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WTI Crude Oil Trading

  • #9,941
  • Nov 10, 2021 4:53am Nov 10, 2021 4:53am
#WTI / H4
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  • #9,942
  • Nov 10, 2021 5:10am Nov 10, 2021 5:10am
Quoting Hutch
I haven't traded for over a month because I was on a COVID diet (I haven't lost my sense of humor) {image}
Hello Hutch and other traders!
I've been playing with your template and I have a question - do you actually trade with the rules you described? From my point of view, live picture is totally different than you attach, or I see on my screen after day is over. You confirmed, that its not a problem for you when your indicators repaint, but in this case, counting of winning trades is nonsense - live view was different. You also wrote that you dont need main trend, but in this case its even bigger mystery for me.
Anyway, I like your aproach to Oil and I also see a lot of opportunities here so its not attack, I am trying to understand your strategy. Good luck and I wish you fast recovery!
  • #9,943
  • Nov 10, 2021 1:20pm Nov 10, 2021 1:20pm
#WTI / H4
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  • #9,944
  • Nov 11, 2021 6:55am Nov 11, 2021 6:55am
Quoting keepit
{quote} Hello Hutch and other traders! I've been playing with your template and I have a question - do you actually trade with the rules you described? From my point of view, live picture is totally different than you attach, or I see on my screen after day is over. You confirmed, that its not a problem for you when your indicators repaint, but in this case, counting of winning trades is nonsense - live view was different. You also wrote that you dont need main trend, but in this case its even bigger mystery for me. Anyway, I like your aproach to...
If your chart doesn't look like the chart that I published it's because of different data feed from brokers or that you haven't refreshed the chart at the beginning of your trading day. I experienced data feed problems in the past and even today with my secondary broker.

I do trade with the rules I published and having an indicator that repaints is not a problem if a trader knows how to handle it. The only reason I use the Half Trend TT is that it gives a signal 2 bricks before other Half Trends that don't repaint. Please take a look at this post
https://www.forexfactory.com/thread/...5#post13162815 and you will see why I don't use a non-repainting indicator. All non-repainting indicator need a confirmation of the trend and this results in less profit (2 bricks of 10 pips not earned means giving away 20 pips}. Also, non-repainting Half Trends sometimes give a signal when the trend has almost ended and this can lead to losses.

Trading with the main trend is considered safer than trading against the trend but, as you can see from the pictures below (200 EMA) trading exclusively with the main trend leaves a lots of profitable pips on the table. This is why I prefer not to trade with the trend but, instead, rely on the signal provided by the Half Trend TT but only when the next brick corresponds with the FxBay MACD line crossing in the same direction. On the other hand, it looks like that exclusively trading with the trends avoids signals that result in break even trades or bad signals.

Thank you for your well wishes but I'm afraid that it will take me quite a long time before my health recovers fully.
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  • #9,945
  • Nov 11, 2021 7:11am Nov 11, 2021 7:11am
Quoting Hutch
{quote} If your chart doesn't look like the chart that I published it's because of different data feed from brokers or that you haven't refreshed the chart at the beginning of your trading day. I experienced data feed problems in the past and even today with my secondary broker. I do trade with the rules I published and having an indicator that repaints is not a problem if a trader knows how to handle it. The only reason I use the Half Trend TT is that it gives a signal 2 bricks before other Half Trends that don't repaint. Please take a look at...
Crikey, was that a marathon, tho extremely well written and informative. All the best to you re your health, and trading. : )
"Don't Shoot Me I'm Only the Piano Player"
  • #9,946
  • Nov 11, 2021 7:40am Nov 11, 2021 7:40am
Quoting Hutch
{quote} If your chart doesn't look like the chart that I published (...) Thank you for your well wishes but I'm afraid that it will take me quite a long time before my health recovers fully. {image} {image}
Dear Hutch, also thank you for explanation. I will go deeper with it.
Recover soon and use this difficult time well!
  • #9,947
  • Nov 12, 2021 9:38am Nov 12, 2021 9:38am
Quoting Hutch
{quote} If your chart doesn't look like the chart (...) {image} {image}
Dear Hutch,
I spend today with your system and I get probably two false signals because of half trend repainting. macd confirmed. the first false (first red arrow) left there, so not repainted, the second arrow dissapeared so repainted this time. in your report after the day end, would you concider those two signals as bad entry, BE entry or you wouldnt take them because of other reason? thanks for you patient!
regards
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  • #9,948
  • Nov 13, 2021 2:36pm Nov 13, 2021 2:36pm
Quoting keepit
{quote} Dear Hutch, I spend today with your system and I get probably two false signals because of half trend repainting. macd confirmed. the first false (first red arrow) left there, so not repainted, the second arrow dissapeared so repainted this time. in your report after the day end, would you concider those two signals as bad entry, BE entry or you wouldnt take them because of other reason? thanks for you patient! regards {image}
Hi Keepit. The problem is that you use wicks and wicks fuk up most renko systems. Please take a look at the pictures below. As you can see the M68 chart provides better entries than the M10 chart. Since many traders like to see how a brick ends up by looking at the wick I will find a way to avoid wicks while still having similar information. I normally close the trade on a false signal but many false signals are good so I'm trying to find a way to not close the trade on a false signal if it looks like that the trade will continue in the same direction.
Attached Image(s) (click to enlarge)
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  • #9,949
  • Nov 14, 2021 1:24pm Nov 14, 2021 1:24pm
In essence , what is your view and conclusion to WTI please. Further downside if i am correct.




