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i dont think oil is yet in a backwardation situation. spot price for nymex is 39 and cushing wti spot is 31. secondly on lack of cushing storage space, i think thats the symptom and not the cause. the cause being a lack of global demand. if the world was predicted to come to an end in 10...

i came to the same conclusion, though differently. if oil is spot prices are between 39-41 i have no idea why anyone would buy a february future at 43 odd and hold it or go long on it. there is nothing in the macroeconomic environment that will make oil prices rise beyond 43 or so.unless...

spanish, have you checked out cmcmarkets? i think their spread is lower than ETX and also their margin money structure is different

got my 40 points. wish this was real money.

going short at 41.4 exit at 4100

will probably wait for 4150. lemeee, do you also belong to the youth club epitomised by spanish and blackjack and porph (i think) ...:)

made 100 points off a short at 43 and exited at 42. stop loss of 100. demo account only. will trade live in the new year with a modestly funded account and hopefully emulate spanish, blackjack, porph and others. i need to start making enough money jan onwards to sustain self and family (some...

"I haven't LOST any money, ive simply SPENT £3,345 to purchase the experience that ive gained from this. " from a pure business view, you havent LOST any money. the only money you had to lose was the original capital. you have already recouped that capital several times and have...

50 pips on an oil short today at 40.72 demo account still, part of my learning curve

it should go back a few 100 pips, if not to the 44 levels. i was not surprised by the loss in price since i think this is a counter productive measure by opec. at the end of the day there just isnt enough world demand to hope that cutting supply will increase price. by the way i am not...

welcome. if i had a funded account, i would have made 200 pips today.. my first call which i posted here was right, i had then another 'buy' at 42.6 with exit at 43.6, which too came to pass. sticking my neck on the line now and predicting that oil will go to 44.5 using support...

looks like my earlier post was a good call. i had written that post when oil was at 45.47 and price is now 44.03 too bad, i wasnt on that ride. by the time i finished posting, oil had already dipped 30 odd points and didnt make sense to enter then. oh well, other opportunities will come.

spanish, a short about now for an exit at around 4420?

spanish, i can see the entries.. i mean the logic of your entries. on what basis do you come up with the exits?

i am trying to get the hang of this. if i am reading these posts right, oilt, spanish and you are trading nymex crude and lemmeeplay is trading brent crude. is that right?

feel free to get pissed off. i asked a query of spanish and spanish only. he has the prerogative to reply or not. all the rest of you can butt off.

"Goodness, have you read a single post on this thread?" to be fair to myself, i did start out reading the thread and then got distracted by all those having a go at spanish.

thanks spanish, and which charts do you use? the ones provided by etx? or subscribe to a separate charting platform? i guess you also trade to small times frames such has 1 hour or so.. thks.

spanish, which platform do you trade and which instruments? sorry if this has been asked before.