CL Redux
- Thread starter schizo
- Start date
long .79
Good News and Bad News today.
Good News -
1) My commissions appear to be lower.
2) Lost all fear of trading CL, putting on 19 trades today without hesitation (clearly I was bubbling with enthusiasm over the lower commissions).
Bad News -
Broke all but one of my rules (I never once averaged down):
1) Didn't take all setups - Decided to forego a solid setup in pre-market and missed a 40+ tick move.
2) Overtrade/revenge trade - Tried to âget backâ what I missed by attempting to pick a top on what was clearly a reversal off lows.
3) Let nice profit turn into small profit - Finally caught the top of a move and instead of taking my $300 profit at the 20 MA, I let price move all the way back to stop me out for just a $60 gain. What was I thinking? You take profits at the 20 on counter-trend trades!
4) Blinded by bias - Got a short bias so stuck in my head I completely overlooked one of the best long signals there is: buyers coming in right on a rising 20 MA after only one push up off lows.
5) Didn't trust targets - Put on 2 lots (unconfirmed setup) and moved my initial stop, taking a loss, when leaving my initial stop and target in place wouldâve worked fine. However, that's not so bad. Put on 2 lots again, this time a CONFIRMED setup and STILL exited early for a very small profit, when leaving my initial target wouldâve netted over $500. Pissed around some more and then back in on a perfect confirmed setup and took $160 profit instead of allowing my $630 target to be lifted (price eventually went right through it).
Then I left the office in disgust and missed a spot on short setup good for 50+ ticks.
Thank you very much for listening to me whine. I think I need to call my trades and targets here live again, so y'all can yell at me a bit.
Net -$167 on the day and calling it.
Good News -
1) My commissions appear to be lower.
2) Lost all fear of trading CL, putting on 19 trades today without hesitation (clearly I was bubbling with enthusiasm over the lower commissions).
Bad News -
Broke all but one of my rules (I never once averaged down):
1) Didn't take all setups - Decided to forego a solid setup in pre-market and missed a 40+ tick move.
2) Overtrade/revenge trade - Tried to âget backâ what I missed by attempting to pick a top on what was clearly a reversal off lows.
3) Let nice profit turn into small profit - Finally caught the top of a move and instead of taking my $300 profit at the 20 MA, I let price move all the way back to stop me out for just a $60 gain. What was I thinking? You take profits at the 20 on counter-trend trades!
4) Blinded by bias - Got a short bias so stuck in my head I completely overlooked one of the best long signals there is: buyers coming in right on a rising 20 MA after only one push up off lows.
5) Didn't trust targets - Put on 2 lots (unconfirmed setup) and moved my initial stop, taking a loss, when leaving my initial stop and target in place wouldâve worked fine. However, that's not so bad. Put on 2 lots again, this time a CONFIRMED setup and STILL exited early for a very small profit, when leaving my initial target wouldâve netted over $500. Pissed around some more and then back in on a perfect confirmed setup and took $160 profit instead of allowing my $630 target to be lifted (price eventually went right through it).
Then I left the office in disgust and missed a spot on short setup good for 50+ ticks.
Thank you very much for listening to me whine. I think I need to call my trades and targets here live again, so y'all can yell at me a bit.
Net -$167 on the day and calling it.
-$ 190.00.............went o-4 during the first 3 1/2 hours of trading CL........and decided that "price action" was terrible.......and shutdown for the day......5 minutes after shutdown......a signal shows for +50 ticks....+$500.00........
......another signal popped up later........should have been a nice green day....instead here I am.......only positive thing to be said......."Nodogi" did not beat me so bad....like some of the days last week 
......another signal popped up later........should have been a nice green day....instead here I am.......only positive thing to be said......."Nodogi" did not beat me so bad....like some of the days last week 
Hey, Nodoji, I was waiting to get in around 85.00 saw spike at 85.07 and chased it and ended up getting long 15 ticks higher.
So I added another contract on retest, and since I had some fear since I now had 2 contracts, I took 1 out basically at BE of 2 contract price while allowing 2nd to only run for 10 ticks when I should have at least made 20 ticks for this trade and not chased instead I should have waited for a pullback or just let the trade pass me buy since my risk vs reward was extremely negative in that I think if market did not move correctly my stop would have been a loss of at least $ 300. However, still ended up $ 100 real money, and now playing the chop on es with sim money.
The problem I am having on CL is I see a price I want to go in at, and the market jumps 10 ticks before I can even place my order. I think I need to try to have my order in a little faster or before the move once I start thinking that I am looking to place an order.
Also, got lucky since my 1st order long of the day while it got stopped out, I found out I was actually in sim not in real money.
So I added another contract on retest, and since I had some fear since I now had 2 contracts, I took 1 out basically at BE of 2 contract price while allowing 2nd to only run for 10 ticks when I should have at least made 20 ticks for this trade and not chased instead I should have waited for a pullback or just let the trade pass me buy since my risk vs reward was extremely negative in that I think if market did not move correctly my stop would have been a loss of at least $ 300. However, still ended up $ 100 real money, and now playing the chop on es with sim money.
The problem I am having on CL is I see a price I want to go in at, and the market jumps 10 ticks before I can even place my order. I think I need to try to have my order in a little faster or before the move once I start thinking that I am looking to place an order.
Also, got lucky since my 1st order long of the day while it got stopped out, I found out I was actually in sim not in real money.
Quote from traderx123:
-$ 190.00.............went o-4 during the first 3 1/2 hours of trading CL........and decided that "price action" was terrible.......and shutdown for the day......5 minutes after shutdown......a signal shows for +50 ticks....+$500.00........
You decided the price action was terrible, and I pretty much ignored the price action. Truth be told, the price action was beautiful today, but trading CL requires vision, trust and patience. Fear of missing a move and being too impatient (to wait for confirmation and also to wait for target) cost me a lot today.
I think maybe austinp drops in on this thread, so I will blame him for my loss today, what with all that negative Nellie talk over on Corey's thread