CL Redux

Quote from jones247:

I think the CL market is approaching its support price, which is around 87.85...

If it breaks through the support, I believe it could drop to 87.00

any thoughts...

Walt
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While I was looking to short near the top, I've been looking to buy the dip for about the last 3 hours, first at 88.90-89.00, then at .40-60, then at 80 flat...

My next support area is 87.40-ish, but...

Today oil seems disconnected from both the euro (which has been making new highs all day long and is now above R5) and the ES (that has been going nowhere fast for hours). If you look at a 15' chart, the downtrend is obvious, if you drill down it seems misleadingly choppy.

Several times I've had the finger on the trigger to short (last at .25-ish), but I get this nagging feeling that I'm going to be the last idiot to go short for the rest of the session, so...

A great day to sell the rallies over and over and target 20-30 ticks at a time. [Edit: as in "so far"]
 
Well, it seems to be rallying right now, as the 87.85 support held its ground. If I was going to sell the rally, I would wait for confirmation with a short 5 min bar

Walt
 
sim

short .55

10 tick stop - uh-oh!

Target a move back to the chop below at about 88.10-ish

:15 stopped out -10 ticks.

Funny, I had started the day confidently and with some good reading.
 
Still SIM Trading

I am at loss of words to praise Al Brooks and No Doji
Thanks both of you for introducing me to 5 min charts PA...

I used to watch 1 min more often and I almost felt I should stop trading ... too many trades, too many missed trades even if I am watching PA.. too much pressure every second

Now all my trading decisions are based on 5 mins only period, use 1 min just as an extra check.
I feel very relaxed... few trades and alteast now trades are showing positive expectency.

I feel that I am more in control of what going on.

This is my final take at trading make it or forget it.
 
Quote from NoEmotions:

I am at loss of words to praise Al Brooks and No Doji
Thanks both of you for introducing me to 5 min charts PA...
More...

You can't compare. Nodoji speaks English. And her hair looks nicer. :)

This is my final take at trading make it or forget it.
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Go easy on yourself, man, extra pressure will only tighten you up beyond measure and make you ascribe more importance to trades than they merit. I agree that one cannot keep trying for ever, but that's usually the result of unrealistic timelines that lead you to trying to take shortcuts.
 
Quote from Picaso:

I agree that one cannot keep trying for ever, but that's usually the result of unrealistic timelines that lead you to trying to take shortcuts.
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Even if I see 0.1% improvement I do not mind giving extra time... where I was heading there was 0 % improvement.

Starting tomorrow I will be busy ( personal stuff ) for 1 week.

so far only 1 trade +250.
 
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