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mike im just starting to sim trade CL but no one is posting, is there another room you guys are in , i really want to learn and i enjoyed the first thread
hi trader,
read the old CL thread (link blow) for infos + post you charts / trade- + deas here in this one - i am shure the dicussion is going on then .
CL is worth it !
Well since no one is posting I'm going to show you what I did today. I started out by moving my stop to breakeven and then cried as it rallied 100 ticks. I'm going to learn not to do that one way or the other.
Next I tested the market and got stopped out a few times, but then managed to get two nice trades and ended the day +$400. They would have been even nicer if I didn't chicken out and cash in.
My intermediate goal is to be more patient to get longer runners.
Very nice Cunparis. Do you think by drawing you own trend lines that it keeps you
more in tune to whats going on?
Have you ever tried doing an over lay of the swing high swing low indicator to see
it compared to your chart?
I much prefer drawing everything myself. It keeps me on my toes and in touch with the charts. Keeps me active. I think having indicators do all the work can make me lazy. So I've been drawing everything by hand, experimenting with trendlines and swing pivots. After a while you draw them without even thinking and that's when you know you're in tune with the charts.
guys im new to CL and i use 24 hour chart so here are few ?'s
1) what is open outcry trading ? and is this time frame of 9 untill 2:30 important , very important ?
2) on cme website it says last trading day. Trading terminates at the close of business on the third business day prior to the 25th calendar day of the month preceding the delivery month. so does that mean i change to 11-09 on tuesday 09-22-09 and if so what time do i change it
#1 - that's when CL is most liquid. I trade it before then but not after.
#2 - just load up the current montha and the next month contract and when you see more volume on the next month you trade that. Trade where the volume is. each market has it's own rollover preferences, just go with the volume.
I do not recommend CL unless you have a proven winning method on other markets. And even then it's possible it won't work on CL. CL is amazing.