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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.
One may say 89 area is support based off yesterday and weekly charts. May be or may not. I am still short. I have not seen any evidence of buyers. However, CL can go back up without REAL eveidence of buyers like yesterday. It can and it will go without me.
Evidence of buyers is also a pretty discretionary decision. 90.60 to 89.20- one should know to cover some if short but no longs for me.
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.
Moved stop loss to 89.31, in case we have a flush down here. Added to shorts 89.70 area on A down confirmation. In a bearish trend A down has value. A up has no value unless we get couple of days of consecutive A ups. Nothing magical about 89.31. I do not want to give up more than 30 ticks of my short- that's all.
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.
Shorts only concern is giving up potential gains in case of a reversal. Traders picking bottoms without EVIDENCE can loose their shirt.
I can handle giving up some of potential gains in case of a reversal. In case of a reversal there will be plenty of time to try long also.
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.
Most of the traders ( including myself) look for fast price action. I am not sure why because in my experience most money is made when price moves slowly without whipsaws in between.
In CL and TF there were no longs off ORH all day long. Shorts were put on all day at ORH . It just required patience.
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.
CNBC fast money crowd- especially Tim Seymour will have another chance today to say that world economy is not bad especially USA. It may be or may be not. I have no idea and do not care. All i know inflexible traders are getting taken out on stretchers. One day market is up 1.50% and next down again 1.5%.
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.
Without buyers there are no sacred levels. Just in case if someone went long at 89 area. I have no idea if CL will bounce hard from 88.50, 88 etc. All i know selling is not over yet. Stop loss around 89.21 area and cover some. It feels like CL is ready to get FLUSHED down. If it gets flushed down - all good- if not all i have to do is give up some of potential gains.
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.
Question I am asking myself- Does it really matter if i was short from 1084 or 1087? But i was worried after i reshorted TF again around 1187 that this may not be a good entry. What if TF goes up another 4 points higher ? Totally useless fear and thinking.
I am trying to correct this kind of insistence on getting the best price. Damn TF hit 1072 area and i had already covered some at 1082 (lol). Instead of worrying about whether 1085 or 1087 is a better price ( which actually is totally random. TF could have gone to 1089 etc and then reverse) , i should be more focused on not covering in front of massive selling after lunch. Experienced traders were adding to their shorts and i was covering.
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.