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backwardation

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Everything posted by backwardation

  1. @tehka yes absolutely this isn't a strategy for new traders, or even good traders. Its a variation of reverse double martingale which is a betting strategy. After 7 years of trading this method is what worked for me best, once I learned to control risk while still not using stops. I used to let my accounts grow, only to see a 17k account crushed to almost 0 in a matter of minutes.
  2. Fair enough, although all I wanted to do was mute an email, I'm now on the defensive. Here's today so far. I've withdrawn most of my account yesterday and I've turned $539 into $1141.10. thats more than double only during this morning (Dubai time). And pit session hasn't even started. This is where most profits are made. You forced me to brag, so yeah I'M **** GOOD. Although to be honest you are right to be doubtful, tons of BS out there. Only difference is I'm not trying to sell you anything and I'm telling you my way takes a lot of losses to learn. notice my position size increasing to the max I possible can with my leverage with each trade. That on CL is the secret sauce if you are good and have the psychology to withstand huge MAEs. Probably can be used with other scalping systems, not just my BB.
  3. @guesttraderjoe the ironic thing is my system got more profitable since start of the year. I think the big tightening wedge CL has been in all year might have something to do with that. I could never trade stocks, because my ability to screen is consistently worse than random selection (which is an achievement on its own). Have a wonderful profitable day!
  4. I regret posting this. People are DM'ing me thinking I'm trying to sell them something. I realized that most people probably don't understand the leverage already built into the CL contract (1000 barrels). So here's an example from yesterday: This trade took 11 mins. If your account had a tiny $150 balance and you took this trade with 1pound contract (margin $147), you would have made $315. Conversely, being on the wrong side of this will rip your face off. A more tropical trade involves 30-40 points, and you get so many of those during pit session.
  5. @tehka BB alone won't work for most real traders because the MAE (maximum adverse excursion) is very high for most sane people. It takes a certain type of numbness to make it work, and only with an instrument where blowing 70% of your account can be made up relatively quickly in a few trades. It also doesn't work with the mindset of an account grower. You have to keep withdrawing all the time before account blows. @guestphil I must add that yesterday was a particularly volatile day (probably one of the top 10 volatile days in CL history), so yesterday's results are not typical. Having said that my 'strategy' is profitable for me (touch wood and sprinkle salt and all the other good stuff).
  6. Not trolling, and definitely not advising anyone to use this strategy. I just needed to know how to stop receiving emails. Have a good day.
  7. DMA didn't help at all with futures. I was hoping it would have a price ladder for futures but unfortunately it doesn't. I execute on ProRealTime (using the scapling trade book window, the tiniest one, which I overlay on top always visible), but I watch the charts on SierraChart ($36/month). I started using Sierra a couple of months ago to get volume information and volume profile. I realized it didn't help my strategy, but its such a nice platform so I kept it for the bollingers. They look much sharper on their hollow candles.
  8. I must add and emphasize that this is probably not a good strategy for most people and will teach you extremely bad habits, and would really only work on a crazy volatile instrument like CL (possible GC and YM). Please don't lose your money because of what I wrote here, I don't need bad Karma. YOU HAVE BEEN WARNED.
  9. Yesterday I tool 43 trades all in CL (USOIL). My strategy it to go 'all in' when the bar closes and a new one opens outside the BB13 on 1 min. About 40% of the time this is too early an entry and my account is down 15-30% until it clips the 3 min BB13. For big massive moves like yesterday and Sunday I also use 30min BB13. Note than when price clips the Bollinger there is usually a pullback and a retest of the area it clipped, so you get to play the move twice in both directions. This is a very costly strategy, so only play with 'free' money you have already made. I don't place any take profits or stops. I watch the Bollinger and wait for the pullback to exit a position on the other end of the 'price rotation' (think like a zigzag indicator, but I don't use it on screen). Also when trading CL you have to have a scrolling twitter client open on your desktop like Tweetdeck with only important sqwuak services and trump in the feed. There is a veteran pit trader I know who uses a similar strategy, but only on 1min and 3min, and he adds things like true strength index to his systems. He posts his trades realtime on twitter. He made $9,000 yesterday in pit session only. @jimb2468 on twitter.
