CL Redux

Quote from riskaddict:

how can I learn to "read the tape" if I could improve my entries by 5 or 10 cents every times it would be nuts. I thought when I saw .20 it seemed like it was barely getting there and then boom.
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the " barely getting there" was prolly due to the lull before crude #'s @11

if day trading is to demanding forget tape reading
 
Quote from jones247:

NoDoji,

Do you move your stops to b/e after a designated amount of tick in your favor? For ex, once you're up by 10 ticks, then you move your stop to b/e...

Thanks for being such an inspiration.

thanks,

Walter
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You're welcome!

If it's a counter-tend trade I move my stop to b/e after 10 ticks. If it's a trade where price momentum should have a certain amount of follow through and it doesn't, I move my stop to b/e pretty quick (an example would be a false breakout). If it's a with-trend trade, I try to let it ride, but at more than 15 ticks in my favor I tend to move my stop to b/e.

Adding credence to my belief that I can probably make more money by leaving initial stops in place, than by trying so hard to limit losses, we have this morning, where I DIDN'T move my stop to b/e on the lack of follow through, called myself an idiot for not doing so, thought for sure I'd be stopped out for a 3rd loss in a row, and ended up with my best CL trade ever.
 
Quote from riskaddict:

how can I learn to "read the tape" if I could improve my entries by 5 or 10 cents every times it would be nuts. I thought when I saw .20 it seemed like it was barely getting there and then boom.
More...

I don't see a trigger on that trade, fwiw...
 
short .77, stop at 83.96

EDIT: target 83.31

8:04 and now stop to BE+

add .62, same stop

8:07, stopped. looking to reenter, same way i think
 
short at .84, must like the punishment, stop as before

8:3, add at .59 should it go

8:20 target to .45

Filled, they're killed! They wanted it, they got it... :cool:
 
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