Bought 74 PUT for $1.35 ($1350 ) , anxiety of job numbers may bring CL to 74 level some time tomorrow morning before report . Just wanted to use this PUT to play CL at 74 level
Here is my useless chart from today. I added a 5 min chart after i saw Nodoji's. Time based chart does a much better job of showing consolidation, breakouts and S/R. whereas vol chart as usual is great for showing trends. schizo, sorry your trade didn't work out. It did look on the daily chart that CL was headed for a second leg down to 68. We are starting our labor day vacation a little early. I will see you guys on Tuesday. Have a good safe labor day.
It sure is. I have some days when I really think I'm making progress toward pure technical, mechanical trading, only to start over thinking everything the next day. I did miss a chunk of the trading day today due to sleep, but when I returned, I traded only one out of a few valid signals because I made a decision that price couldn't go up further enough to make the long signals worth taking. Why? Because on the first long signal there were lower highs preceding it, and then on the next long signal, it was because there was a double top failure to make a new high preceding it. Never mind that they were both standard with-trend pullback entry triggers. The first one was good for a 30-tick move and the second one was good for over 60 ticks. So by making a decision that these particular trade signals didn't carry as much weight as others, I chose the weak trade and passed on two strong trades. Also, on my limited trades today, I tried to let winners run and gave back all $480 of profit that showed. :eek:
Schizo, when price approached 74.87, I put Skype on mute and shouted "Die, CL, die!" for you as loudly as I could, but it didn't work!
Has anyone ever been to a Traders Expo? There's one coming up next month in Las Vegas that I was thinking about attending. I know it's primarily a sales event, but I thought it might be fun.
I was thinking about it but , then I hate when people push hard for sales, it makes me unconformable.