CL Redux
- Thread starter schizo
- Start date
Breakout of S/R level is a safe ways to play CL with a small account that can't withstand averaging. You can scalp very fast gains even if it's nothing more than a stop run, and if it's a real breakout, you get more than expected.
As an example, the 12:25pm ET bar took you from 81.51 to 81.73 in about 2 minutes.
(Regarding Picaso's post, I believe that pictures of cute kittens/puppies are also allowed here.)
I still think long through tomorrow.
A good simulator can be like methadone. You too can have a 100% win rate and feel soo good.
Quote from jones247:
The enchanting allurement of rtm avg down... If I continue to follow your posts, I'll be drawn back into my addiction... Ohhh, the temptation is sooo seductive... Deja - how could you? It's like what Michael Corleone said: "Just when I thought I was out, they pull me back in!"...
SIM
I traded after a week long break.
net -$160
trades = 12.
Its very difficult to trade after a weeks break.
I traded after a week long break.
net -$160
trades = 12.
Its very difficult to trade after a weeks break.
Quote from jones247:
The enchanting allurement of rtm avg down... If I continue to follow your posts, I'll be drawn back into my addiction... Ohhh, the temptation is sooo seductive... Deja - how could you? It's like what Michael Corleone said: "Just when I thought I was out, they pull me back in!"...
If you have fixed ground rules to protect your capital, it's just one of many potentially profitable strategies. It's the ease with which people violate their rules with average-down strategies that makes it dangerous. Ammo averages all the time, but he has rules for entry, rules for exits and he sure seems to follow them from what I've seen.
I think if you have an overwhelming need to have a 100% win rate, it can be dangerous. If you have a personality that can accept losses and follow rules really well without exception, then the strategy seems no more dangerous than any other. The question to confront yourself with is, if you have $10K as a max loss on a trade and you're in a position with 8 contracts and price pushes the position $9,920 against you, are you really willing to accept the loss on the next tick against you? Do you have a hard stop loss at that level that you'll honor? Or will you hold because now price is REALLY overextended and is more likely now than ever before to return to the moving average.