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COMMON SENSE


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COMMON SENSE

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  #401 (permalink)
 mfbreakout 
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By the time i got to deak this morning , CL was lready around 92.30 area. Can't go long at highs regardless how bullish something is looking within a macro down trend. Short 92.60 area.



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.
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 mfbreakout 
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Nothing but shorts in NQ. Cover some around 4020. Not interested in ticks but points. No longs as there are no buyers.



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.
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 mfbreakout 
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Rubber band stretched ? Both positions were in the money but it's not worth trading these for ticks. In fact nothing is worth trading for ticks.



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.
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 mfbreakout 
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Hi jthom,

" Would be good to read some pre analysis. (just joe - hint hint)".

Good thing about looking at weekly/monthly support/resistance, balance area etc. is that nothing major changes from day to day. Cl will keep testing low end of balance area till it breaks. Thus initiating new shorts around 91 to 90 area is not a good strategy. How about longs? i have not taken longs but they have been there.

Once price get rejected from one end , it goes to the other end. What is the other end? 92, 92.50, 94 etc. I used to worry about picking out the exact edge of the other end. My idea was ( and lot of retail traders spend majority of their time on this useless effort) that if i can pick up exact location of the edge, i can go long or short with a tight stop loss. It was 50-50 at best. I do not worry about exact location anymore so that i can pick a sweet spot for stop loss.

All i know, i do not want to be long around 92.50 and up if CL is coming up from low end of balance area ( 90.40, 90.60 etc). I am looking for shorts. When, where and how to short depends upon each trader skill set.

My short from 92.63 this morning may look like that i have some magic that i picked up the spot right on the money but it is not. I am mentally prepared for CL to go higher. I will add to my short provided there is no massive buying at highs etc. If there is buying at highs , i get out and see how high CL bounces 92.90, 93.50 etc. Price by itself has no VALUE.



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.
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 mfbreakout 
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Trading with confidence.



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.
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 mfbreakout 
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NQ will do this and will do that and on top of that i want a minimum of 1:3 risk reward trade with 2 points stop loss? Emphasis on MINIMUM. Really?

I am not aware of such trades, set ups and neither have interest in them.



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.
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 mfbreakout 
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mfbreakout View Post
NQ will do this and will do that and on top of that i want a minimum of 1:3 risk reward trade with 2 points stop loss? Emphasis on MINIMUM. Really?

I am not aware of such trades, set ups and neither have interest in them.

Reshort NQ 4029 area. There is nothing like shorting dead cat bounces.



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.
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 mfbreakout 
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One stats which matters to me the most. Relationship between numbers of contracts traded and gains. For me it's a clear sign as to how well i am reading Context and Price Action. Today stats were HORRIBLE. I do not know what to make of traders joining /clearing TST combine with stas like total contarcts traded 30, Net Gains $400 and so on. Well at least they have 70% win ratio. Some even have 90%.

Long 92.70 , 2 hours ago you were short from 92.63? There was quite a bit of buying 2nd time around is all i can say



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.
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 jthom 
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I can speak from experience, that when I was trading multiple contracts for very small gains (ie $100 for the day) each trading day will end up in a mess. Not only do the commissions add up, but I acquired this bad habit of relying on stacking contracts for very small gains.
In the end I wiped my account out.
EG: I start the day trading 4 contracts on entries. Looking to get QUICK profits to close my platform down.
After two losing trades I am down 50 ticks. CYA LATER.
Impossible to recover. Then the stress and emotion become paramount!
Being lucky is okay now and again. I Embrace it. Im trying not to rely on it!

Thanks for that analysis too. Most impressive!

Cheers

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 alejo 
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mfbreakout View Post
Trading with confidence.

yes, i am not have confidence at all
i lost all the trend , and i got exactly you have said


La lucha es de igual a igual contra uno mismo
The fight is fair against oneself
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 alejo 
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mfbreakout View Post
NQ will do this and will do that and on top of that i want a minimum of 1:3 risk reward trade with 2 points stop loss? Emphasis on MINIMUM. Really?

I am not aware of such trades, set ups and neither have interest in them.

it looks you know me,

but, i see the drive down, and i do nothing
only testing if each of lvn can resist and bounce...

La lucha es de igual a igual contra uno mismo
The fight is fair against oneself
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 alejo 
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mfbreakout View Post
One stats which matters to me the most. Relationship between numbers of contracts traded and gains. For me it's a clear sign as to how well i am reading Context and Price Action. Today stats were HORRIBLE. I do not know what to make of traders joining /clearing TST combine with stas like total contarcts traded 30, Net Gains $400 and so on. Well at least they have 70% win ratio. Some even have 90%.

Long 92.70 , 2 hours ago you were short from 92.63? There was quite a bit of buying 2nd time around is all i can say


nq
if range 60 point 30l=1800p=36K
if you got 50 point with 30 lots is 1500p =30k 83%range
if i got 7point with 30 lot is 210p=4k2 11%range

La lucha es de igual a igual contra uno mismo
The fight is fair against oneself
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 mfbreakout 
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alejo View Post
it looks you know me,

but, i see the drive down, and i do nothing
only testing if each of lvn can resist and bounce...


Looks like you have gotten the wrong message. I have several friends who trade based off LVN, CHVN etc and do very well. They just do not use so called ideal 2 points etc stop loss. I also know of traders who scalp all day with tight stop loss and do well.

In summary, i have nothing against any other method. I just do not trade that way. My messages are primarily intended for traders who are trying to incorporate some of my approach with their existing one and it is not working out. That's why it's not a good idea to mix water and oil. Mixing 2 totally different methods is not a good idea- is the message most of my posts try to convey.



