CL Redux

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

  1. gee cisco really ruined the bulls plan to move this up 40 points for the open tonight:...wallstreet is so crooked:0
     
    #12731     Nov 10, 2010
  2. NoDoji

    NoDoji

    Wow, I was trading CLF without stops to the long side at that time. Got lucky with it before it crashed, but not very lucky with many other swing trades at that time. :(
     
    #12732     Nov 10, 2010
  3. dejavu8

    dejavu8

    i'm extremely patient when a breakout happens and only enter my position when certain formation of signals in my system pops up. i usually don't place an order in a certain distance outside breakout unless it's already in the extreme zone, i.e. a fake breakout happens. that might be the major difference between our average down strategy.
     
    #12733     Nov 10, 2010
  4. Picaso

    Picaso


    You forgot to mention "with just one car"

    :D :p
     
    #12734     Nov 10, 2010
  5. nd, did you play that breakout today at 77.45ish.....? how much slippage did you get on that move?

    and are you just using booktrader to use your buystops on that breakout trade, how do you like booktrader for buystops, any technical failings? thanks
     
    #12735     Nov 10, 2010
  6. That's a great line. :)

    And thanks for you posts about your trading; I've started studying CL and find them very helpful.

    - palinuro
     
    #12736     Nov 10, 2010
  7. NoDoji

    NoDoji

    I had computer issues this morning and didn't start trading for a while. I was focused on 6E, very upset I missed a strong move off an excellent short signal, and only had 4 CL trades later in the day, no breakouts.

    I use booktrader and try to place my stop orders in advance to avoid slippage. Yesterday I placed my sell stop @ 85.95 well in advance of price getting there. I knew it was a major support level from both Friday and Monday and expected the breakout to be very strong. I got no slippage whatsoever on that trade.

    I've experienced no ongoing technical failings, just the slippage issue when I throw in a stop order just seconds before the breakout. The only time I do that is when I've become distracted and suddenly notice price is approaching the HOD or LOD and I have no order prepared in advance. I've had 4 and 8 ticks slippage doing that, and 15 ticks slippage when I did it during the inventory report last week. So I wouldn't recommend using a stop order to play a breakout during that report.
     
    #12737     Nov 11, 2010
  8. gella

    gella

    Yeah, and i was almost 10 pts in the money on 700 or 1000 shares and thought i could sit through until the bounce to minimize losses. Of course it took me out around 87 something for margin requirement and came back. The rest of positions in energy stocks were the same disaster. Way to learn ahead and thanks for that worcaholic aspiration you give to many of us. With a lot of respect, Irene. ;)
     
    #12738     Nov 11, 2010
  9. Is everyone taking the day off?? SELL SELL SELL 87.80
     
    #12739     Nov 11, 2010
  10. Damn stopped out sorry false alarm
     
    #12740     Nov 11, 2010