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5% - 10% profit per day trading
- Thread starter spanish89
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I'm so sick of this !! I can trade everything else but I just keep losing on OIL.
WHY is it not bouncing. then it bounces from nowhere !!!
WHY is it not bouncing. then it bounces from nowhere !!!
exactly. I am NEVER trading it again.
leave my long running and if it gets stopped out then thats it
leave my long running and if it gets stopped out then thats it
Quote from usman88:
oil market is too dead for my liking. Moreover stop hunting is also taking place
i have IB broker account in US
when US markets are closed for holidays and no holiday for Europe markets , is there anybody in this forum with US IB account trading using 'IB europe' markets ? please let me know I wanted to know how that is working
Quote from advfntrader:
I'm so sick of this !! I can trade everything else but I just keep losing on OIL.
WHY is it not bouncing. then it bounces from nowhere !!!
Some markets you get a feel for and some you don't.
I can't trade Gold to save my life but I trade with guys who clean up on gold every day.
Stick to the ones that win for you.
Nic
Oil over $38 on IEA supply shortage talk
News wires
US oil prices climbed above $38 a barrel today after the International Energy Agency said there could be an oil market supply crunch from next year once global oil demand begins to recover.
The IEA warning gave upward momentum to a market undermined by a raft of bearish economic data from Asia.
Japan's economy shrank in the last quarter by its most since the first oil crisis in 1974, hit by an unprecedented slump in exports, which is likely to lead to more calls for extra stimulus steps to fight the deepening recession.
The impact of the recession is also being felt in South Korea, where January exports dropped by a record 33.8% from a year earlier, even worse than forecast.
US light crude oil futures for March delivery were up 65 cents at $38.16 a barrel by 1004 GMT in electronic trade, after gaining $3.53 on Friday.
The New York Mercantile Exchange is closed for Presidents Day and will reopen on tomorrow.
London Brent crude for April rose 29 cents to $45.10, maintaining a premium to US oil due to high stock levels at the main US storage hub in Cushing, Oklahoma.
The IEA's executive director, Nobuo Tanaka, told reporters on the sidelines of a conference in London he expected world oil demand to resume growth from next year, rising by about 1 million barrels per day in 2010.
"Currently the demand is very low due to the very bad economic situation but when the economy starts growing, recovery comes again in 2010 and then onward, we may have another serious supply crunch if capital investment is not coming," Tanaka said.
Analysts see most oil prices trapped within a fairly tight trading range for the time being.
"We continue to maintain that crude prices will be trapped in a sideways band for the next several weeks," brokers MF Global said in a note to clients.
"Rallies above $50 look vulnerable, as given the deteriorating global macro backdrop, we do not think prices north of that level will be sustainable."
Oil's jump on Friday was largely boosted by renewed optimism that a giant US stimulus package could help pull the economy out of a 14-month recession, while the gains were further encouraged as traders booked profits by selling the spread between front and second month futures contracts.
US President Barack Obama on Saturday hailed congressional approval of the $787 billion economic stimulus bill as a major milestone in the country's economic recovery and the White House said he would sign the legislation on Tuesday.
Obama's aides warned Americans on Sunday not to expect instant miracles from the $787 billion economic stimulus bill he will sign this week, but said it would help eventually.
Oil prices have tumbled from their peak above $147 a barrel last year, as the economic downturn has spread to all regions of the world, cutting energy consumption.
Quote from InvestVision:
Friday official close around 37.50 .
hope it will bounce to 38.0 in sunday overnite session ( monday asian market time) so that we get a one chance for shorting at 38 level .. if we do not get 38s in asian market time it may be difficult to get 38s US Tuesday mornings .
weigh in your thoughts ..
we are now 36.75 as anticipated above ..
it seems we may not get 38.0 to have one final SHORT sale ...
I closed my SHORTS towards end of Friday due to long week end. I should have keep it.
Quote from InvestVision:
we are now 36.75 as anticipated above ..
it seems we may not get 38.0 to have one final SHORT sale ...
I closed my SHORTS towards end of Friday due to long week end. I should have keep it.
entered LONG APRril contract at 41.15 , note LONG april not March.
waiting for March Short if it reach around 37.25
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