Don't fade!!!! Seriously. The thing you need to understand is 90% of the people who trade futures are under capitalized. Say this to yourself 100 times and don't forget it. They have no pain threshold. So when price breaks out it's going to pop hard, I mean really hard. So learn to identify trends.
I am on vacation for next 3 weeks. Will be checking in when ever get some time.. Solid A up? Is that monthly or for 11-01-2011. If for 11-01-2011, what time frame you use for OR? Good trading to all.
I don't post a ton because I don't have much of value to contribute. I look foward to reading your posts in this thread, please continue talking to yourself. It is very educational.
Three weeks? Man, you are living the good life! I can't even remember the last time I had a vacation that long. Oh yeah, summer break during college! LOL.
Lol, I can't help myself! I'm a fader...I see crude up 4% in a day and think this is too high it has to mean revert!!! no JK. One question I do have is about targets. Take a good A-up in CL for example. Do you target at the ATR. Just manage by discretion. Trail out stops behind highs/lows. So many possibilities.
If you are going to trade crude, you should check out that Crude Journal which is pretty solid. Those guys have been at it awhile and know all the nuances of trading it.
There is less to trading than meets the eye, this quote was taken by Jim Sloman who got it from some other trader. Can't really quantify it into a system but it makes a lot of sense to me. I like that Paul Jones is unselfish enough to think about the next generation. Remember that kids in their 20's now grew up with computers and cell phones so they will look at the world differently. Also, in the article he seems to imply that markets cycles move in threes, interesting. http://en.wikipedia.org/wiki/Commodities_Corporation