5% - 10% profit per day trading

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Quote from clunk:

my system doesn't keep me in a trade for long..I do agree it was a good entry and it's now starting to pop but it was refusing to do much while I was in it.

I won't get rich on 9 ticks unless I do big size :D
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I wasnt criticising you or anything liek that though mate.. :)

Can i ask how long you spent after having 'locked on' to oil and were watching it slide before you made your buy??


Because everyone who waited for the lows had extremely good patience. :cool:
 
I'd been watching it for about an hour, saw it hit lod then bounced on a biggish candle (2 min chart) either it would continue to pop and I would miss a decent entry or as I hoped would retest.

I went long on the retest but it hit $38.00 3 or 4 times and was looking weak so I bailed. As is usual with trading it bounced after my exit:D

Not complaining though, a win is a win.

Hopefully tomorrow will be a dollar:p
 
"The demand destruction amid continued weakness in the global economy, coupled with excess supply in the market at the moment, is likely to continue to dominate sentiment," said Nimit Khamar, analyst at Sucden Financial Research.

http://www.marketwatch.com/news/sto...x?guid={BA08448D-E5B6-49CD-83AF-1C638F2B7742}

Crude prices remain "susceptible to further declines, even a test toward recent lows before some base is established," he wrote in a research note.

"Clearly, the two crises do not have the same sense of urgency they once had, as participants have by now not only discounted the conflicts, but both issues seem to be relatively ring-fenced," said Edward Meir, an analyst at MF Global.

"Having said that, as long as the two conflicts 'hang' over the markets, we suspect they will likely provide a modest element of support, and prevent crude from retesting its December lows," Meir wrote in a research brief.

Quote from InvestVision:

Russia-Ukraine gas deal for Europe in doubt

http://www.theglobeandmail.com/servlet/story/RTGAM.20090110.weugas1001/BNStory/International
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I had a good 40 cents at the begining of the day and if you see all my posts I am 200% convinced this is "OIL SELL market" .

and there I did a stupid thing against my preaching , took a temporary LONG that killed the whole thing..

Lesson learned .. do not go against what you convinced 200% :-)

holding the loss LONG overnight to cover some losses ..

silverlining for today's drop : my 42.5 "CALL options I sold" ( details on last week posts ..) cemented my gains ...
 
Today has actually been an extremely odd day for oil... :confused:


Every single spike has had such vicious selling from someone,
every time.

But the down trend has been so sooo slow and drawn out though, like theres alot of people trying to hold it up..,
but 1guy who slashes it down every single time it starts to rise!! :mad: :mad: :confused:


Im now just gna hold this overnight and hope the asians give us some decent pullback after this 26% crash... :)
 
Heads up to the UK traders in this thread.
Programme tonight on BBC2 - Million dollar traders.

Its supposed to be a bit like 'the aprentice' but they take some people who dont know a thing about the market, train them for 2 weeks, give them a load of money, and see how they do. Should be good.
 
I will rebound...dont you worry
the only thing which you are doing wrong IMO is putting everything on stake on this one. I wouldnt do that. Proper money management is required for high stakes

Personally speaking, I dont think any one should go short from this point. I have had a hard lesson last time market touched $86(everyone was talking about $60). These are quite low rates.

Oil is NEVER going to get free. Whatever trade you wanna do, be on the buy side. Thats the safe side. Even if you get stuck in a trade, it will come back some time and you dont even get to use a stop loss
 
Aloha mate, i dont like risking so much money per trade, but i always endu havinge xtremely bad luck like last week, and so its very tough to buildup capital.

Especially when i have to withdraw every week t few weeks for living cost and rent,
so i have to be earning over 30% profit every month just to keep breaking even on my rent n stuff.

And if i have losses from that capital then that goes to 40 t 50%. :(



THis has crashed 26% in 5days though, so extremely unlikely it wont pullback.

today was just an extremely odd today though.

i really dont understand where all the moevement has gone to recently though... :confused: :confused: :eek:
 
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