Why Profitable Trading Is So Difficult

[austinp]

I really like this, Ammo

I'm not trading because CL is in the environment I call chop/range. Price is consolidating above the 50% retracement level (96.80-ish) of the pit session range. Price is above the demand line (disregard the news spike down when drawing that line), above a rising 5-min 20EMA and consolidating in a symmetrical triangle formation.

The bulls are in control, but "control" is used loosely here because of the 50% retracement off highs. There's no trend in play.

Price action favors the bulls until we have a breakdown and a new tilt to the 20EMA.

CL trading is done for today... profits booked, price action is roached out via FOMC blather until tomorrow. Platform shut down, mission accomplished successfully as usual. Nothing more to think about far as markets & charts & trading (aka "work") until next session, then we do it again as usual

 

[NoDoji]

Demand line (previous support) became resistance on the 1-min chart. Price action is still chop/range with a leaning toward a test of the .80 zone.

 

[NoDoji]

sh .06 for test of range

 

[NoDoji]

Stop moved to break even.

 

[NoDoji]

Notice the importance of positioning with airspace to the range low, rather than selling an initial break of the range low. Initial breaks of ranges (other than narrow range consolidation in a defined trend) tend to fail.

 

[murray t turtle]

[Short-ened QUOTE=NoDoji;3934466]The most profitable price action environments (defined trends and defined ranges) are the most difficult to trade.
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Good points

IF education/books seem exspensive[in time + $$] try ignorance, especially with leverage.All start out ignorant, not all start out with leverage.

 

[ammo]

on a 5 yr and 10 y its at fair value


http://i.imgur.com/JrpMY94.png 5
http://i.imgur.com/gT2sPlC.png 10
http://i.imgur.com/k13t0kh.png 20 pt hns started in april
http://i.imgur.com/zKOa6cA.png tightening tri needs to break up or down

watch, wait and see,nothing here for the larger timeframe gawker

 

[NoDoji]

96.97 is likely to ignite a cascade effect to the downside if it trades before 97.06 trades.

 

[NoDoji]

96.97 is likely to ignite a cascade effect to the downside if it trades before 97.06 trades.

I was surprised to see it defended so strongly.

ADD: OK, I see there's a micro trend line being defended ahead of the low.

 

[NoDoji]

If you pay attention to VWAP, "they" just bought it.