I try for a 2:1 risk/reward ratio, but that ain't always possible, so I keep it open. But I always use the stop so y'all can see when I fail.
Stop moved to b/e Got distracted otherwise would have accomplished this 2:1 risk/reward trade, but did not have an order set. One thing I need to start doing is to double the trade size so that when price moves to a certain target and I adjust stop to b/e, I can exit half the trade and worse case scenario at least walk away with some profit. It's a little hard adjusting to the crude market coming from currencies and it's still taking a while to develop the right setup to trade this as opposed to how I trade fx.
Well, that sucks. Should have doubled size like I said so at least would have walked away with something but equities are turning here. As I have said, still learning. Will look for another signal and a different entry point and try to do a proper trade setup.
Coming from FX you'll do fine, just remember to keep an eye on the euro. Equities turned after the euro, which was jumping up due to (presumably) intervention by the SNB and Brits closing EUR/GBP positions before London's close. Best trading, Jorge
Seems ES testing the Feb and May lows at 1040 triggered some buying and the strong Euro move, also at 11:13 CL had some positive divergence to the ES making a LL, if you watch that sort of thing. Can you give us a general outline of your method?