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.
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 jsengxx2 
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alejo View Post
nq
if range 60 point 30l=1800p=36K
if you got 50 point with 30 lots is 1500p =30k 83%range
if i got 7point with 30 lot is 210p=4k2 11%range

Sorry but you have to change your mentality. If you are thinking like that than you can better think of trading a trillion contracts and just take one trade and retire.

If you can trade one contract you can trade X-CONTRACTS, that is how you have to think!

By the way, had a great trading day today.

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 mfbreakout 
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I do not encourage absloute statements like following

" that is how you have to think! "

" you have to change your mentality" and so on.

Above statements may or may not be true. Since, i personally do not know know traders, i try to keep it general and will ask others to do the same.

Thx



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.
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 mfbreakout 
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and now back to CL. Just in case one starts thinking that i ONLY short CL. Traded CL very efficently- so far. Still long and added to longs around 93.60. 3 hours of Hold time.



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.
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 mfbreakout 
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mfbreakout View Post
and now back to CL. Just in case one starts thinking that i ONLY short CL. Traded CL very efficently- so far. Still long and added to longs around 93.60. 3 hours of Hold time.

3 hours and 170 ticks later long from 93.08 looks like a SURE THING and if CL gets back to 93 to 92.50 area today or tomorrow- 94.80 area will look like an obvious area to short, if one can magically figure out a tight stop loss. I do not belive in magic. Only probabilities.



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.
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 mfbreakout 
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Look at all bearish candles. Hum---. Just have to hold for 4 hours till Johhny come lately crowd shows up.



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.
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 mfbreakout 
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mfbreakout View Post
Look at all bearish candles. Hum---. Just have to hold for 4 hours till Johhny come lately crowd shows up.

Don't even think about trading GC, NG etc till you are very sure what these are all about. Someone is getting hosed- don't be the one trying to trade for ticks and declare yourself fantasy PRICE ACTION trader. Just because you have made very mistake under the sun and have gotten rid of indicators does not make you a price action trader. It's a good goal to have. From day one i thought i am a price action trader. I just liked the sound of it till i made every mistake under the sun and there was none left to make.



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.
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 mfbreakout 
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"Calpers Is Done With Hedge Funds; Paid $135 Million in Fees Last Year for 7.1% Return"



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.
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 mfbreakout 
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Could not help my self from shorting CL into the close but no pullback as expected. Holding shorts into Globex. Reversion to the mean set up. When, where and how it plays out remains to be seen.



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.
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 mfbreakout 
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mfbreakout View Post
Could not help my self from shorting CL into the close but no pullback as expected. Holding shorts into Globex. Reversion to the mean set up. When, where and how it plays out remains to be seen.


Clsoing most of shorts. Why? The way CL hung in there at highs all day and into the close is not a good sign for shorts. There are no longs for me at fresh new highs but that does not mean CL can not go higher.
Tomorrow is DOE report day and that should give us some good clues for rest of the week.



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.
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 mfbreakout 
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Q) What were my reasons for being bullish this morning and going long at NY open?

A) Sunday night industrail production numbers out of China were very week. Something like worse in 5 years. This should have caused CL on her continued downward path. During Globex session crude was weak but never looked back after NY open. This is generally known as " Bad news good price action". When something like this happens one has to pay attention.

B) CL tested 14 month low balance area of 90.40 twice and got rejected. As a price action trader this is important piece of information. One has to be flexible and pay attention to what market is trying to tell us.

In summary i am no longer UBER BEARISH in CL. This does not mean i am going long at fresh new highs. Price has no value. Just as i was shorting 93 , 92.50 all the way into 90.98 into weakness, i will buy into strength. Trading is not about saying that on Monday CL was at 90.63, why would i buy 93 at NY open Tuesday morning?



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.
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 tflanner 
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mfbreakout View Post
"Calpers Is Done With Hedge Funds; Paid $135 Million in Fees Last Year for 7.1% Return"

As a 25 yr. client of Vanguard I could have saved Calpers a lot of money and frustration. It is amazing how much money is paid to fund manages that generate poor returns.

I think managing money and trading are similar. 95% of the people are not very good at it. However, a fund mngr is well compensated despite their poor results.

Costs matter...especially over the long term. Jack Bogle has more 'Common Sense' than pretty much anyone in the business. Low cost Indexing has been very good to me.

The Market is Smarter than You Are
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 mfbreakout 
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tflanner View Post
As a 25 yr. client of Vanguard I could have saved Calpers a lot of money and frustration. It is amazing how much money is paid to fund manages that generate poor returns.

I think managing money and trading are similar. 95% of the people are not very good at it. However, a fund mngr is well compensated despite their poor results.

Costs matter...especially over the long term. Jack Bogle has more 'Common Sense' than pretty much anyone in the business. Low cost Indexing has been very good to me.

I used to be a broker at Merrill Lynch. I quit after i realized the wisdom of John Bogle approach. I must have put 70 of my friends investments directly into Vanguard funds since i left Mother Merrill. Everyone likes me now (lol).

NOTE: I am not suggesting that stocks brokers do not add any value to their clients. Industry has changed a lot and has become more customer focused vs when i was a broker.



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.
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 mfbreakout 
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Bad news good price action, term structure etc.

Gartman: Quietly bullish on crude oil


Note: If you hate Dennis Gartman or CNBC, this is not a place to discuss it.



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.
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 mfbreakout 
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General expectation after 273 ticks move of yesterday for CL , CL should trade within usual ATR till 10.30 am DOE report. Can be 70 ticks range, 100 ticks range etc.

Short 94.87, Cover 94.42 area. No longs for me till i see FLUSH DOWN. I like to short against massive buy bars when rubber band is stretched and go long against massive sell bars. This is ONLY for rotational days. Basically, i am looking for exhausation bars.

