Had a Hard Time Finding Proper Set Ups Today

[MichelGJulien 10]

Although I like very much the job of hosting a live trading room, I have to admit that it has changed my work methodology a bit. Maybe because of the fact that I feel a broad sense of responsibility towards the participants, it seems like I've become extra cautious because of this. I'm looking more than usual for the perfect set up, one which wouldn't be too risky or wouldn't go too much against my position before getting in the right direction. Knowing that people are following your trades to the tick causes a different feeling than when I only had myself to bother with. When I made mistakes in the past in terms of bad execution or anything else, nobody but me would know about it. Now, each and every facet of my trading is under the spotlight. It adds another dimension to trading and I guess it will take a little getting used to on my part before I feel completely at ease with this new aspect of my work.

 

Crude hasn't been able to hold above its 55-EMA for more than a month

 

That being said, the market opened at 93.33, i.e. within yesterday's range but outside of the value area. The closest gap left unfilled was sitting below at 93.12 and was never challenged really. Lately, every time you think that crude is down for the count, it comes roaring back up and slaps you in the face. we had a perfect example of that today. Nevertheless, the overall trend is definitely down and in my opinion crude will not escape its fate, which is to visit the $91 level sooner or later. Tomorrow the DOE inventories data will very likely show another increase of supplies. That could (please stress the verb could) knock crude down for the count this time - unless it has transformed into Rocky Balboa :-0

 

I took 1 trade today:

 

1. Short YM 15635 at 10:24am, exit 15651 at 10:28am for a -16 ticks loss. Result: -16 ticks today

[MightyMouse 12]

Although I like very much the job of hosting a live trading room, I have to admit that it has changed my work methodology a bit. Maybe because of the fact that I feel a broad sense of responsibility towards the participants, it seems like I've become extra cautious because of this. I'm looking more than usual for the perfect set up, one which wouldn't be too risky or wouldn't go too much against my position before getting in the right direction. Knowing that people are following your trades to the tick causes a different feeling than when I only had myself to bother with. When I made mistakes in the past in terms of bad execution or anything else, nobody but me would know about it. Now, each and every facet of my trading is under the spotlight. It adds another dimension to trading and I guess it will take a little getting used to on my part before I feel completely at ease with this new aspect of my work.

 

A similar type of performance anxiety has been known to lead to erectile dysfunction. Be careful to not let this anxiety spread to other parts of your life.

[MichelGJulien 10]

A similar type of performance anxiety has been known to lead to erectile dysfunction. Be careful to not let this anxiety spread to other parts of your life.

 

And they call you a market wizard in here? Makes me laugh if it wasn't so sad

[Guest OILFXPRO]

Although I like very much the job of hosting a live trading room, I have to admit that it has changed my work methodology a bit. Maybe because of the fact that I feel a broad sense of responsibility towards the participants, it seems like I've become extra cautious because of this. I'm looking more than usual for the perfect set up, one which wouldn't be too risky or wouldn't go too much against my position before getting in the right direction. Knowing that people are following your trades to the tick causes a different feeling than when I only had myself to bother with. When I made mistakes in the past in terms of bad execution or anything else, nobody but me would know about it. Now, each and every facet of my trading is under the spotlight. It adds another dimension to trading and I guess it will take a little getting used to on my part before I feel completely at ease with this new aspect of my work.

 

Crude hasn't been able to hold above its 55-EMA for more than a month

 

That being said, the market opened at 93.33, i.e. within yesterday's range but outside of the value area. The closest gap left unfilled was sitting below at 93.12 and was never challenged really. Lately, every time you think that crude is down for the count, it comes roaring back up and slaps you in the face. we had a perfect example of that today. Nevertheless, the overall trend is definitely down and in my opinion crude will not escape its fate, which is to visit the $91 level sooner or later. Tomorrow the DOE inventories data will very likely show another increase of supplies. That could (please stress the verb could) knock crude down for the count this time - unless it has transformed into Rocky Balboa :-0

 

I took 1 trade today:

 

1. Short YM 15635 at 10:24am, exit 15651 at 10:28am for a -16 ticks loss. Result: -16 ticks today

 

 

The YM makes 200 tick move and you lose 16 , the S and p and YM both have a clean breakout.

 

You are going short on YM in a bull market ?There were no perfect set ups yesterday?What about the people that follow you and how they suffer ?

[MightyMouse 12]

And they call you a market wizard in here? Makes me laugh if it wasn't so sad

 

It was supposed to make you laugh, sad or not. I am not judging how you trade, but if the room is making you miss nice trades, then get rid of the room.

[maui - surftradesurf 10]

If you could trade and make money you would not need the "live trading room" - now would you? That trade had short squeeze for rookies all but printed in bold upper case all over it.

[BlueHorseshoe 10]

It was relatively early in the session, so short or long - might have been harder to judge (without the benefit of hindsight) than some other posts suggest . . .

 

What is a little more surprising is that you apparently found no other opportunity to enter (long, one would hope) during the remainder of the session?

 

All depends on what you're looking for though, I suppose.

 

BlueHorseshoe

[MichelGJulien 10]

If you could trade and make money you would not need the "live trading room" - now would you? That trade had short squeeze for rookies all but printed in bold upper case all over it.

 

Maybe you didn't know but I do not make any money out of this trading room dude. You are showing that you're a real loser to write a comment like that. A winner wouldn't bother. Too bad for u. Me I couldn't care less about what u think. Take care anyway.