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agnosia wrote:this market should be trading down right now, take a look at the RSI on the hourly.. it is screaming DROP.. but there is a huge bidder down 1311-1312... i am covering my short. i believe the selling will happen after the market closes in the futures market...
interesting, thanks.. that happens all the time in the after hours with thin markets.... a mysterious bidder comes in to show 3x normal volume for support then is pulled right before it gets there. very annoying not being able to rely on L2bbc wrote:agnosia wrote:this market should be trading down right now, take a look at the RSI on the hourly.. it is screaming DROP.. but there is a huge bidder down 1311-1312... i am covering my short. i believe the selling will happen after the market closes in the futures market...
don't take *huge bidder* seriously. it's more often *bait and switch* Most likely an AOC, IOC order from HFT.
I play CL too, shorted around 100 last friday, too scared to have them covered around 99.30. It happened on me a lot. I shorted at 114 level, covered 2 hours before the -15% show, and 110 level, each time I didn't have guts to let profit run, it's too volatile for me to endure.agnosia wrote:interesting, thanks.. that happens all the time in the after hours with thin markets.... a mysterious bidder comes in to show 3x normal volume for support then is pulled right before it gets there. very annoying not being able to rely on L2bbc wrote:agnosia wrote:this market should be trading down right now, take a look at the RSI on the hourly.. it is screaming DROP.. but there is a huge bidder down 1311-1312... i am covering my short. i believe the selling will happen after the market closes in the futures market...
don't take *huge bidder* seriously. it's more often *bait and switch* Most likely an AOC, IOC order from HFT.
i am short crude 98.83, the touch of the 10ema on the hourly. stop at even.
L2 is informative, but only for those HFT players, especially market maker type, For retailers, it's less and less informative for highly liquid products now asagnosia wrote:interesting, thanks.. that happens all the time in the after hours with thin markets.... a mysterious bidder comes in to show 3x normal volume for support then is pulled right before it gets there. very annoying not being able to rely on L2bbc wrote:agnosia wrote:this market should be trading down right now, take a look at the RSI on the hourly.. it is screaming DROP.. but there is a huge bidder down 1311-1312... i am covering my short. i believe the selling will happen after the market closes in the futures market...
don't take *huge bidder* seriously. it's more often *bait and switch* Most likely an AOC, IOC order from HFT.
i am short crude 98.83, the touch of the 10ema on the hourly. stop at even.
alvian33 wrote:cobra any thoughts on the market so far?
yeah there is too much liquidity floating around to short the market with success these days and i rarely do it. for the most part i play it from the long side and use 2 contracts that way i can take 1 off when i made a little money and let the other one run, keeping the other at break even. mostly playing breakouts like you say.bbc wrote:
I play CL too, shorted around 100 last friday, too scared to have them covered around 99.30. It happened on me a lot. I shorted at 114 level, covered 2 hours before the -15% show, and 110 level, each time I didn't have guts to let profit run, it's too volatile for me to endure.
I won and lose on CL, one of the simple strategies is to limit sell short 3-5 ticks below critical integer level. In a lot of cases, the momentum is strong close to that level, you can catch like 30 ticks or so safely. I often set stop at 10 ticks above that level in case the market hesitate.
BO works well on most commodities, as it tends to have huge momentum than stocks.
agnosia wrote:yeah there is too much liquidity floating around to short the market with success these days and i rarely do it. for the most part i play it from the long side and use 2 contracts that way i can take 1 off when i made a little money and let the other one run, keeping the other at break even. mostly playing breakouts like you say.bbc wrote:
I play CL too, shorted around 100 last friday, too scared to have them covered around 99.30. It happened on me a lot. I shorted at 114 level, covered 2 hours before the -15% show, and 110 level, each time I didn't have guts to let profit run, it's too volatile for me to endure.
I won and lose on CL, one of the simple strategies is to limit sell short 3-5 ticks below critical integer level. In a lot of cases, the momentum is strong close to that level, you can catch like 30 ticks or so safely. I often set stop at 10 ticks above that level in case the market hesitate.
BO works well on most commodities, as it tends to have huge momentum than stocks.
i make 90% of my money trading crude... i use very big stops on my swing trades. up to 1-2... that has helped me become better trading crude.
damn too bad you missed that show, it would have been great for you but i get why u covered...
yeah to be honest i break even on my scalp trades and make all my money with my swings. i scalp for intra-day fun it is hard to compete against the bots and phd's for scalping these days IMO.bbc wrote:
I guess for swing 1-2 is fine, but for me, I once used booktrader of IB without anything else, traded back and forth 20 rounds within 5 minutes.
I guess swing is better, DT is so tiresome.