CL Redux

[BCE]

Quote from NoDoji:

This volatility's insane. I've resorted to a very small time frame and took that last long off for .20 when it double topped on the 1-min, figuring if no break thru .49, then I'll take a paycheck on the spot.

That sounds right. When it's this volatile who knows what will happen next? That's how I was shaken out of my last trade too.

The other thing is my data feed on this new software is having issues too. So I missed some of this while dealing with that. I'll take a break here in a minute to see if I can get it straightened out.

 

[zxd]

Quote from BCE:

I've been thinking about you all morning. And I was hoping my comments yesterday didn't have a negative affect on these particular trades. They were just some comments on trading in general. I'm really happy that you at least made some money.

Thanks man No, your comments were much appreciated

 

[InvestVision]

Boy this was wild

Add 3 short 89.15 (QM) , avg. Around 88.0, holding for Monday close

Quote from InvestVision:

Add 2 short at 87.10

 

[BCE]

Quote from zxd:

Thanks man No, your comments were much appreciated

That's great. Thanks.

 

[startraitor]

Up another $1.00+ today in the $90's.

Biggest equity swings of my life this week, solidly in the green now.

 

[NoDoji]

Quote from EON Kid:

My condolences to those who got torn a new Ahole

If there's a way for CL to completely shock you on a given day, it will find that way.

In my former Skype group, when we were wondering if price could possibly keep going higher or lower on a strong trend day, I'd always say, "What's the craziest thing you think CL can do right now? That's what it will likely do."

If there's a way for the mods to allow Schizo to add a big warning to the first page of this thread, I think it would be something along the lines of what he told me when I asked him the most important things to keep in mind when I started trading live:

Use and honor stops.

 

[BCE]

Quote from startraitor:

Up another $1.00+ today in the $90's.

Biggest equity swings of my life this week, solidly in the green now.

Great. Glad it came back for you. Was definitely concerned for a while.

 

[NoDoji]

Looks like a bullish engulfing bar on the daily chart, considering it's engulfed 4 days of previous price action.

 

[Picaso]

Quote from riskaddict:

Brent is only up 1.75% does this start to bring things back to normal?

Brent (UK's North Sea) is not affected by an eventual closing of the Suez Channel (the oil [from the Middle East to Europe] will still flow and there's plenty of stocks not to worry about a shortage, but it will take longer and be more expensive to transport it).

 

[BCE]

Quote from NoDoji:

If there's a way for CL to completely shock you on a given day, it will find that way.

In my former Skype group, when we were wondering if price could possibly keep going higher or lower on a strong trend day, I'd always say, "What's the craziest thing you think CL can do right now? That's what it will likely do."

If there's a way for the mods to allow Schizo to add a big warning to the first page of this thread, I think it would be something along the lines of what he told me when I asked him the most important things to keep in mind when I started trading live:

Use and honor stops.

The thing is with stops though on a day like today, it's so volatile that it's really easy to get stopped out and then have it go the way you saw it 1 second later for what would have been a big profit. That's what happened with my last trade. Came within 1 tick of getting stopped out and within seconds I was up over 10 ticks and obviously should have held it longer. But you're right, you do have to use stops anyway in case the volatility jump really moves against you and continues.

As I've mentioned many times I'm just learning these contracts, CL and QM. And today offered some great lessons.

BBIB Bathroom break (which makes me think of mgmaggie ) and see if I can get my data feed issues straightened out.