5% - 10% profit per day trading
- Thread starter spanish89
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Good morning everyone!
I was just going over yesterday's trading activity to see what kinds of mistakes I was making and if I could prevent it in the future and noticed that I was making the mistake of fighting the trend for much of the day.
I am going to make couple of changes to my oil day trading strategy going forward to deal with this:
1) I won't enter a trade unless the 50 moving average on the 5 min chart is supporting my direction
2) I am going to trade QM instead of CL so I could use bigger STOPs and manage risk better
I was just going over yesterday's trading activity to see what kinds of mistakes I was making and if I could prevent it in the future and noticed that I was making the mistake of fighting the trend for much of the day.
I am going to make couple of changes to my oil day trading strategy going forward to deal with this:
1) I won't enter a trade unless the 50 moving average on the 5 min chart is supporting my direction
2) I am going to trade QM instead of CL so I could use bigger STOPs and manage risk better
http://www.abs-cbnnews.com/business/01/06/09/oil-prices-fall-asia-after-monday-rally
Iran's OPEC representative, Mohammad Ali Khatibi, said on Monday that the organisation would hold an extraordinary meeting in Kuwait next month, the state television website reported.
But he added the exact date has not been fixed yet and no invitation has been sent to OPEC members.
Iran's OPEC representative, Mohammad Ali Khatibi, said on Monday that the organisation would hold an extraordinary meeting in Kuwait next month, the state television website reported.
But he added the exact date has not been fixed yet and no invitation has been sent to OPEC members.
made 80 pips on a long at 49. this has recovered all that i lost yesterday plus some. i am trading peanuts so my gains are not like those of blackjack's or mjuk's. but its still real money - maybe enough to buy a big mac; a confidence booster all the same.
given that price is now trending upwards, i will look to buy at steep falls.
given that price is now trending upwards, i will look to buy at steep falls.
i think the price hikes are due to russia's increasingly aggressive stance on gas.
if russia keeps on turning off the taps, i wouldnt be surprised if a war breaks out over gas, not oil!!
if russia keeps on turning off the taps, i wouldnt be surprised if a war breaks out over gas, not oil!!
http://biz.yahoo.com/ap/090106/eu_ukraine_russia_gas.html
6 countries lose Russian gas - Tuesday January 6, 6:16 am ET
6 countries see halt in Russian gas shipments via Ukraine; EU calls cutoff 'unacceptable'
KIEV, Ukraine (AP) -- Six countries reported a complete shutoff of Russian gas shipped via Ukraine on Tuesday, in a sharp escalation of a struggle over energy that threatens Europe as winter sets in.
Bulgaria, Greece, Macedonia, Romania, Croatia and Turkey all reported a halt in gas shipments from Russia through Ukraine. Croatia said it was temporarily reducing supplies to industrial customers and Bulgaria said it had enough gas for only "for a few days.
The European Union in Brussels called the sudden cutoff to some of its member countries "completely unacceptable."
In a strongly worded statement, the EU complained that that gas had been cut "without prior warning and in clear contradiction with the reassurances given by the highest Russian and Ukrainian authorities to the European Union."
Up to Monday, The EU has said that the dispute would not affect end consumers in the coming weeks. The sudden drop over the past day however, increased the diplomatic pressure to find a solution.
Ukraine's state gas company Naftogaz said Russia's gas giant Gazprom had sharply reduced its shipments to Europe through pipelines crossing Ukraine, triggering the cuts.
"Our Russian partners are playing cat and mouse with us," said Oleksandr Shlapak, economic adviser to Ukraine's president. "These actions today can lead to serious problems not only for the Ukrainian but also for the European gas transport systems."
But Gazprom's deputy chairman, Alexander Medvedev, blamed Ukraine's Naftogaz for the reductions, Russia's state-owned RIA-Novosti wire service reported. Medvedev was quoted as saying in London that Ukraine had shut three out of four transit gas pipelines Tuesday morning, "and the situation is getting worse."
Naftogaz denied it was to blame for the drop in supplies and that it shut down the three pipelines.
Naftogaz spokesman Valentyn Zemlyansky said Gazprom itself rerouted gas to just one out of the four, while the other three have no gas.
"We did not turn anything off, there is simply no gas there, there is zero," Zemlyansky said. "How can we shut anything down if there is physically no gas there."
Russia had earlier said it was cutting gas to Ukraine by 20 percent, to compensate for what it claimed was diversion of gas by Ukraine.
Ukraine is refusing to pay $600 million Gazprom claims it is owed. Russia is also demanding an increase in the price Ukraine pays for its gas. Last year Ukraine paid Gazprom $179.50 per 1,000 cubic meters of gas, less than half of the average price European countries are expected to pay this year.
6 countries lose Russian gas - Tuesday January 6, 6:16 am ET
6 countries see halt in Russian gas shipments via Ukraine; EU calls cutoff 'unacceptable'
KIEV, Ukraine (AP) -- Six countries reported a complete shutoff of Russian gas shipped via Ukraine on Tuesday, in a sharp escalation of a struggle over energy that threatens Europe as winter sets in.
