Monday, Tuesday and Wednesday so far ( as of 9.17 eastern time ) shorts and shorts. Covered most cars around 102.76. Tight ranges plus long hold time is making it tough. I target minmimum of 40 ticks to avoid noise for majority of position and let the rest take me out or till i get maxium of daily range on the rest.
Out flat 102.58 in front of DOE report drama. I like No Doji Rule/observation as to how CL behaves on DOE report days.
Yep that blast from 103.90 to 104.20 area was with some FORCE. When force does not have a follow through- shorts in order. I was about to close short thinking CL may rip another 50-100 ticks. Decided to wait little and when no follow through- decided to hold. Due to lack of follow through, decided to reshort 103.45 into close yesterday and hold overnight. 102 finally got hit. It's a no mans territory for me now. Not sure if CL was being accumulated all day today or being distributed on any kind of bounce. I do not believe in forecasting beyond intra day range and therfore flat.
Final trade for trollers who scratch----- all day. Never have communicated with them and never will . I use ignore tab but they do not want to use it. I gueess they enjoy useless posts. Such is the depth of their existence.
I have known couple of traders who follow something like following " s0mmi Join Date: Apr 2013 Posts: 115 The top 3 guys who make more than 1 million a year at firm, have the following traits about their style of execution and strategy: 1. They don't have a real 'stop' in terms of dollars. They have one, in the back of their mind, which is equal to a good portion of what they leave in my prop firms bank account, but there's no way they will EVER enter a trade and go "Ahhh if I am 5 ticks offside here I'm down 100k and I exit." In fact every single one of them have a time stop utilized way more than a dollar stop. 2. Averaging is extremely necessary. All 3 of them collect. How you do it, is completely up to you... your own 'stye' of collection. But they are definitely not in/out click-n-go guys 3. Their time frames utilize the entire session of the day most of the time. They are not about the bid/offer garbage little game which is ever-more-so saturated with bots and algorithms today
I sold all my bearish straddles today since (102.80 was my target) for a fraction of what I would have made if I just went short since IVhasn't done shit. I wanted to get long at 101.70 so that kind of sucks that I wasn't paying attention. So now I just wait for the next setup.
Reminder: This is a LIVE CALL thread. Respect the OP There's a million other 'hindsight/after-the-event' threads to post on/