As I discussed in my last post, I would Take my small Profit and run by Wed this week.....this morning worked for me. I put in a Take Profit at 5 even so I made a little money, not huge but better than losing :-) So the forecast is looking mild for the next 2 weeks and this contract expires this Friday ( I think ), so there could be some volatility for the rest...
So with hindsight being 20/20, I obviously should have sold everything at the close on Friday. Anyway........... I always try to learn my lessons for future. The big boys took profits after hours on the weekend and NG opened last night down about 170 points (SUCKS) and it looks like everyone is focused on the long term forecast 10-15 days out which is calling...
So I jumped the gun a little bit with my add on order at 4.900 but at least price action is above that now - hopefully we will close out today above 5. As for next week, demand is looking good. It supposed to be cold at least till Wed so I'm assuming I will exit my trades sometime on Wed. I will use a trailing stop as price action goes up to protect myself...
So here is my chart on the 4 hour timeframe. You can see how there may have been an entry at 4.800 for a Buy Order. What I looked for is since Nov 10 you can see price action bounce off of 4.800 (or damn close to that) 5 or 6 times. I was watching price action last night drop so I left it alone until this morning. I saw price action turn around this morning...
Price action is starting to come down again after yesterdays news of Belarus not supplying Germany with NG - prices spiked 5% over there which is probably why NG went up a bit yesterday here. From what I can see, price action will remain flat to dropping a little - at least until mid week next week, maybe longer. I'm looking at getting into a BUY order next week...
Price action is going in the right direction for me - DOWN - as I am hoping for a Take Profit at 5.100. On Sunday I put a Sell order in at 5.600 based on the warmer weather for this week and so far it was a good call. There is a cold front pushing down from Canada on Thursday or Friday this week so I probably will get out of this order before Friday. Looking...
So I got cold feet and took my profits at 5.800 - not bad at about 300 points. Now I'm looking at a price point for a Sell order considering the warm weather for next week. It's not supposed to ward up until the weekend so not sure if price action will go up to maybe 6?? Anyway, like I said, I got cold feet and took my profits and i'll try again for a Sell...
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...
I was a little scared yesterday thinking price was not going to fall, but today it did :-) My Take Profit was set only to 5.600, so I could have made more money if I held out a little longer, but I was afraid of price reversal - anyway - still made a bit of a profit and now we are ready for the big time price UP action that I have been waiting for - A.K.A....
So I got cold feet last night and sold my other 2 remaining contracts at 5.850 so still good from 5, but price action went all the up to almost 6.100 so I lost out on some profit but not bad. This morning I was watching price action closely and got an update on the weather reports and saw that price action was starting to go down since 3AM, so I put in a Sell...
An update for you all, as you know I put a Buy order in at 5.000 last week and the week price action finished up which was great. Today is awesome though!! Price action is continuing to go way up. Let me tell you my thoughts from last week and moving forward for this week... Following Larry Williams book, another thing I started doing is Taking Profit where I...
So far so good for this week. After losing a bit of money last week on my trade (I got stopped out at 5) I was keeping a close eye to maybe put in a Buy order at 5. On Monday I did and as of now price action is up to about 5.216 so not too bad. Next weeks weather is looking to be fairly warm across the Unites States so should I take my profit and run? Not sure...
In reading Larry Williams book, one thing that he says is the average person puts their stops way too close and therefore don't ever achieve the greatest returns because they get stopped out. One of my issues for sure was that in my previous trading - so to fix that I put my stops pretty far away, at least I think so. I also have to be realistic as i am NOT a...
Another wild ride week for NG! Almost hit 6 and down as low as about 5.1 - not boding well for my Buy order at 6. Anyway, like Larry says, stick to the plan. Weekly chart still is showing an up trend, and weather will change in November which should push prices up. My overall 'fix' will be to add more buy orders while price is low over the next few weeks. I...
What a week, almost as high as 6.500 and as low as 5.400 - an incredible 1100 swing from one end to the other, in ONE week! Crazy times. However, in staying true to what I read and Larry's trading strategy, I am staying Long at 6.000. Currently i'm down about 300 points but we shall see if today will end closer to 6. I'm not expecting much price action over...
WOW - what a ride - well, while my Sell order WAS looking good, todays price action TOTALLY kicked my butt. I still made a bit of money by having a Stop loss put in at 5.800, but man, price action went all the way below 5.400. Naturally I was praying that this was the BIG ONE and it was gonna keep going down but no suck luck today as price action soared almost...
Today was the day I decided to put my SELL order in at 6.000 - This is for the big one, or so I'm hoping lol. With the Oct contract over and done with yesterday, as I watched the price go up and up and up to a crazy high level, I was hoping today it was going to come back to reality. So I put a Sell order in at 6 and am hoping it will go down to 5ish with the...
So the FED has said their piece and markets didn't go too crazy. Here is the picture of the weekly chart and it is definitely coming down from those crazy highs. If price action closes below the 35 HMA then I might just put a Sell order in early next week. News is saying weather is milder for the next 2 weeks and refineries are pushing as much as they can to...