@oilfxpro I averaged before and I averaged now because I know market will remain in this range for enough time for me to get out profitably. And no market wont go to $98 overnight let alone $40. One has to have deep understanding of the fundamentals and technicals before going for averaging out. Although I am not a fan of averaging out it can save your life even on an ordinary day(when u dont know for sure that market will remain in a certain range). How? because crude tends to have a daily range of $2-$3 during which u can average out and get out of your position during NYMEX times or GLOBEX timings @all my account size is $100k and my daily profit target is 10% so far ive acheived 7% per day
well got out of the long position(which was at 99.48 avg) with a loss @ 99.10 but overall yesterday was closed with a a reasonable profit. Todays trades S 15 97.84 B 15 97.83 S 15 97.84 B 15 97.81 B 15 97.74 S 15 97.91 S 15 98.03 B 15 97.44 S 5 97.70 B 5 97.49 S 5 97.63 B 5 97.40 profit : 13k
Since your entries and exits have no practical informational value for anyone else, it seems that the only notable numbers in your posts are your daily profits. With that in mind, you may wish to just post in the P&L thread: http://www.elitetrader.com/vb/showthread.php?threadid=113193