There were no exhausation bars sround 94.90 this morning, therfore small size. I was hoping for CL to rip up to 96 area but no go. This is called getting short into the EXCITEMENT.

Massive Excitement= Massive Shorts

No Excitment= Small size. Price action is random and anything could happen during dull price action. One can say short 94.90 under double top kind of set up. I ONLY like double tops, bottoms when there is EXCITEMENT/ACTIVITY.
In a dull price action enviornment, lets say short 94.90, with cute stop loss at 95.21. Looks good till one gets stopped out and CL reverses from 93.27 after stopping you out. This calls for deep analysis the extent of which ends with something like " They knew where my stop los". This is not trading. It's called getting hosed because you asked for it without even realizing it.



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 mfbreakout 
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For CAFUTURE and all the soccer fans.




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 CACFUTURE 
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This one is the best one, especially for when you know its the final of the world cup !


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 mfbreakout 
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While indices are STUCK in the mud till Yellen clears some air. Something has been up and up. Try to find instruements which are not impacted with Yellen upcoming SONG and DANCE.



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 mfbreakout 
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and my lady is doing what she does on most days. Small long 94.08. Needs to clear 94.50 area with FORCE for some more up side move. Will be taking off ahead of 94.50 area.



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.
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 jsengxx2 
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and my lady is doing what she does on most days. Small long 94.08. Needs to clear 94.50 area with FORCE for some more up side move. Will be taking off ahead of 94.50 area.

Nice trade, you read my thoughts.

So far day is going well, 3 trades for me so far, 1 BE, 1 -16ticks and the last trade +40ticks.

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 mfbreakout 
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" Needs to clear 94.50 area with FORCE for some more up side move. Will be taking off ahead of 94.50 area"

Short. Just trading the box and done mostly for the day.



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 jsengxx2 
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" Needs to clear 94.50 area with FORCE for some more up side move. Will be taking off ahead of 94.50 area"

Short. Just trading the box and done mostly for the day.

Was short too but did not reached my target, outcome BE.

Done for today, did a god job for the news day.

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 mfbreakout 
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ONLY shorts in NQ. Never got good enough of a pullback to try long.

1) Short 4059 right after DOE announcement. Cover some 4051. Held some. NQ bounced from 4044 area. Held on to shorts. Added to short 4072 area. Cover 4064 flat.

2) reshort 4080 area. Cover 4064 area.


Reasons for Shorts: New highs in US $.

Since financials were green across the board plus market internals were +ve, we had 2 sided market. Trading FOMC day is not for most traders because risk is tough to define.



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 mfbreakout 
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short CL 94.50 area and holding some shorts into Globex. Strong $ is not good for commodities and rate sensitive assets.



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.
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 mfbreakout 
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4044 to 4081 (37 points) $ up. That's the depth of analysis. Short. Where would be stop loss? Far enough to avoid noise.

Thanks cacfuture. People generally do not click on links, so posting video. It's too good to be ignored.




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.
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 mfbreakout 
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Opportunities come for the prepared ones. Yesterday was a massive day for the ones prepared. Days like yesterday can make a trader month, quarter etc. One just has to get in with the trend instead of looking at jumping prices.
Reflect upon what were you doing yesterday during FOMC minutes.



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.
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 mfbreakout 
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For lovers of country music. I paint a pretty funny picture dancing to a country song but i like all kinds of music.




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.
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 kronie 
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mfbreakout View Post
I will post articles, thoughts, notes, charts, pictures from other traders, coaches whom i respect and have myself
tested whatever idea, trading set up etc. i learned from these wonderful members of trading community.

I will encourage other members of futures.io (formerly BMT) community to post they feel like worth sharing.


I chuckle every time I see this thread come up on the most recently quoted threads, on the home page of futures.io (formerly BMT), solely because Common Sense, isn't so common, and not everyone has "sense"

now that's my two cents on the subject, and you might want to ask for change back....


 
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 mfbreakout 
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I have no idea who have comon sense or not. Neither i am interested to know except traders i talk shop from time to time. These posts are meant to keep reminding what is important for me. Nothing more, Nothing less.
Since, this being a public journal all kinds of readers come and take what ever they want or do not want. Even if they have no desire they still show up. Some count ticks all day and wonder when PRINTING press will stop. Someone spent their own precious time and calculate as to how much i have made just this year. This individual seems pretty unhappy ( just guessing) and probably will be more pissed off as i ignored his inquiry. I have no intentions to piss someone off but some people can not seems to get out of their own way.

The most common one seems to be have been around for years but has ZERO contribution to futures.io (formerly BMT) community in general except one liners, free advice, or something should be this or that at futures.io (formerly BMT) etc. Luckliy it does not affect me except when i get an email like the one i got recently about someone doing calculations as to how much i have made YTD.

Except select few, 90% of my interaction with different traders has been +ve. Following is an example of not trading with common sense. I had the least amount of common sense for a long time in trading and from time to time i get off track.



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 mfbreakout 
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And some trades with Common Sense. Added to shorts in CL. As far as trading goes there are many aspects of common sense. One being trading with size so that mind does not loose thinking ability. It does not matter what kind of trading limit one has. If it can not be used properly, it will KILL you.



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.
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 Bsinks 
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And some trades with Common Sense. Added to shorts in CL. As far as trading goes there are many aspects of common sense. One being trading with size so that mind does not loose thinking ability. It does not matter what kind of trading limit one has. If it can not be used properly, it will KILL you.

