Welcome to NexusFi: the best trading community on the planet, with over 150,000 members Sign Up Now for Free
Genuine reviews from real traders, not fake reviews from stealth vendors
Quality education from leading professional traders
We are a friendly, helpful, and positive community
We do not tolerate rude behavior, trolling, or vendors advertising in posts
We are here to help, just let us know what you need
You'll need to register in order to view the content of the threads and start contributing to our community. It's free for basic access, or support us by becoming an Elite Member -- see if you qualify for a discount below.
-- Big Mike, Site Administrator
(If you already have an account, login at the top of the page)
I got lucky this morning. Just closed another CL trade +20 .. 1 contract because I don't want to give my pips back to the market .. Playing safe lol! Soooo, +46 CL pips and 6 6E ones .. haha ..
I would personally never let a trade that touches my target go back to negative anything. I've seen it happen too many times, especially on the CL. My ATM's are set to do 2 things when my target is touched. First my stop is moved to half of my target. So, for a 20 tick target, touching the target would move my stop to +10. Second, I have a 2 tick Target chase, I let the ATM adjust to take 2 ticks less on my target if price starts to slow down and hesitate after touching my target. I believe in the old adage, never let a winner turn into a loser, especially if it touches my target.
Thanks Monpere for your tip. I will definitely learn to set up my Ninja ATM per your suggestion. Will knock at your door if I am unable to program it. Oh, nothing can be done on MT4 lol. Maybe an add-on will work which I have no plan to purchase one.
I tried my 6E MP template on CL again. Surprise .. surprise it works today, ie I can see the accu volume lol! Guess I gave it more screen space and it's more legible now .. haha ..
No more trades until I am back in the afternoon. Will focus on 6E then.
We're back after 3:00 pm EST. No more 6E/CL trades for today. Let's hope I will perform well for the remaining week.
What I did different today?
1. I changed PT/SL to 20/10 (from 15/8) for CL. 6E remains the same, ie PT/SL @10/6.
2. I used Flatten to close a position (found out how it worked .. pressed it real hard). It's more efficient that dragging an existing PT/SL. Then "x" to close all pending orders.
Here it comes a crispy recap on the 3 CL trades I did this morning:
1. -4 (went +7 and adjusted SL got hit)
2. -10 (I got in 2 pips late (UKNOWME I am always reluctant to place a stop order). It hit my SL 10 before going down 30 pips my direction - gosh!)
3. +1 (went +13 and I adjusted SL to +1. Hit me then resumed my direction .. now +30.)
I did a good move on the first trade because it reversed to the opposite direction after my early exit. SL cushion of 10-20 would get hit. For the second trade, "if" I got in at the suggested entry, my SL would stay intact and it stood a higher chance to be a profitable one. It also depends if I may choose to adjust my SL manually. At least my full stop would not be hit. For the last one, it's a judgement call. I only adjusted my SL to +1! It went 110.76 (my entry @110.74) then back to my direction.
Soooo, my only regret could be the last trade (which I did 2 contracts). If I cashed in +10/+13, I could have regained the lost ground. The morning is still young and I will continue waiting/spotting high probability signals.
Note: I missed 2 good signals (between 8:00 and 8:30 am) before doing my first trade. They're smooth sails esp when I missed taking them lol!
I did a Long seconds ago. They hit my SL 10 before rallying up .. now 20+! This time I placed a buy stop and no slippage. Everything looked good (still) and just that they love hitting my SL and run without me in it!
Now I am seriously thinking if I should adjust my CL SL to 15 (from 10) ... ooooo ..
Today is a big day for CL (release of the weekly crude oil report). My charts froze minutes before 10:30 am and again after .. now seemed moving. Funny that only the charts froze and not the DOM. I am going to email NT CS and see if they may have a good reason for the frozen issue.