Keep Calm and Don't Move Your Stops.....

A little risk management saves a lot of fan cleaning!

The Purpose of Life is Joy!!

Thursday, June 29, 2017

Bye Bye Bye CL????

My love affair, if you can call it that with CL is slowly but far more rapidly most recently , fading away. The beautiful moves it used to make every morning are slowly becoming a thing of history. In its place at least for the moment (am I becoming a player?) is NQ, It moves more or less like CL of old, has a smaller tick value which leads to better risk control and once in a while, a lot more size potential!

Today I made my first official NQ trade. Yes I had a couple earlier in the week just to test the waters but today I made it my priority instead of CL. Of course, I got stop ran with a subsequent nose dive to the target! But instead of cussing it out like I have been in the past, I just laughed and let it go. I did try to get a fill at resistance but it missed printing me by one tick before hitting the target zone.

This trade was a potential 110 tick trade per contract and I would have been at max size had I not been stopped out. I went in small with the intention of sizing up rapidly if it went in my favor but it one ticked me in and reversed to the stop and then reversed to target. Nice....

All that said, that trade felt better than most of the CL trades I've taken in the last few months. I like the way the tape moves, I like the trendiness of it, etc. So I think I will work with NQ as my primary instrument at least until it begins acting different. I think I held on to the idea of CL way to long. I might even look at some of the other not so obvious instruments to see how they move. After all, I'm not supposed to marry the thing, just trade it and I've been married to CL for to long now. I mean, NQ has moved 150 ticks and CL has barely ground out 20 or so in the last hour....please....


Oh, here's a chart and a video