CL Redux

Some weird action today. DX is strong too. ADD: which may add some pressure although it didn't seem to effect it much earlier.
 
Quote from BCE:

I was thinking about you last night and thinking about myself. I noticed that a lot of times you don't take significant profits, like this morning, which I sense is because you're clinging to some idea you've formulated for that particular trade about where it's headed and even how far. Not taking a $700 profit isn't good obviously. You need to work on that. It's good to let trades develop, but at some point you need to take significant profits and not let them disappear when the trend reverses.

Now my problem, or weakness, or what I have to work on, is not letting trades develop enough. I get up $300-400 and take it and then it may run another $600-700. So that's not so good either. I usually have solid entries, my strength maybe. I just get out too soon too often. I'm working on it and getting better. But I was shaken out of my .00 long at b/e just a few minutes ago. And it only dipped about 1 or 2 ticks below that. And then it ran up 95 ticks. How dumb was that? :) That didn't work.

We just need to keep learning - which we are. We're getting better.
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You're right, i have a strong notion where a market is headed. Unfortunately it doesn't always go there!!. OTOH, i find it v difficult to take profits. I need to run em to pay for losses and to provide a return on top.

My notion on this trade (long from 9540) is that it could hit well beyond 97. I i need it to to pay for the losses incurred. Of course, the market doesn't care about what i want...

So, i was up 159 ticks at the top and have now surrendered a lot of that. Trade management has kicked in such that the stop has been moved to break even.

Not sure what else to do.
 
Quote from Visaria:

You're right, i have a strong notion where a market is headed. Unfortunately it doesn't always go there!!. OTOH, i find it v difficult to take profits. I need to run em to pay for losses and to provide a return on top.

My notion on this trade (long from 9540) is that it could hit well beyond 97. I i need it to to pay for the losses incurred. Of course, the market doesn't care about what i want...

So, i was up 159 ticks at the top and have now surrendered a lot of that. Trade management has kicked in such that the stop has been moved to break even.

Not sure what else to do.
More...
Don't have time to really get into it now, but 159 ticks really is a lot to leave on the table. I'd never do that but we do have different trading styles. We'll talk more later. You'll be okay and are going to do great.
 
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