2/02/2010

The Porridge is Just Right

Crude came to life today, don't know why and don't care why.

Ok I do care but since I don't know why I just said I didn't care.

I think I may have stumbled onto a nice system for setting targets. If not "nice" then at least one that is rational. Don't have the stats to back that up but I do have a few years of staring at this thing and have earned a bit of a feel for it.

I hope.

Anyway I am using a percentage the 5 day ATR and then setting the actual target number to the first fib number under that percentage.

Could all be a massive case of recency bias but seems to be working nicely for now.

I only got 2 signals in this massive move up today as the signals stopped due to the EMA spread.

Both hit target and that always makes the "just watching" part of the day a little more relaxing.

2 Minute Crude Oil Chart
Obviously with the right side of the chart filled out I left a lot of porridge on the table today. (and the day's not over) That's ok, the right side of the chart was blank when I exited. I traded my plan my way and it all worked out.

Nice day.

9 comments:

daytrader233 said...

Nice work Sol.

Solfest said...

moo

Jules said...

Your right side is the wrong side, Solfest.

Price should be DOWN.

.....

Solfest said...

Sorry.

Tis why I am a follower and not a predictor.

longandwrong said...

I would comment but I notice you have been moo-ing on other blogs.

I am hurt and betrayed.

Solfest said...

We only have serious discussions on your blog now.

longandwrong said...

I felt quite intellectual for a couple of days :-)

Then I looked at mt eur/jpy p/l and soon realised I am not as smart as I think I am!!

Attitude Trader said...

Arrrrrrr!

BTW, dig your Flickr stream.

-AT

Solfest said...

Thank you.

Is it summer yet?