5% - 10% profit per day trading
- Thread starter spanish89
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as far as general short squeeze is concerned, why would traders do it when we had so bearish news?
Another explanation might be the weekend fear but then why the drop?
Still if we look we technically settled on a slightly bullish note. My best guess is that some funds did the buying and small traders went short in the end causing the price to decline a bit.
Whatever the case is, if the stimulus package is approved we are going up. The blasting away of resistances around 4170-4200 was a good sign for the bulls
Another explanation might be the weekend fear but then why the drop?
Still if we look we technically settled on a slightly bullish note. My best guess is that some funds did the buying and small traders went short in the end causing the price to decline a bit.
Whatever the case is, if the stimulus package is approved we are going up. The blasting away of resistances around 4170-4200 was a good sign for the bulls
Sorry we rollover on the 16th Feb but I was informed that the ETF's were covering their shorts because of the vote on the US stimulus package coming up and the worry that they could not cover them if there was a big rally after the stimulus package was passed and then we passed into the next months contract which was $5 higher.
Hope this makes sense now. So many people trade those ETF's now that they really would have that many shorts, yes.
Vote on the stimulus package is tonight in the senate
Hope this makes sense now. So many people trade those ETF's now that they really would have that many shorts, yes.
Vote on the stimulus package is tonight in the senate
ALoha mate the fall came from lack of buying interest before the nonfarms number as everyne knew it wasnt gna be a celebration number, and then when it came and was bad it was perfect trigger to start some selling.
However when the dow opened and siked 150points in a few mins it caused oil to start its rise,
especially since 38.62 was a medium strength support level.
Aloha mate i only made 1trade this week, was about 45ticks profit at £4 per tick.
So about £160 profit after spread.
I just looked at teh oil chart and i am so fucking gutted that i missed that huge spike at 6pm that would have been beautiful to sell down!!!
I went to bed at 5.30pm though (1hour before) cos i was choking up alot of blood and so needed to sleep to get out of the pain.
But i guess atleast i know this phase of badluck ive been goning trough since the start of the year still hasnt passed yet,
and so until it does pass i am simply gna maybe 1 t 2trades per week max, if i even make any at all.
I may have missed 2k of easy money today, but atleast i didnt lose any of my money, so thats some comfort atleast.
Anyone else traded the head n shoulders formation off that spike and sold at about 41.96 though??
Ive found an incredibly great website age that give syou a list off all the chart formations,
and even explains how best to trade them.
So well worth a look for everyone, even those who already know most formations and how to trade them,
ateast now you can put a name to them..
http://www.coveredcallswins.com/chartpatterns/BestBullish&BearishPatterns.html#rounding-tops
The 1 that has gripped my interest most is the diamond top formation.
As ive seen it quite alot of times before, (its what we had yesterday evening at the top of that spike, and so i we had this formation fresh in our mind could had taken an easy 150+ ticks from selling it),
but normally i passed it off as just a double top that could easily breakout.
The main formation i have focused and specialised in trading are head n shoulders,
but this diamond top formation is very similar, and about the same level of frequent and high profit, for only very little risk still.
and even explains how best to trade them.
So well worth a look for everyone, even those who already know most formations and how to trade them,
ateast now you can put a name to them..
http://www.coveredcallswins.com/chartpatterns/BestBullish&BearishPatterns.html#rounding-tops
The 1 that has gripped my interest most is the diamond top formation.
As ive seen it quite alot of times before, (its what we had yesterday evening at the top of that spike, and so i we had this formation fresh in our mind could had taken an easy 150+ ticks from selling it),
but normally i passed it off as just a double top that could easily breakout.
The main formation i have focused and specialised in trading are head n shoulders,
but this diamond top formation is very similar, and about the same level of frequent and high profit, for only very little risk still.
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