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COMMON SENSE

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  #501 (permalink)
 tflanner 
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Here is an article of a CBOT floor trader Chip Kenyon. He was a local in the bond pit. I worked on the floor from 1987 to 2001 and I would have to say he and Tom Baldwin were the most impressive traders I saw. He traded incredible size and he was the hardest working local i saw in the Pit. He donated $ for an Ice Rink at Middlebury College, which is named Chip Kenyon Arena.

Ramblings of a Speculator : Chip Kenyon

The Market is Smarter than You Are
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 mfbreakout 
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tflanner View Post
Here is an article of a CBOT floor trader Chip Kenyon. He was a local in the bond pit. I worked on the floor from 1987 to 2001 and I would have to say he and Tom Baldwin were the most impressive traders I saw. He traded incredible size and he was the hardest working local i saw in the Pit. He donated $ for an Ice Rink at Middlebury College, which is named Chip Kenyon Arena.

Ramblings of a Speculator : Chip Kenyon

" My neighbor always said we have to get the right breed in the business. I tried to help out 13 guys but only 1 of them made it. We want to pass it down to the next generation and have stable guys in the business."

I don't feel bad after reading this. My man Fish tried to help 1,000 or so and only 30 or so made it. There are many reasons for it but the traders i have interacted with can pick direction right, can get location right but keep mucking it up with TIGHT Stop loss and expecting QUICK returns.



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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  #503 (permalink)
 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"."

Cover some 92.73.



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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  #504 (permalink)
 mfbreakout 
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Picking top? Requires lot of experience to pull something like this. I ONLY use disaster 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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JTurner77
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mfbreakout View Post
Picking top? Requires lot of experience to pull something like this. I ONLY use disaster stop loss.

How do you know when you're wrong?

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 jsengxx2 
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mfbreakout View Post
Picking top? Requires lot of experience to pull something like this. I ONLY use disaster stop loss.

You sound like GOD.

I think trading without a stop loss is the worst recommendation you can give to traders that are beginning and coming here to look for help.

If I look at your other thread that was closed that is located in the elite section, you where using a stop loss of 20 ticks if I remember.

 
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  #507 (permalink)
 mfbreakout 
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jsengxx2 View Post
You sound like GOD.

I think trading without a stop loss is the worst recommendation you can give to traders that are beginning and coming here to look for help.

If I look at your other thread that was closed that is located in the elite section, you where using a stop loss of 20 ticks if I remember.


I am not sure what gives you the impression that i do not recommend using stop loss. It's pretty clear just in my last post
" I ONLY use disaster 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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  #508 (permalink)
 mfbreakout 
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JTurner77 View Post
How do you know when you're wrong?

I am wrong everyday in terms of timing, position size, price path etc. As far as how do i know if i am wrong from CONTEXTEUAL point of view?

CL has been in a bearish trend over last 5 weeks. If CL moves to the upside at least 2 days in a row outside her daily ATR, i will start thinking that maybe trend change is underway. CL ATR is about 160 -200 ticks. If it moves 400 ticks to the upside without any deep pullbacks, my disaster stop loss will be hit and i will have to rethink about CL being in a bearish trend. How an instruement tries to reverse a trend is very important. It's just not a matter of 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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 jsengxx2 
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mfbreakout View Post
I am not sure what gives you the impression that i do not recommend using stop loss. It's pretty clear just in my last post
" I ONLY use disaster stop loss."

Just be more specific. Just mention the amount of ticks you are using.

 
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  #510 (permalink)
 mfbreakout 
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jsengxx2 View Post
Just be more specific. Just mention the amount of ticks you are using.

150 ticks. Whatever the stop loss limit one uses- main idea is that any one position should not -vely impact ones portfolio more than 1-2 % of equity.



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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mfbreakout View Post
I am wrong everyday in terms of timing, position size, price path etc. As far as how do i know if i am wrong from CONTEXTEUAL point of view?

CL has been in a bearish trend over last 5 weeks. If CL moves to the upside at least 2 days in a row outside her daily ATR, i will start thinking that maybe trend change is underway. CL ATR is about 160 -200 ticks. If it moves 400 ticks to the upside without any deep pullbacks, my disaster stop loss will be hit and i will have to rethink about CL being in a bearish trend.

If you are using a stop loss of 400 ticks and your average trade is 30-40 ticks from what I have seen from your screen shots then I hope for you that price never stops you out.

 
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 jsengxx2 
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mfbreakout View Post
150 ticks.

That for me is the same thing as trading without a stop loss.

 
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 mfbreakout 
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jsengxx2 View Post
That for me is the same thing as trading without a stop loss.

