CL Redux

[NoDoji]

Oh sure, all the good stuff happens without me. Looks like my $86 gain holds for the day. I don't trade after the close, but maybe I will with all this action.

Blotter attached so cstfx could see the timing of my stops on the hope for a breakdown, combined with the fear it could bounce. I'm very careful shorting near lows in an overall bull market.

 

[schizo]

How many active ES traders are here?

I notice the damn thing made a double top today and is now getting its ass whipped by the bears, who will flee like cockroaches when there's even a slightest uproar by the bulls. So who thinks it will drop like a brick tomorrow?

 

[cstfx]

Quote from NoDoji:

Oh sure, all the good stuff happens without me. Looks like my $86 gain holds for the day. I don't trade after the close, but maybe I will with all this action.

Blotter attached so cstfx could see the timing of my stops on the hope for a breakdown, combined with the fear it could bounce. I'm very careful shorting near lows in an overall bull market.

so when near the lows, it's almost like a fill or kill policy

 

[cstfx]

Quote from cstfx:

short 8385 s/l 8415 target 8320

had better luck with fx today but -.70 on 2 crude trades.

It's a learning process.

 

[trader198]

the closing really neat from 84.15 to 83.42! my limit order is at 83.51, I should put it there, not kill it and take a break. will play natural gas tomorrow.

Quote from trader198:

play the closing, the neatest thing happens always in the closing. I hate to trade the middle ground, like the bottom and the top, those are fast money

 

[schizo]

Quote from NoDoji:

Oh sure, all the good stuff happens without me. Looks like my $86 gain holds for the day. I don't trade after the close, but maybe I will with all this action.

Blotter attached so cstfx could see the timing of my stops on the hope for a breakdown, combined with the fear it could bounce. I'm very careful shorting near lows in an overall bull market.

Since I had a lousy day myself, do you mind if I rip you apart? In truth, I'm merely using you to humiliate myself.

First, why did you bail out so early from your first trade? How many times have you openly admitted that the second mouse gets the cheese but the timid mouse often becomes the cheese herself? Why, geezus, you coulda rode this market all the way down to 82.91?

Second, didn't ya get my memo last night? Just look at those damn lines. It's a thing of beauty, no?

Third, you obviously thought the market would continue its death spiral. But considering that the market went into a free fall after the EIA report, what's the likelihood another steep drop would occur so soon? But, of all places, why did ya short at 83.23? Perhaps you were waiting for the price to initially drop below the Globex reaction low at 83.28. Well, ya got in too late girl.

Fourth, nice try on that last trade missy! Having seen both tail and wick on two previous 5m candles, you thought this trade was a no-brainer, didntcha? Well, so did I.

Lastly, why didntcha flip long when 83.67 was taken out?

Isn't hindsight analysis wonderful? It's just as potent as self-flagellation.

 

[trader198]

if in a bull market, better fill it!
if in a bear market, better kill it!

I think whether the general market or the crud are in the bull run status.

Quote from cstfx:

so when near the lows, it's almost like a fill or kill policy

 

[NoDoji]

Quote from cstfx:

so when near the lows, it's almost like a fill or kill policy

Yes, for me it is. I've seen successful breakouts and failed breakouts long enough to realize that it's going your way quickly or it's time to stop and reverse.

 

[NoDoji]

Quote from schizo:

Since I had a lousy day myself, do you mind if I rip you apart? In truth, I'm merely using you to humiliate myself.

First, why did you bail out so early from your first trade? How many times have you openly admitted that the second mouse gets the cheese but the timid mouse often becomes the cheese herself? Why, geezus, you coulda rode this market all the way down to 82.91?

Second, didn't ya get my memo last night? Just look at those damn lines. It's a thing of beauty, no?

Third, you obviously thought the market would continue its death spiral. But considering that the market went into a free fall after the EIA report, what's the likelihood another steep drop would occur so soon? But, of all places, why did ya short at 83.23? Perhaps you were waiting for the price to initially drop below the Globex reaction low at 83.28. Well, ya got in too late girl.

Fourth, nice try on that last trade missy! Having seen both tail and wick on two previous 5m candles, you thought this trade was a no-brainer, didntcha? Well, so did I.

Lastly, why didntcha flip long when 83.67 was taken out?

Isn't hindsight analysis wonderful? It's just as potent as self-flagellation.

First of all, you're being entirely too nice to me here.

That first trade my big mistake was not re-entering and covering prior to the news. I would've never rode it to 82.91 because I'd have held it thru the news to do that. Are you crazy??? (You don't have to answer that.)

The second trade I shorted way too late because I was smokin' POT (made some decent coin on POT today), and made the critical error of look away from CL for just a little while, but when I saw it falling, I wanted to catch a possible retest of the low, and maybe a breakdown to another low (I know, I know, typical bear porn dreams.)

That last trade I really thought might break down hard, but I wasn't about to give it a dime of my money when it diddled instead of breaking. Not at those levels.

And I already flogged myself 70 lashes (one per tick of lost profit), for seeing .67, posting here that I thought it was a sign of bullishness, and not trading the damn thing long because I thought the fundamentals of the news were too bearish. And I had that thought after posting on this very thread that we should be trading technicals, not fundamentals!

OK, so there!

I'm gonna have a +$15K day before this year is out.

 

[Gabfly1]

Quote from schizo:

...whenever the market rallies after the API number it goes down following the EIA number...

Could you please tell me very briefly what the API report represents, as compared to the EIA report, and when (day and time) it is released? You guys have got me eyeing CL, and I am only familiar with the weekly EIA report. Until your post, I didn't even know there was anything aside from the weekly EIA report as it relates to this market. I did a Google search, but it seems that all the "API" references I clicked on discuss the EIA report, which has a dizzying effect.