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Light up in CL came. I was getting excited as CL was moving higher. What? Were you long? No. CL never pulled back after lunch to try long. Instead of getting anxious about as to why i am not long, i was getting excited as it was moving higher.
Plan of action was there and then BOOM.
My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.
1) If majority of the sectors are all GREEN, i am ONLY interested in longs.
2) If majority of the sectors are all RED, i am ONLY interested in shorts.
3) If sectors are a mixed bag- some green, some red, some neutral- it's a rotational day and good for 4-6 points.
#1 was in PLAY all day long. After 2 hours addition to longs around 1107 looks like a NO BRAINER as TF is 1114. 7 points and 4 points off long from NY open, 11 points is good enough per ATR.
My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.
Q) Why don't you swing trade CL like you are trading CC, KC etc.
A) I have pretty good idea about CL tendencies and the RULES of the video game. I am not scalping CL. On most days with 2-4 trades i am clearing 120 ticks per day. No swing trading will ever match that. However, main reason is that i can trade size when day trading. CL can be so VOLATILE that i can not afford to leave positions open with size. Here and there, i will hold a trade overnight but ONLY with small size.
When i look at attached chart i see more opportunities in day trading Vs swing trading.
My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.
I guess there is nothing to ask when all i tell traders stop loss is 150 ticks and lot of day trading is randomness. I got all kinds of questions in my previous journal when i was focused on 30 ticks with 14 ticks stop loss. That's what most of the traders want.
My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.
Preaching is all to myself. Why preach others without knowing them? But i can see traders looking for whatever they are looking maybe just passing time, my post come across as a preacher especially when they are totally against what most of them are doing. All the dialogue is to myself to shed old ways. Plus there are no goodies to inquire about like indicators etc.
My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.
There are different trading groups ( comprised of 2-3 memebrs) who followed my previous journal. From time to time, i log in to their chat room. Questions, i post come during my interaction with them or i get PM and i answer in the journal in case others have same things on their mind.
My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.