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WTI Crude Oil Trading

  • #9,481
  • May 21, 2021 3:27pm May 21, 2021 3:27pm
Quoting james27
{quote} based on your criteria i marked yellow circle which valid open position pls check it and correct me . most difficult thing is EXIT rule. pls advice me. {image}
Sorry but all the trade openings indicated by the vertical lines are wrong. A trade is never opened when an arrow occurs but only at the beginning of the next brick if it is the same color as the brick with the arrow. Of course when you have a trade opened and there is an opposite arrow you could close the trade right away or do like I do, wait until the next brick starts forming then you can use the ChartTrader EA to close the trade and start a new one by pressing the yellow "Reverse" button. If you had opened the trades on the arrows circled the first trade was very good while the second trade was a loser.
  • #9,482
  • May 21, 2021 3:39pm May 21, 2021 3:39pm
Quoting Sporean
{quote} My brick size setting is correct at a 100 which is equivalent to 10 points each - same as yours, since my broker's quote is 4 digits. Because i'm trading in CFD wti, which technically is based off spot prices, I'm wondering if the increased volatility in PA is due to my brokers bid-ask quotation to shake out the clients with positions. Are you trading in CFD? May I ask which broker you are using? I am using IG. Maybe it's time to change brokers...
WTI is a CFD with my broker OANDA with a spread of 30¢ which is quite good and your broker uses 28¢ which is a little better but if the data feed is lousy a better spread is totally useless. The 30¢ OANDA spread is fixed except at the end of the day when it becomes 40¢. I guess IG has variable spreads that it uses to shake clients out of a trade but I hope that I'm wrong.
  • #9,483
  • May 21, 2021 3:44pm May 21, 2021 3:44pm
Quoting ranger_lp
There's a nrp version of half-trend, but if you use that, you'll get in late most of the time...I've tried it...didn't like it As for the repainting, I think it's more like recalculating than repainting as WTI is volatile and has some whipsaws...it's the price you pay trading this CFD. {file}
I posted these charts a while back when I traded the DAX. Looking at the charts you will understand why I prefer the Half Trend TT. With the Half Trend NRP you lose 1 brick each time you open or close a trade and worse it sometimes produces an arrow when the trend has ended.
Attached Images
  • #9,484
  • May 21, 2021 4:24pm May 21, 2021 4:24pm
WTI went up $2.04 today with a higher than average ATR that produced 1 losing trade (2nd signal) and 5 winning trades. The 4th signal producing 20 bricks or 200 ticks is quite exceptional.
Attached Image (click to enlarge)
Click to Enlarge Name: WTICOUSDM10.png Size: 33 KB
  • #9,485
  • May 22, 2021 8:45am May 22, 2021 8:45am
your Renko chart does not work on my mt4 somehow as i click on it it does not happend anything. i tried some another renko chart. it works well but it does not like yours and there are no arrows signal as well
  • #9,486
  • May 23, 2021 3:49am May 23, 2021 3:49am
Quoting htrader21
your Renko chart does not work on my mt4 somehow as i click on it it does not happend anything. i tried some another renko chart. it works well but it does not like yours and there are no arrows signal as well

There is no such thing as "my Mt4".
Renko's set-up is a bit tricky. Study those videos Hutch shared, and there´s more in you tube. You just need to do your homework carefully, like everything in trading.
All the best.
  • #9,487
  • May 24, 2021 6:51am May 24, 2021 6:51am
Quoting Hutch
{quote} Here it is but I had to expand the explanations because one of my friend never traded Renko. {file}
This is the same strategy that I posted at Post 9,481 above except that it contains a new folder explaining and showing a picture of the very rare occurrence of a missing signal.
Attached File(s)
File Type: zip Fx Bay Strategy STG.zip   482 KB | 461 downloads
  • #9,488
  • May 24, 2021 9:21am May 24, 2021 9:21am
hi i failed with MT4 so im working with tradingview. is there any chance to know your 3 number MCAD setting please Hutch. thank you so much and best health
  • #9,489
  • May 24, 2021 10:42am May 24, 2021 10:42am
Quoting htrader21
hi i failed with MT4 so im working with tradingview. is there any chance to know your 3 number MCAD setting please Hutch. thank you so much and best health
FxBay MACD (3, 4, 0) so I don't use the signal digit. Unfortunately most MACD don't work without a signal number.
  • #9,490
  • May 24, 2021 11:05am May 24, 2021 11:05am
I tried both the sell and buy options in the off-line chart but nothing happened.
Please how does this happen?
  • #9,491
  • May 24, 2021 12:30pm May 24, 2021 12:30pm
Quoting Glorybound
I tried both the sell and buy options in the off-line chart but nothing happened. Please how does this happen?
If you're talking about the Sell and Buy buttons on the ChartTraderv2 the Common tab must look like the picture below. The Auto Trading button on the Navigator bar must be pressed (Green). Lastly the lot size in the Inputs tab must be filled and positive.
Attached Image
  • #9,492
  • May 24, 2021 12:39pm May 24, 2021 12:39pm
When out shopping my stop loss of 2 bricks got hit so $200 down the drain. If I had been home I could have hit the reverse button and recover the $200 plus a few more coins since WTI now up 15 bricks up after my SL. No more shopping for me when a trade is opened
Attached Image(s) (click to enlarge)
Click to Enlarge Name: WTICOUSDM10- Sell 10 lots.png Size: 33 KB
Click to Enlarge Name: 200 loss.png Size: 2 KB
  • #9,493
  • May 24, 2021 12:45pm May 24, 2021 12:45pm
Quoting Hutch
{quote} FxBay MACD (3, 4, 0) so I don't use the signal digit. Unfortunately most MACD don't work without a signal number.
Hello again Hutch ! I hope you're doing well. First off, thank you for sharing that valuable information, strategy and your experience and helping everyone. I used that strategy and it's working so well, at least on demo. I dunno how to thank you, all heroes don't wear capes I guess.

