5% - 10% profit per day trading
- Thread starter spanish89
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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 here in the US, oil is already over-extended and we are provided two bad choices: 1) to trade with the trend but itâs over extended or 2) take a riskier position and go counter trend. Both cases are bad for trading.
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 here in the US, oil is already over-extended and we are provided two bad choices: 1) to trade with the trend but itâs over extended or 2) take a riskier position and go counter trend. Both cases are bad for trading.
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 get a shorting opportunity today.
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 get a shorting opportunity today.
did the daily 1 actually hit $43 for anyone??? :eek: 
so you could have cashed out your buys from the 33s at the 43 level???
I am so sooo fucking gutted cos my stupid net been dead all day and so i couldnt get in and buty at 33.40 at that perfect head n shoulders that formed there, teh formation that i wait for everyday as te pefect long enetry!! :'(
so you could have cashed out your buys from the 33s at the 43 level???
I am so sooo fucking gutted cos my stupid net been dead all day and so i couldnt get in and buty at 33.40 at that perfect head n shoulders that formed there, teh formation that i wait for everyday as te pefect long enetry!! :'(
Quote from spanish89:
did the daily 1 actually hit $43 for anyone??? :eek:
so you could have cashed out your buys from the 33s at the 43 level???
I am so sooo fucking gutted cos my stupid net been dead all day and so i couldnt get in and buty at 33.40 at that perfect head n shoulders that formed there, teh formation that i wait for everyday as te pefect long enetry!! :'(
wot can u do. it just bad luck
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