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sam I dont follow news at all even if it was news why upto that point that i already posted & asked to sell...
I used to follow news too, but got hurt bad.. its a false comfort we try to seek.. mkt will go where its supposed to news or no news... bids placed or not.. mkt will move.....
Just sharing this information.. alot will disagree with me.. but im sharing my style...
Thanks
Bugs
The following user says Thank You to bugsbunny for this post:
now if CL want to go up it has to buy 87.45 & stay bought & then follow the up #'s I provided for exits..
& if 87.00 breaks its gonna fall to86.75 just follow the lower #'s too... in the previous posts
I don't trade news either but you have to keep an eye since it might take out your stops. In this case right after the news the marker retested yesterday's highs (which was your short area) and it went crazy since buyers and sellers trying to figure out the outcome of the news and it will settle. I took a chance and shorted the high even in the mess since it would need something major to break yesterday's high and a quick $300 with that assumption and only risking $150. Correction $430 risking $150 on 2 lots. I didn't count the second lot.
The following user says Thank You to samhtrader for this post:
Thanks for sharing your trading style.. but honestly I had no clue what yesterdays high or low was all I focus is on what is drawn on my screen .. no news,, no pivots,,,, no pvps,,,no nothing... just simple is better.. if we keep our mind clear we can trade clearly..all the fear of news & touching certain moving averages just confuses your trading.. Everyone has a different style of trading no doubt Big an confirmed news does impact the mkt... Rather then news I watch the Dow, Nasdaq & S&P 500 to see if they are in the green or red... it does tell you what is going on..
Im happy you benefited from that move..
Sam share some thoughts here as it will help everyone in trading.. something you know that could help the novice trader....
Just like your numbers I play support and resistance because market does respect them and they need a reason to break them. It requires the big guys to commit to a new level and that requires a reason.
The following user says Thank You to samhtrader for this post:
