Sunday, October 11, 2015

CL Trade 9/10/2015 Friday

CL 5mins

After a very long 3-year break, I'm resuming active trading. There's not going to be a specific strategy or concrete trading plan, except that I'll aim to trade back to pivot rather than away from it. I won't be using hard stops, for reasons I will share in the days/weeks/months to come. I have a profit taking guideline, but won't set specific targets (at least not in absolute dollar amount) or work with rigid rules. I will actively avoid initiating trades during the US open (ie. 9am EST to 12pm EST).

Trade 9/10
There's really nothing much to say about the trade except that even D noticed that I was rusty. In retrospect, the PERFECT entry for this particular short would have been at the 3rd touch of the ascending channel after the appearance of a bear engulfing pattern. Ha.

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