Nice trade on CL today.......you da man MFBreakout

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 mfbreakout 
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Nice trade on CL today.......you da man MFBreakout


I can assume you had a good day just by your response. CONGRATULATION. Don't be pissed off ( i know you dont, this is for select few) when you are having a bad day and someone else is doing well. Generally misery leads tot more misery. Being happy is the goal.

NOTE: Expecting to see fewer lines on your chart soon.



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 Bsinks 
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I can assume you had a good day just by your response. CONGRATULATION. Don't be pissed off ( i know you dont, this is for select few) when you are having a bad day and someone else is doing well. Generally misery leads tot more misery. Being happy is the goal.

NOTE: Expecting to see fewer lines on your chart soon.

LOL.........I'm working on the line thing even as we speak.........good one

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 mfbreakout 
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Longs and Longs.



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.
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 mfbreakout 
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Short 92.22. Cover some 91.85. What? There was support at 92, there were buyers there on Tuesday. That was on Tuesday. Today is Thursday.

I do not mind shorting into so called support or going long at so called resistance. Stay with the trend and if joining the trend late ( like short 92.22 ) just size it properly and be aware of potential gains left per your time frame.

NOTE: Switched to CLX4 contract today.



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.
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 madLyfe 
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Short 92.22. Cover some 91.85. What? There was support at 92, there were buyers there on Tuesday. That was on Tuesday. Today is Thursday.

I do not mind shorting into so called support or going long at so called resistance. Stay with the trend and if joining the trend late ( like short 92.22 ) just size it properly and be aware of potential gains left per your time frame.

NOTE: Switched to CLX4 contract today.

when did you switch? at the CL open or mid-day? i made a trade earlier on 10-14 when the volume on 10-14 was > 11-14. everybody plays the rollover differently.

dont believe anything you hear and only half of what you see

\_(ツ)_/

(╯□)╯︵ ┻━┻
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 mfbreakout 
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when did you switch? at the CL open or mid-day? i made a trade earlier on 10-14 when the volume on 10-14 was > 11-14. everybody plays the rollover differently.

It's automatically done by TOS. Switch over was at start of trading day today.



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 mfbreakout 
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And some trades with Common Sense. Added to shorts in CL. As far as trading goes there are many aspects of common sense. One being trading with size so that mind does not loose thinking ability. It does not matter what kind of trading limit one has. If it can not be used properly, it will KILL you.

Longs and longs all day.



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.
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 alejo 
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Longs and longs all day.

entry after a little shake out


you know how can i hold the winner...i went to have dinner


thank you for share your knolewdge,

i think that your common sense/experience you share with us are very important lessons, they make sense for me, and answer a lot of questions i was doing these years


i have started practicing with 15 lots max size/$150000 sim ,wide stops, and i am notices 2 different worlds, building a position compare with 1 lot and an exact entry,
but in the other hand, i need to take care the multiply effect in risk, to take it in main consideration

thank you

La lucha es de igual a igual contra uno mismo
The fight is fair against oneself
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 mfbreakout 
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Hi Alejo,

My recommendation will be to stay away from any chart less than 5 minutes. Higher the better. Even though we do not have trading capital of big money traders but one has to think and trade like them. Try not to focus on smaller 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.
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 mfbreakout 
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Short 92.22. Cover some 91.85. What? There was support at 92, there were buyers there on Tuesday. That was on Tuesday. Today is Thursday.

I do not mind shorting into so called support or going long at so called resistance. Stay with the trend and if joining the trend late ( like short 92.22 ) just size it properly and be aware of potential gains left per your time frame.

NOTE: Switched to CLX4 contract today.

Added to short 91.97.

Note: Continued comments as posted on the chart. Ran out of space on the chart.

" Bad habits like these which leads one heads on to compete with algos etc are not very helpful for a discretionary trader to say the least. Every time CL bounces 30 ticks we start thinking of going long or getting out of our short is a clear signal that a trader is just too much focused on ticks and trying to trade under the false pretense of being a PRICE ACTION trader. We spend majority of the time and energy on useless excercise to figure out as to why CL bounced 30 ticks here, how can i figure out the mystery of these price movements ( i call them random) is the QUEST we keep running after and keep getting hosed by vendors selling us systems and by algos etc.

Nothing gets built over a short time period. It takes time. However, FOUNDATION has to be laid out very carefully. Wrong foundation and one can spend rest of his/her life fixing up that mess. Mostly it's very difficult to fix up that mess. In most cases one has to rip up the foundation and start all over again. One brick at a time.

In summary- ALWAYS ask is this REAL buying or just random noise? Try to ignore dead cat bounces in between. This is most difficult. Where to put stop loss, how to handle retracements etc. are all very important questions and i do not have easy answers either. All i know that if one picks up direction of trend right- stop loss is very easy. Pick wrong direction and 100 ticks stop loss may not work. Focus on picking direction right and then give enough breathing room for a trade to work out. What is enough breathing room? The one you are comfortable with and if the one you are comfortable with is not working- CHANGE IT. It's not about what we are comfortable with. It's about what works and what does not.

NOTE: Chart should read reshort 91.97 instead of 92.97. What i am proposing is just one way of trading and the main focus is to stay away from competing head on with algos etc.



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.
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 mfbreakout 
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Which side had an upper hand over last 5 weeks? This is as much of deep analysis i am able and willing to do. In my experience traders who spend lot of time on analysis by looking at charts etc. get drowned by their own analysis at the time of execution. On a 200-300 ticks move, they will grab 30 ticks and be happy thinking that they picked up an excat trade location with very little risk, without realizing they were lucky to ride a very small insignficant wave within a BIG wave. When and how rider of a small tiny wave survies within a BIG wave is not something i am willing to bet on.



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.
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 mfbreakout 
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I do not trade wave patterns etc. I just used wave example in previous post to make a point.