I have no interest in what it means to you and neither should you focus on what it means to me. You need to restart your old journal. From the last message you sent me, you are having great success with trading CL. There are lot of traders who can benefit from it.

" Hi mfbreakout,

I have been trading CL now for a couple of months now and with great success"



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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mfbreakout View Post
I have no interest in what it means to you and neither should you focus on what it means to me. You need to restart your old journal. From the last message you sent me, you are having great success with trading CL. There are lot of traders who can benefit from it.

" Hi mfbreakout,

I have been trading CL now for a couple of months now and with great success"

Yes I have send you a question about the NQ vs TF, Iam looking for another market to trade beside the CL and sinds you trade different markets, I think I just had to ask you about it.

I made the question about the stop loss because there are people here on futures.io (formerly BMT) that are following your concept of using large or no stops and that is just the worst thing you can do. Iam not worried about what you do but instead worried about the people (newbies) that are coming here and reading your B*LL S**T.

Someone that had a journal in the elite section and now is doing the same thing in the free section is just doing this whit one thing in his mind and that is trying to make free publicity so you can be a vendor in the future.

About my journal you can read in this thread ( ) why Im not picking it up.

 
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 Balanar 
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I hope I can help a bit.

Correct me if I am wrong but MFB uses a DISASTER stop only.

That does NOT mean that he waits for getting stopped out.

If he is wrong (due to context or whatever) he will close his postions with a "small" loss.


Shorting new daily highs with exhaustion is by the way the "right" thing.

Check out the old thread, I focused more than twice on these special exhaustion candles.

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 mfbreakout 
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Jsseng XX2 has a distinct honor of getting put on ignored list TWICE. He keeps coming back for more- whatever he is looking for.

He sent me e-mails last year asking some questions while totally ignoring the fact or acknowledging his half ass logic. I answered his emails and took him off ignore list after a year. He just can not get out of his own way. Asking BigMike that "Ignore Feature" should be banned and on and on.

He constantly goes around complaining that there is not a single journal at futures.io (formerly BMT) the way he wants it. BigMike told him to move on and start his own journal. Last time, i looked he had $3000 in his SIM trading account. I do not have courage to calculate ROR someone has to get to trade full time and make a living. Trading to get extra income is good with this kind of account size but to make a living- No and No.

I just try to get 25-30% per year- if lucky.



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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Balanar View Post
I hope I can help a bit.

Correct me if I am wrong but MFB uses a DISASTER stop only.

That does NOT mean that he waits for getting stopped out.

If he is wrong (due to context or whatever) he will close his postions with a "small" loss.


Shorting new daily highs with exhaustion is by the way the "right" thing.

Check out the old thread, I focused more than twice on these special exhaustion candles.

No guts No Glory.



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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NKD.



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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Why i have not taken a short in CC and neither have an interest in doing so. 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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A fellow trader who trades with a relatively small trading account size had told me couple of times that it's much easier to swing trade Vs day trading especially with small equity account. I will look at stop loss required to swing trade and just could not grasp the concept. BigMike has talked about it extensively. At least in my experience, stop loss for swing trading is relatively small vs day trading. In day trading one has to avoid THE NOISE and lot of RANDOMNESS.

PL, CC,KC, ZW etc have no volume to go by. They consolidates for weeks and then trend in one direction for weeks. One just have to wait for weeks sometimes to get the set up. Not good approach for traders who need excitement and stimulation of day trading.

I decided to swing trades these and i am surprised to say the least.



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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 wldman 
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Did someone type that they have been trading CL with great success for A COUPLE MONTHS? Holy fossil fuels Batmen! The thread started to detract from this thread should NOT get any attention or dialogue from the regular participants here. Let @Big Mike take care of that.

Dan

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 mfbreakout 
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wldman View Post
Did someone type that they have been trading CL with great success for A COUPLE MONTHS? Holy fossil fuels Batmen! The thread started to detract from this thread should NOT get any attention or dialogue from the regular participants here. Let @Big Mike take care of that.

Dan

nice trading instruement you have- the hammer




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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 wldman 
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that is a box of hammers...as in I often fell dumber than a box of hammers. Would you like a fresh pic?
Dan

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 mfbreakout 
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I would rather be blind than be long around 93 to 94 area. Where are the bulls? It took 3 hours for short to get played out, I am in no rush to go long or cover short completely.




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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CL moved from 92.30 area back to OR. No longs for me as FLUSH DOWN condtion was not met. Short with small size 93.12 area. Condition to short with size up here is FLUSH up. Till then it's random price action for me and not worth shorting with size.

