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Only one CL trade today after the inventories (POT was trading so clean this morning that I just had to smoke it). My trade was based on the above price action. After a lower high was put in by way of the 10:40-10:45am bars, I watched the price action around the 20 EMA. The 11:05am bar...

From trading live for less than 2 months (but sim for several months before that), here are my insights so far: CL trades highly technical except around news releases. So here are the high probability setups I've found: Breakouts: Watch for a strong break out of consolidation (8:10am bar...

Those strong moves normally happen in the direction of the trend, so you're most at risk for slippage like that in a counter-trend trade, unless you've had a 3rd or 4th really strong push in the trend, then the reversals can be just as violent (leaving the those wick-ed dojis at the top/bottom)...

I think the PPT was charged with preventing that from happening :D

Hi mabenn, very nice trading today. Sorry about that last one, what a move. Something I've noticed is that once a trend reversal signal is put in (which you took advantage of on the double-top) and a 5-min bar closes below the 20-bar EMA (10:05am bar), expect an overshoot of the lower Keltner...

My first year was very bad. I started as a total noob netting over $40K in about 2 months (blotter attached). I then commenced to lose that $40K and significantly more because I maintained a bull market attitude after the trend was no longer my friend. I had a slew of back month options that...

Heech, I don't remember the name of it. It was linked to from something else here I was reading, so I just clicked the link and paid no attention to the title of the thread. However, one guy was down $2 million and ended the day "only" down a million I think. The whole "surprise news...

Have you done any analysis on your trades to determine if leaving your initial stop in place and bracketing a wider profit target and leaving the trade alone until one or the other is reached would net you more profit? I found that I was very often leaving 2x or 3x more on the table than...

With a little help from Wiki, here's our 12-Step Trading Plan for tomorrow, guys: 1. We admitted we were powerless over the market - that our trades had become unmanageable. 2. Came to believe that a Power greater than ourselves could restore us to sanity. 3. Made a decision to turn our...

Scaling out. There will come a time when I should trade 5 lots. That time is not now. I need a lot more experience and risk capital IMHO. First 5-lot trade I posted, Blotto warned me it was beyind my exp level. Schiz told me size up slowly over time upon proving myself with steady results. Then...

Very nice! I think giving more room is beneficial. If I'd not been so nervous about stop placement early on, I would've never had early losses. I should've just placed my initial stop above the pre-market lower high and left it at that. All ended well though with persistence and...

I covered my P/L @ -$288 this morning to avoid undue negative influence :D It worked by the way... On that note, I'd like to add that I'm back to trading 1-2 lots now. I had some 5-lot days not long ago and started sim trading 10 and 15 lots with visions of grandeur in my mind. Last...

I thought it was "too low" to short the runs up later today and kept waiting for "confirmation, and missing the moves. Then I was pissed and I put on a "I'm pissed" trade, shorting a damn run down near the bottom and still got 25 ticks out of it! EDIT, that would be confirmation of a long I...

First mouse got the cheese shorting that last push up. I waited for confirmation by way of a bounce off the 20 EMA and it sliced right through. The setup was my counter-trend bar count from breakout through previous resistance (prev R @ 73.94), 4-bar push (I usually watch for 3), stall and...

Vol, these guys are harsh! :p Question for emg: Do you trade cattle/beans similar to your ES strategy (counter-trend)?

OK, figured it out. It was a measured move down almost to the tick. Previous move was from pivot high 75.24 to pivot low 74.07; most recent move was from 74.59 pivot high to 73.38 pivot low. 117-tick move followed by 121-tick move.

Thanks, repeated my target strategy, targeting 73.87 this time (20 ticks below previous pivot low) and left almost 50 ticks on the table. :eek: Where the hell did THAT move come from???

I joked yesterday about putting on a trade and leaving for an hour. Today I did it. I churned my way to -$288 (not waiting for a proper entry signal), then got a proper entry signal, put on the trade (late because I was hemming and hawing about where to place a stop this time), put the f-ing...

So it wasn't just me... "[CL] would've worked out REALLY well if I put on the first trade and then closed my eyes for an hour. But I have this irrational compelling urge to watch my trades and today was not a "watch your CL trade" kind of day. All watching did was make me take a tiny profit...

I thought I was da bomb when I shorted POT @ 101.63 off the lower high, stop @ .83, profit target 100.76, lifted .12 cents from the pivot low. I was all full of myself and figured support was in for POT and I'd watch it later for a long entry. So instead of letting POT basically throw money...