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.
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 mfbreakout 
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staying short CL unless something changes like some buying shows up or exhausation to the down side.



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.
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 mfbreakout 
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Every Tom, Dick and Harry ( i am in that group also) is trading ES, NQ etc. I am trading them also. However, there is nothing going on there except rotation which requires long hold time. My main FOCUS has been for last 3 days in $ senistive instruements. Shorts across the board. They also require long hold time but at least one get paid triple vs ES, NQ etc for same risk and same hold time. These are very VOLATILE instruements and require wide enough stop loss that even i get worried, so be careful if tempted to trade them at all.



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.
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 mfbreakout 
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Most of the traders have no clue as to what kind of hold time it takes to get paid while trading ES, TF etc. Been in short for 2 hours and counting plus up and down fluctuation in between where one is up 3K and next 15 minutes back to square one.

Still holding shorts after covering some. It's beyond me how home gamers try to trade small time frame charts and expect to win against algos. etc. I guess it makes us feel that we are in control. As one body twitches and moves with every 2 points moves up or down- it's nothing less than exciting to say the least. Whether one comes home empty handed at the end of excitement with this kind of trading is a different debate.



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.
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 mfbreakout 
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I was talking with a friend. He tends to get over excited. Afetr 2 ponts from the short side, and 3 points from the long side in NQ- he was out of control with statements like " I am milking this baby really hard".

On the third long attempt, it's the baby which has started milking him and he does not even know. All the milk is gone and something else is coming out of him. He is afriad to short. Why? beacuse he made 3 points from the long side earlier and is SCARED OUT that the moment he takes the short, NQ will bounce against him. NQ can bounce and will bounce if all is worried about 2 points etc.

Just because something looks like a cow does not mean it's a cow. He acutually had a bear in his hands but at the time she looked a cow ready to be milked. In markets cow becomes bear, bear becomes cow as traders whose action matters get going. Don't come to the marke with any pre concieved ideas.



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.
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 mfbreakout 
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yesterday longs and longs. Today, shorts and shorts. Why? what kind of pre market preparation, analysis you did?
NONE.

Nothing matters till everyone is on the playing field.



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.
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 madLyfe 
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mfbreakout View Post
yesterday longs and longs. Today, shorts and shorts. Why? what kind of pre market preparation, analysis you did?
NONE.

Nothing matters till everyone is on the playing field.

ive been following the internals for awhile and even more so a few years ago, but they seem to be basically just showing what price is already doing. making it almost redundancy. maybe im just looking at them wrong.

dont believe anything you hear and only half of what you see

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 mfbreakout 
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madLyfe View Post
ive been following the internals for awhile and even more so a few years ago, but they seem to be basically just showing what price is already doing. making it almost redundancy. maybe im just looking at them wrong.

Price has no value. It's going up or down etc. When out of 1000 of stocks 800 are down and rest up plus market internals- all i am interested is in shorts.

Traders who are not in shorts are waiting to go long. They are counting if price goes above this high and that then it's a reversal etc. I have no interest in longs today till everything is green. This does not mean NQ can not bounce from 4078 to 4090 or whatever- if market internals are still -ve or they turned +ve but turned -ve, i will reshort.

Internals are not meant to give a trader tick for tick road map. In the end a trader has to execute. My premise is that after internals turned -ve, there is no need to pick exact spot. Just short it. Problem is traders want neat tight stop loss too.
There is no such thing in trading. If all i am worried about yesterday as to where would be stop loss when i went long at 4083.50 yesterday, then trading is not for me.

NQ- 4110 to 4078, that's 32 points. A trader should know ATR and realize rubber band too stretched and first cover shorts and then see if long snap back makes sense. Snap back will be muted . It will not be 32 points if internals are -ve.
NQ moved from 4078 to 4090, a 12 point move. If i am long, i will book it. Internals get stretched too. Snap back trades are independent of internals.

Most important: Internals help to decide what kind of size to put on. One can see down move was picking up speed after 11 am eastern time. Experinced traders were adding size to their position all day long. They are not interested in making 32 points on NQ today. They are interested in putting on maxium size and get out. Whetehr it turns out to be 10 points or 20 points on entire position, it does not matter. They want to trade with size on days like today without worrying about if short should be at 4100 or 4095 etc. What do we do? Oh i missed the trade. NQ is already down 10 points. I missed the train. Wrong approach.



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.
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 madLyfe 
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mfbreakout View Post
Price has no value. It's going up or down etc. When out of 1000 of stocks 800 are down and rest up plus market internals- all i am interested is in shorts.

Traders who are not in shorts are waiting to go long. They are counting if price goes above this high and that then it's a reversal etc. I have no interest in longs today till everything is green. This does not mean NQ can not bounce from 4078 to 4090 or whatever- if market internals are still -ve or they turned +ve but turned -ve, i will reshort.

Internals are not meant to give a trader tick for tick road map. In the end a trader has to execute. My premise is that after internals turned -ve, there is no need to pick exact spot. Just short it. Problem is traders want neat tight stop loss too.
There is no such thing in trading. If all i am worried about yesterday as to where would be stop loss when i went long at 4083.50 yesterday, then trading is not for me.

