CL Redux

just shorted the weakest point at 70.25, covered it with 30ticks gain. done the morning session.
those bulls who had the balls hold through this point definitely may bail out?


Quote from trader198:

70.25 (the weakest point for BULLS) is a good point since first thrust to 70.7+, then next thrust to 70.7+ too, but it falls back, defined a pretty nice double top, then the 69.82 (the weakest point for bulls) of course all those in hindsight, I was trading NQ, bought the first thrust down and sold the bounce, then shorted it, added more at morning low, covered it at 1809 limit order.
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Quote from cstfx:

My internet screwing up big time - flat 7005 - left alot on the table!
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That's 2 days now that I have had internet issues. I recently moved and this cable internet is not what I expected. I used to have a T1 into my apartment for trading and people always thought I was an ass to be spending 350/month for internet. But look at just today what I left on the table and it would have paid for itself just this morning.

Looks like I will be getting another T1.
 
Quote from cstfx:

That's 2 days now that I have had internet issues. I recently moved and this cable internet is not what I expected. I used to have a T1 into my apartment for trading and people always thought I was an ass to be spending 350/month for internet. But look at just today what I left on the table and it would have paid for itself just this morning.

Looks like I will be getting another T1.
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Totally. 350 sounds like alot but it's worth it for sure.
 
Quote from cstfx:

That's 2 days now that I have had internet issues. I recently moved and this cable internet is not what I expected. I used to have a T1 into my apartment for trading and people always thought I was an ass to be spending 350/month for internet. But look at just today what I left on the table and it would have paid for itself just this morning.

Looks like I will be getting another T1.
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if its a negligible cost then you should go back. otherwise get a ping monitoring program to alert you and have a reliable backup like wireless or ADSL.
 
Quote from lurefo:

Most of the best traders in the world have written on the subject and they disagree with you. Unless your strategy is 100% automated, trading is all about psychology.

Even with the best money management techniques and a solid trading stategy, 90% of the traders will screw up. You know why? because our actions are driven by our emotions and our state of mind wether you are aware of it or not.

Your car analogy is bad because of the above. A car does not think. A car doesn't have emotions. It doesn't get mad and do stupid things. If you want a good analogy, take professional athletes. If you have done any competition, you know techniques don't make the difference. But psychology does.
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I agree with you that trading is about psychology. A great example is how most people on this forum here trade against the trend.
 
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