Welcome to NexusFi: the best trading community on the planet, with over 150,000 members Sign Up Now for Free
Genuine reviews from real traders, not fake reviews from stealth vendors
Quality education from leading professional traders
We are a friendly, helpful, and positive community
We do not tolerate rude behavior, trolling, or vendors advertising in posts
We are here to help, just let us know what you need
You'll need to register in order to view the content of the threads and start contributing to our community. It's free for basic access, or support us by becoming an Elite Member -- see if you qualify for a discount below.
-- Big Mike, Site Administrator
(If you already have an account, login at the top of the page)
12-15-2011 long and short trades for cl. In the past i used to wait for a confirmed A up or A down to take a trade. With my OR of 45 minutes, i used to miss a lot of set ups.
Then a fellow trader showed me a way to anticipate A up or A down. Basically, break down of a box or breakout- depending upon whats the overall trend is.
smaller size for re shorts if shorting area is close to support. Thus, bigger size on shorts @95.20 vs 94.50 etc.
When one potential short area is taken out , I go long on pullbacks. For example, my first short on bounce was 94.44 with 94.52 stop loss. I got stopped out. I am long now from 94.16, expecting cl to hit 94.80. stop loss 94.99.
I like Gary stop loss better than mine 94.99. Moved stop loss to 94.95.
But, is this normal for you to feel this way? I would suggest you are trading a bit too big if so.
I prefer to trade a size where my butt is firmly planted at the back of my chair, my feet are flat on the ground, I am not arched over my keyboard.... etc.
Usually if I find myself in the opposite position, it means I should get out of the trade.
I know and agree that taking trades where others refuse to take them is part of the business, but you don't have to take them with such size that you stress out.
My initial stop below the low pivot would still not have been hit, but I was wrong about my entry timing and can always get back in. I think my first stop placement was about 35 ticks. Not a stop I actually like to see trigger. I may be thankful that is protected me, but I should be able to tell before that.
If a re-entry is warranted, it should provide enough opportunity to offset my indecision along the way.