I had resistance level near this point too...
CL Redux
- Thread starter schizo
- Start date
I had resistance level near this point too...
Lol...Well you do seem to trade well. Whatever works!
I had some losing trades yesterday. Note to self don't over trade during a bank holiday.
Today much better. Woke up around 8 am PST. Took a scalp long for 10 ticks but could have gotten 20 - 25 ticks. In future if I trade during hours when the market is moving strong, I need to let winners run.
I was thinking about shorting at resistance, but trend was long so did not do that, and stopped watching the market. After the close, I checked back and saw that I would have been stopped out.
Around 3:10 pm PST (which is around 6:10 pm EST when CL reopens) was watching CL again. Saw that market during time when I don't trade due to overnight margin concerns sold off hard and was below where I previously went long. I took a long trade after a break above on green candle, but I think really I should have waited for my indicator to give me a bull sign, but I do feel that I was still trading with trend since during the day the market was strong. Also, ES after hours was still strong, and EURO did not crash and was not crashing.
I took about 5 ticks of heat similar to previous trade. I had a loose stop, which I started to tighten up after I saw that market was not able to make further new lows. As market finally started to make Higher Highs and go in my direction, I tightened stop to the point where even if I lost on this trade, it would not lose all of my profit for the day, though in truth I think it may be better to leave stop loss alone unless you are targeting 20 - 40 ticks, and then you could set it to BE, or trail it.
Market is pretty slow after hours, but it finally hit my target before I saw dinner time which is around 6 pm PST where I think market is extremely dead and choppy and not worth trading again. If you trade at night, I think you could start to look at market again at 11 pm PST.
This was again a scalping trade and it hit my profit target. My thought is that win or lose this would be the last trade for today. Goal is to no longer trade after 6 pm PST or trade the Euro unless I am in a chat room that I like where a better trader may call it out. Trading after 6 pm and the Euro just causes me to throw away good money.
CL did keep going up after it hit my target, but actually still pretty happy with the trade.
Today much better. Woke up around 8 am PST. Took a scalp long for 10 ticks but could have gotten 20 - 25 ticks. In future if I trade during hours when the market is moving strong, I need to let winners run.
I was thinking about shorting at resistance, but trend was long so did not do that, and stopped watching the market. After the close, I checked back and saw that I would have been stopped out.
Around 3:10 pm PST (which is around 6:10 pm EST when CL reopens) was watching CL again. Saw that market during time when I don't trade due to overnight margin concerns sold off hard and was below where I previously went long. I took a long trade after a break above on green candle, but I think really I should have waited for my indicator to give me a bull sign, but I do feel that I was still trading with trend since during the day the market was strong. Also, ES after hours was still strong, and EURO did not crash and was not crashing.
I took about 5 ticks of heat similar to previous trade. I had a loose stop, which I started to tighten up after I saw that market was not able to make further new lows. As market finally started to make Higher Highs and go in my direction, I tightened stop to the point where even if I lost on this trade, it would not lose all of my profit for the day, though in truth I think it may be better to leave stop loss alone unless you are targeting 20 - 40 ticks, and then you could set it to BE, or trail it.
Market is pretty slow after hours, but it finally hit my target before I saw dinner time which is around 6 pm PST where I think market is extremely dead and choppy and not worth trading again. If you trade at night, I think you could start to look at market again at 11 pm PST.
This was again a scalping trade and it hit my profit target. My thought is that win or lose this would be the last trade for today. Goal is to no longer trade after 6 pm PST or trade the Euro unless I am in a chat room that I like where a better trader may call it out. Trading after 6 pm and the Euro just causes me to throw away good money.
CL did keep going up after it hit my target, but actually still pretty happy with the trade.
crude looking kind of strong, feels like it might break out significantly
Quote from Reset:
Has anyone else noticed that IB commission for CL has gone up from $2.31 to $2.32.
Although it is 1 penny but still. I'm told that some regulatory fee is now 0.02 instead of 0.01.
I guess high oil prices to blame
Not only that the oil seems to have less viscosity lately; I've noticed more slippage.