You might want to look at Soybeans also and see if you find a correlatoin to gold and crude oil prices. Also US Dollar. I try to keep my eye on several markets to help make sense of what's going on.
How are you deciding to take profits? It seems you are consistently coming up short on your profit goals. Do you have any set criteria on when to exit a profitable trade or is it more a matter of not wanting to lose money if a profitable trades starts to turn on you? You might consider putting in a pre-defined profit target order and leave it in the market just as you would a stop-loss order. Maybe that would help you stay in the trade longer and start to increase your profit per trade. Just a thought.
you could watch,es, dow,naz,er,oil,goog,pot,fnm,corn,and if you had a chart for each with support and res drawn , you could trade which ever one was trending and get out at the trendline support resistance areas,or wait for it to hit a trendline and reverse and start your trade there
thanks rsikit...great suggestion...I've not liked the QM because of the huge spread...but then again...the CL can get a huge spread and worse lose if you are on the wrong side of it...hmmm...the QM...great suggestion if you are considering going with the trend..it does move for s $500 proft all day long...thanks for the insight...will look into it afresh...thanks...do you trade the QM or CL?
Olias...do you trade Soybeans?what correlation have you seen?I've looked at Corn, Soybeans and Wheat but never pulled the trigger on any of those...thanks...
Brocklanders...this is EXACTLY correct...as I stated before, being totally honest...every trade has been in the right direction...it is as you said, seeing that p&l starting to turn "red (-)" temporalrily that gets me concerned of it running for the long haul in the opposite direction..I'm getting a good pulse of the price action and if a market is getting weak or strong and trading in that direction...it is just those slight "temporary spikes" in the opposite direction that have been getting me to "trade out" too quick...yea, exactly, it seems to be all about staying in a trade longer, longer, longer...thanks again
now that is a very interesting thought...hmmm...more choices and more options to trade...do you do this Ammo?...what do you trade?