Why would anyone who is put on ignore list will keep lurking around? Understanding this is tough part. Trading is easy.



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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MFB...thx for all your posts. You are a big help to me and the futures.io (formerly BMT) community.

As Hillary once said..."It takes a Village"

Positive thoughts = Positive Results

The Market is Smarter than You Are
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 mfbreakout 
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Tuesday TF had 1.5% sell move, Wednesday 1.50% up move and today 1.78% down move. I am glad i have not tried swing trading with TF etc. How can one trade this? How about trend? What trend is what i say. It's all over the map. I have no desire to make predictions about collective behavior of market participants when it comes to TF, NQ 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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tflanner View Post
MFB...thx for all your posts. You are a big help to me and the futures.io (formerly BMT) community.

As Hillary once said..."It takes a Village"

Positive thoughts = Positive Results

Thanks TFlanner. Coming from a 30 year former pit trader means a lot.



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 get asked following question a lot. If anyone wants to contribute to this issue, please post.

" You said in your journal "I just try to get 25-30% per year- if lucky."


How is that?

Here is an example of 10K account size with 2 points ES stoploss/profit target with winning percentage of 60%

Account size 10000.
2 points stops, 2 points target. 2 trades a day (260 trades a year), wining percentage 60%
Commissions = $5
156 winning days (2 X $100 X 156) - (2 X $5 X 156) = 31200 - 1560 = 29640
260 - 156 = 104 loosing days (2 X $100 X 104 ) + (2 X $5 X 104) = 20800 + 1040 = 19760
P&L = 29640 - 19760 = 9880 that's 98.8%

What Am I missing here?"

First of all if you are doing this CONGRATULATION, and keep doing it. For more on this issue , i will recommend reading Dr. Brett Steerbarger blog. He has dealt with 1000's of traders and still does, he has written extensively on this topic.

TraderFeed



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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CL moved from 92.30 area back to OR. No longs for me as FLUSH DOWN condtion was not met. Short with small size 93.12 area. Condition to short with size up here is FLUSH up. Till then it's random price action for me and not worth shorting with size.

Why would anyone who is put on ignore list will keep lurking around? Understanding this is tough part. Trading is easy.

Out flat 92.43.

I had restarted the journal to share changes in my trading from the previous one. Core of trading remains the same but execution, hold time, stop loss etc have changed.

Today will be last day i will share my P&L . Idea was to share as to what is possible. Journal will remian open and i will post. Most of the posts will be about swing trading, instruements which are under major change etc. and of course 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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 mfbreakout 
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Reshort TF 1109 area.



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 mfbreakout 
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Reshort TF 1109 area.

Out flat 1105 area. No longs for me in front of weak internals. Will short again if it bounces higher in front of weak internals except if FLUSH down comes down to the downside and then complete reversal of flush down. Then longs.



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 mfbreakout 
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Unbalanced area ( single prints) from yesterday got filled 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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 mfbreakout 
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As usual lot of traders were day dreaming all day. Will TF, NQ etc go down during Globex session or bounce- I have no idea. I ONLY trade when every trader is on the playing field during NY open. As i have said in the past, if one can forecast as to how attached chart will look like tomorrow, i can guaantee 100% return. 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.



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 Bsinks 
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As usual lot of traders were day dreaming all day.


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Hi Bsinks,

In future you can use following command to post direct video.

[yt] paste youtube link [/yt]



lol........mfbreakout.......you da man......thank you for your tireless teachings on every thing.

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 mfbreakout 
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" lol........mfbreakout.......you da man......thank you for your tireless teachings on every thing."


I learned everything from dave the trader. In this 3 minutes video dave covers everything related to trading. I can not get enough of this video. I have nominated him for Trading hall of fame.




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" lol........mfbreakout.......you da man......thank you for your tireless teachings on every thing."


I learned everything from dave the trader. In this 3 minutes video dave covers everything related to trading. I can not get enough of this video. I have nominated for Trading hall of fame.


Since you've posted this a bunch of times, I just want to make sure you know it's fake.

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Since you've posted this a bunch of times, I just want to make sure you know it's fake.

Mike

Thanks Mike. I am aware that it is fake. But the message in it is REAL. Dave the trader just made a video to bring some key points home.



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Since you've posted this a bunch of times, I just want to make sure you know it's fake.

Mike


What do you mean it's fake........I can totally relate to this video as I use to think the same way with the same results.....lol.........Thank goodness the Market Gods led me to this forum.

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The Russell is only about 200 ticks away from completing a 10% correction.......I'm not suggesting any thing....Just food for thought.

