CL Redux
- Thread starter schizo
- Start date
Quote from blox87:
L 83.07
SL 82.89
T 83.88
discretionary
trailing the stop to 83.18 and going out for lunch
Out at 83.57 , had enough for the day.
+ 500 for this trade and another from 100 earlier = 600 total for day discretion and a missed 1200 dollar system trade doh!!!
Have a good evening everyone , nice trade gov
L 83.07
SL 82.89
T 83.88
discretionary
trailing the stop to 83.18 and going out for lunch
Out at 83.57 , had enough for the day.
+ 500 for this trade and another from 100 earlier = 600 total for day discretion and a missed 1200 dollar system trade doh!!!
Have a good evening everyone , nice trade gov
SIM
Since I am not exceeding 15 trades /day ,I decided I can just trade 1 account with no fear ( SimB )
SimB
Net +100
Trades = 14
few mistakes but still net positive.
Since I am not exceeding 15 trades /day ,I decided I can just trade 1 account with no fear ( SimB )
SimB
Net +100
Trades = 14
few mistakes but still net positive.
I did a couple scalps today, having practiced a lot during midday ranges in sim lately. I used the 1-min chart to time my entry so the stop could be very tight, since the profit target was going to most likely be < 20 ticks. I also added the 20 EMA back to my chart (had taken it off recently). The first one was at 12:01pm ET, sh @ 83.39, stop @ 83.44, took it off @ 83.28 when support was established at the 20 EMA as well as the 11:55 am containment bar low.
Later just before the NYMEX close at 2:25pm ET, sh @ 83.20 (beautiful 1-min setup), stop @ 83.26, out @ 83.04.
So by using the 1-min chart I was able to maintain a very good R:R despite the smaller profits.
My main concern about doing this too often is getting into a scalping mentality, something I worked very hard to eliminate early on.
YEP, the scalping mentality affects the way you see markets after too much scalping, it becomes habitual where you take the easy 7 pointer, and leave 60 points on the table with no heat if you just held the position for 12 minutes longer, if nothing else to give it a chance to turn into a bigger trade, if you take such a quick profit, time alone will prevent you from having a more profitable trade.
BTW, What a weak ass move today, as soon as the market couldn`t close on the highs of the days, and bust the shorts the most.....excuse my french, but I never saw so many pussy longs running for the exits, have some conviction......yeah.......nobody really wanted to break new ground to 85...it was just a trade.....to bust too many shorts who were not well positioned given the previous trading range, and the fact that there is some big news coming later in the week, so the shorts figured we would be limited in any upside moves.....which produced what we saw...a short fueled rally that had people scratching their head...is there something I don`t know about-----typical cl......it makes soooo much noise, but goes very little in actual terms.....just enough to bust people leaning the wrong way, and take their money
BTW, What a weak ass move today, as soon as the market couldn`t close on the highs of the days, and bust the shorts the most.....excuse my french, but I never saw so many pussy longs running for the exits, have some conviction......yeah.......nobody really wanted to break new ground to 85...it was just a trade.....to bust too many shorts who were not well positioned given the previous trading range, and the fact that there is some big news coming later in the week, so the shorts figured we would be limited in any upside moves.....which produced what we saw...a short fueled rally that had people scratching their head...is there something I don`t know about-----typical cl......it makes soooo much noise, but goes very little in actual terms.....just enough to bust people leaning the wrong way, and take their money
