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Say "Never".

Volatile PA today. Focus on your charts and your plan, Y. Careful not to get lured into the DOM casino.

Outcome bias.

Yukoner, there's a detachment to disciplined trading. It's like pushing buttons and flipping switches in a certain order day after day because that's how the machines start running and printing money over time. You have to buy ink for the machines and pay the electric bill (losses), but the...

I see you're still searching for the Holy Grail of perfection. When things are happening subconsciously, k p, you're not aware of them. Have you considered that subconsciously you love the thrill of the quest (the after-the-fact chart analyses where everything that works pops out at you and...

If you have $1000 profitable days on a regular basis, then a $1000 loss limit makes sense. If you have much smaller profitable days, then a smaller loss limit makes sense. That said, a lot depends on your trading plan and the combination of win % and R:R. For example, if you have $500 days 60%...

In my opinion, in a "good" chat room (a chat room with disciplined consistently profitable traders), I doubt anyone would say "don't do this or that, Apprentice". They'd more likely say things like, "We're approaching a key support level. I'll be looking to go long if a 1-2-3 sets up on the...

Yes, the daily chart. And it would definitely be a CT trade, based on a reversal setup. The trend is down and this could be just another consolidation before the next leg down, as we saw in September. We never know what will happen next; that what stops are for. Unless you have unlimited...

We had a break with conviction of the previous swing high. I don't swing trade CL, but if I did, I'd be watching for a long entry off a pullback.

Although the TL breakout looks excellent, there is no completed reversal signal yet (previous swing high has not yet broken with conviction).

What's your time frame for that question? :D

Let's see what happens if we get to 51.27...could be another repeat of September. Goldman Sachs just recently predicted $39 oil when we were at $43 something and they've been a notoriously solid fade when making calls at major multi month highs and lows

First break of the down trend line in CL since the September consolidation range. Loving this volatility!

It's usually true break even, occasionally a tick or two loss, occasionally a tick or two gain. I prefer to get out with a limit order at B/E when a trade thesis is invalidated. So for example I enter with-trend on a pullback and price breaks down prior to testing the previous high or low...

That was a great idea for measured move. I've found that if a breakout has legs it rarely if ever falls back below the breakout level by much. If that happens, I look to place limit order close to break even to exit. Regarding chop, here's how I manage to navigate potentially choppy terrain...

Jas, my break even stop strategies are based on statistical analyses of price movement. I have many spreadsheets tracking trade results with and without B/E stop management for every strategy I trade. I found that overall the results are better without the B/E management but only by a small...

I realized later that you're question wasn't about when to exit, but when the trade is invalid. I can't help you there, because of the timing of your entry. I'd have waited longer before shorting.

Yeah, just like that :D

For me, the round number area is strong defense level in general and if price tried to break more than once and failed, I'd consider taking profit. On the 1-min you can see a failed flag pattern around 9:45 - 9:50. That's usually good for decent counter-run and possible reversal.

Heck, I learned to take turns in kindergarten!