I also did a long CL trade today. However, is it really counter trend or actually a reversal of trend or a continuation of a previous yearly trend.
If, in my time frame, price has been moving down a lot and now is in the process of moving down a lot more and without any signal whatsoever that the move is over, I decide to go long, that is pure counter-trend.
You can run multiple instances of TWS on the same computer. No problem at all. Just run your TWS twice - log in one with the regular account, the other time with the paper account. You do want to change the API port on one of them (either) from the default 7496 to something else... let's say 7499 or whatever for the paper version. Check the menu option Configure > API > All API settings. Then run IB's DOM or if you are using other apps to connect to TWS, just set them to appropriate ports: 7496 if you want to trade live, or 7499 if you want to trade paper.
GM everyone. Value Areas for today if you are interest it: VAH=81.74 PoC=80.63 VAL=80.15 Good luck to all of you.
About 45 mins after I made this trade I had some major computer issues. I'm still short 2 contracts and am pretty much right where I left off. For today I'm placing a stop at 81.65 but then will add another short 3 contracts at around 82.30 if we get there. If we get below 80.80, 80 will seem like a given. have a good day I've got to get in as much golf as I can before it gets to cold!
fwiw: heads up on the start of G-20 meeting in Seoul today. All G-anything meetings usually churn currency markets to a froth, with out-of-blue spikes and dives at any point on the chart. don't be a hero today... work it with caution if you aren't already done for the session