OR noodling on a rainy weekend

Most of us it seems are trading some version of an OR breakout. Some are trading only ES and some, like I am trading ES and CL.

CL has been a revelation so I went back and looked at a few random months in the past to see how it would fare compared to ES.

The rules I used are as follows. 1M OR. All in/All out.

1st ES target equals extension of OR range. If that was a win, done. If that was a loser, the next break was taken with a target of 2X OR range extension (gets between +/- 2-4 range). If 2nd trade failed, 3rd breakout was taken, again 2X target. OR > 2 points was passed on.

1st CL target was 5 ticks. If that was a win, done. If it failed, next trade was taken with target of 1/2 OR range (larger than 5 ticks). 3rd trade never came into play.

3 months worth of trades comes in with ES having 50 winners and 33 losers for a gross total of $1,035 per contract.
The same time frame for CL comes in with 48 wins and 4 losses for a gross total of $1,880 per contract.

The kicker is that for my account the margin required for CL is slightly more than 50% of the margin required for ES. So for every 1 ES that I can trade, I am able to trade 2 CL contracts. So for equal margin the totals are $3,760 for CL to $1,035 for ES.

Food for thought, enjoy today's football!

lol... so, there it was,, O/R o Cl @ euro time,,, 56.74 to .72 wit h56.73 as open price... and the open of CL of 56.85 and like you say Mike... Boom, str8 down to ,,,56.73 ,,,and Yep,, you guessed it,, I was too busy watching it caught me by surprise and didn't trade it....go figure....Now that I see it in action,,, I,m going to watching it a lot closer from now on........
Thanks for putting it in front of me Mike....

I have different numbers brent.

EURO OR 56.72 - 56.67

RTH Open 56.81 so looking to go short only.

No BOOM but it "covers" Euro OR @ 10:38 Central .05 winner

CL EURO OR for 11/14

56.57 - 56.53

Currently looks like will open below, my bias will be to take the OR breakout long back to 56.53

Good luck today.

Originally posted by Big Mike



3 months worth of trades comes in with ES having 50 winners and 33 losers for a gross total of $1,035 per contract.
The same time frame for CL comes in with 48 wins and 4 losses for a gross total of $1,880 per contract.

Update through 11/13
ES 54W - 37L +$847

CL 54W - 5L +$ 2,080

$$ figures are per contract and do NOT account for commissions.

Thanks for that Mike,, I had the minute bar before open for some obscure reason...lol....on both occasions too......

good call Mike :)

Euro o/r 55.10 to 55.13 and it looks like Cl will open above so short back to 55.11..the euro open....

I may have jumped the gun a tad there....lol...with my prognosis........

Yeah no real target today, so took the breakout long for .05

I wanted to go long CL and did. CL did not.

Loser .10

That was for 2/14

2/15 was a loser twice