And if the position netted 100 ticks or more, would you have said that? Of course not. You're making a comment after the fact. Why didn't you post "your overnight stop loss is too wide" when the trade was originally posted, along with a technically valid reason why? Wouldn't you need a wider overnight stop loss to survive the random moves that often come during periods of low liquidity? Aren't you the same person who told me a while back that my 2-3 pt ES stops were too tight and I should use 10-20 pt stops? Or the one who averages down with NO stops? This is a CL trading thread with rules posted up front. If you're going to call trades, call them in real time. If you have successful trades and unsuccessful trades, post a chart or your trading blotter so we can see what worked and what didn't and why. That's my opinion and I'm sticking to it.
Ain't hindsight great? I took the risk based on news of Goldman (how crude reacted to the SEC charges and how Europe might have reacted to the news once they came online, but alas, the news story did not develop the way I hoped), and set the stop and target with a 2:1 risk/reward parameter. I wouldn't have doubled the position had it not been for yesterday's results, but felt it was overall a good reward for the minor NET risk.
I am learning, not consistently all, try hard to stick with consistent trading, but the damn market just keeps teasing me (give me more? take away my profit and more?), I am struggling with this two extreme, sometimes too bold, sometimes too timid, sometimes hold way too long, sometimes exit too quick. I thought the overnight stop should be the HOD, that is 85.63. that is why I bought it, but I use too tight stop, trail 1cent and out quickly.
I should not use 1cent trail stop (run a little bit then put it in), my standard stop is 30cents. I was testing tight stop, but tight stop actually hurts me. if I hold, I definitely hit my target of 86.13. made donations to my broker firm for commissions again. this really frustrated me, I do not want to donate so much fee to my broker, loud again.
you & real money trading = new U.S. Marine recruit skipping boot camp, basic training while being dropped off in the mountains of afghanistan to fight against hardened, combat veteran insurgency troops you have less than zero chance for fiscal survival, without proper learning and training completed first