First Report from the Trenches

[MichelGJulien 10]

Today was the official launch of my crude oil trading room. It was really great to see that many people interested to "watch" me trade live and hear my comments. The market was not very cooperative though today for my first day in the room as it was mainly choppy and going sideways all day long. To add a little bit of suspense to my inauguration, my first trade in front of everybody present in the room was a losing trade (gulp..) . Thank God, I was able to come back from behind and score a couple of goals later in the game :-0

 

Looks like we are going to get a 5th consecutive red daily bar today

 

Technically today, like I said, market was choppy and trendless. It opened at 94.44, i.e. below and outside Friday's range and value area. The initial balance registered at 60 ticks, or a good 15% below its 10-day average. Often, when the IB average is in that range, volatility increases later on in the session. But it was obviously not the case today. All in all a quiet Monday that gave bears and bulls a rest from the frantic activity of last week. For tomorrow, my feeling is we get a little bit more of the same consolidation but with a slight bullish bias. But don't get me wrong here, the bears are still in total control and are probably just hiding around the corner ready to give bulls another blow, this time possibly down to 92. Wait and see as usual.

 

We took 3 trades today:

 

1. Long 94.84 at 10:32am, exit 94.75 at 10:52am for a -9 ticks loss.

2. Short 94.66 at 11:18am, exit 94.45 at 11:34am for a +21 ticks profit.

3. Long 94.68 at 1:01pm, exit 94.77 at 1:06pm for a +9 ticks profit. Result: +21 ticks today

[JamesBrrando 10]

3 day bounce on daily, looks like short the high on wednesday, then down to 92.00

[BlueHorseshoe 10]

We took 3 trades today:

 

1. Long 94.84 at 10:32am, exit 94.75 at 10:52am for a -9 ticks loss.

2. Short 94.66 at 11:18am, exit 94.45 at 11:34am for a +21 ticks profit.

3. Long 94.68 at 1:01pm, exit 94.77 at 1:06pm for a +9 ticks profit. Result: +21 ticks today

 

Hi Michel,

 

For your posts to have much relevance to TL readers you'll probably need to give more information about what you're doing and why. This needn't be real-time (that's what your room is for), but other than that you were long twice and short once today, nobody can really see how you're trading.

 

Unless you do this your posts are just going to appear as adverts for your fee services, and that will tend to attract unpleasantness from people.

 

You might find it is worth glancing at the Electronic Local blog over here:

 

ElectronicLocal

 

Despite the fact that EL has described his methodology in considerable detail over the years, he is still able to attract seminar attendees at $5000 per time, plus whatever else he does in terms of DVDs and tuition - pretty much proof that giving away some free information can be beneficial to sales of your paid for product.

 

Hope that's helpful,

 

BlueHorseshoe