a retest of 106.35 now I think.


...but for now, long 1353 on ES

EDIT: Another B/E, sigh

Been out travelling from TESCO to TESCO (long story). Missed all the fun.

Long Oil $104.9 on dodgy bucket shop sim

Stop moved to $105.15

Long crude again off m5 trendline.

EDIT: stop to b/e, I'm falling asleep in my chair, so probs a good idea!

Out for 10, going to have a nap. (hopefully after will format this, and post some more thoughts, I thought of something really good to write about, but forgot it)

-$4.14 (b/e)
-$4.02 (b/e)
$120.86
$120.86

Total: $233.56

Hindsight's a wonderful thing eh?

I missed the good trades today because I was out, but there were other good ones. I find it a good exercise to look at the chart at the end of the day and see what I could of traded, compared to what I did. I get a bye today because I was out .

So, 4th touches of trendlines, first one works, second one provides the one loss of the day, and obviously the breakout is another signal. A Bear flag is formed after the initial move down, and the further move down is another setup which worked out great.

Further on the way down, we have a small retracement to yesterday's low to the pip. I find on sharp moves, levels get very technical, and really like these setups, as it lets you get on the big moves without the large risk attached to selling breakouts with traditional methods.

We end with a few bounces on the low. Whether these would be successful is a lot more dependent on individual strategy/method, but most would of got +ev I think.


Of course my trades were in none of these places, but there's always tomorrow!

Short on the pseudo break of the trendline.

EDIT: Closed for -5

EDIT2: lucky me!

Once more short, probs leave it if til US session if this doesn't move now.

update: SAR'd