CL Redux

Discussion in 'Journals' started by schizo, Oct 9, 2009.

  1. NoDoji

    NoDoji

    A breakout should take price 8-10 ticks in your favor pretty quickly (pre-market may be a little less). If it fails, I personally close out very quickly at break even or close to it and if conditions are right (like a failure at an extreme such as the high or low of the day) and I'm alert (haha) I will quickly put on a new trade in the opposite direction. How you do this most easily on your platform I don't know. I use a DOM (price ladder) and just click in the price with a marketable limit order, or sometimes if I'm fast enough I use a double-size stop order to exit one position and enter the opposite.
     
    #10951     Sep 27, 2010
  2. NoDoji

    NoDoji

    From reviewing the action, it looks like b/o's in the overnight session are not very strong.
     
    #10952     Sep 27, 2010
  3. NoDoji

    NoDoji

    Do you ever see a high and wonder what idiot bought that high tick?

    :p
     
    #10953     Sep 27, 2010
  4. Picaso

    Picaso

    It happens to the very best and it's certainly bound to happen every once in a while when you buy breakouts.

    The important thing is the expectancy over time.

    So for you, that's just another anecdote. :)
     
    #10954     Sep 27, 2010
  5. dejavu8

    dejavu8

    shorted with a quick exit:)
     
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    #10955     Sep 27, 2010
  6. ammo

    ammo

    a schizo reverse
     
    #10956     Sep 27, 2010
  7. NoDoji

    NoDoji

    I reversed short and was trailing my profit target after the 20-tick minimum by 10 ticks at a time and couldn't move it lower fast enough because my DOM didn't re-center the price, then I didn't want to chase a re-entry cause it looked "too low" :eek:

    By the way, my trades this morning are a good example of don't give up till you catch a damn fish!
     
    #10957     Sep 27, 2010
  8. EON Kid

    EON Kid

    WTG D :cool:
     
    #10958     Sep 27, 2010
  9. blox87

    blox87 Guest

    Nice trading No Doji:cool:
     
    #10959     Sep 27, 2010
  10. blox87

    blox87 Guest

    Short 75.64
     
    #10960     Sep 27, 2010