6E & CL Trade 18 - 19 Oct

1309h EST Well stupid me tried 6E again on shorts which was wrong. Lost 51 ticks with those trade. Took 16 ticks back on CL. I think I will just stick to CL. I could have taken more from CL just that I have the jitters.

The action was a triangle. I had some shorts but was skiddish and did not carry out the plan. In fact, long positions would have given me more confidence. I did not wait for it. Tired from the 6E trades that I went to bed at 1200h EST.

Took a short at 80.30 at 0000h EST, just 1 contract, 20 tick gain exit at 80.10. Good start of the day.

The action on crude so far. The green lines is the triangle channel and it broke upwards at 1321h EST.

6E Trade 16 Oct

0320h EST There was so much hype about the Euro crushing the Buck that I wanted to try it out. The entry was not great. I took some risk at the 50% retrace 14903, in reality, 6E went for the 61.8% retrace. Wanted a 20 tick gain but on the Range 13 chart, extension indicates a bounce at 14919. Took profits there for 16 ticks, I don't want to live through the retrace. Charts on this trade.

CL Trade 15 Oct

1221h EST This was last night's trade. Didn't have the guts to step in front of the EIA numbers at 1100h EST. Sold 75.97 as the 50% retrace of 75.99. Embarrassing as it was a wrong plot. I saw 75.97 as the 61.8% retrace. Arrghh! How could I be so careless? Anyway, the entry was a good entry. The extension tells me it should go to 75.44 so I placed my target at 76.47, 1 tick above the 61.8% retrace of that leg. Trailed the stop to 75.83. Then I see it stall at 75.61 which is the 50% retrace. I moved my target to 75.63 to bail out but too late. Stopped me at profit of 13 ticks.

Image says it all. Exceeded the 77.00 mark and on the way to 78.25. Enough for me because I was tired and need to be up early the next day. Having guests over for dinner. Oh how I wish I was still in Toronto time for trading.

CL Trade 14 Oct

1217h EST Finished my trades for today. First one was unsuccessful. 2nd one was made with and entry at the 61.8% retrace. Then I trailed the stops using the Range 23 chart, 1 tick above the previous bar high.

Images says it all. Nett 50 tick gain.

BBC - The Love of Money

I would highly recommend this documentary.

BBC documentaries have always been very unbiased, truthful reporting and non sensational. In fact like most documentaries; its supposed to be boring with facts.

You can get some snippets from or even play the whole episode. http://www.bbc.co.uk/programmes/b00mqmjs

Just finished the first episode. Great insight of what transpired behind the collapse of Lehman Brothers.

There is 3 episodes in this series.

1. The Bank that Bust the world
2. The Age of Risk
3. Back from the Brink

If it airs in your country, please do not miss it. Have a great weekend.

CL Trade 6 Oct

Just 1 trade.

Charts below says it. Took a stab at the 50% retrace. Had insurance at 10 ticks then the target 71.35, 50 ticks. Didn't have the time let it run. Just sleepy so called it a night and turned in. First chart was what the setup says. Price was at the lower band. Trend is up. Retrace smack at 50%.

Second chart is the entries and exits plotted at 2100h EST

Some entertainment

Back from Toronto, Ontario, Canada.

Not in a mood to trade as yet. I did some trades when I was there. It was refreshing. Day time not night. Exact timezone as New York. Breakfast, coffee and login to Ninjatrader. Meanwhile some entertainment.

Kart Crashes. Hmmm.... Like trading when you lose big time.