CL Redux

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

  1. NoDoji

    NoDoji

    Thanks, BCE, very nice excerpt! The part above was quite interesting. I was triggered into a short position a couple weeks ago and price fell over 10 ticks my way right out of the gate and literally jumped back up above my entry price. My stop loss order was around 13 ticks and without hesitating I immediately added a 2nd stop order at the same price to reverse position if it triggered. The pending loss didn't bother me at all because if price broke back up through that level after buyers had stepped in so vehemently off the break down, it was then one of my favorite long setups and I was actually excited about it. It was the first time I truly did not care one bit about a loss because I felt that the result of reversing sides at that level would produce a significant profit, enough to make the loss seem meaningless in the end.
     
    #13761     Jan 5, 2011
  2. Covered remaining 1 at 89.55
     
    #13762     Jan 6, 2011
  3. :mad: 30 ticks here 30 ticks there, could mean having to rent that beach house in grand cayman instead of owning one over a 5 year period.
     
    #13763     Jan 6, 2011
  4. BCE

    BCE

    Good Morning :)

    Well got off to a late start today and just missed that opening pullback, the easiest most predictable move. Oh, well. I'm going to maybe just let it go for now. I was awake quite a bit in the middle of the night and actually was just thinking good thoughts about my life in general going forward in the next short while. Don't strike me down God now that I said that. Ha. :) And when I eventually got back to sleep it was late when I woke up. It all happens early here on the West Coast. :) Feeling good though. I enjoy sharing with all of you and learning together on this thread. I know together we're going to get even better. :)

    BTW here's a guy that many, including me, thought was one of the all time great posters on ET that I just discovered last night had started posting again a few months ago after years of absence. Check him out if you want.
    http://www.elitetrader.com/vb/showthread.php?s=&threadid=204198&perpage=6&pagenumber=1

    __________________
    We shall not cease from exploration
    And the end of all our exploring
    Will be to arrive where we started
    And know the place for the first time
    - T.S. Eliot -
     
    #13764     Jan 6, 2011
  5. I quit, good luck everyone

    <a href="http://s1219.photobucket.com/albums/dd438/bswansen1/?action=view&amp;current=iquit.jpg" target="_blank"><img src="http://i1219.photobucket.com/albums/dd438/bswansen1/iquit.jpg" border="0" alt="Photobucket"></a>
     
    #13765     Jan 6, 2011
  6. BCE

    BCE

    ES is sitting at short term support. Look out below. :)
     
    #13766     Jan 6, 2011
  7. BCE

    BCE

    :D :D :D Good luck to you too. Don't forget to send me my check for the call on those ES puts the other day. :)
     
    #13767     Jan 6, 2011
  8. BCE

    BCE

    You're welcome. :) Here's a thread devoted to this. http://www.elitetrader.com/vb/showthread.php?s=&threadid=213079
    I have a few more things to add. Not saying everyone should adapt George's risk strategies. But he makes some good points.

    I appreciate that you're always learning. And getting better at what we do. :)
     
    #13768     Jan 6, 2011
  9. BCE

    BCE

    I've been waiting for the market to call to ask me if we should retest those lows from yesterday. Still waiting and no one's called. Looks like it's doing it's own thing. :)
     
    #13769     Jan 6, 2011
  10. I have to keep remembering...

    It's never too low to short until I decide to short the LOD, then it will be too low to short. haha

    Picked up 20 on the ride back up though! .96 to .16 :)
     
    #13770     Jan 6, 2011