5% - 10% profit per day trading

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Quote from InvestVision:

spnish chart is crisp and clean

i do not know about 40.26 but I agree with 45.26 short , if one places limit sell at 45.26 with target 50 cents profit ( as bracket order -> placing profit target at the time of limit order entry itself ) it is good setup and low risk , if it is executed order entry you 50 cents are almost guaranteed.

Recently I am noticing placing these limit orders with 50 cents profit objective built into the order itself showing good profits if it hits.
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Thanks mate.. :)

Glad you made money out of the upmove on thursday too, and didnt lose any cos of this overnight crash so far. :)


For the target on this though im going for in with teh big guns on this one and taking the piece of shit all the way down to 40.26!! :cool:

(I think its very likely this will break down to around the 36 level within the next few weeks,
but am looking for 40.26 within the next few days).



And the reason why i am so confident about this movement is because if you just look at that chart you can see how we have been bouncing between this range for the last 4months now...,

Since mid Feb its been in a steady uptrend from then untill thursday, (having tested the 48.67 level on tuesday and been thrashed back down very hard, which was my favourite trade that ive made this month).

It rebounded back up on thursday cos expecting opec to cut, bbut still failed to break 48.67, which is why i said back on friday that it was a switch of remarkable weakness,
from a previous show of remarkeable strength for the last few weeks when dow was crashing consistently down over 1500points.


And so if you look at the chart you can see how its been getting veter clumpy and crowded up around that 44/45 level for the last 9days now,
and this was ONLY because of the expectations of an opec cut coming.

Now that there was no cut and the next meeting not till june there is absolutely no bullish factors left for buyers to use as excuses for buying instead of short selling for the next few days... :) :cool:


And so its going to make the very simple transition from the highs of the range in the 45/46s, down to the lows of the range in the 39/40s.

Nothing especially big, only a 5dollars movement. :)
Could even split it into a nice 3.5down 1day, and down 1.5dolalrs at some point the next day.
(Nothing in that movement is unsual or rocks the boat at all).



And from a technical analysis point of view its formed a Diamond formation here,
which as ive said before is an extremely strong solid formation just like head n shoulders,
just abit rarer than head n shoulders.

But apart form H&S it is the only other formation im willing to trade off, but very happily do so. :)



I just really really hope we manage to get some sorta upmovement to 45.26 or as near to it as possible so i can get my trade in,
not miss the big move again. :(
 
It is looking very scary and frightening though, since its struggling to find anything to rise on at all.

Just been fitting into and hanging between the barriers set by the lines drawn on my chart a few weeks ago.. :(


And if it makes a move on the downside now, where its low of the day was 43.86 thats gna go instantly taking out any one who was foolish enough to buy today + gathering steam from more short sellers adding on the breakout. :(
 

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OPEC's stance disappoints oil market
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http://www.marketwatch.com/news/sto...x?guid={0211978E-A9CF-4D90-91CD-5C083E4AAC72}

"If they had cut production, they may have scuttled the recovery," he said. So while there may be weakness in crude from here, "much will depend on what we see in the [U.S.] inventory reports this week and for several weeks to come."
Kerr expects to see a steady decrease in supply -- and when OPEC meets again in May, members may very well decide to cut more of their production, he said.

It's clear that OPEC ministers looked at all the factors and "decided that since the oil price was already rising, inventories were falling, and they could realize another 800,000 barrels per day reduction by tightening their quotas, it would be prudent to stay with their present quotas and see where this all shakes out," said Charles Perry, president of Perry Management, an energy-consulting firm.

"OPEC also sees the value of not causing drastic movements in the price of oil, and this action will probably result in a steady increase in the price of oil, which is their objective," he said.
 
Quote from usman88:

I got in the last minutes of friday on 4695 with around 190 tickss profit per lot.
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Nicely done mate.. :)


You looking for an early sell entry today??
Or gna be waiting to buy at a low price??
 
Ok sell order is in for 45.26

just hope we get spiek up to there.


I will be willing to sell anywhere above 44.89 though,
as i dont wnat to miss the big down move off 500ticks, just for the sake of 40ticks better entry.


What levels is everyone else looking to sell at??
 
YAY!! :)


i sold at 44.50 after i saw gasoline crash from day high to day low, about 150tcisk in a fraction of a seconds... :)


and oil just fell again
 
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