Wednesday 20 November 2013

Todays CL trades

Today, I traded very badly again.  I took a trade a t the LOD based on a very good squat bar on 800 tick chart, also on the 1 min chart. This was at a demand zone from the 21 range chart.  Unfortunately I only managed 16 ticks from it by mismanagement.  I was focusing too much on the trade rather than looking on the charts and missed reasons to stay in the trade and price rallied over 100 ticks, pushed up by the OIA report.

I took a short after the rally at a SZ, after price had retraced to the 5 min SZ created on the open.  I saw limit sell orders on the 1 min chart and also 800 tick.  I entered soon after seeing an engulfing RPM DD bar on the 30 sec chart.  I entered 1 at market and left a limit order 8 ticks above.  SL was originally just above the limit sell orders.  Price action had slowed down and I was happy to take a blended 18 ticks per contract.

I seem to be getting anxious again when I am in a trade, and it is something I need to improve on.





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