This post was contributed by a guest author, and does not necessarily reflect the views of Richard or MovetheMarkets.com

I couldn’t hold on as long as I would have liked, but I made a few bucks. Yesterday, I stuck to my plan, and took two large losses playing the harami setup. It made me think about the reward versus the risk I was taking.

Last night I started searching for different articles on trading breakouts. My reasoning is that if I’m going to take such large risks (.30 to .40 on each oil contract), then I need to have the opportunity for larger gains - thus trade breakouts. However, in the past, I haven’t faired so well.

Here is the link of the chat transcript that I found. Anyway, I took one trade. While I was waiting for it to setup, I surfed the net. Its easily recognizable, and only time will tell how profitable it is.

This post was contributed by a guest author, and does not necessarily reflect the views of Richard or MovetheMarkets.com