NQ- 4110 to 4078, that's 32 points. A trader should know ATR and realize rubber band too stretched and first cover shorts and then see if long snap back makes sense. Snap back will be muted . It will not be 32 points if internals are -ve.
NQ moved from 4078 to 4090, a 12 point move. If i am long, i will book it. Internals get stretched too. Snap back trades are independent of internals.

ya i agree with you on the internals being short and the snapbacks being muted. im not following the NQ atm but TF seemed choppy to long till 9:20ish CST via the internals. i got short earlier around 8:50-8:55 CST. i was more looking at how we were playing around yesterdays HOD and how the 5/45min ranges played out compared to the ON range. if anything, the internals were giving me pause at that time until shortly after they fell out of bed. they could have also completely recovered right after the break out of the 5/45 and ON ranges. we just dont know i guess.

the internals showing me that 800 are down and 200 are up is nice but isnt that directly reflected in price anyways? im not trying to tear internals apart or anything, just trying to learn what i might not be seeing. are there times when internals are negative for the day across the board and price isnt following?

dont believe anything you hear and only half of what you see

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 mfbreakout 
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madLyfe View Post
ya i agree with you on the internals being short and the snapbacks being muted. im not following the NQ atm but TF seemed choppy to long till 9:20ish CST via the internals. i got short earlier around 8:50-8:55 CST. i was more looking at how we were playing around yesterdays HOD and how the 5/45min ranges played out compared to the ON range. if anything, the internals were giving me pause at that time until shortly after they fell out of bed. they could have also completely recovered right after the break out of the 5/45 and ON ranges. we just dont know i guess.

the internals showing me that 800 are down and 200 are up is nice but isnt that directly reflected in price anyways? im not trying to tear internals apart or anything, just trying to learn what i might not be seeing. are there times when internals are negative for the day across the board and price isnt following?

Taking a short right at NY open at 9.30 am eastern time was not the right thing to do. At that point nothing was clear. Markets internals were in fact +ve and that's why i reduced position size. This continued till 11 am when internals turned -ve and
the game was on. I added to short and waited for ATR to get hit and then some.

Once after a prolonged battle, one side gives up, marrket just does not turn around on a dime. Prices go up and down but that has nothing to do wit trend underway. Everytime price bounced experienced traders added to their short.

NQ down .40% on the day. TF down 1.40%. More reward=More Risk= choppiness. If one can handle choppines then TF is the one to trade. After CL it gives almost same bang for a buck. Iam trading GC, PL, PA, CL, NG- there is enough choppiness within them. That's why i am trading NQ to balance the day out.



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.
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 madLyfe 
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mfbreakout View Post
Taking a short right at NY open at 9.30 am was not the right thing to do. At that point nothing was clear. Markets internals were in fact +ve and that's why i reduced position size. This continued till 11 am when internals turned -ve and
the game was on. I added to short and waited for ATR to get hit and then some.

Once after a prolonged battle, one side gives up, marjket just does not turn around on a dime. Prices go up and down but that has nothing to do wit trend underway. Everytime price bounced experienced traders added to their short.

NQ down .40% on the day. TF down 1.40%. More reward=More Risk= choppiness. If one can handle choppines then TF is the one to trade. After CL it gives almost same bang for a buck.

i took the TF short at like 8:55 CST so basically a half hour after the open. the ADR was around 14 pts which also was in the same location of yesterdays LOD. i decided aiming for around 12pts of the ADR. obv i now know that i should have held on for much longer.


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 mfbreakout 
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madLyfe View Post
i took the TF short at like 8:55 CST so basically a half hour after the open. the ADR was around 14 pts which also was in the same location of yesterdays LOD. i decided aiming for around 12pts of the ADR. obv i now know that i should have held on for much longer.


Thats a great trade. Instead of focusing on total points see if you can add to a position. I will take 8 points on 20 cars vs 12 points on 2 cars. Either way it's a great trade.



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.
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mfbreakout View Post
Thats a great trade. Instead of focusing on total points see if you can add to a position. I will take 8 points on 20 cars vs 12 points on 2 cars. Either way it's a great trade.

i do need to work on adding to trades. chances of me adding would have been greater if there was some type of a pullback before my set tgt was hit. adding mid stream is still a wip for me. maybe this is where the internals can add some confidence.

one thing that was still on my mind was yesterdays short trade corresponded with todays tgt which happened to be towards yesterdays LOD.



you can see where the buying kept coming in. i managed to get out in that area after a long hold time right before it shot back to the other side of the range. i knew that getting out there was a good idea because of previous buying during the day and that it was getting towards the end of the day. some of it was luck though too. i mean, it could have fell another 10pts going into the close.

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 mfbreakout 
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" Curiosity did NOT kill the cat; Conventionality did". Lisa Laird Dirosso.

A small sample of trading ranges for CL on daily, weekly and monthly basis. Except during periods of extreme Volatility due to macro events ( like first Gulf war etc..) these ranges are a good gauage on long term basis also.

Pick direction right and then trade. I am not interested in as to what price is doing on 5 minutes etc time frame. Equation is pretty SIMPLE

Small time frame= Small targets= Tight stop loss= Randomness = Fighting against Algos.

Getting fixated on ticks and declaring ones trade a loosing trade ( provided one is on the right side, a.k.a trading CL mostly from short side over last 5 weeks) if one is down 30 ticks because trader has no ability to stay put will not be my recommendation. I understand being down 30 ticks is $600 on 2 cars but market does not care. That's why if a trader can trade 10 cars, he should start with 2 cars, add, subtract and a host of other tactics. One of the biggest issue i see after a trader has a good grasp on his trading method is trading with small account size full time. We keep blaming ourselve for not being disciplined, not having patience, not having enough knowledge and on and on. Learning never stops but there is a limit to how much knowledge one needs to trade successfully. There is not much difference knowledge wise between a trader who has been trading successfully for 5 years vs the one who has been trading for 2 years.

In summary problem may not be lack of knowledge, lack of discipline, lack of method etc. but lack of a properly funded account. I will not get into as to how much one needs to trade full time and make a living. If a trader can not figure out that himself- game is over even before it began. I am against forecasting about levels , thinking that TF will do this tomorrow etc. but we can forecast with almost 100% accuracy as to what ill happen to a trader if he has following 2 things ( provided a trader has basic method under control) ;

1) Undercapitalized.

