5% - 10% profit per day trading

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Quote from spanish89:


When i can instead get a job where i will be able to get a nice guaranteed pay-cheque every month without any stress! :) [/B]
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Pulling burnt bodies out of a fire is no cup of tea buddy...
 
Here is good trade spread if somebody watned to take ( low risk):

LONG: MAR 09 crude oil 33.90
short: APR 09 crude oil 41.90

this is a combined spread trade meaning you do both at same time.

this spread is currently $8 , usually it is supposed to be $7 (based on past 2 months) or less given we have 1 more week to go before expiry of MAR 09 contract .

I think when this crude drop settles even little bit by 1 or 2 dollars the spread reduces to $6.5 ( $1500 ) or $7 ( profit $7 ) in next few days.

The spread may go to $9 by end of next friday FEB 20 expiry but not so soon , but before that you will have a chance to exit with noprofit or some profit ..
 
Quote from Yrutman:

Well I lost a little over 2500 yesterday and I never trade with more than 10k in my futures account and its CL only. I have done some amazing things trading this product and not so amazing things this past year. I can tell you that there is a rebound on the way but I believe there may be a nasty drop ino the 33 level, but we are oversold and when oil gets oversold you have seen some pretty good rallies. I believe that can happen anytime including today whether or not we hit the 33 level. I plan on longing a contract or two myself right at the close.
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now you saw the 33 you asked :-)

I am also planning to enter few LONGS at these 33 range to avarage out , let me know your timing ...
 
just posting crude lowest price sofar on Dec 19 at 33.97 at contract expiry day ..

we have 8 more days to go for expiry of this MAR 09 contract

http://www.marketwatch.com/news/sto...92-E4A1-4366-B65A-24996B8FB7E7}&dist=hplatest



Crude oil for March delivery fell $1.96, or 5.5%, to end at $33.98 a barrel on the New York Mercantile Exchange, the lowest closing level for a front-month contract since Dec. 19, when the expiring January contract ended at $33.87. That close was the lowest since July, 2004.
 
Quote from InvestVision:

I agree with you , it can hit hard bottom .
Once bounces back we should see atleast 37-38 range before this contract expires (next friday??) .
Now the question is should we hold or close and wait for uptick ( holding on a solid base price) to re-enter. The problem with waiting for uptick (after close) is we do not know when that will happen. You see this morning it bounced to 36 briefly ..
If the solid base price forms quickly then there is risk of not entering at low especially after closing position at low price by taking loss ..
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It seems the above talked "base line " price for crude is 34.00 for few days atleast
 
Quote from InvestVision:

It seems the above talked "base line " price for crude is 34.00 for few days atleast
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I can show you why 33.52 was the lowest price of the day.... :)

(I havent just added this line on today btw, its been on my chart for weeks).
 
Quote from spanish89:

When i can instead get a job where i will be able to get a nice guaranteed pay-cheque every month without any stress! :)
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This is true. This week was terrible for me as well. I ended up losing money no matter what I did. My CL, currency trades were all mostly losers. Its been pathetic because my profitable trades are like $150 but my losers are $1000. It's times like these that makes me glad that I still have a regular day job, but my goal is to quit that at some point and trade for a living. The thought of working an 8-5 job for the rest of my life depresses me, while at the same time, losing money on bad trades depresses me too. I am going to scale back the size of my position for a few days and just trade very small so I can trade without any emotions and hopefully get back in trading groove.

As for CL's loss of volatility, it reminds of tech stocks after the dot com crash in 2000. High tech stocks like YHOO, AMZN, EBAY, etc , that were swinging 5-10 dollars a day, had crashed to 20s price range and went into a .25-.50 choppy movement and never went back to normal high volatility. To trade volatility we need to trade things are in a bubble.
 
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