Glad you made some money at least. Just think how happy your broker is though. Maybe your stops are too close = getting stopped out too much. Or maybe your entries were at the top or bottom, as the case may be, of the previous bars.
Several long-legged and neutral dojis for NQ in the last 3 hours. Market's going no where in a hurry. ADD Looks like CL is heading down to test S1 again. Maybe it breaks down this trip. ADD 2 Trying 103.95 short with a 103.33 target and a tight stop.
I think my stops are too close do to using a normal stop. On my 1st trade trade, I should have finished watching the candle form and/or just put a limit order at the start of the candle (this way when the market went back up a little I would have been filled) so that if my stop was going to get hit, it would have shown that the market wanted to go higher for the day. Or I could have done what I did for my last order. Since I am using RTH charts (works better with my indicator) after 12 noon PST, the charts stop working. So while trend was down for the day we might have been forming a support. Since I could not see anything (except for the DOM), I set this order as a buy stop to get me in if the market decided it did in fact want to go up instead of guessing that we would go up. I took just a small scalp on this trade since it was late, and was not sure if we would really go much higher plus I would end up with a profit for the day. When market started going in my direction I did move the stop up a little so I would not take a big loss if it reversed.
It seems Brunt $2.5 up and Libyan oil TANK blow up does not bother CL market today .. in the hindsight there are some interesting clues, I did not see this bearishness because I am Biased to 'positive' close today for the 2 reasons Brunt $2 + positive and 'Libyan oil tank issues ' as I posted But the PA guys should have NOTICED these clues , attached is the chart 1/ it seems there are enough clues for some body who focused on price Action PA first retrace price could not break 105.20 which is the level passed by 3 hour worth of 5 min bars. 2/ on the second retrace from 104.11 , price could only reach 104.97 level , could not break 105 . this is 2 nd bearish signal on top of above one. This is one is real big BEARISH not able to break 105 by 3 ticks in the middle of the day. Need to focus more on KEY levels ( support , resistance ) in addition to your Baises .. - on the KEY levels front BCE done very good job of identifying them and pointing to the community in a timely manner . thanks BCE keep up this kind of good work ..
Its a good chart, in truth one could be short or long depending on when you want to enter since the swings are massive and you can make a profit either way although the overall direction is down. I was trying to see some correlation between ES and CL today, but really there was not one today.
Out b/e. Some guy on CNBC is pumping crude now. Sheesh! Why does that always happen when you take a position?
I went to UC Santa Barbara. Did you too? You know someone else on the board here PM'd me earlier and it turns out he lived here in SB too but just moved last weekend. Missed each other.
I puked out of my 850 UCO shares today. I was a little nervous and it seems liek this oil will indeed spike higher.. brent was up all day and it is now the leader of energy. Net $ -3,202 for the day. I got out of the UCO right at the top.. best I could have done ws down about 1400 yesterday... I have cost myself roughly 800 bucks from trying to hedge this biatch! I am sticking to intraday stuff. If I hold overnight it will bevery small size!!! anyway.. here are todays Trades. BOT 1 QM APR11 Futures 105.025 USD NYMEX 02:55:50 BookTrader 2.07 SLD 1 QM APR11 Futures 105.025 USD NYMEX 03:41:04 BookTrader 2.07 -4.14 + BOT 850 UCO Stock 57.200 USD ARCA 07:25:25 BookTrader 4.25 -2928.63 BOT 1 WTI APR11 Futures 105.01 USD IPE 03:01:01 BookTrader 2.40 BOT 1 WTI APR11 Futures 105.04 USD IPE 03:11:16 BookTrader 2.40 SLD 1 WTI APR11 Futures 104.97 USD IPE 03:12:38 BookTrader 2.40 -59.80 SLD 1 WTI APR11 Futures 104.89 USD IPE 03:19:53 BookTrader 2.40 -139.80 BOT 1 WTI APR11 Futures 104.98 USD IPE 03:37:02 BookTrader 2.40 SLD 1 WTI APR11 Futures 105.05 USD IPE 03:39:06 BookTrader 2.40 65.20 BOT 1 WTI APR11 Futures 105.60 USD IPE 07:18:57 BookTrader 2.40 SLD 1 WTI APR11 Futures 105.47 USD IPE 07:19:55 BookTrader 2.40 -134.80