WTI Crude Oil Trading

congrats
great trade
a masterpiece

Week update WTI GCLN9 contract:

Following the crossing of EMA20 at ~59, the median shows an unbroken decline to finish the week at 53.36. About 5.6 point decline.

ed. That's a 5600 USD gain on 1000 USD margin if one traded it perfectly

The word "gambling" was used on the thread tonight and I'm sure the poster did not mean it in any derogatory terms, only a figure of speech, "gambling" (take risky action in the hope of a desired result.) taken from google search,
It's described with nothing attached but the meaning, however, attached to trading it involves money, anyone who trades is doing a form of "gambling" and I say form because money can be made and lost, but not all monies at once, a horse race will lose your stake, but how many horse races can you claw some of the stake back(now we have betting exchanges quite a lot) but it's an old fashioned statement, as to how it's said and what's meant ".
This brings me to professionals in trading there is non, only those who made it work, I would beg to differ any valid point otherwise.
If you take a position on the Dow going up, through whatever means(stars, moon, clouds) and you make $100 everyday for the rest of you trading days, what title do you hold? (hero in my book)
So you go and purchase the latest charting software, multiple monitors, latest PC with operating system, books and books on trading, latest seminars, then you have loss after loss after loss, what title do you hold (someone who the hero needs to help in my book),
So in what context was the phrase used tonight, that I cannot answer, only the poster could explain what was observed to give the view that gambling could best describe the approach.
Maybe we could add and expand trading over the weekend, why we cannot be stigmatised but accepted as a lesser form of those who have made it. why what we do is wrong and what they do is right, so I'm afraid to say, if you make money trading, you make it, you can only pass down methods of what you, the individual has done to be consistent in making money, no one does anything wrong in trading if they make money.
Have a good weekend, Detector

TC, following your chart alone with the generated arrows, a pretty $ would have been earned, nothing short of a free signal service, many would keep this to themselves, good weekend and feel free to respond to my essay, LOL, D

Thanks, D

I am trying to make the information more usable by others, but without giving actual buy or sell statements. I don't want people looking to me for instructions. I do want them to be able to use the system that I follow while making their own decisions. Anyone can create the same charts that I make if they use the gradient formula that I have posted. Post #447 has explanation.

Sorry D I took an early bath

Crude Oil:

The Delta Cycle count indicates a Long Term Delta Low (black) - so be carefully with SHORTS.

Sixer

To everyone on this thread , Valter , I have no idea what size contracts people on this thread trade , it's none of my business. Detector , by the "sounds" of things , my reference with the word , gambling , are definitely misconstrued. I'm only here to help , and I really don't comment very much. When I see people being consistently stopped out of a trade , when their stop losses are 20 pips within their entry points , the stop loss hunters are "licking their lips". They will purposely stop you out , because in every trade their is a winner and a loser , but , grab a stop loss point and it's extra gravy for market makers. I certainly am not calling anyone on this thread a gambler in the purest form such as walking into a Casino and throwing your hard earned money into a slot machine.
I posted a link to a video by a wealthy trader named Joseph Nemeth , "How To Kick A$$ in Any Market" , on YouTube, very informative and accurate. My main take away from that video was
proper account management , entering trades with very small positions so when the market moves against me, I have no stress , and I am constantly in a position to add to my positions at various levels. On Friday , there were 3 opportunities to take profit on a trade of WTI , entering at $55.20 , PROVIDED YOU MANAGED YOUR ACCOUNT PROPERLY !!!!
The PIVOT POINT TRADING thread , by DAVIT , is in my opinion the BEST TRADING THREAD AVAILABLE ON THE WEB. Due to me educating myself and reading the 3000 +pages , yes that's correct , 3000+ pages , my win rate on my LIVE TRADING ACCOUNT is currently at 88.7%.
However , in order to get to my current level , I had to unlearn my bad habits , literally look at and study my mistakes , remember them , stick to the plan , plan the trade and trade the plan. "Trading is a marathon not a sprint" , posted many times , not my words , but , I WANTED TO SPRINT and quickly realized that slow and steady wins this race. A solid methodology is absolutely crucial.
In closing , didn't mean to offend anyone with the term "gambling". Check out the Mark Douglas videos , well worth it.
Green Pips To All ,
GreenEarth

GE, the fact that you do not post very often but made a contribution to the board is warming, please frequent it more, bring your ideas, I understand you have high regard for the pivot thread, also some of our comments on that board would not be tolerated, well here is open to all, be yourself and post your thoughts, test your ideas without criticism, bring what you have learned and show us other methods we can draw from, if nothing else, interact, the guys, (although I keep saying this, we could have girls, so make my apologies) post their thoughts, their charts, more information that you could ever put on a single screen, we take a look at their reasoned contribution, me included,and hammer this beast to the ground, no one will ever ask you of anything, you offer up what ever information your willing to part with, all that said and done, see you Monday, D

I have taken this from another thread, wouldn't take too much detective work to find, but got the posters permission, it was the right thing to do,

"That was a live call.
Not many on this forum prepared to stick their neck out...just the usual gobsh*te late to the show guys."

D

"entering trades with very small positions so when the market moves against me, I have no stress"

Well said GE

I wonder how far you would let it run against you, do you use stops?

