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Nice trade on the long there. Im short at 7571 , Looks like im going to have to wait for a retest to get out

Goes below 75.80 going short and covering 75.00

Picking at my bottom right now. Hopefully I get gold and not just a smelly finger

It appears as a double bottom per a continuous chart. But you are correct if you go by a spot month chart that it is waay off. You could say the low for the year was 2.692 in ngu09.

Going by Mark Fishers book "The Logical Trader". From what I understand is now most of the trade desks have moved to electronic and they start at 8.30. Plus that is when most of the reports come out so you can try to gauge what the bias of the market is. But it seems most of the time such as...

Attached what im talking about

Are you not trading the downward channel on the daily chart?

Sorry meant target 75.55 today on the short side. oops

Getting sawd up? If you were long you are limited on the upside to 77.15.. If it runs through 77.55 you could target 78.60.. On the short side I would target 77.55 with a test of 75.00 on Friday. Good luck

Options, monthly spreads and owning physical. Or just naked

It seems to trend one direction only about once a week. But im using 8.30 as the opening, might trend more often for you since your starting later. One thing you will see when you put real money in is that their is alot of flash trading happening in oil right now. Seems you will have 20-100...

Let me rephrase the question, do some of you guys have a price movement target such as once it moves .50 cent you get out or do you just ride it out until 2.30? Or do you use technical price targets?

.17-.20 roughly today during pit open

I have been daytrading oil for a couple of years. I don't know anyone else who trades. Wanted to ask what profit target or how many points you guys go for? Also how many contracts you guys hold at one time? Thanks