What a GREAT day today eh?? Love that price action going straight up! Honestly, I was scared shitless on Monday as I was watching price action go down to almost 5 even - I was down quite a bit of money. Anyway, my stop was at 4.500 so thank god it didn't go that low. Now I'm up a decent bit but here is where the problem lies........Do I wait until Friday to sell or maybe even Sun night to see what will happen?
btw......so my little experiment of buying on Friday because Sunday 'should' open higher?????? YA - screwed me huge! SOOOOOO lesson learned - follow the charts!! If I just followed my indicators regardless of how I felt, and regardless that a cold front was going to come in this week, and and and and -- DAMN -- one of these years I will get it I swear. Anyway - lesson is - follow your charting - trust your charts and indicators. I should have looked at the TREND and seen on Friday that the trend was still indeed DOWN. It hadn't turned around yet so why the hell did I put a buy order in at 5.500??? Can you imagine how much happier I would be today if I waited and on Monday put in my Buy order at 5.100???? NICE!
Anyway - Next Time!!
So back to the issue at hand - when to get out of this trade.... what I know is that next week is going to warm up which should make price fall. Todays spike in price is supposedly just from Global Prices being stooopidly high. ( I'll take it ) The only thing that is up in the air for me is tomorrow's NG reserve count in the morning, I think 10:30am EST. If the count is lower than they are expecting then price can spike up ( good for me ) .. .. If count is higher than they were expecting then there is more supply PLUS warmer weather which means price should fall, and if that's true it will probably fall like a rock.
So with that knowledge, I am going to tighten up my stop losses before I go to bed tonight so there are no surprises - if I get stopped out overnight or in the morning from the report, at least I will have locked in some profit!!! And that is ALWAYS a good thing. If prices keep going up after the report then I will hold on to my orders until Friday afternoon at the latest. I'm pretty sure I will unload all before the weekend.
Thanks again to all for your support - stay tuned :-)
HEIKO
btw......so my little experiment of buying on Friday because Sunday 'should' open higher?????? YA - screwed me huge! SOOOOOO lesson learned - follow the charts!! If I just followed my indicators regardless of how I felt, and regardless that a cold front was going to come in this week, and and and and -- DAMN -- one of these years I will get it I swear. Anyway - lesson is - follow your charting - trust your charts and indicators. I should have looked at the TREND and seen on Friday that the trend was still indeed DOWN. It hadn't turned around yet so why the hell did I put a buy order in at 5.500??? Can you imagine how much happier I would be today if I waited and on Monday put in my Buy order at 5.100???? NICE!
Anyway - Next Time!!
So back to the issue at hand - when to get out of this trade.... what I know is that next week is going to warm up which should make price fall. Todays spike in price is supposedly just from Global Prices being stooopidly high. ( I'll take it ) The only thing that is up in the air for me is tomorrow's NG reserve count in the morning, I think 10:30am EST. If the count is lower than they are expecting then price can spike up ( good for me ) .. .. If count is higher than they were expecting then there is more supply PLUS warmer weather which means price should fall, and if that's true it will probably fall like a rock.
So with that knowledge, I am going to tighten up my stop losses before I go to bed tonight so there are no surprises - if I get stopped out overnight or in the morning from the report, at least I will have locked in some profit!!! And that is ALWAYS a good thing. If prices keep going up after the report then I will hold on to my orders until Friday afternoon at the latest. I'm pretty sure I will unload all before the weekend.
Thanks again to all for your support - stay tuned :-)
HEIKO
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Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.
Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.