Yes, I believe it's sign! These lines are only on the 5-min CL chart and the ES daily chart and only in my sim account. Hmmm...maybe that's why I'm making tens of thousands of dollars a day in the sim account.... If I have time end of day I'll post a chart.
I don't have any on my charts. I can put them on with the add horizontal trendline button Other than that it is a mystery
My plan was no trades until after the news, but after the news the market was really choppy, so I decided to work in the sim account, honing my skills. CL was a choppy mess after the open and after working way too hard to net $93, I switched to with ES, utilizing a strategy that Hog reminded me of in one of his recent posts. I wanted to adapt it to a particular ES trading style Iâve settled on and find out how well it worked, how well I could manage the trades for maximum profit and what the worst case scenario assuming several trades took out at max loss. The tactic worked beautifully because of the choppy, ranging market. When price hit the upper channel line, I was short with a 5pt stop (thatâs my max loss per trade). If price continued up with a significant channel line overshoot, I doubled down, leaving the stop in place. Vice versa for long positions. My trades either pulled back to the EMA right away, or the double down strategy gave me significant price improvement and again a profitable trade. As for the maximum profit part of it, I failed utterly, leaving more on the table than I took 2/3 of the time. Hereâs what I kept doing: On trades that moved my way quickly, Iâd take profits at the EMA where the inevitable pivot always happens (except in strong momentum moves), only watch the price pause and continue my way without me to test the opposite channel line. On double downers, I would nervously take small profits when the overshoot moved back to the channel line (again price tried to uphold the trend there which made me nervous), only to see price move all the way back through the EMA and often to the opposite channel line! I imagine since my win rate is above average I could have worse problems than this, but I just keep thinking how patient I've been as a trader holding losers and waiting for them to come back to at least break even. Why not that patient with winners??? I need to allow MAX WINS as often as possible. I'd love to get better at managing this this. I guess scaling is the way, but I'm only trading one car right now except with the double down strategy.
LMAO! Mystery solved! I run my sim account on a separate PC with 2 monitors, so I have to layer DOMs and charts over one another. I use the horizontal trendline to hover at areas an check the price, so that button's active on my intraday charts. I never click on it though when actively viewing a chart. However...when I'm sim trading and then click on the chart that's nested behind the DOM it leaves a white line wherever I click.
Wow! The higher they fly, the harder they fall. Just came back to my office and saw STEC in the 15's! Not long ago as STEC was falling (in the mid 20's), I told the guys in R's trading room I had a buy order @ 12.84 and thought from the looks of the price action it might get there soon. Maybe sooner than than I thought.
Yes, this is similar to how I've been trading CL in my sim account. I "see" it without drawing the lines, but the pushes down and breakouts have been indicating reversals to me.