Are We There Yet? | TRIN Café

Are We There Yet?

Sharing is caring:

Ever feel like you almost have your trading all figured out? Well, I highlighted the area of chop/congestion in yellow early before the market opened, I contemplated not trading at all today while the price was in the highlighted area. But then I saw CL price move up at 9:25 am giving me a reason to pay attention to a possible trade. 

This headline might have been the cause for CL to jump up again at 10:23 am Oil rebounds in choppy trade as Kuwait signals progress on output cut extension, as quickly as I entered the trade, my stop was hit just as fast. In classic fashion, I don't want to miss the trade, I am in another and another CL trade.

The last trade that I am in is working, for now, CL price is testing previous lows, but it is still in the highlighted area of congestion. I'm using a very generous profit stop, "could've" closed my position to get back more than half of what was lost, but I am choosing to hang on this trade with the "hope" the congestion will break lower for a major selloff.

All of this proves to me that not trading at all today would have been better than grinding along in this market... even if this trade ends my day profitably, this is not my path to long-term trading success.

"Better Trading Ahead!"

Lot Size: 1
CL: -$503

Total # of trades: 7
Percent Profitable: 28.57%
# of winning trades: 2
# of losing trades: 5
# of even trades: 0
Total: - $503



YM

COMMENTS

BLOGGER: 1
  1. Another losing day, but I may have made a mental break through... time will tell. I can take pride in closing down my charts, there will be no more trades taken today. I look forward to Tuesday!

    ReplyDelete

Name

A+ Trading,3,AAPL,1,About,1,Amazon,1,Better Trading,13,Blog,52,C- Trading,1,Cartoon,1,Chop,2,CL,7,Comic,1,Congestion,1,Cool,1,DIA,9,Easy Trading,2,ES,2,ETF,1,Euro,1,F- Trading,2,Futures Trading,6,Good Read,4,HE,1,Headlines,9,Info Graphic,1,Jesse Livermore,1,Labor,1,Leisure,3,Lifestyle,3,Long Term Option Strategy,1,Mental,1,Method,2,Money Management,2,News,1,Office,1,Old news,2,ONE,1,One And Done,1,Options,14,Psychology,2,Pundit,1,QQQ,1,Quotes,3,Risk,1,Sim Trade,1,slider,1,SPY,2,sticky,1,Technical Analysis,36,Thought,3,THRM,1,Traders Tech,1,Trading,20,Trading & Investing,1,Travel,2,Trend,1,Trin Café,1,Trump,1,Unions,1,UVXY2,1,Video,2,VNQ,1,Weekly Picture,1,WFC,1,Win,3,XLE,1,XLF,1,XLK,1,YM,9,ZC,1,
ltr
item
TRIN Café: Are We There Yet?
Are We There Yet?
https://2.bp.blogspot.com/-e6H1EnRIE2A/WRChMB2-1tI/AAAAAAAABJo/sNO7bPEOvCEPAbGDIDLKBYhYoiYFYxI6gCLcB/s640/CL%2B06-17%2B%25285%2BMinute%2529%2B2017_05_08.png
https://2.bp.blogspot.com/-e6H1EnRIE2A/WRChMB2-1tI/AAAAAAAABJo/sNO7bPEOvCEPAbGDIDLKBYhYoiYFYxI6gCLcB/s72-c/CL%2B06-17%2B%25285%2BMinute%2529%2B2017_05_08.png
TRIN Café
https://www.trincafe.com/2017/05/are-we-there-yet.html
https://www.trincafe.com/
https://www.trincafe.com/
https://www.trincafe.com/2017/05/are-we-there-yet.html
true
4387547293353613323
UTF-8
Loaded All Posts Not found any posts VIEW ALL Readmore Reply Cancel reply Delete By Home PAGES POSTS View All RECOMMENDED FOR YOU LABEL ARCHIVE SEARCH ALL POSTS Not found any post match with your request Back Home Sunday Monday Tuesday Wednesday Thursday Friday Saturday Sun Mon Tue Wed Thu Fri Sat January February March April May June July August September October November December Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec just now 1 minute ago $$1$$ minutes ago 1 hour ago $$1$$ hours ago Yesterday $$1$$ days ago $$1$$ weeks ago more than 5 weeks ago Followers Follow THIS PREMIUM CONTENT IS LOCKED STEP 1: Share to a social network STEP 2: Click the link on your social network Copy All Code Select All Code All codes were copied to your clipboard Can not copy the codes / texts, please press [CTRL]+[C] (or CMD+C with Mac) to copy