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 mfbreakout 
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it helps to look at weekly/monthly charts. I look at them every day even though price may be 300-500 ticks away from any support or resistance. I used to think what's the point at looking at them? Prices/Levels on these weekly charts are so far away from any support or resistance. In simple terms, it helps to keep things in perespective.



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 mfbreakout 
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I am leaning more and more towards swing trading especially with CC, ZW, ZS, KC etc. GC, CL, TF still day trading.

Based off weekly chart of GC and macro factors. Key being REAL INTEREST rates. I shorted GC around 1227 area. Target always is daily ATR which is around 14 points or at least thats what i try to target.



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 mfbreakout 
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I did it for years and quite successfully. However, if one wants to get on with the game, focusing on price path of any instruement, for example CL for next 30 ticks, 2 points in TF etc is as USEFULL as TITS on a BULL. When i was trading for 30 ticks etc main problem was that i was bullish or bearish within the same day, hour, 30 minutes etc you name it . I read my old posts and foolishness of that approach is beyond being funny ( if one wants to move to the next level).
Example, CL is at 91.50 buyers in full control and 30 minutes later CL at 90.50, now bears have taken control, short it. Wrong in both cases and back to zero.

By the way short CL 93.10 area this morning as CL was showcasing bulls/buyers in full control. Instead of worrying about if CL will go to 93.50, 93.80 etc I know what needs to happen for me to turn bullish on CL. Whether CL pulls back from 93.10, 93.40, etc is not i worry about.

NOTE: If one has plan to move from scalping to next level, it will not come easy. It took me 4 years and if one is happy with scalping, DON'T WORRY BE HAPPY. Just do not mix different styles.



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 mfbreakout 
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I hope no one expected for TF to just sell off or snap back up 10 points within first hour from NY open? More likely scenario was some rotation and back and forth movement.
Internals are +ve, so treid long 1106.50, out some 1111 area and looking to add on pullback. I am not sure why traders spend time on price. Yesterday at 1106 area there were no buyers and today there are. If one went long yesterday at 1106, he got surprised and if he decided to hold the trade overnight- he got nothing but anxiety. That's why i ONLY trade TF, NQ etc when majority of the players are on the field.



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 mfbreakout 
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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.



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 mfbreakout 
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I am leaning more and more towards swing trading especially with CC, ZW, ZS, KC etc. GC, CL, TF still day trading.

Based off weekly chart of GC and macro factors. Key being REAL INTEREST rates. I shorted GC around 1227 area. Target always is daily ATR which is around 14 points or at least thats what i try to target.

Out of GC short 1215. flat.



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 mfbreakout 
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I will not name the trader but CL had him doing a new kind of dance- TICK dance.


1) His indicators were bullish this morning. Long 93.04 stop loss 92.89. Target 93.50. Got stopped out.

2) When CL failed to test yesterday high and was at 92.80, his indicators were sell, sell. Short 92.79. Stop loss 93.11.
traget yesterday low 92.20 area. Out some 92.66 as price stalled and stopped out on rest.

3) Bullish again. Long 92.95. and stopped out 92.79 after he made up his mind that he is not doing anything till either his target gets hit or he got stopped out.

He is done for the day. He does not like CL song and dance.

There is not much difference between his and my trades except i do not worry about stop loss within randomness.

1) Short 93.11. Cover some 92.64 at ORL. Flat 92.72 after 20 minutes.

2) reshort 93.16 and still holding shorts. I was hoping for a FLUSH to the upside but no go. FLUSH up would have allowed me to short with size.

I told him to seek out a " Black Magic Woman" if he wants precision but no guarantees because there is no uncovering of algos " Black Magic Box".




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 mfbreakout 
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Light up.



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 mfbreakout 
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Pullback in NKD came. Long.



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 mfbreakout 
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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.



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 mfbreakout 
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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.



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 mfbreakout 
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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.



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 Big Mike 
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I wonder why is it no one asks these questions in your thread?

Mike

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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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 mfbreakout 
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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.



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 mfbreakout 
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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.
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 Big Mike 
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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

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

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 mfbreakout 
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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.



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 madLyfe 
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ive been asking questions. some of them in PM with sharing charts and getting opinions. ive really opened up my trading with some of these concepts combined with past knowledge. i dont/cant hold overnight so i have to be pretty accurate on my direction during the day. almost as important as my tgt areas for expected moves.

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

\_(ツ)_/

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

I hope you do not go through my journey which bascially involved so much lossess and pain that i finally said F___ everyone and everything and trade differently from everything i had in my mind.
I finally realized that totally opposite results ONLY comes from totally different thinking/approach. I could have just crusised along, two steps forward and one step back ward, 20 ticks here, 30 ticks there, up and down. But that approached finally reached it's limits.

