Spanish, why did you decide go short yesterday at $49ish ? - I ask as it was $1 below the top of the hourly trendline, therefore it turned before it should.
I can see no indicators as to why I should have shorted there :(
Porph you are 100% correct - you need to cut losses sharp and let profits run. yesterday I had stops of 100 points that were hit twice.
I widened one stop as I "thought" it wouldn't be hit but it was.
my comment was that i have rarely seen Oil move that +- 500 points on a day. so if...
V8, the best advice I can give is to cut losses short on Oil, it could go 500 points lower for all you know ! its so dangerous to trade, stick to your stops and limits