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went short 1 QM @ 43.72 keeping tight .50 loss/exit

agreed I want to go short too, though a lil timid in pulling the trigger right now lol

I aborted the trade early and took a -$100 loss. I didn't see the resistance earlier. Here is what i am talking about

Lowered exit back to 44.55 I just switched to the two weeks chart and noticed a strong descending resistance line right around 44.60. I didn't see that prior to entering the trade. We might get some selling there

raised my target from 44.55 to 45 but i won't touch my stop :)

i just went long 1vQM @ 44.05 keeping a .50 loss/exit on this trade

InvestVision, Great call! Current Feb/Mar spread is at $8.20 now. I have never done spreads, but definitely interested in trying out due to good risk/reward ratio. What is your forecast for next month's roll over time? Right now the Mar/Apr spread is at 4.62. Is this a little high?

Yeah I had to switch to March contract on IB today and had to go through and update all my charts. I wished Crude was like ES, 4 contracts per year, instead of one for every month.

The rally from bottom was impressive. If this holds by tomorrow then this would be the start of a nice uptrend that we have all been waiting for :) I am still not ready to go long though...I need to see oil hold grounds better. I don't like these $1-2 reversals we've been seeing lately

Yeah, mar contract is down -25% from peak and feb contract -30% from peak. I am not going long on oil until the trend reverses though. For now, I'll just wait for spikes so I can short into it. But since there is only couple of hours remaining and everything is so over-extended, I doubt i'll...

Yeah the trend is down and buying now is like catching a falling knife. I am starting to think that OIL trading should be done during London session not NY. Had the market not been down -$3 before the open this morning, I would have never gone long. Usually, by the time we get started...

Wow it overshot my stop by .10 and I ended up losing -$610 on this trade.

One thing I hate about trading oil is that the biggest moves happen in pre-open session. By the time the US session starts, the market is already over extended.

I dont like what I am seeing here. OIL is so weak

Energies are holding up while the stock market is testing new daily lows. This is somewhat a good thing, because it shows there is strength here, and when ES bottoms, oil will take off. There is still risk here in that if ES nose dives everything else follows. Still holding long with original...

That was smart. This thing is turning around again.

damn that was quick. I am still holding. I am watching the stock market to see if it bottoms, cuz if does, then oil could start a big rally

yeah i went long too @ 42.65 keeping a .50 stop

Good call!

Scalping is tough. You need to predict market moves within a few ticks and execute within milliseconds or else you lose. Having said that, I am not of those guys that think one method is always better than the other. At the end of the day, all that matters is that you make money. If eating...