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)
I decided to trade only combine account today.
Switched on my PC right before CL open.
I determined setups.
And i was looking how CL runs and i hasitaded to enter the market on Breaks of Levels
I tried this when I first started, the idea is correct but you will FUBAR the execution.
What I did was looked at the chart and worked to figure out why someone would be buying when I wanted to sell, and why they were selling when I wanted to buy.
I do this with every trade now, I look for the bull or bear case and then try to determine which one is stronger at that given time. This allows me to pick the direction I need to go in, and allows me to watch what is happening during the trade to see if the tide is turning. It helped me this morning in the M6E on my second trade. Once I entered the bull power began to erode, once I noticed this I exited the trade.
I am learning too. I think what Mike is trying to say is...it's quite difficult to trade CL using a 10ticks SL. You need to be damn good to pick an entry pt. Really learn a lot here. Check out Vince Virgil and MFBreakout. Excellent traders who are willing to share.
One of the best traders I know is trading CL with a 5 tick stop, and a 20 tick target, taking only the best setups. But of course, that takes lot of skill developed over a period of many years.
You are never in the wrong place... but sometimes you are in the right place looking at things in the wrong way.