O|R of CL

other quick day. Big mike thanks for pointing this market out. How are you doing? Have you add other contract?

Mike,

question, if you take the trade 2nd time what is the target is it 1.5 times the opening times the opening range or 0.5 times the opening range.

Also will you let the trades run over 5 ticks target or until it hits the euro O/R. I/m trying to make this as robotic as possible. hence the questions. thanks for what you do here

Yes

Originally posted by tintin

thanks big mike. Did you take the same trade?

Today's trade was a win for me, just didn't get the 5 tick fill but when it hits, that's it.

Originally posted by tintin

Mike,

question, if you take the trade 2nd time what is the target is it 1.5 times the opening times the opening range or 0.5 times the opening range.

Also will you let the trades run over 5 ticks target or until it hits the euro O/R. I/m trying to make this as robotic as possible. hence the questions. thanks for what you do here

2nd trade is for 1/2 OR or at least 5 ticks. I do not let them run and have not tested that.

Regarding hitting the EURO OR, I need to have it hit my target BEFORE it gets to that zone.

Thanks Bigmike for taking your time to explain this. So once the price hits the 5 ticks you move the stop to profit. That explains the winners

Originally posted by Big Mike

Today's trade was a win for me, just didn't get the 5 tick fill but when it hits, that's it.

Originally posted by tintin


Mike,

question, if you take the trade 2nd time what is the target is it 1.5 times the opening times the opening range or 0.5 times the opening range.

Also will you let the trades run over 5 ticks target or until it hits the euro O/R. I/m trying to make this as robotic as possible. hence the questions. thanks for what you do here

2nd trade is for 1/2 OR or at least 5 ticks. I do not let them run and have not tested that.

Regarding hitting the EURO OR, I need to have it hit my target BEFORE it gets to that zone.

No, I don't move the stop to profit. If it hits 5 ticks, I usually get 5 ticks, sometimes 4 ticks. Depends and I really don't sweat it. My stop never moves, often times the market is moving too fast in either direction to do much beside watch-LOL

Originally posted by tintin

Thanks Bigmike for taking your time to explain this. So once the price hits the 5 ticks you move the stop to profit. That explains the winners

Originally posted by Big Mike

Today's trade was a win for me, just didn't get the 5 tick fill but when it hits, that's it.

Originally posted by tintin


Mike,

question, if you take the trade 2nd time what is the target is it 1.5 times the opening times the opening range or 0.5 times the opening range.

Also will you let the trades run over 5 ticks target or until it hits the euro O/R. I/m trying to make this as robotic as possible. hence the questions. thanks for what you do here

2nd trade is for 1/2 OR or at least 5 ticks. I do not let them run and have not tested that.

Regarding hitting the EURO OR, I need to have it hit my target BEFORE it gets to that zone.

ok so you use ur experience to figure out whether u will get that or not also if there is an area that needs to be worried abt before the 5 ticks target

Thanks

todays trade : winner

euro or 65.84 - 65.88
us or 65.95 - 66.02

so a short trade is favored

couple of things to be noted is the price opened close to euro o/r and also a S1 pivot number and close to yesterdays RTH low. so i had low expectation of this trade to work
short filled at 65.94 at 9:34 candle and filled for +4 ticks( i reduced the target becoz of low expectations) in the same candle at 65.90

So far
2W - 1L
for net 0$

tintin nice going

what happened for me was i got filled at 93( had sell stop at 94) had order to exit at 88 and i cover at 96 for the loss.

Thanks Duck and ofcourse to Big mike too.
I'm just Sim trading this as of now as Im new to Day trading and can't spend lot of time at the screen during day.
So trying to come up with some basic mechanical stuff for trading.

Big Mike/Duck, are oyu guys trading any ES strategies same like this CL one?

Thanks

No more ES for me. CL works much better for what I'm doing.

Great Info, Question: On the FTSE100 - what is the index indicator for market direction for the day?, do you know the code?
In Australia for the ASX200 the SPI200 SFE SPI 200 Index Sep '20 (APU20) futures contract is used as a general indicator for market direction for the day - particularly at the open. Is there a similar indicator for the UK market? thanks in advancew.