CL Redux

Quote from oraclewizard77:

This could be one of the reasons you have so many problems with trading.

Having a stop = to your target is not a way to succeed. Instead if you are long for example at 112.88 and your stop is at 100 which means you are willing to lose 12 points, your target should be at least 122.00 not 100. This way at least you are getting equal risk vs reward.

Also, if you trade with real money, your front end would give you an error if you try to make stop and target at the same price.
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I think he means 100 ticks
 
Quote from oraclewizard77:

This could be one of the reasons you have so many problems with trading.

Having a stop = to your target is not a way to succeed. Instead if you are long for example at 112.88 and your stop is at 100 which means you are willing to lose 12 points, your target should be at least 122.00 not 100. This way at least you are getting equal risk vs reward.

Also, if you trade with real money, your front end would give you an error if you try to make stop and target at the same price.
More...


I do not understand .My target is 113.88 and my stop is 111.88 , 100 cents either way.I understand positive expectancy , so the hit rate of 60 % profitable trades wins on trend direction.


Systems with 100 stops and 70 targets can also make money, if hit rate is 70%. 30 losses of 100 = 3,000 loss and 70 profits of 70 = 4900 profits = net expectancy is 1900 per 100 trades or 19 cents per trade.

I usually aim for 40 stop and 80 target, and re-enter if set up still in place.


Money can be made with stop=target with higher success rate .

Stop moved to break even -20.
 
Quote from Picaso:

But here is the volume chart for yesterday and today
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Good Morning Guys. Hope everyone's day has gotten off to a good start. Didn't sleep well myself. Thought I might as well get up and see what I can see. Let's see what the pit open brings us.

Great trading to all today.

Thanks P for the chart. :)
 
thanks ..

thin volume today sofar ..

seems CL is eager to test 112.80 line , missed 113.30 level short , so waiting ..

now at 113.10

which test is first 113.40 ( again) , 112.80

Ideas ?

Quote from Picaso:

But here is the volume chart for yesterday and today
More...
 
Quote from InvestVision:

thanks ..

thin volume today sofar ..

seems CL is eager to test 112.80 line , missed 113.30 level short , so waiting ..

now at 113.10

which test is first 113.40 ( again) , 112.80

Ideas ?
More...

It's creeping lower, but the volume so far is not there

... but metals, euro, etc correcting

Will see if Reuters/Michigan pushes one way or the other

Edit: keep in mind that due to the wedding (I know, unbelievable), volume is being low in Europe
 

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