5% - 10% profit per day trading

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Cashed all those oil buys in now... :)

(My stupid cautious safety side came in again and i dropped £2 at 67.80 spike...

it rose to 68.20 within next 5seconds so i missed £60!! :(


But ive counted and ive made £261 after spread profit today! :D (Paying between £36 t £60 spread cost per trade now that is!!)


And that is when i have been being cautious and scaling down trades from that £5 tick to just £2/3.


So thats now back up to £461 so far for the week.
 
Ooooh took another £42 profit from getting my sell in at the very top tick of that spike, and then cashing in just 5ticks off the lowest tick of the pullback! :)

I so soooo much ish oil could have a 2points spread like that ftse, cos i would be doubling up my current profit levels each trade nearly!! :p


Thats now £303 for the day (clear portfoilio now apart from my hbos long).

And £503 for the week, which im extremely pleased with. :)


I think im now gna have a shower though and holdout till we either;
Fallback to 67.69 level, where if we for support i will buy £3/4 per tick, tightish stoploss at just belowdown at the 67.07 support, and the target level at 69.26.

OR

Hit the 71.26 level, that could be sellable, although i wouldnt relaly like to be selling in this market now.
 
Quote from paul_alan:

you were down over £700??!!
Were you just gonna hang on to it until it came back? Is there a point where you would have cut your losses or just risk the whole account??

Im glad it came back for you because i dont like to see anyone lose money, but your just gambling, dude. (you pretty much said the same thing yourself) You can of course make money like this, but not as a job.
More...

Its not very big tick wise though, the ATR must be in the region of a coupel of $ on crude?
 
First, sure Spanish is gambling, but all of probability theory came from a study of the odds in gambling. He is playing the odds.

He has watched the price action in oil obsessively for a year, so now he has a pretty good idea of the reaction pattern of the community of supply chain managers and refiners that make up the big players that trade oil. Now he has a pretty good sense of the direction of reaction, but not how far it will move, so he is not letting his bets ride long.

Spanish: If you look at the price action of GE vs oil, does GE lead or follow or move simultaneously?
 
:(:(:(:(

I went long at 67.86, had set target at 68.14...


cashed out for a £3 loss....

3seconds later it hit what my target was and i missed out on £60 more!!! :mad: :mad: :mad:
 
Sigh

I made the foolish mistake of trying to 'redo' that trade, even though inside i knew the timing and market action to have a quick restest of that level was gone... :(


Ive gotten into a long from 67.93, stoploss $1, so max i can do is breakeven with £0 today if that gets hit.

Target has been set at $69.13 though, based not especially on the opec, as thats stale news, but on quite a few various factors that i could explain later in more detail.
 
:/

I cashed those 3 in fro after spread profit of just £27 at $68.08! :eek: :(


Which is extremely disappointing as i was holding it and watching the market for over an hour, and turned down £109 profit when it spiked up to the 68.40s, but my target had been for 68.86 - 69.26..

Especially when it did form support bases at every one of those levels that i forecasted it would.


But it made a quadruple top at the 68.14 area now, and i had got in at 67.93which was only 1tick below where the latest not so strong support base was, so i didnt want to risk that being broken.
(i had moved my stoploss to 67.18 though just incase it started breaking supports).


So thats now £327 for the day, and £527 for the week so far, which isnt bad i guess.





Next move will be that when opec announced cut sell off the rally, as once its priced in then itl be a case of 'higher price will mean even less demmand', so should expect to see a little pullback to the 66.80 area or 65.52,
But then itl be time for some buying back, as even if demmand is down people will still keep driving cars n using oil, and opec wont sell at ridiculously low prices, so oil will still have to have a decent enough price.
 
Aww yay im very happy now cos even though it wasnt the perfect £100+ exit i wanted, i guess when you trend trade you dont use the second-by-seconds chart to close out on spikes like i normally do with my 'opportunist' style of trading,
but instead just close out at general level of resistance.

And the price dropped sharply 59seconds after i cashed in, broke .94 and now trying to break through .80 support!! :D :D


I think thats me done for the day.


How come no-one else is able to multi-task and come and post on here while trading too though??? :eek: :confused:

Cos i feel like a right loner sitting here talking to myself on a website fourm!! LOL :p :cool:




Il post my trade history just 2 re-show and prove that i do take losses, dont just gamble wildly! lol

