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This is a key problem, the fact that you believe you can predict a chop day vs a trend day vs a wide range day. At any time anything can happen and you take valid setups when they present themselves and manage them according to your rules. There is rarely an entire day composed of chop or an...

If you want to trade a volatile instrument like CL live, you have to learn to trade with an edge, with strong risk management, and learn to let winners run so the chop days are meaningless in the larger scheme of things. You can't trade based on what "seems" to be so. You need hard...

This prayer used to work if offered along with this one: "Dear God, if you can just get me out of this, I'll never ever EVER do that again, AND I promise to [exercise every day, quit smoking, quit drinking, quit throwing my keyboard at the dog, go to church every week for the rest of my...

Ten losers in a row! I'm due for a winner! I'm going in with size to recover the loss.

Very nice! I normally stop and reverse when channels hold, but it's an up channel and I prefer to position with the trend. I'm calling it a day, folks, catch the BIG ONE, or scalp the channel 10 times!

This is the kind of price action that turns you into a scalper, causing you to scalp 15 ticks on the position that turns out to be the REAL breakout and runs 60+ ticks without you :p (I have SO been there)

You can tell we're trading a flat 20 bar EMA when we're long and short at the same time :D ADD: If I hadn't stepped away from my desk, my long entry signal would've been 89.19 to the top of the channel and then hopefully a breakout (which I had hoped to catch on my late long entry).

Scratched based on a total lack of exuberance.

Long .45, stp .35, tgt .75

I really am stepping away from my desk now. Enjoy the breakout.

Yeah right. Buyers will just step in to create a break even trade for everyone who thought this was the real triangle break :p

This is absolute no-man's land. I hate mid-day triangles. If anyone's as bored as me right now, let's discuss triangle breakout strategies. I personally prefer to play a breakout of the widest part of the triangle. To me, this demonstrates true buying/selling strength. I have no idea how to play...

Right, each time a S/R level is visited and holds, it reduces the demand/supply at that level. At least I think that's the theory behind triple top/bottom breakouts being so powerful. Careful, BCE, with that Tony Orlando and Dawn stuff. This the OIL thread, not the SUGAR thread!

I agree totally. I still micromanage too much and have to constantly remind myself of my profit target and why I had that target in the first place. I always want to lock in 20 ticks profit right away and have to smack my hand sometimes :p One of my best individual trades happened when we...

They're basically mobile S/R levels that can be helpful keeping you in a good trade more than anything else, IMHO. The 20 on the 5-min chart is also a great way to identify breakout entries on bull trap/bear trap trades. I guess my daily chart 50 day EMA is weird, because I show it just under...

Very cool! Here is my "hot trading tip" for you: Be patient for your profit targets, sometimes this thing dances all over the place before it gets there! :eek:

Someone PM'd me about why I never mention the 50 day MA. I never looked at it before, but I see that it's being seriously defended today. Is this because of OPEX? This 89.00 level is holding like a basement floor. Seems like buy every dip, counter-trend moves are as good as the trending moves.

OK, sorry, misunderstanding on my part. I was confused about the timing. I didn't notice you held it down to that .30 level. I thought you moved the stop right away. Here's a tip: Price tends to test each support level on the way back down from a potential trend reversal (price had reversed...

Rock solid short entry, but why did you move your stop to b/e so fast? Price went to your initial target. I covered my position @ 89.38 on the pivot, but was short earlier than you. I always wait till at least 10 ticks in my favor before moving my stop to b/e. I got tired of getting stopped out...

Levels are visible on any chart, so anyone can "pick" them. Levels are a previous price bar's high/low, a previous price bar's open/close, a pivot high/low, yesterday's high/low, last month's high/low, a 52-week high/low, the outer boundaries of a range, the outer boundaries of a channel, a...