CL Redux

Quote from BCE:

This pullback is my own coulda, shoulda, woulda taken my profits. :) Was going to take the $400 on the initial bounce. Oh,well. got to be quick. :)
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Decided to take the $410 while it's still there. Out @99.62. As you can clearly see from the chart, not the way to trade this. Now it will go to 100.40. :)
 

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Was trying to pick a bottom in CL, and was getting stopped out, but I had very tight stops. Finally, my long at 99.40 started to go my way, and I gave it a nice target.

So while I down around $ 250.00 for the day, ended just down $ 42.00 plus commissions.

I am glad that I did not look at the screen after price started going my way so I was able to hold it to target.
 
this one is for Zen Student

"The Way of the Warrior Trader - vershun wun"

A - Always go in the opposite direction you were originally going to. Unless you catch yourself thinking this first. In which case, go in the opposite direction.

C - Close your winning position as soon as you breakeven to avoid potential losses.

T - Take Spread Betting Company to court for widening the spread and spiking the price just as you hit the buy/sell button.

I - am never going to do that ever again - once I get my next tranche of trading capital together.

O - my God. How the hell did that happen! I only went to make a cup of coffee.

N - Never enter a trade without being ready to change your timeframe if it goes against you.



from Trade2win
 
105 oil on Monday.


The Europeans were pretending to sanction Iran, to please the Americans, because Americans control IMF and major private creditors (e.g., hedge funds) which were hesitant to go to the barber shop.

The message passed by the Europeans through the secret channel to the Iranians reads like this: We do not genuinely sanction you, the great Iranian people, we do not care if you use the nuclear bombs on the Jews, you acutally finish the job we started 60 years ago. We pretend to sanction you, because we need the dumb Americans' money, they are among the major creditors, we owe them big money. We have no choice. Otherwise, we go bankrupt and our children will starve.

But the Iranians will cut off oil supply immediately, at least it is what they threatened to do. If the Iranians keep their promise (which they are not famous for), oil will trade above 105 on Monday.
 
"The Way of the Warrior Trader" by Richard McCall.


A.C.T.I.O.N plan

Accept .... all possible losses before entering the battle.
Centre .... yourself in body, mind and spirit.
Trust ....... your warrior skills and instincts.
Imagine ....success clearly in your minds eye.
Only ..........exist in the present moment to control fear.
Never .......stop or look back once action has begun.


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