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We need to break 43.43 first it is well established S/R.

No minimum. Maximum 'bet' risk is £10,000 for a normal account. So hypotetical maximum tick is £1,000 per tick based on a 10 tick stop loss. I am not sure spread betting is worth while if your trading style targets moves that are too shallow. My minimum target is normally 100 PIPs so a...

I would use IG Index if I were you. They use WTI. Brent has far less liquidity so presumably you pay a higher spread? IG Index is normally 6-7 PIPS.

I have to say, this thread has decended into farce but it is bloody entertaining on a quiet Friday in the office.

It is due for a spike back to 13100 area but should keep going lower.. I exited my short earlier for 150 PIPS.

Here is your problem though mate. No one could make sound decisions under your stress. Why don't you do what most other people on here do and get a job and trade part-time until you build your account up, refine your technique and enjoy life a bit?

Forget any hostility. I have enjoyed watching you and Porph make it. Some people want to be told all the answers without doing the hard work themselves.

Poor day for me. Missed two set-ups due to being out busy in the meeting and out at a 'networking launch' then took the third valid set-up and got stopped out for £300 loss. In a EURO/USD short from 13000 which might make some back.

If it is any consolation for those holding long positions, I think we put in a short-term bottom at 40.60 and are about to break higher.

I am not bullish on oil. The range is too thin for any trades for me today. My system does not work in such a shallow range.

Oil is looking very bearish. DOW is rallying hard and oil is doing nothing but drifting lower.

Next significant support is 40.50. I hope you are out Spanish.

I can't see anymore plays today. Oil is at the bottom end of its Average range so a short is unattractive and going long against this steep downtrend is also not exciting. I think we may drop to 42.20 area - rising trend line - before we see a reversal.

Until we have a clear break of 50.50 on strong volume, I maintain a neutral biase. I still believe there to be significant downside..

Good day for me so far. One winning long and one winning short - total £1090 so far.

Sorry to hear about your loss. How much do you have left in your account?

Atleast you're in profit. I came home today and am happy I am only down £150 rather than £200 after reviewing my P/L.

I am also doing poorly. Missed a long set-up that would have worked for 100 PIPS. Had one losing short, one losing long and one winning short. Overall down £200. Would have been up £300 If I had not missed my long and the short that I was shaken out of was not entered into correctly...

Very nice - well done.

I have had two shorts fail and one work for a little over break even so far, The short-term trend looks bearish. Although 4550 is strong support. The 'ping-pong' volatility seems to be evident between the narrow range S/R. Doubt I will get anymore set-ups before the economic data is...