CL Redux

Quote from schizo:

Well, everything is s'posed to be nice and rosy in hindsight. Don't be too hard on yourself. There will always be yet another opportunity.

As for me, it looks like I'll be ending the day pretty much flat after ruffling all those feathers. However, today has been a good learning experience.
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It wasn't so much exiting b/e (there was a lot of buying strength at that point), but it was that spd said, "If the low @ 82.64 is taken out Id consider going short." and I had that same thought and then I watched price tick down and never pulled the trigger. It's like once price pulls a certain distance from a pivot zone, I start to feel that a survivable stop will have to be too wide, placing too much at risk. You guys are really good at trusting your signals. If nothing else, I'm really learning a lot here, and thanks again for all the live calls.
 
Quote from NoDoji:

It wasn't so much exiting b/e (there was a lot of buying strength at that point), but it was that spd said, "If the low @ 82.64 is taken out Id consider going short." and I had that same thought and then I watched price tick down and never pulled the trigger. It's like once price pulls a certain distance from a pivot zone, I start to feel that a survivable stop will have to be too wide, placing too much at risk. You guys are really good at trusting your signals. If nothing else, I'm really learning a lot here, and thanks again for all the live calls.
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But did you really expect the slide to be so severe once 82.64 was taken out? I didn't. The cynic within me tells me that it's the same asswipes (sorry for being so direct) who took the market up after the inventory number were behind the selloff. Anyway, it's no biggie. Just trade what you see on the chart.

BTW making money is one thing; learning how to control your loss is another. I believe the latter is far more important than the former. That is, you really can't make money unless you know how to (properly) lose money. Just my utterly worthless 2-cents.
 
Quote from millionaire7:

I see around 378k+ Apr contracts traded today.
Roughly what is the average daily volume on CL.
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My chart says that the average volume for CLJ0 since its inception is around 300K.

But what's interesting is that the intraday up volume closely matches the down volume, confirming my earlier belief that it's the same morons that bought on the way up who sold on the way down.
 
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