Made a few mistakes but still made a profit.
1) Traded during lunch hour, CL was moving just 5 ticks when I got in.
2) Did not wait for a bullish signal like I did for the rest of the week when I took long trades. This was silly again.
So I should have waited for lunch to end and waited for a bullish signal.
However, lunch hour ended I was still long CL, and I tightened my stop. I then was getting a bullish signal on ES. So went long ES to try to scalp a point since I felt we were in a range market.
CL still not moving, but ES finally hit my target, and CL finally started to go up.
3rd mistake, I should have either left my CL trade alone or moved my stop to BE. However, now that I was also positive on CL, I manually killed it for a very small profit. Also, since it was moving in a 5 tick range, I should have entered long at the bottom of that range, but really it did not matter much since I estimated right that CL would start moving up.
My plan was to take either a loss on these trades or a profit on these trades and stop trading till probably Monday, but I may check Friday out. I did see a level to go long CL if my stop was hit, but I did not want to move my stop down and get in another long if trend had really reversed to the downside. Although when I went long, current trend was bearish, it mostly happened during lunch which was suspicious, and also overall trend has been mostly bullish with the ES holding up pretty well, so I did feel I was trading with the overall trend, just need to be patient next time, and wait for my signal and not trade during lunch hour.
1) Traded during lunch hour, CL was moving just 5 ticks when I got in.
2) Did not wait for a bullish signal like I did for the rest of the week when I took long trades. This was silly again.
So I should have waited for lunch to end and waited for a bullish signal.
However, lunch hour ended I was still long CL, and I tightened my stop. I then was getting a bullish signal on ES. So went long ES to try to scalp a point since I felt we were in a range market.
CL still not moving, but ES finally hit my target, and CL finally started to go up.
3rd mistake, I should have either left my CL trade alone or moved my stop to BE. However, now that I was also positive on CL, I manually killed it for a very small profit. Also, since it was moving in a 5 tick range, I should have entered long at the bottom of that range, but really it did not matter much since I estimated right that CL would start moving up.
My plan was to take either a loss on these trades or a profit on these trades and stop trading till probably Monday, but I may check Friday out. I did see a level to go long CL if my stop was hit, but I did not want to move my stop down and get in another long if trend had really reversed to the downside. Although when I went long, current trend was bearish, it mostly happened during lunch which was suspicious, and also overall trend has been mostly bullish with the ES holding up pretty well, so I did feel I was trading with the overall trend, just need to be patient next time, and wait for my signal and not trade during lunch hour.
