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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.
Today CL price action is a good example of stop loss. I was short from 81.90 and added at 82.30 with a stop loss above 83. I saw buying rushing in, i am not going to just sit there and see if 83 is hit. At minmum i had to flatten and if set up lines up- go long.
For last 4 days, there were no buyers and stop loss worked like a charm. I had shorted multiple times over last 4 days around 82.10, 82.30 etc with massive gains. Today price action called for to lift stop loss, get out of short and try long.
Of course over last 4 days, my stop loss could have hit but i did not see any reason to lift stop loss and held on to shorts. Now for next short set up whenver that lines up, stop loss will be 130 ticks above 95 area and that's wher it was on my short from 84.15 area.
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.
GOOG missed earnings and revenue estimates. Hum-----. APPL on tap next week. Holding some shorts in TF. Damn TF has not pilled back at all. Short from 1082 area. Today was a good lesson for me to first hand get a feel of difference between NQ and TF. Both have different composition in terms of stocks within them and they react differently when their major compnents have spot light on their back. For NQ it's GOOG, FB, MSFT , AAPL and the likes. I knew off the difference between them but did not had a good feel as to how they trade. Today NQ kept puuling back nicely with 30-40 points off highs. I kept adding to my shorts in TF hoping for a decent pullback but no go.
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.
How i set up a trade during globex session. I typically do not place trades during globex session. They generally have not worked for me. Lately, there have been expanded volatility in CL, therefore i am taking trades to take advanatge of the volatility.
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.
Internals to gauage if sentiment of majority of market participants is bullish, neutral or bearish are following. These for trading NQ, TF etc. For CL, NG, GC etc. I am basically trading based off daily and weekly ATR of each instruement.
If CL moves 150 to 300 ticks intra day, i am looking to short at highs within a macro bearish trend. In a macro bullish trend i am looking to go long when CL pulls back 150-300 ticks. Lets look at todays CL range. CL moved from 80 to 84.80, that's a 480 ticks which is way outside ATR. Picking an area to go long was tough but to short anywhere at highs was an easy trade.
Which are garbage? I am not sure what you mean by this.
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.
Thanks. I thought you watched stuff like nyse tick or trin. Thanks again for the clarification. I'm reading the logical trader now motivated by your posts
Time to check in Euro open and CL short i put in during Euro session.
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.