You remember the trade that I put on the other day. The disappointing thing is that the support which we had identified didn't hold and the price action crashed through it and took out my stop for 140 points.
Disappointing, of course, but in trading you have to expect these losses. As a trader so long as each maximum loss is your defined percentage loss (in my case 2%), it doesn't matter. I was able to stick through my plan and it didn't come off. I was talking to some other trader friend
May 16, 2012
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The markets have taken a bashing lately and right now they look a little over-extended to me. If you look at oil right now (daily chart above) you can see that it has made a base (price has bounced 3 times at this level). Support at around the 9550 level. If you draw a horizontal line back from here, you'll see that this was a previous area of support and if the big boys were to come in, this would be a good point to. Still, with markets, you can never be sure and going long here could be li
May 9, 2012
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