you know, builder, i was thinking of targets and maybe focusing on a target range is better than any specific price, any thoughts?
agree. in the past, being too greedy for the exact tick has only hurt me. depends on time frame tho. scaling out is a good alternative if trading mult. contracts
Vis, here were my thoughts around the time of the report today: "Yesterday's low was 104.60 and the overnight high was 105.50. The test of yesterday's low was a 3-tick failed breakout. If it looks like a range it should trade like a range. I'll betcha price will break thru the upside by 3 ticks, retest that .60 low zone again and if it breaks out a second time, there'll be a measured move target not too far from 104.00 based on yesterday's high. Heck I should just offer 5.51 and go lounge in pool all day." Is that what I did? Heck no!
Posting after a long time and following No Doji analysis of DOE days. Thankfully nothing have changed and hope fully will never change as far as RULES of day trading goes. What have changed for me over last 2 years ( last time i posted at Elite) is to get away from tight stop loss and use 100 ticks diaster stop loss. Trades from today and yesterday. Basically, i trade ADR ( Average Daily Range) with 100 ticks disaster stop loss and i am reversion to the mean type of trader.
There were 2 trades before 10.30 am DOE report. 1 short at NY open and 1 long right after DOE report. 1 short after DOE after CL failed to take out 105.50 with CONVICTION. I try to trade based off order flow.
I'm very confused. The CL charts look different on all the charts/programs I use. I'm not sure which one has the correct levels. On metatrader 4, Thinkorswim, Ninja, and Tradestation, all the CL charts line up differently. How do I know which one is correct?