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Well from 11 in the afternoon yesterday till 8 am this morning- Rope A Dope. I would have preferred to be trading with size on the long side yesterday but my mind was fixated on shorts after making it from short side for 4 weeks.
As long as one can keep BIG PICTURE in mind and get flexible- one has a chance. These are not the trades where one can say short 92.98 with LIS stop loss 93.15 etc. The kite is still high and tight and can run back up, stay in a range etc.
It does not have to pullback 100-200 ticks. A reversal like yesterday's does not just flips over. Time for caution when something does not lines up. Either way, we know what to do.
My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.
Shorts and Shorts in CL, TF. If after 5 minutes of taking a trade- you are self doubting yourself, don't trade NY open.
All those neatly packaged patterns most of us try to trade has no chance. You will see P&L fluctuate up and down and it's not EASY for most traders. There is lot more which goes on at NY open than other times and that's why it's HIGH RISK: HIGH REWARD time frame.
My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.
I am forever thankful to Bsinks for introducing dave the trader to me. I love it.
" Let me get my calculater out and buy me a seneca". " Hold on to 1000 shares for a RAINY day".
According to Bsinks nobody like sit because truth is HARD. Bsinks, please post if you find more videos by dave the trader.
My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.
Short right at open targeting ORL and thinking that day will be a typical rotational day. As internals got -ve got really bearish and added to shorts.
My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.
I got a message yesterday from someone that i am setting up bad example of trying to pick tops.
A) Read the disclaimer with each post.
My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.
LOL.......I'm not sure that's exactly how you found that video........but your welcome.......And thanks for all your insights to the markets, and your post in this thread. we are lucky to have you here.......I will look for good videos......
Love affair with CL from the short side over last 4 weeks continues.
My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.
Here is a trade I took on Friday's session.
My analysis / gut feeling indicated the shorts would be on the move again. Especially since the bulls in control the previous session. Trade went ok. I probably got in too early. Should of waited for OR to form.
However I was still quietly confident even when the trade was going against me. Was targeting ORL. Trade made 30 ticks.
I recall @mfbreakout stating somewhat - You can short the market a million times and constantly be stopped out because you are worrying about 10 - 12 - 16 - 20 tick stop loss. Then the market GOES DOWN - you are not short and you have a 40 tick drawdown for the day.
Good luck this week traders. Would be good to read some pre analysis. (just joe - hint hint)
Took this trade at commodity open. Should of probably waited for OR to form AGAIN.
Anticipated buying into Friday's Close. Went Long.
I think my scalping protection kicked in after breach of 92.00.
Didn't want to give back the ticks even though I was aiming for 92.20 (Fridays Close)
Eventually it hits my target, but got out too early.
Will keep an eye on that!
