hey @Maverick74 , terrible start to this journal eh? Where's your live calls btw, I'd like to peek in.
The print I am looking for now that would be significant and add creedence to the bull case is 47.76.
There is a decent chance that I have moved my stop too close to the noise here. I don't move stops away from the trade though once I have them in place, so no adjustment for this stop. We're about a dollar above the stop currently.--Ishmael
Terrible. The guy averaged down into a 9 pt selloff in CL. Got stopped twice and kept adding. Yeah, some real skill on display here. I have a thread I've been running for 8 years on this site. You should check it out sometime.
Reader--I never average down. I am all in all out each time. Stops give me a way of reevaluating with a clear mind and also limit losses.
Stopping out and re-entering immediately is the same thing. REFUSAL TO ACCEPT A LOSS. It's what eventually dooms all traders.
Reader and Maverick74--I entered a little too early on my long and once stopped out, I had a chance to take a look and see if the bull case was still in vogue. In this instance it was and I certainly would not have been shorting. Averaging down might have actually have been better for me in this case because I might have had a better average price, but over the long haul averaging down will be inferior to all in all out. One other item to mention--I was stopped out the second time at 45.20 and I reentered long at 44.15, so using the stop I was able to save 1.05.
We may be getting ahead of ourselves here. I don't like it when things too quickly in my favor. It begins to smack of overdone. Staying long at the moment, but watching closely.
EIA - EAI - Oh! Nice EAI crude inventory price action. 2 trades today, first one was hard as blazes to hold through news, but that's what trailing stops are for. Second trade - fade from new relative highs offered 20-40 ticks.