That may well be, but I don't use profit targets because I don't find them meaningful. I exit, reduce or add depending on predefined price action. I can predefine what I look for, but I cannot predict if or when it will happen. Other people chiming in could well result in spontaneous combustion. And we are dealing with flammables after all...Quote from NoDoji:
...I think in the long run it's helpful to me because once I put my trade on the table, I hear the voices of Schiz, F11 and EON telling me to allow my targets to play out and not trail a damn 10-tick stop too quickly.
CL Redux
- Thread starter schizo
- Start date
I have only recently started looking at CL. Would someone please let me know if there are any other markets that I should watch along with CL? Thank you.
Used to correlate the eur/usd but not for the past few months. Now it tracks the stock indexes to some degree
Recently, I've been noticing that it's slowly diverging from the stock market. But it's sickening to see how they could prop up the stock market for this long without any repercussion from the inflation front.
At any rate, looks like we're gonna be getting tomorrow what we were supposed to have gotten today. 81.50-82.00 should be a no-brainer.
none of other markets should be watched if you trade CL.
often I thought the equity index is correlated with crude, I am basically trading the equity index, while not crude, I get hurt. so in my screen, I just keep crude on the screen, who cares about the equity index or currency markets, those are other markets.
I learned this lesson. Never thought they are correlated. treat them uniquely. otherwise, when you see the equity index is shooting, you will automatically think the crude will shoot, actually sometimes do, but not really. if I see crude is dropping, I will short even the equity market or whatever market such as the currency is dipping.
no distractions, just the focus, is the best.
less is the best
often I thought the equity index is correlated with crude, I am basically trading the equity index, while not crude, I get hurt. so in my screen, I just keep crude on the screen, who cares about the equity index or currency markets, those are other markets.
I learned this lesson. Never thought they are correlated. treat them uniquely. otherwise, when you see the equity index is shooting, you will automatically think the crude will shoot, actually sometimes do, but not really. if I see crude is dropping, I will short even the equity market or whatever market such as the currency is dipping.
no distractions, just the focus, is the best.
less is the best
Im looking for 8220 that breaks then 8100