  10. @TrendFollowerIts a max leverage (2%) gambling/trading style for CL, without stops. I normally blow the account a couple of times a week. I always start from a $300 deposit and I withdraw 30% above $1000. I've had huge success and spectacular losses. Yesterday for example my account started the day at $187, ended the day at $2,300 (and I did blow the account during the day as well from about $1400 down to $380). Today that can more than double, or I might end the day with $48. I quantify my risk, in that I never fund my account more than I withdraw. Overall its profitable strategy for me, but I've lost tens of thousands over the years to finally hammer out the kinks. Basically I'm a gambler that got better at it. All I use in my 'strategy' are Bollinger Bands (13 periods) in 1, 3, and 30 min timeframe.
  11. Thank you. I didn't think of that. In outlook inbox rules you can control actions based on the subject. Here are the two rules I added that will hopefully fix my issue.
  12. The way I trade, I receive about 15-30 'please add funds to your account' and 'please add funds urgently' on a daily basis. I don't need these warnings and I would rather stop receiving them. How can I control that other than blocking IG from my email account (which I don't want to do)?
  13. Its a real shame that IG and Sierra Chart seem to have a lot of drama between them. If they can both stop being babies and give the customers the option to go with Sierra. Its amazing! Here are the TPO charts from Sierra: https://www.sierrachart.com/index.php?page=doc/StudiesReference/TimePriceOpportunityCharts.html
  14. Sadly IG doesn't have an option for market profile with PRT. I emailed PRT asking if I can just buy their license and use the latest version along with market profile for a fee. I will report back what I hear. I know MT4 has some sort of add-on, but I'm not a big fan of MT4. Also I think it might be tick profile not real volume profile, because I don't think MT4 handles L2 data (I could be very wrong about this). Here's a nice free tool, works only for ES at the moment: http://herdtrails.com
  15. I've been playing with it for the past few hours. It's very impressive and helpful. I still can't decide if the moving average crossovers are valuable, but the dual colored bars definitely do give an edge.
  16. @Caseynotes I Found this bull/bear volume indicator for ProRealTime. I haven't used it yet, but it seems nice. https://www.prorealcode.com/prorealtime-indicators/bear-bull-volume-indicator/
  17. Its crazy that its not rallying much more. This is the biggest drawdown in inventory since Sept 2016. Its a pretty big deal.
  18. The 4 hours candles are 'walking above' the Bollinger. a backtest of the past 2 years shows that this will almost certainly not end well for me. Took the loss, and now I'm out of the position. Public service announcement: DO NOT FALL ASLEEP DURING BIG NEWS ON AN OPEN TRADE!
  19. Thanks for your prompt replies. Happy trading I'll just have to sit and wait, painful as it may be.
  20. I'm about to be short squeezed on WTI. Fell asleep before API numbers yesterday, after a week of full of bad trading decisions. My short position will not force close until around $60.0 Barring any geopolitical tension, do you think we can come back down to $57.2 (where I opened the short). Or is this about to rise much more? If I close it now I lose a significant amount of money (for me anyways). Would you advise I deposit more money to keep the position alive in the hope that it comes back to 57.2 or close to it? @Caseynoteswould really appreciate your input. Also @elle if you would be so kind to chime in.
  21. Yes that's really nice! Exactly what I needed. @Caseynotes
  22. @Caseynotes I think this should work fine . Thank you very much.
  23. @cryptotrader Out of curiosity are you using 13 and 20 periods or are you changing the standard deviation?
  24. Thank you! Any idea about up/down volume (sometimes called bull/bear volume)?
  25. Oil volumes this morning are exceptionally low. Almost no sellers. Be careful in either direction.
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