The only tricky part is brick size. But rest is fine. I mean not fine, it's pretty pretty pretty good.
That's all for now. Happy haunting.
  • #9,494
  • May 24, 2021 4:18pm May 24, 2021 4:18pm
WTI went up $2.19 today with an average ATR that produced a break even trade (but not from me as seen in post 9,494 above) and a very nice winning trade.
Attached Image (click to enlarge)
Click to Enlarge Name: WTICOUSDM10.png Size: 31 KB
  • #9,495
  • May 24, 2021 10:03pm May 24, 2021 10:03pm
Quoting Hutch
{quote} Hi drknsingh. Here is an example in 3 pictures: 1. I pressed the Sell button. 2. I pressed the Reverse button. It closed the sell trade and made a new buy trade. 3. I pressed the Close Buy button. It closed the buy trade and here is the result. As you can see the 2 trades are independent. {image} {image} {image}
Thanks Hutch,

I have been using the Beetoom platform and this is in Bitcoin. Was fine until Bitcoin started to plummet, Got wiped out the last time and am worried of another double whammy. Market and Bitconin volatility that caused the wipeout.

Do you think I should carry on with the Beetoom or switch to another platform? TriumphFX does not trade oil.

What do you suggest ? Appreciate you comments.

Dr Singh
  • #9,496
  • May 25, 2021 10:47am May 25, 2021 10:47am
Quoting drknsingh
{quote} Thanks Hutch, I have been using the Beetoom platform and this is in Bitcoin. Was fine until Bitcoin started to plummet, Got wiped out the last time and am worried of another double whammy. Market and Bitconin volatility that caused the wipeout. Do you think I should carry on with the Beetoom or switch to another platform? TriumphFX does not trade oil. What do you suggest ? Appreciate you comments. Dr Singh
I traded with many platforms but I found that MT4 is by far the best because it has the most number of indicators as compared to other platforms. The more indicators a platform has the more strategies that can be designed for traders. I think that most MT4 brokers offer oil but I use OANDA.
  • #9,497
  • May 25, 2021 1:15pm May 25, 2021 1:15pm
Had 5 positions long on WTI (I scale in), almost got hit by the news stop run ( by a pip), finally ended with a little profit on each one...
It was lucky, but I did follow my rules.
U guys have a great evening.
  • #9,498
  • May 25, 2021 2:20pm May 25, 2021 2:20pm
Quoting Hutch
When out shopping my stop loss of 2 bricks got hit so $200 down the drain. If I had been home I could have hit the reverse button and recover the $200 plus a few more coins since WTI now up 15 bricks up after my SL. No more shopping for me when a trade is opened {image} {image}
Happened to all of us at some point. Takes discipline for me to be right there, at the end of each and every 15 min.bar I trade.
No mercy. Saw a video where the legendary Larry Williams was saying, "if you are looking for happiness, don´t trade". He once turned 10 K into a million in 1 year.
All the best.
  • #9,499
  • May 25, 2021 4:44pm May 25, 2021 4:44pm
Quoting cuchuflito
Had 5 positions long on WTI (I scale in), almost got hit by the news stop run ( by a pip), finally ended with a little profit on each one... It was lucky, but I did follow my rules. U guys have a great evening.
You were quite lucky as this was the worst trading day of the month with WTI going 3¢ with a very low ATR that produced 5 lousy winning trades and 1 good trade at the beginning of the session plus 1 break even trade.
Attached Image (click to enlarge)
Click to Enlarge Name: WTICOUSDM10.png Size: 39 KB
  • #9,500
  • May 25, 2021 6:12pm May 25, 2021 6:12pm
once again at the top of the range. going into sell mode
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