Monday, November 21, 2011

Mon. 11/21

2:55pm CST - Monday strikes again. Today's lesson, moving stops to BE too quickly on CL. I threw in the towel after 10 tries. I forgot how choppy she can be.


RESULTS FOR DAY
CL Contracts:14
Net $P/L:-832
Wins:1
Losses:9
Win%:10
Avg$Win:1
Avg$Loss:-93
Posted by at

2 comments:

  1. AnonymousNovember 22, 2011 at 12:29 PM

    Institutional players are generally not going to try to make it evident to you that the price is going to go one way or the other. However, occasionally they have to compete amongst themselves for contracts and they are willing to remove liquidity and book levels will exhaust themselves much more rapidly. Judging by volume, it doesn't really look like many of your supports/resistances were confirmed by any supporting evidence that someone was moving serious size.

    The chart pattern by itself is useless. The one guy I've seen who uses chart patterns correctly (Dan Zanger) is just making probabilistic bets on liquidity exhaustion on stocks that have very strong (very weak) fundamentals. So his chart patterns are generally just anchor-points for him to assess whether there's real liquidity exhaustion in fundamentally sound securities.

    I hope that helps.

    ReplyDelete
  2. MBAGearheadNovember 22, 2011 at 2:10 PM

    Thanks Anon.

    ReplyDelete

Subscribe to: Post Comments (Atom)