IncreaseNow's "Sell/Short" Futures Journal

[Fireplace]

How well do you know gold? It seems like you are all over the place looking at so many different things. Best to focus on one or maybe two markets and that's it would be my advice for a new trader like yourself.

Don't be the jack of all trades, be the master of one

Quote from increasenow:

attached is my trade today...ok, help me...what did I miss that showed that GOLD would soar when I went short?...I guess I did do right in getting out...quick...PS-the p&l is off due to commission re-adjustment by $4 or so...

 

[increasenow]

Quote from Fireplace:

Don't be the jack of all trades, be the master of one

heading that way...what do you 'master' currently?

 

[Fireplace]

Fewer questions and more live trading please

Quote from increasenow:

heading that way...what do you 'master' currently?

 

[increasenow]

Quote from Fireplace:

Fewer questions and more live trading please

when you are paying me to run this thread you can say that

 

[spd]

Quote from increasenow:

attached is my trade today...ok, help me...what did I miss that showed that GOLD would soar when I went short?...I guess I did do right in getting out...quick...PS-the p&l is off due to commission re-adjustment by $4 or so...

You showed up late to the party, you watched Gold sell off then jumped in at the bottom. After missing so much of a move down I would have waited for some confirmation the direction was going to continue lower. You should have expected at least a small short covering bounce after that big of a move lower.

I would have waited for that bar you entered on to close. A big up bar closing well off its lows on heavy volume after a sharp move down would get my attention. The next bar being an up bar closing near its high would have triggered a buy from me.

 

[increasenow]

Quote from spd:

You showed up late to the party, you watched Gold sell off then jumped in at the bottom. After missing so much of a move down I would have waited for some confirmation the direction was going to continue lower. You should have expected at least a small short covering bounce after that big of a move lower.

I would have waited for that bar you entered on to close. A big up bar closing well off its lows on heavy volume after a sharp move down would get my attention. The next bar being an up bar closing near its high would have triggered a buy from me.

thanks a lot...my thinking was that the 1108 level (prev close and open) was going to break again for quick move south lower than 1108...obviously something the bulls did not like about being lower than 1108...or was there news at that time?

 

[TheAngryHermit]

Look for smaller signal bars.
Get long where shorts have to cover and vice versa.
Be patient and wait for the second entry, even if it's at a worse price.
Enter with stops, exit with limits.

And trade something that isn't so "wicky".

 

[increasenow]

Quote from TheAngryHermit:

Look for smaller signal bars.
Get long where shorts have to cover and vice versa.
Be patient and wait for the second entry, even if it's at a worse price.
Enter with stops, exit with limits.

And trade something that isn't so "wicky".

thanks

 

[NoDoji]

Hermit's advice is priceless. Trade CL, it's slicker than snot

 

[Fireplace]

I'm just concerned that you are going to agitate the moderators again and they will move your thread to chit-chat, so I was trying to keep you on the right track!

Quote from increasenow:

when you are paying me to run this thread you can say that