this is where fibs come in handy IMO...I don't believe there is anything magical to these exact numbers in trading but they are an easy quick way to measure trend strength...like training wheels for price action.
took a long position in corn that's been ugly since I entered. My thinking is such a strong price advance shouldn't retrace too much if it has another leg in it...if it continues to break down to 400 im out.
You might be surprised how your brain can finally flip on when you've got no other choice than to succeed. Burning the bridge is a real thing, and can provide real results, but not if you're on the fence!
Yes, bid/ask costs usually eat up my edge in butterflies. @sle introduced me to Bennett's book, for in depth understanding of option trading but I am too dumb, unable to develop an edge in vol.
got creamed in corn lol. This isn't the worst trade i've ever made, huge breakout to the upside, let it pull back some and entered long for continuation. Some mistakes: I held too long when it was red straight out of the gate and stayed that way almost the entire time. Poor patience for a proper setup. I also let it slide way too far against me. The oil trade prior was luke warm....terrible ETD. I am figuring out some nuances on TV sim account. Stop orders are funky...sometime they go through sometimes they don't. Sometimes you cancel them...and then they get filled later on after you have exited a trade (notice the +14 Long MCL trade up top...that was an early stop i placed on the short trade on the bottom of the screen).