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just reread all my postings, right from last September 15, 2011.
It is remarkable how much more I know now then i did when i first started this journal some 9 months ago. I
Some of the things i wrote back last year are not embarrassing, exactly, but I sure have a different outlook on what was important then and what is important now. I always knew, but really not to the degree i now beleive.
It hasnt been very long, but it feels like I have come a very long way in a relatively short time.
And i have a long way to go. But i am looking forward to the challenge.
I just wanted to say congratulations. I really enjoy your contributions. I find it both amazing and inspiring that you've been able to improve so quickly.
I have decided to make a few changes to my futures.io (formerly BMT), journal.
This week I have started to trade another account, and I am finding that coordinating and taking screenshots is too distracting, so I wont be doing that any more.
I am also looking at trading another instrument besides Crude. The ESmini. I have trasded it before, but now i think I have a better approach than I did almost a year ago.
In addition, it takes about an hour to mark up and retrieve the information, and i already record in a hardcopy journal, so I am effectively doubling my workload. If i do this on another account...well you get the picture.
I also am preparing a Introductory Course on Investment Trading, which I will be teaching at a local community college. I may be relatively new trading futures, but, its introductory. I think it will be a worthwhile experience. I like to teach others. I find it helps me to clarify my own objectives, and teaching opens me up to new and different possibilities. And, i get a chance to meet people who have an interest in investments. They wouldnt be there otherwise.
Went long this morning pre market and held through the open and was able to book some ticks before the market turned.
Since then, I have been short.
But...looking for a swing to the upside . I like 7865 to go long.
Why I like this area to enter long? Its close to the lows of the week. 7800 has really been solid support all week. Top of the channe/trading range will allow me to scale out.
Why I am cautious...because of the strong selloff today. Might blow right past the weekly lows. So far, it looks like 7800 is holding. Buyers and sellers are duking it out...come on buyers!
Suri, countertrend trades are a no no for him. Trade with the trend.
What would you do here? I like the swing. I expect the breakout thru the lows to fail. But I have to be very convinced before I risk my capital here.
Here is a snap shot of my long and my entry. I know, i said i wouldnt be doing it, but this trade turned out well, and seeing as i was talking about it, i should follow through with the result.
What can I say...today was realy good if you had a short bias. I mean really good.
After looking at the 60 minute ands the TPO of the last few days, my plan was of 2 minds.
1. Price will break out to the upside.
2. it isnt.
Went long with muy first trade this morning. I was able to get 30 ticks, but that was it.
Then it was down down down. I was a little surpized by the strength, but it brought to mind an old investment ism. Prices go down twice as fast as they go up.
So I was looking for short entries, and got a couple of nice ones. when we got to the lower part of the range, I was very observant to where the buyers may step in, if they were going to.
My first number was 7800. Stalled a but around 7831, but then the bears took control again around 7875.
