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31 Ticks were all youre own trade Im glad you pulled a big one off.. & you dont have to credit me for that one zxxaxz... you pulled this one off before even i posted the #'s... Im happy you had a good start.. first good trade is a good start.....
Thanks for sharing
Bugs
Can you help answer these questions from other members on NexusFi?
Initially i wanted to sell 851.5 too but things didnt workout now im planning to sell 849.5 for a few ticks considering now it will be a triple top.. so whoever jumped in @ shorted 849.5 earlier was in a good trade....
Im holding my horses.. I prefer not to trade Fridays buy my eyes lit up when i saw the morning move I could have countertraded 843... I had a solid Blue line @ 843.. so lets see how it goes now...
I would ask everyone to use a proper stop loss for whatever mkt they are trading....
I keep a 3 point stop loss in my mind... but I kinda know if i entered a wrong trade(cause it was acountertrade) & I will not give the 3 points or 30 ticks while trading the TF... I will exit when it retraces to a certain level & give least as possible & re-enter in the direction of the trend again...
I know NO ONE will follow my (bad) style.... THANKS
Hector I dont trade OIL... If you are an OIL trader would you suggest what kind of stop loss you use.. by the looks of it OIL will react to certain levels I post but its so volatile.. applying the breaks just makes it impossible to stop @ that level..sometimes its a few ticks short & sometimes an over run.... I would have to give OIL the same time IM giving to TF to determine exact moves...
Hector I would appreciate your input in this.... if it helps a few over here...
Sure Bugs, I use a 6 tick stop and go to B/E after 12. What I do and this could be looked at as being bit strange but after I see my entry confirmation I enter limet order 3 ticks under the confirmation price. Some times I get left behind with the trade but oh well. The other thing that I have noticed is 20 to 24 is a good profit target for first contract. More times than not it has a pattern of running back down from that point. I am really thinking about all in all out on both and then re-entering again on a pullback if it comes. So I can have 4 trades with 2 contracts, 3 of them losers which would be minus 36 ticks, and 1 winner with plus 48 ticks. This would give me a plus 12 ticks, $120 day less commissions of $80 with a net of plus $40. So 1 winner out of 3 and have a plus day isn't bad.
Well thats they way I trade but everyone has there method. If I had a 50% day 2 winners and 2 losers with the same 6 tick stop and 24 tick target all in all out, I would be sub-net 72 ticks less commissions. Hope that helped and once again thanks for sharing your s/r lines with us.
Hector I appreciate all the time you have put in my journal & made it a place where everyone can share their trading & $$$$ making style... Well everyone has a differeint style & thats what makes this mkt move to certain levels(I call it the handshake & goodbye)....
Hector consistency is the key.. if you are consistent everyday you will be able to milk this mkt anytime any day... remember its all in your head.. certain times you kinda know that it will bounce off from this level but if your head aint with you in pulling that trigger then youve missed the train... so keep a cool head & always think you can conquer this market everyday... once you get that feeling you will feel like you are directing the mkt.... thats when youve achieved consistency....(Holy Grail)
Well goodluck & thanks again for sharing your style.. I encourage everyone that has the time to input a few words regarding their trading style(If they are willing to share).....
Im done took a huge risk jumped in 849.5 out @ 848 flat cause dont like to trade fridays but just wanted to get something out of it..... I hope all you guys did well....