CL Redux

hit

 

i am short .27 stop .32 need .24 to break

 

Guess I should have grabbed my 15 when I had the chance.. out +1 at .26

 

short .18 stop .17

EDIT again, out +1 .17

 

Could just be my "hope" here but it feels like it wants to break down, hard

EDIT -- it was definitely my hope .. after I typed this, very heavy bids came in in the 10s and they never got filled and it started marching upward

 

I took went long against you and took a small scalp of profit. Hope you don't mind.

 

This is both the blessings and draw backs of CL. You can make your profit quicker, but if you are wrong you make your losses quicker. With ES, I could be in a trade for 2 hours just to make a scalping profit, and with CL, I could be in a trade for 5 min. Just need to remember to not over trade or revenge trade.

 

failed breakout for which i waited 40 minutes. long 89.12 out 89.46

 

Even as it took its second dip below .10 on weak volume, I thought to myself that it looked like a good long opportunity, even though I was short.. hard for me still to change bias that quickly to reverse, particularly on a day like today which has been anything but directional.

EDIT: on the bright side, at least I'm having this internal dialog with myself while I'm in the trade, IOW I'm recognizing it sooner, rather than being stubborn and averaging down, or moving my stop way up to give it room when it looks like a loser, and all those other mistakes that I have too commonly made.

 

After I put in my stop and target, the trade went with me right away, and I went down to watch TV so I would not move it. In hindsight I should have gone for more profit. But my goal was to just take this trade and win or lose stop trading for the day.