Hi ToBe, On your overnight CL trade, did you use a stop and if so, where did you place it? I haven't traded CL overnight yet and am curious about stop placement. Also I'm wondering if you added to the position; the P/L on that trade seems higher than the price went. NoD
Hi NoD, You're right that I added one more CL: BOT 1 CL JUL10 Futures 73.22 USD NYMEX 08:05:20 SLD 2 CL JUL10 Futures 74.53 USD NYMEX 16:13:13 SLD 1 ES JUN10 Futures 1103.50 USD GLOBEX 16:13:44 I didn't put stop for this trade. I thought about it but didn't know where to place it. Tight stop will be hit for sure because of big CL swing, and a loose stop is useless.
1 ES over night p/l, (closed position this morning): +10 pts. It's tough to day trade es these days. I'll be thinking to hold position for a little bit longer time and see which way is more profitable.
I tend to trade long rather than short, like most new traders, as long looks like easier than short. But the market is bi-directional. Patient is a key. Wait, wait and wait... for the best entry.