[Dinerotrader]

Originally Posted by brownsfan019 »

I go with what is working at the time. Right now, focus on the CL is proving very profitable. Until that changes, I will keep my focus here.

Trading is about adapting to your surroundings and doing what works best for you. I think that's why some methods can't survive - b/c they become hard and fast in their ways and ignore what's going on around them.

Being able to adapt to the market and change which futures you are trading or how you are trading what you usually trade sounds like a valuable part of a trader's business model. My Dad is constantly reminding me about how many great traders were good for a certain number of years and then couldn't make the same returns anymore. I wonder sometimes if much of the difficulty of being successful for the long run is related to being able to adapt to the market as it changes.

[brownsfan019]

Originally Posted by Dinerotrader »

If you stop trading because you have made a certain amount of profit does that just mean you think your setups have a significant degree of luck to them. It would seem like if I trusted my setup, I would just keep on trading it during the hours I thought is was effective since statistically, I will make money. I can't decide if the quiting while you are ahead is a good idea or if it is just the best you can do with an average trading strategy.

That's a great point Dinero. One school of thought says take a certain profit when it's there and then quit. A 2nd school is what you said - keep going while it's there.

I'd like to think I'm a hybrid of the 2 - I will pretty much keep going unless I feel like it's just a struggle that day and/or it's getting near the close. But in order to get some of the bigger days that I have lately, I gotta keep going. If I stopped after a winner or two, I'd cut some winning days very short.

[brownsfan019]

Originally Posted by Dinerotrader »

Being able to adapt to the market and change which futures you are trading or how you are trading what you usually trade sounds like a valuable part of a trader's business model. My Dad is constantly reminding me about how many great traders were good for a certain number of years and then couldn't make the same returns anymore. I wonder sometimes if much of the difficulty of being successful for the long run is related to being able to adapt to the market as it changes.

I agree 100%. You can't just sit on your butt assuming what you are doing now will always work in the future. And adjusting/adapting can sometimes just be minor things too - we are not always talking huge things. Recently I noticed that my profits on the CL just far outpaced the other markets, so focus was directed there. I could still trade my basket of 6+ markets if I wanted, but the CL is where it's at right now. 6 months from now it might be back to the ZB or RLM for all I know.

If nothing else, it's useful to see how your trading holds up on other markets, even if not trading with real money.

[brownsfan019]

1-28-10: +$1180

Oil once again.

One note to those trading oil or thinking of it - this thing retraces like no other at times. If you try a trail stop, it needs a cushion b/c the volatility on the CL at times just wipes out weak longs/shorts over and over. I'll see if I can get a picture up later explaining this.

[thalestrader]

Originally Posted by brownsfan019 »

Oil once again.

One note to those trading oil or thinking of it - this thing retraces like no other at times. If you try a trail stop, it needs a cushion b/c the volatility on the CL at times just wipes out weak longs/shorts over and over. I'll see if I can get a picture up later explaining this.

CL sure is a zippy little market, Brownie. I never realized how that thing can just roll thrrough ticks like it does. Its like trading the 6E during a news release, but it seems for CL, the quick ticking keeps right on rolling. I see a lot intraday gaps on the tick chart as well. They usually fill immediately, but I see many times where atrade will take place at, for example, 73.28, and the next print is 73.18, but price quickly rolls the dime and ends back at 73.28, even if for just a tick.

Best Wishes,

Thales

[Dinerotrader]

SIM

+$655

Should have made like 60 more ticks on natural gas if i'd have managed the exits better. Good day.

[edabreu]

A few swing trades dragged down my PnL... Otherwise a good month. Too many trades.
My goal this year is to get my average trade up to $38, and reduce the number of trades.
So far I am realizing that my percentage may have to slip a bit in order to keep the bigger trade. We'll see.

[brownsfan019]

Originally Posted by thalestrader »

CL sure is a zippy little market, Brownie. I never realized how that thing can just roll thrrough ticks like it does. Its like trading the 6E during a news release, but it seems for CL, the quick ticking keeps right on rolling. I see a lot intraday gaps on the tick chart as well. They usually fill immediately, but I see many times where atrade will take place at, for example, 73.28, and the next print is 73.18, but price quickly rolls the dime and ends back at 73.28, even if for just a tick.

Best Wishes,

Thales

Yep, this little bugger moves. Anyone thinking of trading this should watch live, real-time charts first.