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Price was overextended recently. You'll want to watch how it reacts around 1105-1110. If it finds support, it's a bargain with-trend entry.

What was with that bizarre price spike just before the claims news? (OK, OK, I know the answer: Buyers :D )

Definitely filter the "bad" ones, then trade ALL the good ones. Make sure you can describe your good setups in a way that you could code the rules into a program and automate it. If you can't tell me in about 5 minutes or less what your strategies are and what your rules are, chances are you'll...

It was 165 ticks, but keep in mind that today was a technically perfect day. How often do you get a day when price stages a failed breakout through previous resistance right off the NYMEX open after a four-push uptrend from overnight lows, and then produces a picture-perfect downtrend the rest...

At any given point in time, there is a trading opportunity, a chance to buy now and sell higher or sell now and buy lower. Price charts offer clues that help you decide which opportunity has a greater chance of succeeding, an entry zone that is more likely to offer a positive reward:risk ratio...

That is so cool! Thanks for the info. I've watched several of these moneyshow live trading sessions in the past and they are incredibly informative. I learned a LOT about patience in waiting for good trade entries and tight risk management from these live sessions.

It was a very compliant day, technically. Just really really good for my particular style of trading. The trade I exited @ 74.68 (off what appeared to be a failed b/o at the time), commenced to tank another 40+ ticks as soon as I covered.

Stopped b/e

sh 74.41 sl 74.52, tgt 20 ticks or better

Downtrend is still intact, though possible reversal zone with previous resistance of 74.37 being broken through. Look to go long a confirmed higher low, or short @ 74.30 with a tight stop. I'm calling it a day with CL!

Oh wait, I was putting 6 in the qty field! You mean IB was only filling 1! Darn! :) :D

And yours?

Most technically perfect day in a long time.

+5.25 I would've lowered my target had I seen emg's post :D

Don't worry I'm hedged. I bought the new high in CL.

sh 1132 will add @ 1145, tgt 1126.75

I trade CL and posted my trades here for quite a while. I'm just making a point that as a day trader you can make money both directions. emg calls these levels at which he plans to go long or short and target 1 pt profit and then price moves 5-10 pts to get to his entry price and he takes 1...

Those +8 and +12 short trades taste at least as sweet as the +3 longs. You should give it a try some time :cool:

I recommend that for 2 weeks you post your trades here. Post your entry in real time, as well as your stop loss and your profit target. Then post the end result of each trade once the trade is closed. If you can do this and demonstrate net profitability at the end of two weeks, then there's a...

I realize Boli trades AAPL, not futures, but it would be cool if he could post a chart of his trades for a day with setups, entries, targets and exits, because I used to trade AAPL and technically I think it trades similar to futures. Vee vant to peer inside your trader brain, Boli! :D