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Most of the traders here at futures.io (formerly BMT) and other forums do not have a chance.
Why?
Because they are basically moochers.
How do i know?
I have talked with Private Banker, Vince Virgil, Gabrieyele and a dozen who posted in my previous journal-
consenus is the same. None of them want to mainatin a journa due to lack of ideas sharing from moochersl. They decided to become vendor and that's the end of their ideas.
90% of the time MACD on my chart is useless. Out of habit left it on charts thinking it may come handy in one of those rare moments - whatever they are.
I was reading another trader post regarding CL and his levels. I have no way of knowing what's his analysis or
levels means. But 2 things stood out.
1) He was talking about weekly/monthly levels.
2) He was apparently pleased as to how CL failed at his weekly level and just tagged his weekly/monthly levels.
It amazes me how traders tend to believe their own levels to a point that they really believe that their levels are
magnets and precise to a tick.
Then they turn around and use a stop loss of 10 ticks etc.. believing that their levels are so precise that it either works or does not.
I have interacted with traders like these and it's not for me. This is what makes the market.
In the mean time i shorted right at so called support around 101.80. I have no way of knowing whether 101 level will be held or not but after 50 minutes of consolidation, i know it's time to cover.
No longs as CL ripped back to 102.10 area. Will see if longs make sense around 101.70 area on pullbacks.