Bulgaria, Greece, Macedonia, Romania, Croatia and Turkey all reported a halt in gas shipments from Russia through Ukraine. Croatia said it was temporarily reducing supplies to industrial customers and Bulgaria said it had enough gas for only "for a few days.
The European Union in Brussels called the sudden cutoff to some of its member countries "completely unacceptable."
In a strongly worded statement, the EU complained that that gas had been cut "without prior warning and in clear contradiction with the reassurances given by the highest Russian and Ukrainian authorities to the European Union."
Up to Monday, The EU has said that the dispute would not affect end consumers in the coming weeks. The sudden drop over the past day however, increased the diplomatic pressure to find a solution.
Ukraine's state gas company Naftogaz said Russia's gas giant Gazprom had sharply reduced its shipments to Europe through pipelines crossing Ukraine, triggering the cuts.
"Our Russian partners are playing cat and mouse with us," said Oleksandr Shlapak, economic adviser to Ukraine's president. "These actions today can lead to serious problems not only for the Ukrainian but also for the European gas transport systems."
But Gazprom's deputy chairman, Alexander Medvedev, blamed Ukraine's Naftogaz for the reductions, Russia's state-owned RIA-Novosti wire service reported. Medvedev was quoted as saying in London that Ukraine had shut three out of four transit gas pipelines Tuesday morning, "and the situation is getting worse."
Naftogaz denied it was to blame for the drop in supplies and that it shut down the three pipelines.
Naftogaz spokesman Valentyn Zemlyansky said Gazprom itself rerouted gas to just one out of the four, while the other three have no gas.
"We did not turn anything off, there is simply no gas there, there is zero," Zemlyansky said. "How can we shut anything down if there is physically no gas there."
Russia had earlier said it was cutting gas to Ukraine by 20 percent, to compensate for what it claimed was diversion of gas by Ukraine.
Ukraine is refusing to pay $600 million Gazprom claims it is owed. Russia is also demanding an increase in the price Ukraine pays for its gas. Last year Ukraine paid Gazprom $179.50 per 1,000 cubic meters of gas, less than half of the average price European countries are expected to pay this year.
closed short positions with loss .
This f..in Russian gas dispute is causing more damage to oil prices ..
This f..in Russian gas dispute is causing more damage to oil prices ..
This is what is at the center of the dispute ......
http://www.bloomberg.com/apps/news?pid=20601087&sid=ahEFIoQVNePQ&refer=home
Gazprom raised its demands on Jan. 4 as Miller cited a possible price of $450 per 1,000 cubic meters for deliveries to Ukraine this month, reflecting the average price in countries bordering Russiaâs neighbor. Ukraine paid $179.50 for its Russian gas last year and says $201 would be fair in 2009.
http://www.bloomberg.com/apps/news?pid=20601087&sid=ahEFIoQVNePQ&refer=home
Gazprom raised its demands on Jan. 4 as Miller cited a possible price of $450 per 1,000 cubic meters for deliveries to Ukraine this month, reflecting the average price in countries bordering Russiaâs neighbor. Ukraine paid $179.50 for its Russian gas last year and says $201 would be fair in 2009.
mate good advice point 1 especially
what do u mean by qm and cl?
many thanks
Im not sure if i want to trade this at all till friday.
Since there is such shitty volume and liquidty still,
so the only movement comes in huge jolts, followed by hours of stillness before more jump.
And untill this gas stuff is sorted (friday is the day of the meeting between russia and ukraine), the price is going to keep rising.
Since it cant be 'priced in' like other news is, since its a physical thing that will be getting worse everyday, as if no gas is going to countries the price of the gas that is there will keep rising and getting more scary everyday.
So this could keep spiking to the mid/high 50s, maybe and hopefully even higher!!
BUT
The instant that the gas thing is sorted the price will crash!!
And by instant i mean SECONDS.
Will crash dollars in seconds as soon as its sorted.
It will fall back to the mid t low 40s, no matter how high it is coming down from.
And so the higher it now spikes the better,
and once it starts moving normally again then im gna feast of this!! 
But until friday russia arent gan do anything as they want the price of gas n oil to go back into the $100s+ lol
Since they are making more money each day that this drags on and the price is dragged higher.
So im now just going to wait and not trade at all till the gas thing is sorted.
Since there is such shitty volume and liquidty still,
so the only movement comes in huge jolts, followed by hours of stillness before more jump.
And untill this gas stuff is sorted (friday is the day of the meeting between russia and ukraine), the price is going to keep rising.
Since it cant be 'priced in' like other news is, since its a physical thing that will be getting worse everyday, as if no gas is going to countries the price of the gas that is there will keep rising and getting more scary everyday.
So this could keep spiking to the mid/high 50s, maybe and hopefully even higher!!
BUT
The instant that the gas thing is sorted the price will crash!!
And by instant i mean SECONDS.
Will crash dollars in seconds as soon as its sorted.
It will fall back to the mid t low 40s, no matter how high it is coming down from.
And so the higher it now spikes the better,
and once it starts moving normally again then im gna feast of this!!
But until friday russia arent gan do anything as they want the price of gas n oil to go back into the $100s+ lol
Since they are making more money each day that this drags on and the price is dragged higher.
So im now just going to wait and not trade at all till the gas thing is sorted.
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