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Reversion to the mean short in TF. Trade well and see you guys in 10 days after vacation.
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.
Vacation got delayed for couple of days. I was planning to visit a college friend but lucky bastard got ordered to catch a flight and haul his ass to europe. His job has many perks like travelling first class, staying at Four Seasons etc. but he does not have control of his time and schedule.
We as traders are in control of our time, trades etc. Back to 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.
Some traders got wrong idea that the way i am trading is ONLY possible when a trader has $millions and NO FEAR etc. I am not trading with millions of $.
whether a trader is trading 1 contract or 10 contracts- logic and set ups are the same. It looks very nice to see so called big gains but on 10 cars each tick is $100 of potential loss also.
RESPONSIBILITY of 1 lot or 10 lot trader is the same. I am just trying to share what i have learned from being a MICKEY MOUSE trader putting unimaginable pressure on myself to a trader who still has pressure but within reason.
Attached chart is for a friend from CA. I was sharing my thinking and set ups as i was putting on this trade yesterday afternoon. Hopefully this will give him more confidence. He already seems to be doing quite well.
NOTE: The way CL reversed from 88 area, odds are high that that will be low for CL till it gets broken with CONVICTION.
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.
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.
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.
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.
3) reshort CL 90.80 area. 45 minutes hold time- so far.
4) Short NG. Hold time 2 hours , so far.
5) Short PL since yesterday.
6) No trade in TF- this morning. I can not buy at highs.
It helps to have some sense as to how long of a hold time it will take to get paid. Enough of sharing P&L. I do not want my friends get worried that they do not have enough trading capital. Funny thing is that smaller the account size, it actually makes more sense to use wide stop loss and hold. In reality most of traders do totally opposite ( i did it for years).
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.
" reshort CL 90.80 area. 45 minutes hold time- so far."
Covered some but in no rush to try longs. Still short. 91.80 ( Globex high) to 89.40 - 240 ticks. No wonder pace of selling has slowed down. Lunch hour upon us.
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.
3 trades in CL since yesterday afternoon around 1 pm. I need Flush down and then reversal of Flush down to try long. It never came except yesterday during Euro session when flush down came around 88.20. If no Flush down then at least some decent buying. All day today there was nothing but selling with in between bounces to lure longs in to facilitate shorts.
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.