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So typical of you - a perfect price action entry off a trend line, waiting for confirmation via a break of the bar that touched the trend line, which tells you there are enough buyers who believe in the trend to keep it going there. What reason do you have for moving your stop before price tests...

You have no business day trading CL while holding down another job. I am 100% intensely focused with this thing, memorizing S/R levels in 4 time frames - 2 of those time frames being very dynamic - with no room for distractions or hesitation. I always thought the Holy Grail was a set of...

I know you're not a technical trader, but learning the basics of technical price action will keep you in the right direction on days like Tues and Wed. Tues the market moved up off the open and found resistance at Friday's low. Previous support became resistance and when it tried once more to...

You don't know when or where price will reverse, yet you believe you can control loss with proper sizing and entries. Why endure long term draw down and risk of ruin, when you can find just one high probability setup that involves minimal risk and produces good profit over time? I will...

Since I have a max stop, period, I consider it fixed. It can be smaller if that makes sense, but it won't be larger, so I consider it fixed. The important thing is that I increased my stop size a small amount, but I increased my minimum acceptable profit target by twice that amount. This has...

I achieved a very special honor today: I doubled the protective stop on a long trade today so I could reverse to a short if the support broke and, with slippage, sold the exact low tick. That's right, I was stopped out of a perfectly good long trade at a pivot low and automatically flipped...

"You don't need to know what is going to happen next in order to make money." - Mark Douglas You need to learn how to trade. Here is a very useful reference for learning basic high probability setups: http://www.daytradingcoach.com/daytrading-technicalanalysis-course.htm These...

Yeah I missed the long re-entry, not focusing like I did yesterday (though it would've been b/e because it didn't hit min .40 target - lol). Closing my distractions now before market opens; good trading to all!

Look at the 1-min, beautiful HL doji, buy the break for a test of the 96.72, then hold until you believe there is too much profit showing on your DOM :D

The trade I was talking about was 6:08-6:10 PST; but I also traded 7:05-7:10 PST short from 99.77. I too was trading off the 1-min chart, which has felt like trading off a 5-min chart this week in terms of price moves. In fact, I'd say half the time I'm checking the 1-min chart to get a quick...

If you miss the proper entry, wait for the next setup. Think about it: A bad entry reduces your potential profit and increases your potential loss. Why would you want to do that?

Meticulous study provided me with a fixed stop for my style of trading. What this "fixed stop" style of trading taught me was how to be patient in waiting for setups that allowed my fixed stop to survive. In other words, several conditions had to be met: Price had to present a valid setup and...

Hey, great minds think alike, I was short almost same time as you 99.79, out 99.21, but didn't it seem like an eternity (a good 2 or 3 minutes) waiting for the break through previous S and then those pesky buyers stepped in! :D

Ha ha! That reminded me of the Happy Fun Ball commercial, "Do not taunt happy fun ball." Which, come to think of it, should be the warning that pops up when you open a DOM to trade CL :p http://www.youtube.com/watch?v=7gzDC-2ZO8I

I am shocked that our own zxd would do such a thing :D

You need a 20-tick minimum stop and that's if you're using a 1-min chart. If 20- to 30-tick stops affect your trade management, don't trade CL now. Today I had a trade show me 38 ticks profit (2 ticks from my new min target of 40 ticks), then come back to 6 ticks profit before reversing back to...

Never in my wildest CL trading dreams did I think I would have the experience of locking in a 101-tick profit on a trade, then come back after barely a 10-min break and see that I left 140 ticks on the table (so far) :confused: This is a whole new normal, kids :eek:

When did you call your entry on this trade? I missed the entry call. BTW, for anyone interested: I'm using .20 stops, .40 minimum target now. I moved a stop to b/e earlier after 15 ticks in my favor, stopped out, re-entered at the same price and left my stop in place. Worked out fantastic...

Definitely in a strong trend, short a new low or buy a new high, BUT best is to be positioned in advance for the breakout. Your long trade was off a falling 20 EMA and although you saw the higher low, there was no higher high to confirm a trend reversal. It was a symmetrical triangle (I HATE...

You've seen "Professional driver on closed course. Do not attempt." disclaimers? CL is currently in that mode, only the course isn't closed :D If you didn't attain a decent mastery of CL during January's fresh post-holiday volatility, this isn't the environment to practice in with a live...