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Can you clarify what you mean by "posting your exit strategy (both the stop and the profit target) in the open"?

That really varies. This week was: Monday: 8 trades Tuesday: Very limited trading time, only 1 trade Wed: 5 trades Today: 6 trades With CL there's a lot more action throughout the day. Today I even put on a trade 1 min before NYMEX close and made $200 there.

I answered this on CL Redux thread: http://www.elitetrader.com/vb/showthread.php?s=&postid=2874334#post2874334

I sim traded it for many months and settled on some strategies that work really well for me. I also did (and still do) daily bar-by-bar review to pinpoint setups I missed and determine the likely outcome had I traded them. So I'm good at trading it because of the time I've put in. And I like...

I love trading CL better than anything I've traded.

Schizo & EON Kid, get your ass back to CL!

Yes, much better question. I've nearly 7000 hours into my 2 years, 4 months of trading.

This is my average with a $50K trading account and I'm ultra conservative and trade small size.

If by "consistent", you mean something resembling a predictable day-to-day P/L, I have but this to say: "Hahahahahahahahahahahahahaha!!!" :D

I'll take a look at ITRN. NLY payout is 80% but they're a REIT, so it should be very high. We haven't been in NLY for a couple years, but before that we were in it for years and years. I'm not sure how price acts around the dividend, but will find out quite soon as a .49/share div is coming...

Quite lately I've had a large number of my trades show a decent profit, come very close to my target, sometimes just a few ticks, then reverse to break even. I'm about to become a scalper again. $200 here and there all day adds up! Patiently trying to catch a big winner is producing diddly squat.

Careful, Sam, with this kind of talk around Geez. It's bad enough I asked a "size" question. :p This has always been one of my most highly recommended threads for anyone asking me about trading. I tell these people, check out this journal, see what happens when you a) trade with the trend or...

Your PPO looks solid. Are you trading it for fairly short term swings or as a longer term investment? I like WEN and am always surprised it hasn't done better. For my longer term portfolio, I've been working my way into some high dividend payers. NLY has rocked. I bought the dip after their...

I'm sure this has been addressed before, but I'm too lazy to search through the thread. Does the API report come out every Tuesday and does it have any major effect on the CL market? Or do traders/hedgers tend to rely on the Wed inventory report? Where can one find the API when it comes out?

NFLX keeps going up because people are buying it. People are buying it because it keeps going up. Some analyst firm just raised the price target to $190, which gave a whole new load of people permission to pay more than $120 for it :D

Mark, you make a very good point. If you asked me earlier this year, when many ES days ranged 10 pts, how much an ES trader should average per day, I would've said maybe a couple pts. If you asked me based on the price action on on May 7th how much an ES trader should average per day, I would've...

A trader on ET whom I consider my CL mentor told me to trade 1 contract and when I consistently could pull $10K a month out of it, then step up to 2 lots and learn to consistently pull $20K out of it, etc. (CL is very volatile, so I'm not sure what the equivalent monthly profit target would be...

Thanks, Prof. Interesting that your system bought an exact pivot low (1098.25) after a significant 3-push run from the open then left a lower high. That's a red flag for me if long or if contemplating an entry to the long side. As a discretionary trader (unless I was already still long...

Well...I mean...gee, it's not like I'm trading anything really, really, really heavy like GVA. I trade CL. It's light (like me), sweet (like me), and crude (hmmm...) :p True, true, true, true and true. You smoke??? You gotta stop that. Also, you gotta change your ways...

This is key. I, as well as the traders with whom I'm in daily communication, tend to sometimes exit profitable trades too soon when NO EXIT SIGNAL has yet set up. It's human nature, in an environment where time can take away gains, to grab the gains at the first sign of reversal. If you catch...