Short 83.98 (edited to 98 from 93, my mistake)
Probably try to get out if the low gets tested.
Probably try to get out if the low gets tested.
CL Redux
- Thread starter schizo
- Start date
out 83.88
decided going for a more aggressive short at this level was risky. even though we're off the bottom a clip and showing good downward momentum, price feels a little extended to the downside to risk a longer short position.
decided going for a more aggressive short at this level was risky. even though we're off the bottom a clip and showing good downward momentum, price feels a little extended to the downside to risk a longer short position.
Long 83.84
Stop 83.60 ( i will scale in more if we get near there)
PT 84.50
Stop 83.60 ( i will scale in more if we get near there)
PT 84.50
It's so easy... that you only lost $167... Please don't become like the bighog...
"These are the major moves today that were confirmed. If you capture 50% of each move, there's a good day's pay. I will consider myself a real professional when I can do that consistently."
IMHO if you capture 50% of ONE of those moves, everyday, consistently, and avoid the 1001 death traps and break even on the rest of the moves, at the same time, you can consider yourself the Queen of Diamonds.
It is just far too easy to count tics and points in hindsight. The big paradox is how something that looks so easy is, in reality, much harder. (I didn't say impossible...but what you described is as close to impossible as it gets.)... Come on...catch 50% of every major swing...not even the bighog...
last posting, since I shorted it at 84.98 and gained something, felt better.
whatever, nodoji said I am gambling. I admit: I am gambling. the only thing between a person who gamble for a living and a person who gamble for entertainment is the former may be gambling so called professionally (he has his own rules and plans, he knows how he manage every bets , not gamble all his asset on it and lose all). I really do not know what will be next tick, if I know, I will be rich instantly.
like this morning, I saw 83.55~83.575, I liked it, feel it is temprary low price, bought it, but I do not know where it will shoot/drop after 10 minutes, I do not know. if I know, I should bet all my account on that. after fact is no brain. so basically I am gambling, yes it is. just I try to gamble professionally.
whatever, nodoji said I am gambling. I admit: I am gambling. the only thing between a person who gamble for a living and a person who gamble for entertainment is the former may be gambling so called professionally (he has his own rules and plans, he knows how he manage every bets , not gamble all his asset on it and lose all). I really do not know what will be next tick, if I know, I will be rich instantly.
like this morning, I saw 83.55~83.575, I liked it, feel it is temprary low price, bought it, but I do not know where it will shoot/drop after 10 minutes, I do not know. if I know, I should bet all my account on that. after fact is no brain. so basically I am gambling, yes it is. just I try to gamble professionally.
Can you explain how you are using fundamentals in the current environment?
We are expected to have a build in oil for the 11th straight week - the longest weekly streak in over 5 years. During a global recession we have historic levels of inventory with low demand but rising prices. Even the OPEC leaders are saying the price of oil is way ahead of fundamentals.
In my humble opinion, and I am by no means an expert, the fundamentals of oil defy logic. The only way to play the fundamentals is with very deep pockets and and even larger threshold for pain.
as always, just my 2¢
Quote from F112358:
It's so easy... that you only lost $167... Please don't become like the bighog...
"These are the major moves today that were confirmed. If you capture 50% of each move, there's a good day's pay. I will consider myself a real professional when I can do that consistently."
IMHO if you capture 50% of ONE of those moves, everyday, consistently, and avoid the 1001 death traps and break even on the rest of the moves, at the same time, you can consider yourself the Queen of Diamonds.
It is just far too easy to count tics and points in hindsight. The big paradox is how something that looks so easy is, in reality, much harder. (I didn't say impossible...but what you described is as close to impossible as it gets.)... Come on...catch 50% of every major swing...not even the bighog...
I didn't say it was easy, I was just pointing out trading setups whose future moves are confirmed by the price action (which in a nutshell is "if it doesn't keep going up, it will go down" (and vice versa).
198 said there is no confirmation in the market. I wasn't implying setups never fail, but certain setups are good 70-80% of the time and I call that confirmation.
If I was trading all my setups and trusting my targets on the trades instead trading as if I know something the market doesn't, then I wouldn't be a noob any more and I would very likely capture 50% of at least a couple moves a day. I got to where I was doing that pretty consistently with stocks. CL is like trading 5 times the size I was trading with stocks, so I need to make the mental shift.
