5% - 10% profit per day trading

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the war is old news now.
the rise from low 30s t 40s was cos of the war back on friday.


next thing that affected it was the fact that oil and gas rose when expected was fall.

Then the fact that refiners operated 2% less last week than expected caused slight rise,
and then that huge 14% spike was the end of year shorts squeeze! :cool:

The russia / ukraine thing caused a big overeaction, but thats now being relaised how much overeaction it was.



It touched 45 for a few seconds on wednesday evening...,
But now its down at 42.66, so 20ticks profit for me at mo,
target is 40.26 / .86



The future things that will now affect oil this week will be-

*If israel send troops into arabs.

*http://www.upi.com/Business_News/2009/01/01/Iraq_opens_new_oil_fields_to_bids/UPI-77171230836159/
Iran saying they gna SUPPLY 2million+ more barrels of oil per day!! :D

*If middleast ceaseifre happens.

*If russia restart the supply of gas to ukraine.
 
http://www.msnbc.msn.com/id/12400801/page/1

Here I pointed summary points for Oil prices in 2008 from this article which basically
a) Oil started bull run with
- emerging India/china demand rise coupled with
- hedge funds buying futures with high levaraged easy money
b) price collapsed
- with 2 million US job cuts in 2008 ,
- deep recession and
- hedge funds forced de-levarage to sell to meet customer redumptions ..
- US people using 3.3% less gasoline in 2008 comapred with 2007


1) Oil's collapse this year ended a bull market that began in 2002, when crude traded at $17.85 a barrel. Prices jumped 57 percent in 2007 to $95.98 a barrel. Prices increased rapidly 2008, fueled by speculation that soaring growth from China, India and other emerging economies would outpace demand for crude. A weaker dollar helped drive up prices to a record $147.27 a barrel on July 11 as investors dumped investments in the U.S. currency for crude.

2) Prices, which many industry analysts described as out of control, tumbled in July as a credit crisis in the U.S. mushroomed into a global slump in consumer spending and industrial production. Earlier this month, crude on the New York Mercantile Exchange went for $33.87, the cheapest pricetag on a barrel of oil in almost five years.


3) Ritterbusch said excess liquidity early in the year spurred hedge funds to invest in oil, positions that they were forced to sell in the second half of the year as credit began to dry up.

4) The U.S. losing nearly 2 million jobs since the recession began a year ago. The unemployment rate in November jumped to 6.7 percent, a 15-year high, as employers eliminated a staggering 533,000 jobs in that month alone.

5) Demand for oil has fallen so fast, buyers have had difficulty finding somewhere to store it at the end of the year.

The January contract, which expired Dec. 19, settled at $33.87, the lowest level since early 2004 as brokers and traders attempted to unload supply for whatever price they could get. U.S. stockpiles have risen at the key storage facility in Cushing, Oklahoma, and tankers carrying millions of gallons of crude float around the world with no destination in mind in hopes that prices will rise.


6) Ritterbusch notes that figures released Wednesday by the U.S. Energy Department's Energy Information Administration, show demand for gasoline fell 3.3 percent in 2008, but are down just 2.2 percent in the past four weeks.

Record prices at the pump slashed demand and Americans cut spending across the board. Americans drove more than 100 billion fewer miles (160 billion fewer kilometers) between November 2007 and October 2008 than the same period a year earlier, making it the largest continuous decline in American driving in history, according to the Federal Highway Administration.
 
Bloody hell i alomost had a heart attack just now when i signed into ig to see the oil chart and it was showing that oil opened at 44.63!!! :eek: :eek: :confused: :confused:


I looked at the chart though and it doesnt show anything close to that,
but it shows oil has opened up nearly 80ticks at 43.36s!! :eek: :( :(


I know market has only just opened 10mins ago and cos its light volume there may be no strong selling instantly..,
but it just really scared the fuck outta me and shook me up seeing this... :/



After spiking up more than 20% in just a few hours in a straight move with no pullbacks i thought everyone would be rushing out to get huge sells in at this high level as quick as possible though... :eek: :confused:

Since all everyone does is now sell oil down.
Every single little 1dollar movement even is sold down hard every single time...

But now we have a huge $8s, 20% spike and no-one is trying to get sells in???!! :confused:
 
K its currently bang on the 41.86 level, went down to .79, but i knew it was gna go backup to .86 as this is the 1st support.


Net key level if it can break this is 41.26, and il think il cash in there instead of going for the 40 ticks more
 
etx still havent updated their system to allowing smaller stoplosses like i asked for, but ive used my min 100 ticks sl/ to lock in atleast break even now.
 
K i pulled the trade as market was at 41.83, since i couldnt lock in profit with stoploss and so it was very risky holding £1000 open and having chance of losing it all of oil just pulled back $1 up, after coming down $4 so far straight from the 45s.


Needless to say a few seconds after i cashed out oil is now down to .52!! :mad: :mad: :(


So its missing out of over £360 cos tjose few seconds... :(
 
and now its touched .26 as only 3ticks of the lowest touch, and now bounced back up to the .40s


Im gna try getting another sell in if we can get bounce back to the mid .80s,
target 40.86
 
Went in short as market hit 41.52, which could be slightly too early as id set sell order to go in when market touhced .82,

but fill price is 41.47, targte eit price is market touching 40.80


and this trade is at £6 tick
 
Quote from spanish89:

Went in short as market hit 41.52, which could be slightly too early as id set sell order to go in when market touhced .82,

but fill price is 41.47, targte eit price is market touching 40.80


and this trade is at £6 tick
More...

at this minute the price is 42.04

earlier I had my short cover set at $39 , now change it to $41 since market seems moving slowly.
I feel it may do a down to 41 again ( it already did once to 41 .. ) and bounce up before going down to $40 level ..
 
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