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Every one of my losing days trading CL was the result of either trading against the trend or not following my trading rules. Every single losing day. If you trade with the prevailing trend, use strong risk management and keep minimum profits at least a little larger than your average loss...

No, what I mean is that trading programs are programmed to try various price levels (previous bar highs/lows, previous pivot highs/lows, trend line touches, moving average touches, etc.) until they catch a level that holds. So if there's a clean channel, it's very likely that the channel lines...

Technically, you'd expect it to break upside off that lower channel line support. I hate it when I'm in a position and can't shift gears fast enough to reverse. If I hadn't been short, I would've jumped on a long off that line. Late in the day, my brain turns to mush... I didn't like the...

110.24 is a key daily level, if there's enough gas in the tank here into the close.

Second mouse lesson: See the break of the 1:45pm ET bar high? Price usually comes back to those pullback entry levels and gives you a second chance to get in. It pulled back to 109.50 if you had wanted to get long there and missed it. Not the most momentous of PA here into the close...

Yes I do move my stop early when key levels need to break. That lower channel line needed to break, which why I moved to b/e when it didn't HG, that was nice confirmed entry you took, BTW. I thought for sure it would break down more, but the bots are after us!

Stopped b/e, didn't reverse though, didn't want to buy resistance at the 20 EMA Wish I had bought the lower channel line :mad:

I cheated a little and got short @ .51 for a potential channel break, looks weaker than sh*t ADD: It would be expected to fly back up if this lower line holds.

109.45 a key support level for an upside continuation in this channel.

No it's "If you step in front of the truck, fend for yourself!" :D That 5-min trend line was golden today!

Don, LMAO! Seriously! I had just closed my 3rd scratch in a row, long, short, long in that Blah formation, really felt that one of 2 measured move targets was in play, 109.42 and 109.72, but had an appt to go to. The next long I would've tried was the no-heat clean breakout! Can't say I...

Take note, Fellow Traders: What we have right here, right now is the infamous "Blah" formation on the 5-min chart. I'm stepping away from my desk for an extended period of time.

You posted a live trade call in CL Redux and the full stop loss was hit. Then much later, without calling any other trades, you post the attached P/L on CL Redux showing $11K profit. Although this is not impossible to do on CL, especially on a day like today, the fact that you didn't call a...

I believe there are exceptions. I received a free weekly sample swing trade email from Pristine for over 6 months. They provided the setup (long or short) for a particular stock, the entry price trigger (buy if price rises above X or sell if price drops below X), the stop loss level, and an...

I nearly always use a 10-tick stop on breakout-style plays, because when they fail, they can fail really fast :eek:

I always ask myself the same thing. Thing is, if they fail, you can get out for such a small loss :)

I'd say you did it right! "Luck" would be if you played the breakout, the breakout failed, price reversed and broke the descending trend line for a huge move the other way, you had no stop in place and eventually price came back to let you out break even :p Triangles rock! Don't tell me...

Spot on, mcgene! I use a 5-min chart for the big picture setups and a 1-min chart for precision entries and tight protective stops. I also use the 1-min chart for scalping .20 profits in ranges and choppy price action. I would NEVER trade off a 1-min chart without a setup on the 5-min chart...

Yes. CL provides so many high probability opportunities each day that as long as you trade with the trend, or off confirmed trend reversal signals, and cut the losses early, even a few back-to-back losses can be recovered with the very next trade. (And that occasionally happens in choppy price...

"The hypothetical performance results displayed on this website are hypothetical results in that they represent trades made in a demonstration (“demo”) account. Trades placed in demo accounts are based on a Signal Provider having access to an unlimited amount of funds. As a result, demo...