Morning Pipsters,

I have been following with some interest the recent posts, in particular on the Black Beast. It is one of my favourites to trade and my focus is WTI and not Brent. My comment / advice to all pipsters is beware and tread with caution. It may seem like its an easy play with fellow pipsters seemingly making barrels of pips, but its volatile, moves rapidly often counter to the trend and generall if you want to play you need a relatively large stop. If you think 30 is too many to risk then don't trade the Black One. I tend to trade with a 100 pip s/l and my last trade which I posted was over 150 pips s/l.

The upside is that the rewards are excellent and you can make serious pips each and every day. But have your rules and stick to them.

My personal trading approach is based on 60m and 15m direction and having the MA's close together. It happens so you have to be patient and wait for the set up. Next entry I use 5m chart and a very specific criteria.

1. Good price action i.e. you can see bid and offer moving
2. MA's in the right order with 5,20 and 34 lined up for upside or downside
3. 63 CCI this needs to be between +50 and +100 for a long or for a short the reverse at -50 to -100.
4. I have both 10 and 4 cci on my 5m chart. The ideal is that the triggers cross together i.e. 4 and 10 cross the 0/0 simultaneously. I find the 4CCI can be a bit willow the wisp and move before the move is ready to fire off, and can get you in to the trade too early. My 4/10 combo helps reduce this.
5. Stop loss - get it out of the way. Remember not just the last candle if you use this approach, but your spread too and add it on. You'll be surprised how often the price action closes in on stops within 50 pips. Be warned!
6. Entry and exit - Measured risk and only trade what you can afford to lose. Too much leverage and your heart will stop! Put on a small stake and sit back and relax and either use limit to collect pips or be controlled and do it yourself at a specific target. Be controlled and don't get greedy. What goes up comes down with surprising speed.

Apart from that a great product to trade and something I think other pipsters will also enjoy trading.

Not commenting specifically but Nicola was kind enough to post her trade. As she says she jumped in. Brave. The reality be patient and wait for the right set-up. The 1-2-3 came and was a safe play for 50 pips. But please study the charts and look for the set-up I mentioned above. It works but you have to be patient. Dive in at your peril.

Happy hunting.

Eco Rockie