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I agree with BCNTrader. Red's thread is an inspiration. I had the opportunity to talk with him in my own lingo(french), it was a pleasant conversation.
As far as I am concerned the strategy is just a tool, it is how you use it that makes the difference; unless you have found a strategy that is perpetually succesfull and doesn't need any human fixing.
Ive been thinking the same way , about strategies Ive tried but couldnt make work . The trades that have produced the best for me were all the ones with the greatest amount of stop relative to other trades Ive made on the same timeframe . In fact the stopouts wind up reversing towards my intended direction very near the stopout point (>50% of the time) on the trades with the tight stops . This is a great thread redratsal and thanks for sharing the good and the not so good , have a good weekend all .
first of all, thank you for your thread and all the efforts. It is not that usual for someone to openly share his/her strategy. It shows one does not need to find a holly grail to trade successfuly.
I do also trade crude and euro (I am more pure PA and point figure kind of guy) and never really thought about trading Nymex crude in the morning European time. Will definitely try that.
BTW I am coming from similar background like you are - general manager for German company, decided to trade for living for the same reasons.
Anyway thanks again for this thread and good trading!
CL long 5 contracts, target below vwap -1791$. I decided to take a loss on this one, too much time (6 hours) and PA in the UK session was showing a clear sign against the trade.