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Nice job usman.

How was everyone months trading in FEB? I have had computer issues which were resolved my buying a new pc. :) Back to trading daily now. I have just put on a April-May CL calander spread. I got a $1 spread. I went for the month after the front month as there is already a $2.5 spread...

Try the CBOT website to start with. They have a 300 page pdf guide to market profile which is a good introduction.

Nothing for me really. Still have a EURO short open. I took a relatively large long-term position is oil via USO. I don't like picking tops and bottoms but the downside is very limited.

Thanks - tried all that stuff though.

Has anyone ever had problems with IGindex's charts? I had Vista installed following a computer problem last week and since then IG's charts close down after about 5-10mins without warning or displaying any message. Very annoying.

Oil over $38 on IEA supply shortage talk News wires US oil prices climbed above $38 a barrel today after the International Energy Agency said there could be an oil market supply crunch from next year once global oil demand begins to recover. The IEA warning gave upward momentum to a...

Thats amazing. I can't understand why they would mess you around though. The spreadbetting firm lose nothing to you. They hedge all their risk in the futures market and just collect the fat spread as profit.

I had a week off from trading due to a computer issue that took far longer than expected to resolve. It seems the weakness that occurs prior to a contract rollover has occured again. The volume at oil at the WTI terminal continues to be very high and storage space is limited so demand to...

Makes a lot of sense - thanks.

I think it is simply a short squeeze as traders wanted to take profits and go home at lunch on Friday it then trigger a load of stops as the price rose above resistance and penetrated the down sloping intermediate trendline which probably triggered a load more stops.

Well looks like oil is going to finish the week as boring as how it started. It looks like a normal range bound session despite the downward move in pre-market trading. My worst week for ages down c £1000 despite doing very little. I think this will also be the worst week for my CL based...

Short @ 39.00 target c $37 only £5 PIP Stop 39.20

Looks like we may get the break out I talked about before.

I think oil could be interesting today. You have a confirmed decending trendline and a flat base forming a continuation pattern. If we get a break of the descending trend line we may form a double bottom of the retracement and start moving higher or more likely if we break the base of the...

That looks fantastic. Out of your results you posted, what percentage are based on the semi-automated system and what percentage based on your discretionary system? You say your semi-automated system is based on volume and statistics are we talking market Profile or bolinger bands or...

I love this thread.

Well you just scale up in any market. If you are prepared to risk say £5k per trade (too much of a £100k account IMO) you need a 4:1 risk reward ratio which is not too hard to find. The hard part if knowing the probability of the set-up working to know if it is worth doing over the long-term.

I would evaluate your risk/reward profile if you are not using stops - is your profit target worth risking oil falling to $30?