5% - 10% profit per day trading

[Armstrong]

Quote from The Trojan:

I get a gun and shoot him - makes it more painless and gets it over and done with

That is not my intention. But you are free to do whatever turns you on, if that is indeed what you want as long as you can deal with the consequences.

 

[NO:1 OILTRADER]

Quote from mccullek:

Spanish, that's where following price comes in handy. If the news affects price, then we see it instantly and react. I think you need to know for certain when big news is going to be released and be prepared that something big could happen at the time, so that's a good time to exit or tighten your stop, etc., but what the news says is really irrelevant until you see how prices react to it.

I also always trade with a safety stop, so if it's really that big of a news story and I'm on the wrong side and can't react quickly enough, my stop is hit and I'm out looking for a new entry.

The point I was trying to make is that if the news is relevant to prices, you will see it on the chart. I just go with what the charts and prices are telling me to do. I don't need the news to tell me that prices are going up or down. I see it.

Also, I'm not trying to knock it for you, just commenting on how the news can mislead you many times. If the news works for you, by all means, use it.

I know this is aimed at spanish but thought I'd throw in my views.
if the news in question is not as expected then the price will react occordingly, i mean, the further out the expectations the further the price will most likely spike, therefore, giving you a certain edge. spanish made some great calls yesterday to which i made over £100, not bad for 50p per point, (think its about that much, cant acces history at mo), this was done by spanish listening to ransquark and hearing the barrel cut was more than expected then by hearing it was wrong. he done this mighty quick and if you'd have been workig off price alone, would not have known why it was doing what it was doing, or more to the point, try and pre-emt the market, which is what tradiong is about

just my personal views.

Meli.

 

[coolshades]

50 pips on an oil short today at 40.72

demo account still, part of my learning curve

 

[The Trojan]

aloha spanish,

If you're getting screwed with the inventory fiigures, why not just avoid them? You have no edge it seems and you're just playiing catch up so why bother. Do you think in the long run you can gain from it than you lose with the information you have?

I don't really follow the Oil market, there's too many unknowns. I do live cattle and a bit of livestock. It's so easy - all I have to do is look at the weather and if it's sunny I buy and if it looks like it's raining I sell. I'm currently sitting in a nice profit on my live cattle long as people are buying roasts as it's coming up to xmas, also the mild weather has been helping them too.

 

[mctom]

Crap--lost a few bob today --didn`t reckon on this fall so steep.

 

[spanish89]

Normally the inventory number goes fine.


I saw it come and saw market fall, i bought in at the very low of the spike for the bounce at 42.60

Had set target at 43.92.


Market the bounced back to a few ticks above that target, however the badluck of the month continued..
Every other time that i set target it got touched, but then market went trhough it and i missed over £1000 most days cos of it..


However cos they were all shouting 4.2million barrels cut i cancelled that target was was thinking it would spike to $45/6+.
The target was just over 100ticks and was right at the top of where market spiked, so would have been a beautiful end to the year...

And i still feel the pain from that trade on tuesday night when i put the trade in through the wrong account, and then next morming it was £1,300... for teh virtual account.



But ive still made £7,277 profit tis month, from a starting acocunt of under 4k,
so not gna be too sad.


I has set stoploss to 39.60 btw so was out at the top before that big crash to the low 38s came.

 

[pocrel]

hi spanish how are things mate sorry to see you made a big loss and profit on oil recently it defied all the things that kept pushing it back up weak dollar rise in oil seems again this correlation has broken down again, we could be looking at 20dollar oil again ?? very hard to know how to play this market, the logic is not there, maybe demand is gone but surely there must be more bounce backs along the way. I was suprised it broke the 43 level after the opec cut, i was going to go long but because of the support but i glad i did nt beginning to learn to stay on the side lines instead of trying to play the news

 

[spanish89]

I lookd and the daily contract for oil has expired but is now up 600ticks in a huge super spike form 7.30 to now.

While i know this is cos the feb contract is now gna be traded at that price,
the jan contract doenst expre till tomorrow.


So wont there be a huge huge amount of buying now in this jan contract???

Since you can buy oil at $36 through it.


When the daily contract it will cost you $42!!


:eek: :eek:




I never had any of these roll-overs or any of that sort of stuff,
but i have an extremely nasty feeling that in some sick twisted sort of luck the jan contract could rise a few dollars too now, and i will miss it

 

[pocrel]

very interesting spanish but i am avoiding these end of contracts after last month rememeber our short squeeze? never happened so very difficult to predict whats going to happen best maybe leave it play out and start a fresh or am i being boring ha

 

[spanish89]

Would this be an easy sell to make 100s of ticks???


by selling that contract that they call ''daily'', but hold it overnight, and let the 16% spike pullback??