CL Redux

[NoDoji]

Quote from Picaso:

Edit: so what was your target as per your measured move? (if it's not a trade secret, of course )

89.75, but I expected I'd get at least 50 ticks. The fact it didn't just run really hard out of the gate and it pulled back a few ticks after the break through the HOD made me jump the gun on the exit.

 

[Picaso]

Quote from NoDoji:

... made me jump the gun on the exit.

You trade like a scared little girl, you should learn from me

----

Edit: sorry you didn't get your target, .75 seems a bit high to me (too close to the 90 flat resistance), but your 50 ticks were there. Looking at the chart, if you were stopped out at .18 you were stopped out to the tick (.17), or did you exit via limit/close.

I'm not going to cry over your 20 ticks, though, because I know tomorrow you're breaking your all-time tick record per car trading two cars, so... go get'em girl!

Edit 2: in my view, this year the only "holiday period" should be next week.

 

[NoDoji]

Quote from Picaso:

You trade like a scared little girl, you should learn from me

Nooooo....I had a trade today where I coulda moved my stop to b/e and instead I let it take me out for the full loss. So there! Now who's scared, huh???

This was one helluva beautiful clean day and my expectation of holiday chop caused me to turn nice simple runs into chunks of moves. Not that I'm complaining mind you

 

[NoDoji]

Quote from Picaso:

Looking at the chart, if you were stopped out at .18 you were stopped out to the tick (.17),

I have an uncanny ability to do that.

 

[EON Kid]

Quote from NoDoji:

89.75, but I expected I'd get at least 50 ticks. The fact it didn't just run really hard out of the gate and it pulled back a few ticks after the break through the HOD made me jump the gun on the exit.

less market participants & the usual institutional order flow means that they can feign the moves a little more

 

[NoDoji]

Early this morning I had a short position that moved over 100 ticks down (I managed to trade it in bits when I could've just held it the whole way).

Late morning I had a long trade that moved over 140 ticks up (I managed to trade it in bits when I could've just held it the whole way).

Someone reading this thread is managing to day trade these long moves, I just know it. Whoever you are, just post here and say, "Yes, I held for those big moves because there was no reason to exit the trade." You don't have to prove it. I'll believe you and it will give me confidence that I will one day be able to follow my trade management rules and let some of these huge runners just run.

FWIW, the ATS-in-testing lets these runners run. Despite dealing with lots of choppy stuff, it knows how to let a winner run and run and run. It snickers at me end of day. I hear it in the other room, trying not to snort too loudly while laughing as I pass by.

 

[drm7]

Quote from NoDoji:


Someone reading this thread is managing to day trade these long moves, I just know it. Whoever you are, just post here and say, "Yes, I held for those big moves because there was no reason to exit the trade." You don't have to prove it. I'll believe you and it will give me confidence that I will one day be able to follow my trade management rules and let some of these huge runners just run.

Based on my VERY preliminary research with 6E (and eyeballing the CL charts), trailing a 15-bar EMA catches 80% of every really big move on a 5 min chart. It would have caught all of both the "down" and "up" move today on CL.

 

[Picaso]

Quote from NoDoji:

Early this morning I had a short position that moved over 100 ticks down (I managed to trade it in bits when I could've just held it the whole way).

Late morning I had a long trade that moved over 140 ticks up (I managed to trade it in bits when I could've just held it the whole way).

A cautionary tale: I used to trade for 20-30 ticks doing ok and then the lure of THE moves, the big ones, got me... not doing that well, although I think I'm about to make a breakthrough... we'll see.

Stick to what you do best and let Robo-Nod do what she does best.

 

[austinp]

Quote from NoDoji:

Early this morning I had a short position that moved over 100 ticks down (I managed to trade it in bits when I could've just held it the whole way).

Late morning I had a long trade that moved over 140 ticks up (I managed to trade it in bits when I could've just held it the whole way).

Someone reading this thread is managing to day trade these long moves, I just know it. Whoever you are, just post here and say, "Yes, I held for those big moves because there was no reason to exit the trade."

regardless of entry-method approach, there are only two ways to manage trades: target pieces and chunks or hold for the swing moves

no one on earth can distinguish which single trade will result in what. despite all the efforts wasted in trying to do so, individual trade results is a random distribution occurrance.

so trade management is 100% personal attitude. what do you want to do... eat the smaller moves that reverse to par, or miss the bigger moves while you manage the smaller moves successfully?

I can save you years of wasted time, emotions and angst if you internalize the truth above and forget about trying to find the secret to predicting outcome of each individual trade.

trade management is all about managing the outcome of cumulative samples in like fashion... definitely not trying to micro-maange each single sample on its own

 

[Picaso]

Quote from austinp:

so trade management is 100% personal attitude. what do you want to do... eat the smaller moves that reverse to par, or miss the bigger moves while you manage the smaller moves successfully?

So much truth right there...