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Friday, March 29, 2024

Comment by akademia

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  1. akademia

    Help! – /CL – If this is too long for trading hours please feel free to respond after hours. I am new here and I am learning a lot every day, however, contrary to what seems to be a lot of success for everyone in this forum, I have had some disastrous days with /CL. I have followed Phil with the webinars and how he trades oil. Today I entered the day at $101.50 exactly (stop at $101.61) and it started going down (good!) to $101.34. It started going up with very little conviction and I was about to put a limit at $101.40 when bam! Up again to $101.50 in one second and everything is even again. Up slowly so I double up to $101.54 ($101.66 stop). I immediately limit my first contract to $101.52 and it triggers (good!). Still slowly up so I double up to $101.58 (stop at $101.69). I immediately limit my second contract to $101.56 but it pops to $101.69 and it catches my two stops and I am down $200.00 for the day. A little time later it comes down to $101.30!!!

    I have had several days just like this one loosing between $100 and $300, plus not getting to participate in the following downturn (no egg mcmuffin money for me!). At first I thought that my limits were being hunted down (as Phil has repeated in his webinars), but I have since started placing hidden orders (I trade in IB), but the results are pretty much the same. Either that “Hidden” flag in IB is bollocks or I am doing something wrong. I am now leery of reentering the trade although it is below $101.50 again!

    Help!



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