The Dow may now be in a Bear market, 24988 + changes view. Oh how I wish my crystal ball was working

Check out the volume attached to the year 2018, so what's that all about?, everybody jumping in to buy? hmmm

Time will tell

[quote=GreenEarth;12305410]

1 – ……………….I have no idea what size contracts people on this thread trade…………………..

If you have no idea why did you wrote that you see:

……………….entering position that is far too large for account size …………

Would you mind to explain this to me?

2 - So, when you see someone, of which you know nothing about account size, trading size, trading style, MM, end of month/year results, bailing out 2 times in a row at around -20 you arrive to the conclusion:

……………… I see people being consistently stopped out ……………..,

So, 2 times bailing in a row make consistently for you ? Really ?

……………….when their stop losses are 20 pips within their entry points………….

You judge 20 pips is not appropriate for my tools/strategy?
Around -20 out 1/4 could be my best tested compromise to have a positive outcome on a series of trades, could it be?
Do you think that out 1/4 at -20, and often only out 1/8, is improper management of someone else’s account?

…………………….size contracts ………………. it's none of my business………………….

you should add also “other trader's stop losses” to the first part of this statement.

3 - ……………On Friday , there were 3 opportunities to take profit on a trade of WTI , entering at $55.20 , PROVIDED YOU MANAGED YOUR ACCOUNT PROPERLY !!!!................................

What makes you feel you have to judge other’s trades?

What makes you feel you have to use capitol letters, that is the equivalent of screaming in a forum, when you judge someone else's trades?

I have been for few months in a trading room with more than 100 pro traders, and not a single time I have heard one of them judging the trade of a colleagues.

I feel impossible to comment or judge someone else’s trade and if asked to, I would probably refuse.

I believe I have read all posts in The Swamp thread and I have never read a post in which @gatorinla and @Boulder allowed themselves to comment or judge someone else’s trade.

You mentioned Mark Douglas, well, he made some statements about making comments on someone else’s trades.
I believe you missed that part.

I believe you missed also the part about the number of stop losses in row.

Do you know my MM?
Do you know my excel formula that calculates imbalances and gives me inputs if to bail or if to scale in on retracements?
Do you know how large the imbalance and at how many standard deviations it is better to bail/cover/scratch/B.E. to keep on to pay my bills?
Do you know my scale in pace after the trade survived the first retracement?
Do you know my risk reward ratio?
My profit factor?
My MAE, MFE?

4 – You mentioned videos.
I watched many hundreds of videos (Mark Douglas included) and my view is this:

If you can live only on your trading results you definitely live on it.

I sincerely hope that you understand what I mean.

5 – You mentioned Davit.
I like him.
Imho he created a method that allows people to make money with no need to know the underlying forces of the market.
Trading his method is a good way to trade.
He asks nothing in exchange.
He only wants that people respect him and the rules of his thread.
He is an hero in some way.

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Couple of things from me:

A - Imho the best way to trading is the one that a trader built up along the years.
I have been taught a couple of proved ways to make money from the market but only when I found my personal one I felt ok and only at that point I dared to quit my corporate job.

B - I would be extremely worried if PA should stop to spike against my direction few minutes after I enter my first 1/4 or 1/8.
I absolutely need those damned adverse spikes because they prove my trend start identifying method is still in line with PA.
Sometimes I have to bail sometimes not.
I could reduce the -20 ticks to -10 moving down to M1 TF but this would complicate things too much with excel calc.
If tools says to bail I bail without any delay.
The loss is always very small.
It is a compromise that I willingly accept until, on the long run, the end outcome remains positive.
If I survive the retracement I scale in, sometimes extremely heavy, if the case. And in those cases it is a real party.

C – I like traders that make live calls.

Green pips to all,

regards
Valter

Valter , keep trading the way you trade , good luck. I'm attempting to help people , other than you apparently , IF BOLD TEXT BOTHERS YOU , then you've obviously missed the lesson in the message. I trade stress free.
Sponge , no I NEVER put a stop loss on the board. I use mental stops and YOU DO HAVE TO STICK TO YOUR PLAN. It's not easy to trigger your own stop knowing that you are "giving away your money". Stop loss hunters pick them off like flies. Account management has allowed me to be in trades where a spike has indeed went against me and I was down 247 pips. NOBODY KNOWS if a major player is going to take a massive position at any time. One tweet from Donald Trump is all it takes , currently.
To those who truly want to be successful in trading , watch the videos by Mark Douglas , and Joseph Nemeth , and that's just a start.

Green Pips To All ,
GreenEarth

Hi Valter, out of curiosity were the traders in the room using traditional indicators? were you ?

Back later

I put this as a guide as to what we do calling live, we take a very credible risk, we accept when it goes wrong and how it may make us look but with that said, If I thought I wasn't confident of my approach, I would save my embarrassment, just for the record, my trading is live, no demo, I'm an advocate of live trading, there is nothing that can stir emotion greater than money (where trading is concerned and not to be confused with life) , D
EDIT
This should not stop anyone from posting live, demo or otherwise, help is at hand for where we go wrong, D

My trading is based around indicators, plotting supp and res lines, also where the Dow is traded, sentiment, many times the "snap back" is greater than the initial move,(as far as time goes) we can sit all day to get the move but caught at the right moment, minutes is all we need to get the same results, just my penny's worth sponge, D

Same for me i like posting entries and exits mostly with pictures. Not to brag but for others to learn/review my trades. For me it's also a way to log my trades an inspire others/new traders.

My question to valter is simple.