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RA, what is the trend line you're referring to?

Do you, personally, do this on a regular basis? If you do, how often does it work in a given month of trading vs how many times do you end up scratching a day's potentially nice profits during wide ranges? Looking at charts after the fact, it's real easy to see where you can let CL run for...

Hooti, that was my thought exactly. When price tried twice to break break that higher low and couldn't even get to the low, time to bail and reconnoiter. No point in even waiting for another try. Strong support like that, especially at a higher low, is a long signal or maybe the new the...

BCE, thanks much for that entire post, just superb! I spoke with a trader today who asked me to point out a "perfect trade" on today's chart. I pointed out an early "high probability" short opportunity, including my stop loss price and the price where it would make sense to to add to the...

Thanks, BCE, very nice excerpt! The part above was quite interesting. I was triggered into a short position a couple weeks ago and price fell over 10 ticks my way right out of the gate and literally jumped back up above my entry price. My stop loss order was around 13 ticks and without...

Frank, your belief or disbelief cannot move the price of oil. If you controlled enough money to trade 1000's of contracts, you could say, "This thing can't continue up, it just sold off like crazy yesterday and overnight! I'm gonna crush those insane buyers!" :D So with our little trades we...

Thanks, and there have been many nice trades here lately, BTW, even though the counter-trend trades you guys sometimes take make my brain itch :p I get out too soon sometimes because I assume price doesn't have enough strength or weakness to do more. That's my fault for not trusting my...

My New Year Revolution is to capture at least ONE 100+-tick run this year! I will use the "See, NoDoji CAN Be A Greedy Pig" exit strategy :p OK, that was the tamest NYMEX close I've seen in a long time. Funny story: We look at 6E a while ago and say, "Wow euro's really dead." And I say...

I locked in 20 ticks after price broke 90.00, because this thing is volatile monster lately and 90.00 was likely a strong stop run level at that point after the massive move up. I could've locked in 30 ticks, but was willing to give it some room to run yet more because CL will do whatever you...

Don't discount the value of riding the potential test of 91.00. I just got 60 ticks long and likely left way too much on the table...

Friends don't let friends think and trade! I had a buy stop for a while @ 89.07 when that price was quite far away, and took it off as price got close to it because I THOUGHT the range would hold. So where did I finally go long after all that? 89.70 for 20 ticks out of a 99-tick move from my...

"Trade price not news", as well as "use hard stops and soft targets", was demonstrated to me when I was in a position, having totally forgotten the ADP news was due, and it ran right through my target zone. I got more than target but of course I covered way too soon :eek:

I'll front-run you, then. Limit to sell @ 89.20 :p :p :p

Crazy day for 5-min bar ranges. Certain bars would appear small on the chart, but when I checked the range every protective stop I placed seemed totally non-survivable, even with breakouts. The volatility was insane at times. I got a bit of slippage on 40% of my trade entries, which confirmed I...

Steve, thank you much for that. I've been discussing this with my mentor at length. I've just gotten to the point in the latter half of 2010, where I've learned some advanced setups, but what you illustrate is advanced trading. I want to get to where I build up confidence to trade this way. For...

Ha ha! Hooti's a quick study, what can I say.

If you enter trades by way of stop orders you'll always get a fill. The 6:25am PST bar in CL was a setup bar (pullback to the 20 EMA following a huge range breakout to the downside. The 6:30am PST bar was the trigger bar. Using a limit order to enter means you had to guess where the pivot would...

Absolutely! Eight winning shorts for me and out of my 3 longs, one winner and two losers. That tells the story. Shorting those lows is like taking candy from a baby.

Double bottom was a setup, 89.30 was the entry signal. I tried the first break, 3-tick loss, re-entered @ .31, took 20 ticks on the pullback from the 20 EMA. This is counter-trend scalping BTW, a true reversal, I'll hold longer.

For those who think too low to short, I just took 89.08 to 88.88 in a few seconds. No long signal in sight, boys.