This is very common for home gamers. No one to report. That's why at professional firms you either prove or out in 6 months. But lot of us like myself had no chance in hell that any firm will hire. Lot of us are OLD NEWS- not just by age but other ways also. Everyday in " Introduce Yourself" section , one can see traders trading for 2 years, 5 years etc and still looking for answers. The entire quest seems to be " Low risk defined entry for quick results".

Luckily you are way ahead where i was at your trading career stage.

My change came when i noted " It was a pretty good week of trading. Didn't make much. But more importantly i lost so much money that i got into my senses".



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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My change came when i noted " It was a pretty good week of trading. Didn't make much. But more importantly i lost so much money that i got into my senses".

LOL......Good one

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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.


something like this is what you say?:




thanks for all your advices!
i was trying to find out :scalp/severlas points and you give a clear direction

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Light up.

hi, that indi mark the orl, orh? are they from tradestation?
i try to find out what are they, one day look one thing an another day look other thing?
what are they ?

thanks for your help

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 mfbreakout 
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hi, that indi mark the orl, orh? are they from tradestation?
i try to find out what are they, one day look one thing an another day look other thing?
what are they ?

thanks for your help

On my charts from Think Or Swim 2 cyan lines show 45 minutes OR for CL. I use 8.30 am to 9.15 am eastern time OR. Fat Tails have these available for free for Ninja Trader.

For TOS, one can purchase from ThinkScripter | thinkScript Indicators for thinkorswim



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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On my charts from Think Or Swim 2 cyan lines show 45 minutes OR for CL. I use 8.30 am to 9.15 am eastern time OR. Fat Tails have these available for free for Ninja Trader.

For TOS, one can purchase from ThinkScripter | thinkScript Indicators for thinkorswim

thanks, i am using the or in nT, and i am watching them and testing different things to see if it make sense to me, for example, 2,15,60, but i did not realized that yours was45min.
when you say for cl, does mean that each product use different OR?, in that case what do you use for nq?and tf?

the zero lag is from harry?
thanks

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alejo View Post
thanks, i am using the or in nT, and i am watching them and testing different things to see if it make sense to me, for example, 2,15,60, but i did not realized that yours was45min.
when you say for cl, does mean that each product use different OR?, in that case what do you use for nq?and tf?

the zero lag is from harry?
thanks



For TF, NQ, ES, i use 20 minutes OR, starting at 9.30 am NY open. Harry does not have anything for ThinkorSwim. He only writes for Ninja. I am sure he has one for ninja. It's a pretty simple code.

Key point about OR is that narrow time frame OR like 5 minutes can have lot of noise. Traders with quick hands use narrow OR. I use 20 minutes OR for things to settle down. It's a trade off. A trader using wide OR can miss lot of moves and has to wait patiently for a pullback. Once you get settled upon an OR- do not mix different OR.



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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Why i keep shorting PL, PA etc. No longs. Any bounces have been shortable for weeks and months.



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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Shorts positions across the board.

1) CL around 93.40 area.

2) NG 4.05 area

3) GC around 1222 area.

4) TF around 1106 area. Plan to add to shorts if weamness continues during NY open. Have to wait for OR and internals to give clues for trade location.


They all have one thing in common except NG. They are in a bearish trend on any 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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Nothing is moving at a pace i would like or the direction. Time to listen to Wiilie and chill out. Staying with shorts. Cover some.




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 surprised that TF moved 15 points to the upside off ORL. There were no longs for me. Just 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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No surprises from CL but no longs for me. Just shorts. I am not betting that CL may not go higher. I use ATR of 160 to 200 ticks for CL. So, there may be still room left for CL to move higher. A trader has to recognize that and trade accordingly. Some times, CL moves beyond 200 ticks in one direction also but it's not common. On Friday CL pulled back from 93.86 area , who knows from where it will pullback today- if at all. I try to trade 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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mfbreakout View Post
No surprises from CL but no longs for me. Just shorts. I am not betting that CL may not go higher. I use ATR of 160 to 200 ticks for CL. So, there may be still room left for CL to move higher. A trader has to recognize that and trade accordingly. Some times, CL moves beyond 200 ticks in one direction also but it's not common. On Friday CL pulled back from 93.86 area , who knows from where it will pullback today- if at all. I try to trade probabilities.

Well CL did not had FLUSH up to the upside, just slow up move with 20-30 ticks pullbacks. These slow up moves without Volume and much of a pullback are tough to trade. One never knows how high it will go and when the pullback will come. I am still holding my shorts from 94.25 area.

