5% - 10% profit per day trading
- Thread starter spanish89
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good to see you back , we miss you here 
missed this limit order by $0.5 ( limit order at 893 ) where as it traded 893.5 today morning , 2 contracts missed profit $2k :-; ( now trades at 903 )
Thanks guys
Yes spanish its 45.50
Ive started a new journal(but that is for 1 account where Ill be trading to make monthly income for myself) As some of you know Ive other accounts too(which are bigger in size) and we have to decided to go long and wait till it reaches $50 in all our accounts. So basically its position trading.
As far as oil price is concerned, consider yourself in the seat of Saudi Arabia or any other oil producing country. Would you
1)rather not oil output in the Mar 15 meeting risking $30 oil(25-30% drop in price and revenues)
OR
2)You would cut oil output leading to certain $50 average price and 10% increase in revenues?
To make your decision easier, you have OPEC, EIA and IEA all cutting demand forecasts. Would you still continue producing more?
IMO OPEC would write their own death sentence by not cutting outptut.
Coming to this current drop in prices(from 48 to 42 today), we had a massive sell off. Retracement to $4550-4600 is very likely(most prolly on friday). Did you guys just looked how oil kept on dropping today and yesterday. It seemed as if oil would certainly go to $30 in a week no matter what. IMO thats exactly how big players operate. They manipulate the rates in such a way to 'force' every small player into shorts and then ka boom...price shoots up.
And as far as being long is concerned, with adequate margin at current rates one shouldnt be afraid of staying long. All it takes is one event related to Iran, Nigeria, Israel/Palestine etc.
Moreover we also have a bottom on daily chart.
In the end, my view is that we will be touching 4500-4600 on friday and on monday, even if OPEC does not cuts output, a test of 4850 is certain
Yes spanish its 45.50
Ive started a new journal(but that is for 1 account where Ill be trading to make monthly income for myself) As some of you know Ive other accounts too(which are bigger in size) and we have to decided to go long and wait till it reaches $50 in all our accounts. So basically its position trading.
As far as oil price is concerned, consider yourself in the seat of Saudi Arabia or any other oil producing country. Would you
1)rather not oil output in the Mar 15 meeting risking $30 oil(25-30% drop in price and revenues)
OR
2)You would cut oil output leading to certain $50 average price and 10% increase in revenues?
To make your decision easier, you have OPEC, EIA and IEA all cutting demand forecasts. Would you still continue producing more?
IMO OPEC would write their own death sentence by not cutting outptut.
Coming to this current drop in prices(from 48 to 42 today), we had a massive sell off. Retracement to $4550-4600 is very likely(most prolly on friday). Did you guys just looked how oil kept on dropping today and yesterday. It seemed as if oil would certainly go to $30 in a week no matter what. IMO thats exactly how big players operate. They manipulate the rates in such a way to 'force' every small player into shorts and then ka boom...price shoots up.
And as far as being long is concerned, with adequate margin at current rates one shouldnt be afraid of staying long. All it takes is one event related to Iran, Nigeria, Israel/Palestine etc.
Moreover we also have a bottom on daily chart.
In the end, my view is that we will be touching 4500-4600 on friday and on monday, even if OPEC does not cuts output, a test of 4850 is certain
And btw commenting to the movement on the close.
A couple of mins before the drop, oil just kept on dropping and it was looking like we will close near 4150 if not below it and suddenly at the close and after it, we shoot nearly $1 upwards. IMO this indicates the end of this downward move. I would be really surprised if we break $42 tomorrow. If we do, then that would really be a huge bearish sign pointing towards $37
A couple of mins before the drop, oil just kept on dropping and it was looking like we will close near 4150 if not below it and suddenly at the close and after it, we shoot nearly $1 upwards. IMO this indicates the end of this downward move. I would be really surprised if we break $42 tomorrow. If we do, then that would really be a huge bearish sign pointing towards $37
i agree with you analysis on opec usman..
i just hope that its not already fully priced in,
that saudi arabia dont say anything between now and friday about focusing more on compliance to previous cuts instead of new 1s,
and that the IEA and opec demand forecats cust on friday dont lower oil.
i wana cash in tomorrow evening though.
I will take 46.86 if i can get that by the close, but wont hold overnight.
And will only sell on friday if its over 53.86
Although i wana see what happens at 50.89 as thats a key level
i just hope that its not already fully priced in,
that saudi arabia dont say anything between now and friday about focusing more on compliance to previous cuts instead of new 1s,
and that the IEA and opec demand forecats cust on friday dont lower oil.
i wana cash in tomorrow evening though.
I will take 46.86 if i can get that by the close, but wont hold overnight.
And will only sell on friday if its over 53.86
Although i wana see what happens at 50.89 as thats a key level
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