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schiz' better

sh @ 80.95 sl 81.12 EDIT: moved stop to b/e because counter-trend in the micro time frame

My intention was to focus strictly on CL today, but the range was so narrow in pre-market and the action so dismal after the open, that I decided to smoke POT again. I then saw CL breaking down and was waiting for a pullback to short it. It just kept falling and I just kept thinking it was...

If he entered while that was still a big blue candle, then not good. I assumed the entry was after the candle had started retracing and leaving a wick, and stop above the wick. Incnow, if you thought there might be another big up move, WHY DID YOU SHORT IN THE FIRST PLACE?

Yes, we have losing trades because we're actually trading.

Here's some advice from Mom (remember, mother is the inventor of necessity): 1) Determine a max daily loss and honor it no matter what. Mine is $500 on a $50K trading account (though I may modify that if I start trading oil in the live account). If I've blown $500 and the day's not even...

Gotcha. Etrade only shows earnings estimates for 2010 and says the P/E is 75. I don't think GMCR will be another CROX, but I do think a large correction lies ahead once the competitors remove market share. BBBY had a Cuisinart promotional video playing in the single-cup coffee section...

Here's my chart for the April contract with a 81.69 low. My DOM in the sim account matched the one in my live account exactly so I don't think there was an error on my end.

Wow, that was a low-risk entry zone (I assume you had a pretty close initial stop above the high of that spike). So what reason technically did you have for exiting where you did? None. No reason, because the ONLY reason to exit as quickly as you did would be if your stop above that pivot high...

OTC, that is inappropriate trading talk. The correct and professional thing to say is, "Please, God, pleeeease let my June ES short here see money again." :D

I'm not fighting anything. I don't trade GMCR. All that caffeine gives me the jitters. I prefer the mellow feeling that comes from trading POT :cool:

+$704 All trades done by 11:40 am. I guess this is what the youngsters call "wake-n-bake" :p Sim traded CL for just over $500, not bad considering I didn't even start trading it until nearly noon. Tomorrow I will very likely not trade live because I'm planning to focus exclusively on...

That's the only reason I'm not trading live yet. When I trade stocks my max loss is usually $40-$150. With 2 lots CL, my minimum loss is usually $200. If I can't learn to let the winners run further, I won't have the R:R needed to overcome a series of stop outs.

And I'd like to thank Sal for recommending QT, it's a dream to trade with!

Done with CL for today. Netted a little over $500 simbucks. On the last trade I had an initial target of 82.10 and it came very close at first, then I exited the remainder early because price appeared to be putting in support with a higher low from the previous bar's low (.14 vs .13). In...

Out remainder @ 82.22

moved stop just above high of previous bar (82.41)

Took off half @ 82.33

sl to b/e, not too crazy about these counter trend trades, but the whack-a-mole action above .50 looked good for a reversal.

sh again @ 82.46, sl @ 82.58