2) Using leverage.

We never know when a trader will run out of his options. All we know it's a matter of time. Just look at perfectly good traders failing at TST combine, passing TST combine after all kinds of hurdles, getting funded and then back to ZERO with one or two mistakes. All a trader is left to wonder about as to why he made one mistake. The entire trading life becomes about ONE MISTAKE. This is not what trading is about. If this is what trading was about 1,000's of very successfull traders will fail every day including me.

But where to get the MONEY from? I never said i have all the answers. All i know, if i want to start a business, let's say, a gas station and industry average in my area is that one should have $150K to put up the gas station and one year of living expenses in cash, i will not turn around and open up gas station with 50K. It does not matter what kind of skill sets i have to run a business like this, it will not work. One may say, i was told that one can make a decent living trading futures full time with a small trading account? Well, that may be true or may be not. I do not go by what someone else is saying about this paricular issue. I go by my own research and results.

NOTE: Just in case one is curious, 25K in cash for 1 car of futures trading is my refrence point. Most importantly, i will not bet under any cirumstances of trading full time to make a living if all i can trade is 1-2 contracts. It's a good starting point to learn ones trading method but it's not enough to handle VOLATILITY of futures traing as a day trader. It goes without saying that having $1 million trading account will not make an unsuccessful trader into a successfull one. I know of several traders who make nice coins trading futures with small account but they make their living not from trading but from their jobs/business. They are waiting for a tipping point where they can switch to trading full time.
Tipping point? Yes, they are waiting for a year when they can make more from trading vs from their jobs/business. It has not happened yet. A very good trader has been at this for 7 years and i doubt the tipping point will ever come unless he increase his trading account size. More importantly he is happy making extra income from trading.



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.
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 mfbreakout 
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It mat appear that all i try to do is discourage traders from day trading. I am not a vendor, coach, educator or a broker and have no problem in sharing important issues related to day trading.

" WHEN YOU HAVE TWO ALTERNATIVES, THE FIRST THING YOU HAVE TO LOOK FOR THE THIRD THAT YOU DIDN'T THINK ABOUT. THAT DOESN'T EXIST". Shimon Peres.


From Brett Steenbarger

" Research from Barber and Odean finds that men trade 45% more frequently compared to women and pay for their overtrading by achieving lower risk-adjusted returns. A common interpretation of this finding is that men are more risk-taking than women and more aggressive in their trading, perhaps due to the impact of testosterone.

Consider a different interpretation, however. Research from Anderson and Stranahan found that overtrading is most common among elderly traders, minority traders, and traders with less wealth. What's the common thread here? Perhaps traders overtrade because they feel a greater need to make a living from their trading. Elderly, minority, and poorer traders may not possess other sources of income and might pressure themselves to support themselves and families through trading. Men are traditionally viewed as breadwinners for families and may also feel a heightened need to make trading succeed financially.

It is ironic that those who feel the most pressure to make trading succeed are the most vulnerable to poor trading practices. It is much easier to sit out quiet or noisy markets when you don't have to rely on trading as a primary source of income. It is also easier to practice prudent risk management when you don't need to double your money or more from a small account.

We know from research that the great majority of traders are not able to sustain a living from trading. Perhaps their overtrading is not so much the result of a lack of discipline as a sign of desperation. Who addresses the needs of traders who can't trade for a living and need to find constructive alternatives? It's not an area that brokerage firms, education vendors, or coaches have much interest in highlighting. In my next post, I'll take a look at life after trading and what makes it successful."



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 mfbreakout 
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Anyone who is long in TF, CL, NG, NKD , PL, PA , ZS or tried long has a message from Clint

" Clint Eastwood - You're going to look awfully silly..."




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.
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 mfbreakout 
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Luckily we are not fighting Clint, where one mistake and your are out. Not every bounce is a sign of buyers or exhausation from the sellers.



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.
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 mfbreakout 
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Insated of worrying about targets , try to figure out HOLD time. What's the point of figuring out 2 points targets when the move underway is 15 points?



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.
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 tturner86 
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mfbreakout View Post
Anyone who is long in TF, CL, NG, NKD , PL, PA , ZS or tried long has a message from Clint

" Clint Eastwood - You're going to look awfully silly..."


Ahh man @srgtroy they don't make movies like they used to.

'No, No I was just going.' Said all the bulls today.

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 tflanner 
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mfbreakout View Post
Insated of worrying about targets , try to figure out HOLD time. What's the point of figuring out 2 points targets when the move underway is 15 points?

Mfb, what is your average hold time for trades (assuming u track this). Mine is 3 to 4 minutes...which I know I have to change.

Thx

The Market is Smarter than You Are
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 mfbreakout 
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tflanner View Post
Mfb, what is your average hold time for trades (assuming u track this). Mine is 3 to 4 minutes...which I know I have to change.

Thx

It's in hours. 1 to 2 hours. I will scale out but i will not fully get out of position till the trend changes or ATR is hit if i am in the trend. I have been short CL, TF, NG, PL, PA etc for 3 hours today.



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 mfbreakout 
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" Imaginary War Zone".

Till market participants are fully engaged and present in the market, i find it uselless to make forcasts like TF will do this and that.




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.
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 mfbreakout 
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Guaranteed Returns. What? Have you lost your mind? will be a logical question. Similarly on the flip side traders who make forcast have lost their mind without realizing it.



