Thanks NoDoji for the detailed explanation. I will pay more close attention at those BO price levels and most probably go with the trend. I would definitely donate to the charity but from the profit I make trading CL not by blindly fading strong bull trend
Anyone here fully automated? I'm going to start posting my trades here next week . Some days I will not get a signal. I figure that I better adapt and start using a computer to trade since that seems the way of the future. I have a method that is good on paper but we shall see how it does live. See you all next week.
I'm in the process of automating, because I've been struggling so badly with trading all my valid setups instead of picking out setups I think are the best. (Some of the best-looking setups fail quickly and some of scariest-looking ones result in 60-100+ tick moves.) The funny thing is that once the major execution bugs were worked out of the program recently and I saw what happened when it traded all valid setups regardless of news, trend, 20-bar MA, moon in the 7th house, or Mercury in retrograde, it gave me the confidence to trade a whole lot more of my setups. I know this will come as a complete shock to those of you who know me, but I actually had seven LONG trades last week
exit .79 startraitor Registered: Jan 2008 Posts: 2351 09-26-10 06:40 PM add .69 -------------------------------------------------------------------------------- Quote from startraitor: long 76.78 --------------------------------------------------------------------------------
How do you guys/gals reverse your position as soon as you find out that you have entered a false BO with not much impact to slippage and also not missing the strong reversal move. I use bracket orders for entry. Today morning I took the long BO at 7:32 and 7:44 am and I soon realized that this is a false BO, but my hands were frozen , I did know if I need to click Reverse button which will be market order or put a sell limit order for double the position ( to get out and enter short ) .