Ms. Doji, I came to realization theres no such thing as too high and too low, if buyers are making a strong point or sellers are in control, it will go regardless of Support/Resistance... I just wish I wasnt soo focused on the stupid PNL display box in NinjaTraedr and allowed my profits to maximize .. more..
CL Redux
- Thread starter schizo
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Ms. Doji, I came to realization theres no such thing as too high and too low, if buyers are making a strong point or sellers are in control, it will go regardless of Support/Resistance... I just wish I wasnt soo focused on the stupid PNL display box in NinjaTraedr and allowed my profits to maximize .. more..
I covered my P/L @ -$288 this morning to avoid undue negative influence
It worked by the way...
On that note, I'd like to add that I'm back to trading 1-2 lots now. I had some 5-lot days not long ago and started sim trading 10 and 15 lots with visions of grandeur in my mind.
Last weekend I stumbled across a thread on ET about guys blowing out accounts on a day (in 2000 I think) when fed made an unannounced rate cut and the market gapped 40 pts and ran up from there.
No sooner did I finish reading those horror stories, I got a friendly word of caution from ammo via PM.
Strange synchronicity, and I took that as a sign from above and decided to go back to a level where my account wouldn't be decimated by a rogue move.
IM sticking to 1 contract for a while.. I mean with CL having a 2$ range.... even IF i can avg. 500-1000 a day thats more than enough satisfying for me....
stopped b/e
Total for today: +80, +40, +70, +50, -50, 0 before commissions
not a bad day, but whenever I have a day like this, trading the mini, it makes me believe I can trade the full contract with ease, but I always get different results and I go back to trading the mini's all over again. Why is that? Is it I can be more patient waiting for the trade to play out knowing that I have 2x as much room for it to work? I need to get beyond this psychological barrier.
Very nice! I think giving more room is beneficial. If I'd not been so nervous about stop placement early on, I would've never had early losses. I should've just placed my initial stop above the pre-market lower high and left it at that.
All ended well though with persistence and trend-following (100% short today).
-08, -06, -13, 0, +70, +57, +25
First of all, nice trades this morning. As for that infamous day in 2000, I lost a ton of money on that "suprise! surprise!" Greenspan rate cut. What a moron that guy is. He resisted cutting the rates even though the market went off the cliff earlier in March of that year. Just like Bernanke. The two stooges then frantically went on a rate cut campaign like if there were no tomorrow. I'm sorry but these two are the biggest asswipes history has produced.
At any rate, how is everyone adjusting after the 1000-point plunge circa 05/06? I've been more or less flat and I can't seem to get out of this trading rut. I win in the morning only to give it all back in the afternoon or I win one day and than lose it all the next day.