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.
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 madLyfe 
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mfbreakout View Post
It's in hours. 1 to 2 hours. I will scale out but i will not fully get out of position till the trend changes or ATR is hit if i am in the trend. I have been short CL, TF, NG, PL, PA etc for 3 hours today.

hasnt the ATR for TF been hit?



red bands are the avg of the ADR of the ADR 10/20.

dont believe anything you hear and only half of what you see

\_(ツ)_/

(╯□)╯︵ ┻━┻
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 mfbreakout 
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madLyfe View Post
hasnt the ATR for TF been hit?



red bands are the avg of the ADR of the ADR 10/20.

Yes ADR got hit. Lunch hour. I am out and flat. But no longs. Need one of following 2 for me to go long.

1) A flush down and then reversal of it.

2) Market internals at least turn somewhat +ve.



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 mfbreakout 
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Are there any longs? Yes. Day trading is not very efficent with CC and the like. Once trend is set due to macro catalyst, they stay the course for some time.



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.
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 mfbreakout 
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18 year in the making .



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.
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 mfbreakout 
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I do not trade Nikkie but the set up was too good to pass. Short during Asain session last night. Cover some and added to short into bounce and holding some.

1st test breakout failure short.



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.
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 mfbreakout 
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CC has convinced me to ONLY swing trade SOFT commodities like KC, SB , ZS etc. CL, NG, HG etc will still be day trades mostly.



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.
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 mfbreakout 
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Picking the right horse is the most important.



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.
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 mfbreakout 
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Time for some SOUL music from Quintavious.




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.
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 mfbreakout 
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Someone asked me what was the set up/reason for long CC?

A) Opportunity only comes when there is perception of change. Ivory Coast is biggest producer of CC and following headline says it all.

" Cocoa Reaches 3-Yr High on Concerns That Ebola May Spread".



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.
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 mfbreakout 
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Short GC, Tried short TF at NY open and then reversed.



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.
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 mfbreakout 
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1) Flush down CL long 91.15 area. Out 91.70 area.

2) Flush Up CL short 91.77. Was looking for 91 area but no go. Cover some 91.54 and scratch rest.

3) Short TF on failed A up. Cover 1120 area. Short again 1123 in front of mixed internals. After 2 days of blood bath in TF, it's just rotating.



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.
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 mfbreakout 
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Q) How come i show number of contracts traded for some trades and not for others?

A) Any time i have more than 20 contracts in CL, NG, GC etc. I do not share. I do not want the everyone to know where i am adding size. More importantly it's beyond scope of this journal. I do not mind sharing relatively small position size trades to show that having ability of a trader to trade size is not THE EDGE. Whether one is trading 2 cars or 50 cars- set up is same. Execution is different.



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.
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 mfbreakout 
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mfbreakout View Post
1) Flush down CL long 91.15 area. Out 91.70 area.

2) Flush Up CL short 91.77. Was looking for 91 area but no go. Cover some 91.54 and scratch rest.

3) Short TF on failed A up. Cover 1120 area. Short again 1123 in front of mixed internals. After 2 days of blood bath in TF, it's just rotating.

TF added to short 1120 area.



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.
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 mfbreakout 
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Thanks to BSinks, i also look at free service StockMapper along with market internals to see which way to lean. Shorts and Shorts. When i shorted 1125 and later 1123- the enclosed chart was not as RED as it is when TF hit 1110. It was kind of neutral. So, shorts were not a given around 1124, however, one thing was clear- THERE WERE NO LONGS at ORH. As the selling pressure picked up- 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.
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 mfbreakout 
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Staying with CC longs.



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.
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 mfbreakout 
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Traders who were buying yesterday into close based on support etc took lot of overnight risk. What did they get? Nothing during Globex session. Imagine going home long yesterday and then till 10.30 am this morning- Nothing.
A friend of mine took long TF 1111 area yesterday and placed the stop loss below yesterday low at 1108. He endured JOY RIDE till 10.30 am eastern time. He got lucky and did not get stopped out. TF is at 1119 area. He got paid.

What did we get? We get paid too but without JOY RIDE. If one wants to take a position and hold overnight- regardless of the reasons- one can not be cute with stop loss.



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.
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 mfbreakout 
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This is for traders, who are very good with direction of a move, entry BUT stop loss been getting them hosed not for a week, a month but for years. They like it tight and want to get paid quickly ? Tight and Quick. I am not aware of such a set up and even if there is one, mostly it does not work in trading.

Maybe following will help them to reevalaute their thinking " Opps, i did it again"




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.
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 Bsinks 
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mfbreakout View Post
This is for traders, who are very good with direction of a move, entry BUT stop loss been getting them hosed not for a week, a month but for years. They like it tight and want to get paid quickly ? Tight and Quick. I am not aware of such a set up and even if there is one, mostly it does not work in trading.

Maybe following will help them to reevalaute their thinking " Opps, i did it again"


I'm getting better today though......lol

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 mfbreakout 
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It does not matter how experienced a person is any field- everyone needs to be reminded to focus on BASICS and COMMON SENSE.

Wayne Rooney getting reminded to get to basics. It does not matter that Rooney is KING OF THE HILL of english football league.




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.
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 mfbreakout 
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1) Misread price action in CL late afternoon when it broke above 92 area and missed longs.Short 92.60 , 92.90 and 93.25 area. Holding into Globex. Looks like once every two weeks i miss longs and have to meet CL on the other side and sweat bullets for a day and manage position till FAT LADY sings. " ROPE A DOPE".
2) Out of longs TF 1122 area.
3) Long NG all morning. Got tired and flat. NG provided high and tight set up for short late afternoon.



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.
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 mfbreakout 
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Too many set ups- if one starts looking at BIG PICTURE.



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.
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 mfbreakout 
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Stopped out of NKD short.



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.
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 mfbreakout 
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Longs and Longs. Give me some Cocca.



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.
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