Quoting Hutch
{quote} If your chart doesn't look like the chart that I published it's because of different data feed from brokers or that you haven't refreshed the chart at the beginning of your trading day. I experienced data feed problems in the past and even today with my secondary broker. I do trade with the rules I published and having an indicator that repaints is not a problem if a trader knows how to handle it. The only reason I use the Half Trend TT is that it gives a signal 2 bricks before other Half Trends that don't repaint. Please take a look at...
  • #9,950
  • Nov 15, 2021 2:33am Nov 15, 2021 2:33am
Quoting Hutch
{quote} Hi Keepit. The problem is that you use wicks and wicks fuk up most renko systems. {image} {image}
Thanks, but no, its not wicks. I do not concider wicks so both pics you attached looks the same for me. Anyway, I see your idea here and I understand that the system is not ready. Most problematic in this case can be 3-4 false signal in a row, which happens when catching double/triple tops/bottoms. I was trying to add my indicators but as always, we can get more early signals with more false or late rare signals with less false. MM can manage both issues as it always does, but I have never seen any idea here - if you switch direction when get the signal probably progressing with order value or progressing TP can solve this. Just my point of view.
  • #9,951
  • Nov 15, 2021 10:38am Nov 15, 2021 10:38am
Quoting Hutch
{quote} Hi Keepit. The problem is that you use wicks and wicks fuk up most renko systems. Please take a look at the pictures below. As you can see the M68 chart provides better entries than the M10 chart. Since many traders like to see how a brick ends up by looking at the wick I will find a way to avoid wicks while still having similar information. I normally close the trade on a false signal but many false signals are good so I'm trying to find a way to not close the trade on a false signal if it looks like that the trade will continue in the...
I've noticed in your instruction materials that you alternate the brick size between 5 and 10. Which brick size do you actually use when you are trading this system live?
  • #9,952
  • Nov 15, 2021 3:45pm Nov 15, 2021 3:45pm
Quoting Tospyj
In essence , what is your view and conclusion to WTI please. Further downside if i am correct. {quote}
Like all short-term traders whether WTI goes up or down is irrelevant what counts is only the trend at the moment of initiating a trade.
  • #9,953
  • Nov 15, 2021 4:14pm Nov 15, 2021 4:14pm
Quoting TransparentT
{quote} I've noticed in your instruction materials that you alternate the brick size between 5 and 10. Which brick size do you actually use when you are trading this system live?
It all depends on the ATR average. With a low ATR (less than 100) such as for USDCAD or EURUSD brick size of 5 is appropriate. With WTI that has an ATR of 150+ a brick size of 10 is appropriate while high brick size of 20 or more is appropriate for Gold or Bitcoin. Best is to experiment to find the best brick size. To do this you might want to use this EA and choose brick size based upon ATR.
Attached File(s)
File Type: ex4 renkolivecharts_pimped_v4_13.ex4   24 KB | 566 downloads
  • #9,954
  • Nov 15, 2021 4:49pm Nov 15, 2021 4:49pm
Quoting Hutch
{quote} It all depends on the ATR average. With a low ATR (less than 100) such as for USDCAD or EURUSD brick size of 5 is appropriate. With WTI that has an ATR of 150+ a brick size of 10 is appropriate while high brick size of 20 or more is appropriate for Gold or Bitcoin. Best is to experiment to find the best brick size. To do this you might want to use this EA and choose brick size based upon ATR. {file}
Interesting, I'll give that a shot. Thanks!
  • #9,955
  • Nov 15, 2021 7:25pm Nov 15, 2021 7:25pm
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"Don't Shoot Me I'm Only the Piano Player"
  • #9,956
  • Nov 18, 2021 8:55am Nov 18, 2021 8:55am
Quoting Fadhl
OIL is due for a retrace before continuing up. 38.2 Fib should be a minimum retrace up to 50%.{image}
OIL has played out as anticipated and expected. $73 and $70 may be next after a revisit of $80.
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  • #9,957
  • Nov 18, 2021 5:50pm Nov 18, 2021 5:50pm
Quoting Fadhl
{quote} OIL has played out as anticipated and expected. $73 and $70 may be next after a revisit of $80. {image}
Possible, tho nice late rally off the lows of $77.40 back to $79.80 over past 16 HRS, currently 79.22.

Attached Image
"Don't Shoot Me I'm Only the Piano Player"
  • #9,958
  • Nov 18, 2021 10:31pm Nov 18, 2021 10:31pm
Quoting wodzu
Buy and hold still working properly. 80 has been smashed. There is no reason on the horizon to shift attitude in such a strong uptrend. I expect an acceleration upwards.
Certainly been an interesting ride for shorters, where were the stops? Still hovering above $80.00, I still say I would not short this, mid/longer term. The more the work the longer the break, I'll go with upside, without falling in love with a bull or bear mind set. : )

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"Don't Shoot Me I'm Only the Piano Player"
  • #9,959
  • Nov 19, 2021 11:09am Nov 19, 2021 11:09am
Quoting Ayax.TSS
#WTI / H4{image}
Perfect call, looking forward for your next setups!
  • #9,960
  • Nov 22, 2021 2:03pm Nov 22, 2021 2:03pm
Quoting Hutch
{quote} It all depends on the ATR average. With a low ATR (less than 100) such as for USDCAD or EURUSD brick size of 5 is appropriate. With WTI that has an ATR of 150+ a brick size of 10 is appropriate while high brick size of 20 or more is appropriate for Gold or Bitcoin. Best is to experiment to find the best brick size. To do this you might want to use this EA and choose brick size based upon ATR. {file}
Hi Hutch I'm looking for such an EA I noticed that sometimes I need to change brick size, NG and CL get choppy sometimes
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