Discretional signals

yesterday I got two ideas for today’s session: Buy gold and crude.

 

Gold because yesterday was an extreme-real-volume day and that means taking the opposite direction of the day’s performance.

And Crude’s signal was more discretionary because I have noticed that, on a weekly timeframe, every decline if followed by a quick pullback. Quoting touched the 72.51 and that was new lows of at least 8 sessions. So it was a buy.

 

problem

Getting ideas is just not enough. Both ideas lack of 1) entry details (price and time) 2) timeframe of the trade (one day) and last but not least 3) stop loss.

 

Not that I have confirmation bias, but both moves have been ok so far this AM. the problem is in crude the trade should have had stood open for the overnight.

 

This reminds me when you set a meeting with somebody: time, place, and what to talk about.

In my country it is common to say “sure! we should set a meeting” and that’s it, nothing happens until you force the situation asking time and place.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s