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.
Last edited by mfbreakout; December 15th, 2011 at 12:50 PM.
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.
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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.
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