5% - 10% profit per day trading

[InvestVision]

Quote from InvestVision:

Way to go Usman , glad to hear that contracts I know you will make it as you approach is very systematic

since I did not take any buys around 40 , did a short at 40.90 and closed now at 40.40

type read as short 41.90 , cover 41.40

 

[Blubaru_555]

first trade,
1 long @ 40.89
stop @ 40.55

update: ouch, just went low enough to touch my stop.

 

[InvestVision]

Quote from usman88:

what is the code for calender spreads in IB?
and hows the profitability calculated? e.g. 1 tick = how much $

at IB here is how it works
- there is no specific code for spread , details are at this link below
- say you entered spread at $1.20 , so spread is 1 contract long and 1 short , say it go to $1.30 then the profit is $100 ( similar to crude contract rise from 40.50 to 40.60 )

http://www.interactivebrokers.com/en/trading/orders/spread.php

 

[usman88]

thanks but this way ill be subject to $14k margin, and the last time i heard margin for crude calender spread was $600 for MFGlobal and 1 tick was worth more

 

[InvestVision]

Quote from usman88:

thanks but this way ill be subject to $14k margin, and the last time i heard margin for crude calender spread was $600 for MFGlobal and 1 tick was worth more

at IB also the margin is around 600 to 800 per contract
once you enter spread , if you look at your porifolio IB records are 1 long and 1 short usual month contracts but margin it keep the above range .

 

[Blubaru_555]

anyone daytrading oil today? i'm holding a long from 39.75 right now, hope to see us go back to 40.70s level

 

[InvestVision]

bought at 3978 , will hold till 4060-4070 range

 

[usman88]

I am heavily long at 4000 stop 3935 target 4245

 

[Blubaru_555]

Quote from Blubaru_555:

anyone daytrading oil today? i'm holding a long from 39.75 right now, hope to see us go back to 40.70s level

cashing out a little early, out at 40.61

 

[spanish89]

Im feeling gutted about taking a 5ticks loss earlier this morning,
instead of taking the gamble and holding for 5hours more till the highs,
but there was simply no logical reason for me to do it though..,
as dow dropped 40points in seconds, and after making highs at 40.86 while i was asleep it was starting to trend down..


Im looking to buy at 37.86 / 38.26.