Two P bar exits and a 6bbe in a row, could have been worse, but could it have been better?

#1

Hi,

I had three trades this AM on CL that were a bit discouraging, wondering if I could have prevented my loss any more than I already did. I’m glad the rules exist, but I want to make sure I am utilizing them in the most efficient way. Screencast below.

Any feedback would be much appreciated, I also hope this helps other by example.

Thanks!

Rob

2013-08-28_1607 - Doppelrock’s library

#2

You are misusing the 6bb rule. The 6 BB rule ONLY applies if there are less than 6 bars between the E and the X but you are applying i when there are clearly more than 6 bars between the e and the x.

The next thing is do you have a shot of the choppy market warning on oil using OIV on the 10 minute bars - it is very very helpful and could have prevented the losses in many cases.

Also i cant see the A on this screen so i don’t see the full view.

#3

other than the 6bb rule DM mentioned, isnt CL supposed to be 4 ticks? would these trades have shown? also, the velocity bar at appx 9:50am would have been the exit from what i see.

#4

Correct 4 ticks should be used on oil (see bar settings under elite menu)

Velocity bars kick in after the X