Monday 9/19/11 Trade Review

Hey Tweeps, its been a while since I did a post, & seeing as how I wont be here the rest of the week due to a long overdue vacation I figured I owed it to ya. So here we go.....

Trade 1: Long 87.02 (9:01)
Why: We basically got an opening drive up open, & pushed right through back into Fridays range where I took the long right above Fridays low of 87.
Result: No scales & ended up taking a 5 tick loss when I flipped short the next trade.

Trade 2: Short 86.97 (9:03)
Why: We got almost zero follow thru on the push back into Fridays range & dropped right back out of it. I get a lot of questions on how I enter trades, a lot of the time this is what I do & actually used on this trade: when I took the long in trade 1, I put in a stop for twice the # of contracts that I was in the long for, so for example, I was long 4 in trade 1, & has a stop in for 8 so the second my stop gets hit im instantly short 4. You have to be careful doing this because you can get chopped up on a none trending day, but when crude routinely has 50 tick 1 min candles a lot of the time this is the only to get a decent fill at an area of interest.
Result: Closed the trade out just in front of the swing low at 85.11 for almost 200 ticks

Trade 3: Long 85.40 (10:40)
Why: We couldnt even make it down to the swing low at 85, & we traded back into the IB, where I took the long just in front of the IB low.
Result: Got a scale at 86.14, which was just in front of the rotation high from (9:36).

Trade 4: Short 85.35 (12:36)
Why: The rotation high held, & we dropped back out of the IB.
Result: We popped right back out & took a 7 tick loss

Trade 5: Short 85.37 (12:49)
Why: Same as trade 4
Result: Scaled at the swing low (85) & closed it when we had poor follow thru just above it.

Trade 6: Long 85.06 (1:08)
Why: I treat swing highs/lows the same as I treat previous days highs/low, so when we rejected price under the swing low at 85 & a decent buying tail for a 1 min candle, I took a long just above 85.
Result: I really thought I was gonna get stopped out on this 1 because we didnt really move away from it for  like 15 min, but got lucky & got 100 ticks out of it.

Yellow Lines: IB high/low (high/low of first hour of trading 9-10)
Purple Line: Fridays low
Red Line: Open
Blue Line: Swing Low