Spank the Markets - CL Edition Trading Blog: 3/22 (+39) - Short day, not focused and it showed

Monday, March 22, 2010

3/22 (+39) - Short day, not focused and it showed

Notes:
Felt lost in the morning, just watching CL go without me
Focus on giving runner enough room
Continue to look to bigger picture to allow my trade to 'blossom' as expected

No comments:

Post a Comment

How I trade:

-> I first identify the context of the market. This is done by drawing trend lines where price has proven them already, and then most times, taking a parallel of these lines, and drawing ‘potential’ or unproven trend lines.

-> Once the trend lines are identified, I will locate key areas where price has failed to breakout/down, or has shown support/resistance on more than one occasion. I give the most “weight” to the most recent price action at that point.

-> Wait for price to approach a trend line, as well as have potential support/resistance in the same area, and then take the trade.

-> I trade 1-5 contracts. Full stop <$600. I look to trade from 7:30-10:30 CST.