Got lucky with TF. Based off -ve market internals my shorts worked out. I was planning to add to shorts but due to short position in CL decided to cover shorts around 1108.



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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" They all have one thing in common except NG. They are in a bearish trend on any 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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The November crude oil daily value has risen over the past four trading days. The market, however, remains within the 8999-to-9412 three-week balance high. On Friday, September 26, 2014, crude oil spiked higher during the final hour of the pit session and came within thirty ticks of that 9412 three-week balance high.

When a volatile market such as crude oil trades near or outside a balance range extreme, the following are the two most likely scenarios:

Trade outside the balance extreme and accelerate
Trade outside or near the balance extreme, get rejected, and then begin a rotation to the opposite end of the balance range
If the market gains acceptance above the 9412 three-week balance high, it may test the next 9507 reference. With acceptance above the 9507 reference, the market may test the 9717 reference.

If the market fails to gain traction above the 9412 balance-bracket high, then the market may begin a rotation back down to the 8988 balance low.

NOTE: This note from Just Joe Charts has lot of IF and MAY. If there is acceptance above 94.12 , 95.07 may get tested and so on. All, i know i am not putting on a new long at highs. If taking shorts, one just have to be aware of that ranges get tested and shorts around 94.20 to 94.50 area require wide 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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Nikkie. Long off ORL.



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 bullish trend is intact. Added to long today on pullback.



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's time to visit one of the most important videos regarding trading as far i am concerned. As usual when i first found this video i had following responses;

1) I was amazed that a 14 year old kid can produce and explain auction market theory in such a simple way. I had read and watched dozen of books, webinars but this is the best.

2) Since i was stressed out during this period, i said to myself that i have no talent for trading. Look at this 14 year old kid and look at me with all the education and experience and i could not come up with a simple explanation of auction market theory. I will go through this kind of dialogue with myself from time to time.

3) I got the concept but could not implement it. I mean how does one find edges of a BELL CURVE? What is high and what is low of a bell curve? I started using daily ATR. However daily ATR is not a fixed number. For example, if CL had moved up from 91 to 92.60 ( 160 ticks) and CL is in a macro bearish trend, i will short 92.50 with a stop loss at 92.71. I will use most commonly used tools to make sure up move is over. It felt like the entire market was after my stop loss. I will get stopped out and CL will pullback 100+ ticks in front of my eyes while i was blaming myself that 92.50 area was not the IDEAL LOCATION for short. I should have been patient and shorted at 92.81 with a stop loss at 93.01. I will go through all kinds of plans to make sure next time i do not make this mistake.

NOTE: I am using a simplified example to make a point.

Let's use the same example of CL up move from 91 to 92.60 in a macro bearish trend. I will wait for CL to come to 92.90 area to short but the bastard jumping rabbit will reverse from 92.70 this time. My indicators are hinting that reversal is on hand but (indicators were also hinting last time when i shorted at 92.50) i do not take the trade. I am being disciplined. Well, i sure was disciplned but ended up with mikeymouse trades with nothing to show for.

4) I forgot about this video. Sure, the author says that one can risk 20 cents to make 100 cents but what the hell he knows, he is just a kid- my inner voice will reason. I kept wandering in TRADING JUNGLE looking at order flow, special supply and demand zones etc. but no go.

5) To cut the long story short i finally realized that i have most of trading concepts correct but i keep getting hosed with this idea of risk 1 to make 2 or 3 or 5 times. Why not? Everyone says the same thing plus it's backed by math ( i was never found of math by the way and it's too late now). I will experiment with stop loss away from all the noise but will chicken out after i calculate that on 2 cars in CL my stop loss will be $3,000. Who in his right mind will use $3,000 stop loss when he has not even made $3,000?

We all have heard that each trader have to find his own path. I finally let the LED OUT and decided on following. Some of these are against conventional trading folk lore but i do not care, they work for me.

1) Not every trade will turn out to be where one risk 1 and make 3, or 5 etc. Actually, there are lot of set ups where i risk 3 and make 1 all the time. Funny thing it's only risk when trade is put on and one is afraid of getting stopped out. I have not been hit by a disaster stop loss. Since, i have never been hit by a disaster stop loss- this strategy is least risky for me.

