My method is : wait on these spikes and after them 1-2 hours you could trade ....
I got the same problem last winter I blow 9 demoaccounts on oil trading .
Now I wait , until the spikes come and set against them , but its very risky ...:-0
Better scalp at night or after the USA session , before is very dangerous , course
volatility could change extremly fast : 2fast4you + no orderfills + no stoplosses....
I get last friday 2 spikes cost me 250 pips , so I need 1 day to get back this losses.
Gold is the same horror : 30 - 60 $ moves = 300 - 600 pips long !!!
Take care , the bad spikes are everywere , stoplosses are given at the end of a spike !
Mostly conection fails and other mysterious things happends (programmhangs )
I trade only when volatility is low , that is more sure in my eyes the profit is higher
and the moves are slower , the fills are better ....
Have a nice spikefree day
I have been burnt a few times in the past intraday trading oil but it looks like a great vehicle for day trading due to the volatility. The problem is I trade mainly off SR and oil seems to overshoot SR areas by dramatic amounts. Any advice for intraday trading this commod.?
I use 3 or 4 timeframes usually for my trading...