Just my losses are normally under 2-digits most weeks. :D




Trade History
Contract ID Status Order # Date/Time Buy/Sell £/Tic Price Profit/Loss
FTSE 100 -Daily Cash
20969 Open 5962786 23/10/2008 08:25:00 Sell 1 4076
20969 Open 5962843 23/10/2008 08:25:00 Sell 1 4076
20969 Closed 5962843 23/10/2008 08:29:00 Buy 1 0 Stop Loss Move
20969 Closed 5962864 23/10/2008 08:30:00 Buy 1 0 Stop Loss Move
20969 Open 5962864 23/10/2008 08:25:00 Sell 1 4076
20969 Closed 5962921 23/10/2008 08:33:00 Buy 1 4056 £20.00
NymexCrude Dec Fut - 19 Nov, 08
21320 Open 5959225 22/10/2008 15:35:00 Sell 3 67.88
21320 Open 5959271 22/10/2008 15:35:00 Sell 3 67.88
21320 Closed 5959271 22/10/2008 15:37:00 Buy 3 0 Stop Loss Move
21320 Closed 5959377 22/10/2008 15:43:00 Buy 3 0 Stop Loss Move
21320 Open 5959377 22/10/2008 15:35:00 Sell 3 67.88
21320 Closed 5959474 22/10/2008 15:49:00 Buy 3 68.58 £-210.00
21320 Open 5959723 22/10/2008 16:06:00 Buy 3 67.93
21320 Closed 5959872 22/10/2008 16:19:00 Sell 3 68.09 £48.00
21320 Open 5959883 22/10/2008 16:21:00 Buy 3 68.1
21320 Open 5959891 22/10/2008 16:21:00 Buy 3 68.1
21320 Closed 5959891 22/10/2008 16:21:00 Sell 3 0 Stop Loss Move
21320 Open 5960713 22/10/2008 18:16:00 Buy 2 66.85
21320 Closed 5960818 22/10/2008 18:29:00 Sell 2 67.33 £96.00
21320 Open 5960830 22/10/2008 18:30:00 Buy 2 67.24
21320 Open 5960831 22/10/2008 18:30:00 Buy 2 67.24
21320 Closed 5960831 22/10/2008 18:30:00 Sell 2 0 Stop Loss Move
21320 Closed 5960832 22/10/2008 18:30:00 Sell 2 0 Stop Loss Move
21320 Open 5960832 22/10/2008 18:30:00 Buy 2 67.24
21320 Open 5960858 22/10/2008 18:30:00 Buy 2 67.24
21320 Closed 5960858 22/10/2008 18:33:00 Sell 2 0 Stop Loss Move
21320 Closed 5961134 22/10/2008 19:21:00 Sell 2 67.41 £34.00
21320 Open 5961152 22/10/2008 19:22:00 Buy 2 67.44
21320 Closed 5961839 22/10/2008 20:41:00 Sell 2 66.44 £-200.00
21320 Open 5961875 22/10/2008 20:43:00 Buy 2 66.43
21320 Open 5961881 22/10/2008 20:43:00 Buy 2 66.43
21320 Closed 5961881 22/10/2008 20:44:00 Sell 2 0 Stop Loss Move
21320 Closed 5961883 22/10/2008 20:44:00 Sell 3 0 Stop Loss Move
21320 Open 5961883 22/10/2008 16:21:00 Buy 3 68.1
21320 Closed 5961963 22/10/2008 20:48:00 Sell 2 66.67 £48.00
21320 Open 5962028 22/10/2008 20:51:00 Buy 2 66.81
21320 Open 5962032 22/10/2008 20:51:00 Buy 2 66.81
21320 Closed 5962032 22/10/2008 20:51:00 Sell 2 0 Stop Loss Move
21320 Open 5962327 22/10/2008 16:21:00 Buy 3 68.1
21320 Closed 5962327 23/10/2008 07:41:00 Sell 3 0 Stop Loss Move
21320 Open 5962328 22/10/2008 20:51:00 Buy 2 66.81
21320 Closed 5962328 23/10/2008 07:41:00 Sell 2 0 Stop Loss Move
21320 Closed 5962331 23/10/2008 07:42:00 Sell 2 67.42 £122.00
21320 Open 5962339 23/10/2008 07:45:00 Buy 2 67.6
21320 Open 5962340 23/10/2008 07:45:00 Buy 2 67.6
21320 Closed 5962340 23/10/2008 07:45:00 Sell 2 0 Stop Loss Move
21320 Open 5962351 22/10/2008 16:21:00 Buy 3 68.1
21320 Closed 5962351 23/10/2008 07:47:00 Sell 3 0 Stop Loss Move
21320 Open 5962353 23/10/2008 07:45:00 Buy 2 67.6
21320 Closed 5962353 23/10/2008 07:48:00 Sell 2 0 Stop Loss Move
21320 Closed 5963074 23/10/2008 08:51:00 Sell 2 67.81 £42.00
21320 Closed 5963106 23/10/2008 08:54:00 Sell 3 68.09 £-3.00
21320 Open 5963153 23/10/2008 08:58:00 Buy 4 68.01
21320 Open 5963156 23/10/2008 08:58:00 Buy 4 68.01
21320 Closed 5963156 23/10/2008 08:58:00 Sell 4 0 Stop Loss Move
21320 Closed 5963164 23/10/2008 08:59:00 Sell 4 0 Stop Loss Move
21320 Open 5963164 23/10/2008 08:58:00 Buy 4 68.01
21320 Closed 5963188 23/10/2008 09:02:00 Sell 4 68.21 £80.00
21320 Open 5963241 23/10/2008 09:11:00 Sell 3 68.41
21320 Closed 5963266 23/10/2008 09:16:00 Buy 3 68.27 £42.00
21320 Open 5963311 23/10/2008 09:26:00 Buy 3 67.86
21320 Closed 5963698 23/10/2008 10:06:00 Sell 3 67.85 £-3.00
21320 Open 5963819 23/10/2008 10:18:00 Buy 3 67.93
21320 Open 5964820 23/10/2008 10:18:00 Buy 3 67.93
21320 Closed 5964820 23/10/2008 11:56:00 Sell 3 0 Stop Loss Move
21320 Closed 5965083 23/10/2008 12:28:00 Sell 3 68.02 £27.00





And i worked out that in those trades i missed out on £468 extra that i earnt through aying that as comission fees today!! :eek: :eek:
 
Hi spanish, good stuff.

I've made 2 trades today for a total profit of £83.77 taking my account to £5177.01

I'll probably leave it until after 6pm when i can focus a bit more.
 
Ooooooh oil just crashed down to barely above $66!!! :D :p :cool:


I wonder how many longs got caught ut by that! :D


I wont be buying it till the its under 65.52 i think., then itl just be at the lowest intraday level, and will be holding that till the 66.26 area as 1st target.
 
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