There's no way to determine an MAE or R:R from your statement at 12:45 ET that with a new HOD having printed at 86.80 your models indicate it's time to switch to shorting weak stocks. Even if a trader got filled at the high tick of 86.80 in QQQ, the R:R can only be calculated based on what the predetermined risk was. If you were trading QQQ and got short at the high tick, where was your stop loss, or at what price would you have exited the trade had it continued to run? That would be a starting point for R:R. Since you were shorting weak stocks at that time, can you post your trade log showing us which stocks you shorted, where your stop loss level was and how the trades turned out?
I'm curious which PA concepts would qualify that as support? The first PA-based support level I see 85.68.
I think it was market surfer who said she was doing 5k a day average. Not sure if that's one single contract or absolute amount. $5000*252=$1,260,000 per annum.
if you think it can't be done, then it can't. If you think it can be done, then it can. I remember a thread on these boards saying that averaging more than 2 ES pts per day is impossible. Focus on what u want to achieve, and put a plan in place to achieve it. Set your mind on limiting beliefs and you will not succeed. Perhaps NoDoji put lots of research into CL to trade it effectively. Hell, I took a 6 month break from ES trading when I was losing my a$$, and studied historical charts for 6 months 5 hours a day until I was able to come up with even something slightly resembling a trading plan. Most here just don't want to do that type of homework. And I'm ok with that, b/c I have no problem taking your money.
Hi NoDoji, Are you active in any chat room during the trade day? If yes, I would very much appreciate joining in and getting your insights in the price action of CL. Badeco
No, I'm not at this time. I sometimes chat with a few Skype friends after the morning part of the session, but during the first couple hours of the pit session I'm 100% focused on making my day's pay. As a scalper, I keep several price levels in my head at all times and have to be ready to place or cancel orders very quickly if trade conditions are met or invalidated.