CL Redux

[schizo]

Was EIA released today? The reaction seems too damn tame.

 

[schizo]

Quote from NoDoji:

That's a strong advantage of a hard stop, and the stronger your opinion of where price will go, the more important it is to have a hard stop, IMHO, because there's nothing worse than price turning against your opinion in a big way and there you are without a real plan.

Yes, very good point indeed.

 

[trader198]

that is true. in the morning, I missed the overnight bounce, then I drawed my trendline, I thought it will bounce from trendline (my subcosious is the missed opportunity, what a fool I am), but I put a hard stop loss there, trailed a little bit. if I hold through the trade, I may be forced to do averaging down (I do not want to give up the loss, it is so big, I can not take it!). if that happens, like today's move, if I lost mind, plus the report is due and created lots of uncertainty, easily I will make a big mess, like last time 4k, I doubted it may be 10k+/20k down to the tunnel since my account allows me to trade more than 20lots now.

yes, the stronger the view, the stronger the opposite moves.

Quote from NoDoji:

That's a strong advantage of a hard stop, and the stronger your opinion of where price will go, the more important it is to have a hard stop, IMHO, because there's nothing worse than price turning against your opinion in a big way and there you are without a real plan.

 

[EON Kid]

Quote from schizo:

Was EIA released today? The reaction seems too damn tame.

yep

 

[NoDoji]

long 80.82, stop to b/e target breakout

 

[NoDoji]

Quote from NoDoji:

long 80.82, stop to b/e target breakout

Half off @ .93, didn't like the failure of that breakout to follow thru hard

 

[ChkitOut]

Quote from NoDoji:

long 80.82, stop to b/e target breakout

nice , so how do you set your profit objective on a BO?

 

[NoDoji]

Quote from NoDoji:

Half off @ .93, didn't like the failure of that breakout to follow thru hard

Out remainder 81.20, oops used the 3-min chart for next R level instead of the 5-min!

 

[EON Kid]

Quote from EON Kid:

Long 79.19 .25 stop trgt 83+

Exit 81.35


hopefully pick it up again lower for the afternoon run

 

[NoDoji]

Quote from ChkitOut:

nice , so how do you set your profit objective on a BO?

Normally I look for test of next S/R level in line, in this case I was looking at my 3-min chart and next R was .21. 5-min chart, next R was .40 which is where I'd normally target had I been paying better attention!

The initial attempt was failed b/o which is why I took some off the table right away. Then we had the Al Brooks "failed failure" providing short fuel for the follow thru.