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
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.