CL Redux

Quote from Visaria:

Out at 94.98, for +232t

Probably prematurely.

Quote from EON Kid:

Superb
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Thanks :cool:
 
Quote from plyka:

Yeah, that's a tough break. Just out of curiosity, why did you move the stop to .83 instead of your sell point of .87? I usually don't put in a stop at all when i enter a position because of the possibility of it running up/down to clip my stop before moving in the preferred direction. I have found that it hurts me at times, but overall benefits me. Once it decides to move in the appropriate direction, then i will put in a stop. I've tried a 5 minute rule, where i don't put in a stop until 5 minutes are up, but i never abide by it, and just put in the stop once i feel the time is right.

BTW, selling on that fake push up to .62 would have been the correct decision, but i don't think i would have been able to pull the trigger either.
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My default stop is 15 ticks, and I have my ATM set to put it and default target of 50 ticks in when the trade is entered, to be sure I'm somewhat safe if my internet goes down.

I moved it to .83 because it was above a small trendline I drew on my tick chart which I thought should not be broken except in the case of a retest of the high, which I definitely did not want. Now that I look at it though, the resistance was .85, so I could have moved it to .86 or .87 and been just fine. Hard lesson learned, as my target was a hard .20 ...

To make it slightly worse, at 10:56 I bought almost the low tick at .21, with my stop at .15 .. low tick of day was .14 ... from there it was a good retracement-free ride to .50...

I did redeem myself with a nice trade at 1:57, long at .79, sold at the high at .05 before it came back for a deep retrace.
 
Quote from JoshDance:

I'm long .40, stop .27, looking for .88

serious bid at .42/.41 .. hope he holds it for me
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Ran out of gas and hit 5m EMA, I'm out for +20 -- it's counter trend so no need to sit through retrace back down.
 
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