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Oct 25, 2021 Natural Gas Take Profit

Oct 25, 2021 Natural Gas Take Profit

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 set my targets - but I keep SOME of my contracts in case price action continues in my direction. I will explain in my instance what has happened...

So I put in a Buy order at 5.000 last week on Monday for 5 contracts. I put in a Take Profit at 5.500 for only 3 of my 5 contracts. So that Take Profit got triggered shortly after the opening last night (which was sweet) so I profited there - however - I STILL have my other 2 contracts which were also put in at 5 and price action is now hanging around 5.750! So I have put a Take Profit on those 2 contracts for 5.800. Reason? I think there will be some warmer weather starting Wed this week throughout the U.S. so I want to lock in my profits in case price action goes down.

Remember, this is MY Trading Style - it's not for everyone. However, since reading Larry Williams book and looking at the Weekly and Daily charts instead of smaller time frames, I am more profitable with WAY less trades. I used to trade daily. Now I'm trading once weekly or every 2 weeks. But my profits are higher - obviously my losses can be higher as well (like a few weeks ago with my Buy order in at 6 and price action triggering my Stop Loss at 5-that sucked).

Overall though I'm trading less and profiting more so I think this Larry Williams guy might know what he's talking about :-) (couldn't be the fact that he's a multi millionaire or anything)

Moving forward this week - I will continue to monitor price action looking for a dip in price and waiting to catch the bottom, then I will put in another Buy order as I believe price action will go up as the winter sets in across the U.S. over the next 10 weeks.

BTW - I want to say Thank You to all of my supporters and followers, and Thank You to all who have profited over my reviews of Natural Gas . Enjoy your profits :-)

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