CL Redux
- Thread starter schizo
- Start date
$1043 = some good bits of maybe more expected crumbs.Quote from schizo:
Oops, that's a typo. It should be 102.60. But thanks all the same. I believe everyone came away with little bits of unexpected crumbs...except Nod of course.
ADD Charles Barkley just told the Heat to "quit crying like a little girl." LOL
He said, "Hey, you guys are the ones that said you were going to win 8 championships." scared,dead,then live!
when the news is out, I sat my short at 102.38 with 3 contracts, and froze. I was down almost 5.5k, almost paniced, just keep telling myself "holy shit, why not have a stop loss there, I was trapped"!
when I saw 104+, I couldnot resist to adding another 3 contracts. almost wanted to get out in the first dip around 103.3, but glad I did not,when it retraced back to103.3, I added another 3 contracts, covered 6contracts at 102.63, and left 3contracts there, finally covered at 102.3!
felt very good and very good about today's results. it seems I defeated the market!
cheer
when the news is out, I sat my short at 102.38 with 3 contracts, and froze. I was down almost 5.5k, almost paniced, just keep telling myself "holy shit, why not have a stop loss there, I was trapped"!
when I saw 104+, I couldnot resist to adding another 3 contracts. almost wanted to get out in the first dip around 103.3, but glad I did not,when it retraced back to103.3, I added another 3 contracts, covered 6contracts at 102.63, and left 3contracts there, finally covered at 102.3!
felt very good and very good about today's results. it seems I defeated the market!
cheer
Quote from BCE:
To be honest when we see a move like this I personally don't think it has much to do with levels of resistance. My own take. I think these kind of moves blow through all of that.
In retrospect my mistake was in not moving up my stop to maybe 15 ticks below where I exited and give it a chance to run. But hey, it happened all so quickly it caught me flat footed. I was distracted for a few seconds and when I looked back at the screen I was up over $600 and it was starting to pullback. As I mentioned, I thought it was a head fake failed breakout in progress and would retreat back down as it had done several times before that. And it is so volatile now it can drop 40 ticks in less than a minute too. Those are the thoughts that entered my mind. So just on instinct I took the profit.
It just happened all so fast and I had no idea, as none of us did, what was up. And then it went up maybe 30-40 ticks and stalled a bit and I knew I left a little on the table and came here to see what was up and post what had happened. I'm not sure I would have reentered as it was so volatile and could have just as easily dropped straight back down. I try to avoid trying to trade that type of volatility. It's like trying to trade some economic announcement. It's great when you're on the right side of those movements. But if you're not, better have a hard stop in place as the price ladder can become just a blur. My 2 cents.
I'm with you on that 100%. I had a trade early this morning, a short I took expecting a break of the 102.36 low at the time. Price came in to that level quite fast and I grabbed on my b/e stop order, started to drag it to lock in 20 ticks profit in case the breakout failed and price found support @ .37 and bounced so fast that before I knew what happened, my b/e stop was taken out. From +.27 to +.01 just like that. I'm always torn between grabbing profit and letting it run, because of the amazing ability of CL to just retrace in a minute or two. I normally play my trades in chunks because of that, rather than holding. Our ATS shorted 103.11 today (when I shorted 103.16) and I took profit @ 102.35, then shorted twice more off the shallow pullbacks. The ATS held the position all the way down for a single 187-tick trade. But the ATS also allows 40-50 tick trades reverse to very small profits because it's programmed to let the big ones run.
Powerful earthquake shakes Japa
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<< is this causing oil drop , $1 down.????>>>
The magnitude 8.9 temblor struck at 2:46 p.m. local time and was centered near the east coast of Honshu, about 231 miles northeast of Tokyo, according a revised reading put out by the U.S. Geological Survey.
The quake was the strongest recorded on the Japanâs earthquake scale since 1995, according NHK.
A tsunami warning was issued for Japan, Russia, and the Mariana Islands, the Pacific Tsunami Warning Center said`
The agency also put the territories of Guam, Taiwan, the Philippines, the Marshall Islands, Indonesia, Papua New Guinea, Nauru, Micronesia and Hawaii under a lower tsunami watch.
The agency said areas along the Japanâs coastline near the epicenter may been affected by a destructive tsunami.
Japanâs Nikkei Stock Average (JP:NI225 10,254, -179.95, -1.73%) _fell after news of the earthquake circulated, ending 1.7% lower.
The Japanese yen also lost ground, with the U.S. dollar (USDYEN 83.1700, +0.3000, +0.3618%) _coming off the dayâs low at 82.75 yen; the greenback was buying 83.20 yen, compared with 82.92 yen the previous day.
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<< is this causing oil drop , $1 down.????>>>
The magnitude 8.9 temblor struck at 2:46 p.m. local time and was centered near the east coast of Honshu, about 231 miles northeast of Tokyo, according a revised reading put out by the U.S. Geological Survey.
The quake was the strongest recorded on the Japanâs earthquake scale since 1995, according NHK.
A tsunami warning was issued for Japan, Russia, and the Mariana Islands, the Pacific Tsunami Warning Center said`
The agency also put the territories of Guam, Taiwan, the Philippines, the Marshall Islands, Indonesia, Papua New Guinea, Nauru, Micronesia and Hawaii under a lower tsunami watch.
The agency said areas along the Japanâs coastline near the epicenter may been affected by a destructive tsunami.
Japanâs Nikkei Stock Average (JP:NI225 10,254, -179.95, -1.73%) _fell after news of the earthquake circulated, ending 1.7% lower.
The Japanese yen also lost ground, with the U.S. dollar (USDYEN 83.1700, +0.3000, +0.3618%) _coming off the dayâs low at 82.75 yen; the greenback was buying 83.20 yen, compared with 82.92 yen the previous day.