2) One can not trade every set up where one is risking 3 to make 1 regardless of whether one stop loss is hit or not. That's where concept of PORTFOLIO MANAGEMENT comes in. I may be risking 3 to make 1 in CL but at the same time i have trades in TF, CC, NG, GC etc. I look at portfolio as a whole and manage risk of the portfolio at least on 1:1 ratio.
3) I add to my positions even if i have intra day draw down on the trade. For example, i was short CL 94.10, 94.50 yesterday and held my shorts. I added to short 94.74 during Globex session. I increase size if i have conviction. Thus , short at 94.74 had triple the size of position size vs short at 94.10. I covered some 94.30 and suddenly based upon my P&L i am looking like a genius. I am also aware of CL jumping back up and that's why i covered some. I like high flying kites.
4) I realized that one trade or a series of trade doe not make a career.
5) I believe in Mark Fisher concept of NEXT. Take a trade. If it works, it's good. If it does not work, move on to the NEXT. There are dozens of trades across different instruements every day. Do not get stuck with just one trade/idea etc.
6) Stay away from SCALPING at all cost. You will never ever develop habit to look at Forest. In fact you will not even look at trees. You will be just stuck in your own imagination of so called support and resistance which has nothing to do with the market.
7) Once i adjusted stop loss based upon market structure vs use tight stop loss , keep getting hit and keep coming back for more till one works, everything else in the video looks like MAGIC.
8) After all the home work is done, i need to have a trade on to get REALLY focused. Otherwise, it's just waste of time. I used to not have any trade on but will say CL will do this and that to myself and get amazed as to how i am picking spots. The moment i will put on a trade something will not go as i thought it wil. For example, i still have shorts on in CL and i can feel the flow. If i did not had trade on and i am saying to myself, 94.90 is the high and CL may pullback to 93.70- it has NO VALUE for me. It actually confuses the heck out of me. One needs to be in the game to play the game. That's why i shorted 94.10 to have skin in the game with fully being aware of probability of CL going higher 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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staying the course and trading 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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Added to shorts into bounce 94.73 area. Cover some 93.70 and 93.50 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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 mfbreakout 
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Added to shorts into bounce 94.73 area. Cover some 93.70 and 93.50 area.


No longs for me. Holding shorts. It's personal choice. My man Willie song " Still Movin to me" is about 3.31 minutes. Another musician could have written same sone in 3 minutes etc. However, same song for 2 minutes will be awful just like longs around 94.50 area this 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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 alejo 
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No longs for me. Holding shorts. It's personal choice. My man Willie song " Still Movin to me" is about 3.31 minutes. Another musician could have written same sone in 3 minutes etc. However, same song for 2 minutes will be awful just like longs around 94.50 area this morning.

i was seeing cl sliping at-2.5%
master!!

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 alejo 
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with your size, maybe you got smackdown cl at 9474

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 mfbreakout 
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Wow " No longs for me. Holding shorts. It's personal choice. My man Willie song " Still Movin to me" is about 3.31 minutes. Another musician could have written same sone in 3 minutes etc. However, same song for 2 minutes will be awful just like longs around 94.50 area this morning."

CL surprises all the time. Direction was clear. When and how the path will be travelled is beyond my skillset. Covered shorts around 92.


Trying to see if sellers are done and we are back to BOX trading/ rotation. Not sure yet. Small longs around 91.23 area. Dangerous area for longs if one is worried about traditional cute 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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 madLyfe 
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similar situations in similar areas:


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

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 mfbreakout 
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Shorted TF NY open and when price stalled at ORL- covered . Reshort into bounce around ORH area and still holding some.



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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Shorted TF NY open and when price stalled at ORL- covered . Reshort into bounce around ORH area and still holding some.

Out flat 1103 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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Wow " No longs for me. Holding shorts. It's personal choice. My man Willie song " Still Movin to me" is about 3.31 minutes. Another musician could have written same sone in 3 minutes etc. However, same song for 2 minutes will be awful just like longs around 94.50 area this morning."

CL surprises all the time. Direction was clear. When and how the path will be travelled is beyond my skillset. Covered shorts around 92.


Trying to see if sellers are done and we are back to BOX trading/ rotation. Not sure yet. Small longs around 91.23 area. Dangerous area for longs if one is worried about traditional cute stop loss.


Out flat 91.32. There are no buyers. I will rather buy higher rather than guessing when buyers will show up. Gave enough time for PRINCE to show up on a WHITE horse to rescue CL but no go. Probability of one more FLUSH down is high and if no flush down then i will not mind buying at highs once 91.60 area is cleared. It can RUN once 91.60 area is cleared. Longs on pullback once 91.60 cleared is a better set up but we may not get pullback. That's where position size comes in.



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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Out flat 91.32. There are no buyers. I will rather buy higher rather than guessing when buyers will show up. Gave enough time for PRINCE to show up on a WHITE horse to rescue CL but no go. Probability of one more FLUSH down is high and if no flush down then i will not mind buying at highs once 91.60 area is cleared. It can RUN once 91.60 area is cleared. Longs on pullback once 91.60 cleared is a better set up but we may not get pullback. That's where position size comes in.


