CL Redux

Could just be my "hope" here but it feels like it wants to break down, hard

EDIT -- it was definitely my hope .. after I typed this, very heavy bids came in in the 10s and they never got filled and it started marching upward
 
This is both the blessings and draw backs of CL. You can make your profit quicker, but if you are wrong you make your losses quicker. With ES, I could be in a trade for 2 hours just to make a scalping profit, and with CL, I could be in a trade for 5 min. Just need to remember to not over trade or revenge trade.

Quote from oraclewizard77:

I took went long against you and took a small scalp of profit. Hope you don't mind. :-)
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Quote from oraclewizard77:

This is both the blessings and draw backs of CL. You can make your profit quicker, but if you are wrong you make your losses quicker. With ES, I could be in a trade for 2 hours just to make a scalping profit, and with CL, I could be in a trade for 5 min. Just need to remember to not over trade or revenge trade.
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Even as it took its second dip below .10 on weak volume, I thought to myself that it looked like a good long opportunity, even though I was short.. hard for me still to change bias that quickly to reverse, particularly on a day like today which has been anything but directional.

EDIT: on the bright side, at least I'm having this internal dialog with myself while I'm in the trade, IOW I'm recognizing it sooner, rather than being stubborn and averaging down, or moving my stop way up to give it room when it looks like a loser, and all those other mistakes that I have too commonly made.
 
After I put in my stop and target, the trade went with me right away, and I went down to watch TV so I would not move it. In hindsight I should have gone for more profit. But my goal was to just take this trade and win or lose stop trading for the day.

Quote from JoshDance:

Even as it took its second dip below .10 on weak volume, I thought to myself that it looked like a good long opportunity, even though I was short.. hard for me still to change bias that quickly to reverse, particularly on a day like today which has been anything but directional.

EDIT: on the bright side, at least I'm having this internal dialog with myself while I'm in the trade, IOW I'm recognizing it sooner, rather than being stubborn and averaging down, or moving my stop way up to give it room when it looks like a loser, and all those other mistakes that I have too commonly made.
More...
 
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