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COMMON SENSE
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COMMON SENSE

  #551 (permalink)
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Light up in CL came. I was getting excited as CL was moving higher. What? Were you long? No. CL never pulled back after lunch to try long. Instead of getting anxious about as to why i am not long, i was getting excited as it was moving higher.
Plan of action was there and then BOOM.



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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COMMON SENSE-2014-09-26_1215_light_up.png   COMMON SENSE-2014-09-26_1437_flight.png  
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  #552 (permalink)
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mfbreakout View Post
Some traders did not take shorts yesterday because price had already gotten away from their IDEAL LOCATION. I do not know what that means for a day like yesterday when there was selling across the board. Was ideal entry for TF was 1118, 1120 etc. For me it did not matter as long it is not close to daily ATR of TF. I just wanted to be short- 1118, 1112, 1110 and so on.

Today ( which is typical after a massive move ) when TF is stuck within 3 or so points, for some reason traders feel comfortable with calling levels and scalping for ticks. Someone emailed me long 1108.50 out 1110, stop loss 1107 with all kinds of reasons for the trade. He is a friend so i could not tell him that i do not trade " ROUNDING ERRORS".

I am long , took some off, added to long on pullback around 1106 and staying long. My trades may turn out to be 3-4 points scalps also but i am not going long and then short etc.


For index , i have 3 set ups.

1) If majority of the sectors are all GREEN, i am ONLY interested in longs.

2) If majority of the sectors are all RED, i am ONLY interested in shorts.

3) If sectors are a mixed bag- some green, some red, some neutral- it's a rotational day and good for 4-6 points.

#1 was in PLAY all day long. After 2 hours addition to longs around 1107 looks like a NO BRAINER as TF is 1114. 7 points and 4 points off long from NY open, 11 points is good enough per ATR.



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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  #553 (permalink)
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Q) Why don't you swing trade CL like you are trading CC, KC etc.

A) I have pretty good idea about CL tendencies and the RULES of the video game. I am not scalping CL. On most days with 2-4 trades i am clearing 120 ticks per day. No swing trading will ever match that. However, main reason is that i can trade size when day trading. CL can be so VOLATILE that i can not afford to leave positions open with size. Here and there, i will hold a trade overnight but ONLY with small size.

When i look at attached chart i see more opportunities in day trading Vs swing 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.
Attached Thumbnails
COMMON SENSE-2014-09-25_0516_trend1.png  

Last edited by mfbreakout; September 26th, 2014 at 06:20 PM.
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  #554 (permalink)
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I wonder why is it no one asks these questions in your thread?

Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

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  #555 (permalink)
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Big Mike View Post
I wonder why is it no one asks these questions in your thread?

Mike

I think it's because he sounds like a preacher and people prefer to go the confessional box question of keeping their sins private.

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  #556 (permalink)
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Big Mike View Post
I wonder why is it no one asks these questions in your thread?

Mike

I guess there is nothing to ask when all i tell traders stop loss is 150 ticks and lot of day trading is randomness. I got all kinds of questions in my previous journal when i was focused on 30 ticks with 14 ticks stop loss. That's what most of the traders want.



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.

Last edited by mfbreakout; September 26th, 2014 at 06:35 PM.
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  #557 (permalink)
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trendisyourfriend View Post
I think it's because he sounds like a preacher and people prefer to go the confessional box question of keeping their sins private.

Preaching is all to myself. Why preach others without knowing them? But i can see traders looking for whatever they are looking maybe just passing time, my post come across as a preacher especially when they are totally against what most of them are doing. All the dialogue is to myself to shed old ways. Plus there are no goodies to inquire about like indicators 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.

Last edited by mfbreakout; September 26th, 2014 at 07:08 PM.
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  #558 (permalink)
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mfbreakout View Post
I guess there is nothing to ask when all i tell traders stop loss is 150 ticks and lot of day trading is randomness. I got all kinds of questions in my previous journal when i was focused on 30 ticks with 14 ticks stop loss. That's what most of the traders want.

OK, I was just thinking maybe they were hypothetical questions used for example of illustrating a point.

Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
6)
Help using the forum? Watch this video to learn general tips on using the site.

If you want
to support our community, become an Elite Member.

 
  #559 (permalink)
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Good week trading

It was a pretty good week of trading........didn't make much......but more importantly I didn't loose any.

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  #560 (permalink)
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Big Mike View Post
OK, I was just thinking maybe they were hypothetical questions used for example of illustrating a point.

Mike

There are different trading groups ( comprised of 2-3 memebrs) who followed my previous journal. From time to time, i log in to their chat room. Questions, i post come during my interaction with them or i get PM and i answer in the journal in case others have same things on their mind.



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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