Sitting on hands for CL. This is why discretionary traders can blow alogs out of water. This can not be coded ahead of time and expect CL will do this and that. One can code typical price patterns but not something like today. Once all the players are on the field , discretionary trader can trade probabilities.

Why CL is not clearing 91.60, i have no idea. Will it do? I have no idea. If and when it does, we know what to do. Till then wait for next flush down. No flush down and no clearance of 91.60- then there is NO TRADE for me- at least today. Binary options in play now and there are no clean set ups except for the EXPERIENCED traders and even then i will not trade with size. For last 2 hours CL in a 40 ticks range- there is no edge for discretionary traders in 40 ticks range.



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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How bigger time frame traders take away all the goodies in ONE day. They seem to show up when macro trend underway gets out of line and they are happy to put CL back within the trend.



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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ONLY shorts in TF all day. On every bounce. TF have been weakest of major idicies and shorts have pretty good odds of having an upper hand on most days.

Testing a new set up in TF. Set up is to hold shorts into Globex when close is so weak. Cover most 1096 area and stop loss on rest 1102.



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 cmmichaels 
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This is a phenomenal thread thanks again for everything you do for the community MFB.

Can I ask if you don't mind, what do you use to define your trend? Would it be 2 yellow and one pink EMA or something different?

I'm just curious as you've mentioned how it can pull back 120 ticks but the trend is still down etc, maybe its just HH and HL on a longer term.

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 Bsinks 
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May not be my place to answer.......But MFB will just simply look at a longer time frame ( daily and weekly) to get the overall trend of a market.

This is kinda of test for myself.

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 cmmichaels 
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May not be my place to answer.......But MFB will just simply look at a longer time frame ( daily and weekly) to get the overall trend of a market.

This is kinda of test for myself.

Thanks for the reply I thought it may be that... I know its not some special sauce just curious.

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 mfbreakout 
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This is a phenomenal thread thanks again for everything you do for the community MFB.

Can I ask if you don't mind, what do you use to define your trend? Would it be 2 yellow and one pink EMA or something different?

I'm just curious as you've mentioned how it can pull back 120 ticks but the trend is still down etc, maybe its just HH and HL on a longer term.

It's helpful to first look at big picture with weekly and daily chart. No lines on it. Just chart. I was using 21 EMA for some time on smaller time frame like 5 and 15 minutes to get some sense on a shorter time frame, Now, i am testing 2 EMA's .Both 30 EMA's. One shows high of 30 ema and the other shows low of 30 EMA. Damon Pavlatos did a webinar at futures.io (formerly BMT) couple of weeks ago. He uses them, so i am testing them.

However, any tool like MA, MACD etc comes after the context. Context first everything latter to just feel good or feel in control. Attached 2 charts, shows that a trader should be able to trade and know just by looking at them as to what is the trend. One does not need any tools to trade this chart. Tools just help with execution little bit better. Problem is that when a trader looks at weekly, daily chart for trend and then uses tools on a smaller time frame for execution- there is a conflict. ONLY way i know to tackle this is to keep Average True Range of an instruement in mind. If ATR for PL is 20 points and it's already down 20 points on the day, i am not shorting it. I have to wait for a bounce. How about longs? There are none. I have moved away from trading both sides intra day. For example, in this example of Platnium, if i try long, it will be for a SCALP. Since, i am trading 4-6 instruements every day, i do not have much time left for scalps. When i was just trading CL all day for 4 years, i used to do that. That was not good. I wish i was trading at least 2-3 instruements right from the start. There were more opportunities in PL over last 3 months than any other instruement but people talk about trading ES for 2 full points all day with lines on the chart that make it look like that they are solving a solution for WORLD PEACE.



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- weekly bar has not closed yet but i am being cautious.



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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Secret Sauce and it's free. Enjoy, Relax and let the trade work 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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 mfbreakout 
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Everyone can see why CL stopped around 91 area. My trading set ups do not call for longs and hold during Globex.
What's the next thing a trader can do? For me, ONLY question is where can i short? I am short 91.70, 91 area. I am not couting that CL will just stop at 91. I am trading probabilities and ranges. If massive short squueze or buying shows up before DOE report, i will step aside and wait for DOE report. If price moves up without conviction, will add to shorts.

We have DOE report today. CL will trade in a tight rnage till then. After 10.30, we will know if 90.80 area is low for this week and what will be high.



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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GOLD.



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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