Nice downward move in the crude oil market today. My trading signals were all intact, 3 minute chart had the 34EMA under the 89EMA for a short trend. The 16 tick range bar chart set up a short entry and away we go. ADX turned white and I exited the trade for a small winner.
Next, 16 tick range bar chart fires off another short signal, 3 minute chart still in a short trend, enter, move stop to break even + 1, take early exit.
Take early exit, wait that's not in the plan, why would you do that?.
Umm, ahh, ohh, the market had been flat since the open, no follow through, I felt like it, I DON'T KNOW.
Is "take early exit" in your trading plan?
How much money would you have made if you had followed your trading plan?
Why are you asking all these questions?
More importantly, who are you?
Anyway, what was the question again?
Oh, ya, how much.
Umm, ahh, ohh, $2,750.00.
How much money did you make with your "take early exit" moron trade?
Umm, ahh, ohh, $160,00.
What did we learn today?
Trade the Plan, Moron.
3 minute crude oil entry points. (click on charts to view)
16 tick crude oil range bar entry points.
Exits are when the ADX turns white, usually the open of the second white bar.
However I don't want to talk about that right now.