which is exactly, precisely what the next step is once any trader has a real, true, no-doubt defined trading edge first step is finding an edge. second step is honing that edge thru trade management => self management third step is growing trade size in harmony with account balance. no serious trader ever plateaus at one futures contract or 100 shares of a stock and constantly fixates on how to squeeze out x-more cents per day serious traders learn how to pull an acceptable amount of profits from the market on a sustained basis, then gradually add contract or shares size accordingly the key is to master trade execution = self management aspects first. once you trust yourself with that, adding size is no longer harrowing. it is invigorating
http://news.sky.com/skynews/Home/Wo...Mirhossein_Mousavi_And_Mehdi_Karoubi_Arrested Not sure how much steam the Iranian protests planned for tomorrow will have (according to this headline) but they coupld play on the market possibly.............
The problem with the military intervention is that it sends a very bad message to the rest of the region, who are experiencing similar unrest. What should happen if Saudi Arabia, which U.S. considers its ally, violently clamps down on its protesters? Will we then step in and depose the monarchy? I doubt it. We're obviously playing the hypocrite card.
I think you could sleep late, wake up, wait for 1 good setup and get at least 10 ticks of profit for the day. Then you could trade longer term stocks and options.
I'm sure different charts work better for different products. I use the 1600 tick chart with slow stoch (per LBR) for ES and since using it have been consistently profitable (however don't trade it as much since volitility decreased). I've noticed that a simple 5 min chart seems to work better with CL...but I'm very much a CL novice.
I've had good experience using a 5min chart for CL, although there are some people here who use a 3min or use the 3min in combo with the 5 min.
YOU are setting your sights waaaay too low! I have a challenge for you tomorrow: Extract 40 ticks out of a CL trade, even if it takes 10 b/e trades to do it. Extra credit challenge: If price breaks your 40 tick soft target (no hard profit targets allowed), lock in 20 ticks and then see if you can get 60+ ticks out of the trade
Can I go for 20 ticks, I am not as rich as you? I might be able to do it for 1 trade, I have done so before.
2/18/11 Day Recap by Reuters Crude, gold drop as extra Saudi oil eases fear http://www.reuters.com/article/2011/02/28/businesspro-us-markets-commodities-idUSTRE71R80520110228 Commodity investors remained concerned about protests in the Middle East on Monday but Saudi Arabia's reassurance that it would pump more oil unwound gains in crude and gold, while U.S. cocoa futures rocketed to a 32-year peak after gun battles erupted in Ivory Coast. For February, most commodities showed monthly gains. For Monday's session, oil prices fell in volatile trading on expectations that increased production from Saudi Arabia would offset supply disruptions, after Libya's turmoil sent prices to 2-1/2-year peaks last week. Saudi Aramco CEO Khalid al-Falih told reporters extra supply needs caused by violent unrest in Libya had been made up, though he did not give exact figures saying it was "a moving picture." The Reuters Jeffries CRB index .CRB of 19 commodity prices rose slightly on Monday but posted a 3.25 percent gain for the month. Cotton and cocoa have paced the index's gains so far this year, and the light crude component is up 6.1 percent so far in 2011. (Graphic: link.reuters.com/kew48n ) Saudi Arabia's oil production promises pushed gold prices off session highs that approached 2011's peak levels, and the precious metal ended nearly even around $1,410 an ounce. Still, gold notched its biggest monthly gain since August, as chaos in Libya and rising tensions across the Middle East spurred safe haven purchases of the precious metal. Unrest across the Middle East and North Africa, which unseated leaders in Tunisia and Egypt before spreading across Libya, Bahrain, Yemen and other countries, fueled a 5.5 percent rise in gold prices in February. Those protests sent U.S. crude oil futures up 5.18 percent in Feb, for their best monthly result since December. On Monday, foreign powers accelerated efforts to oust Libyan leader Muammar Gaddafi as rebels fought government forces trying to take back strategic coastal cities on either side of the capital Tripoli. "The Saudi's are supposedly producing more, but on the supportive side there is still the uncertainty about how much the unrest in Africa and Middle East will spread and how long Libya's oil will be shut off," said Chris Dillman, analyst at Tradition Energy in Stamford, Connecticut Brent crude futures for April fell 34 cents to settle at $111.80 a barrel, off its $114.50 intraday