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Video blog: time to buy crude oil?

A look at current conditions in crude oil, and some general comments on how to fade a trend.

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AdamHGrimes

Adam Grimes has over two decades of experience in the industry as a trader, analyst and system developer. The author of a best-selling trading book, he has traded for his own account, for a top prop firm, and spent several years at the New York Mercantile Exchange. He focuses on the intersection of quantitative analysis and discretionary trading, and has a talent for teaching and helping traders find their own way in the market.

This Post Has 7 Comments

  1. Oleg 02/05/2015

    After watching TAAS course videos over and over again, I literally knew exactly where this video was going after the first couple of minutes 🙂 Cheers.

    1. Adam Grimes 02/05/2015

      Excellent… that means you are learning and I am being consistent. Good for both of us! 🙂

  2. Bart 02/05/2015

    The beauty of using Keltner channels on a price chart (as Adam does) is that they provide the trader with a consistent framework to make decisions from. And it doesn’t matter what the time- frame or market is being looked at. This means an intra-day prop trader can use the same methodology on a futures tick chart as he does when swing trading his personal account. And the more charts you look at the easier it becomes to identify setups, as the same ones repeat over and over.

    It also wonderfully liberating as the urge to constantly change charts no longer occurs … thus helping break the time-sucking beginners cycle that most traders often find themselves in their quest to become profitable.

    1. Adam Grimes 02/05/2015

      Thanks for this comment, Bart. Yes, you are right… I think it makes sense to pick a set of indicators and pretty much stick with them. You might want to have a few broad sets that you use in different situations (e.g., daytrading vs. longer term trading), but I’ve found that simple works for me, and I just use the same simple things over and over.

      There’s no holy grail.

  3. A_Joe 02/08/2015

    Nice One ! Thank You 🙂

  4. Steve 04/08/2015

    Hi Adam, Its now been 2 months since you posted your video on oil. Would you regard the close about 46.00 on the March 23 as a FAILURE TEST. I know its not the cleanest example but was interested in your thoughts. Also was/is there the beginnings of ANTI setup on April 02? Thanks.

    1. Adam Grimes 04/08/2015

      Hi Steve… the main point of the blog was that a change will have to be OBVIOUS. (Yes, “ALL CAPS” obvious lol!) I don’t think we’ve seen any obvious shifts yet…. so it’s just noise. Filter out the noise. Wait. That would be my read here.

      Don’t try too hard to force patterns.

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