5% - 10% profit per day trading

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http://news.yahoo.com/s/nm/20090316/bs_nm/us_markets_oil

"Its a very reasonable decision for OPEC to take at this point, but that means they shouldn't expect to see oil prices at $50 for the foreseeable future," said Jonathan Kornafel, Asia Director of U.S.-based Hudson Capital Energy in Singapore.

"The market will now turn its focus on U.S. economic data. We saw some weak data last week which may again pose some downside risks for oil prices," said Mark Pervan, a senior commodities analyst at the Australia & New Zealand Bank



Quote from InvestVision:

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.
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Quote from spanish89:

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

Once again i manged to fuck it all up by getting cautious!!! :mad: :mad: :( :(


pulled the trade for profit at 44.22, as it had spiked down 50 straight, and is coming in a striaght move from 48dollars still...,
seconds later it gapped down to 43.60s... :(

Atleast i got a good entry though, and im trying for a resell at 44.32


Nicola, elitejets, did extremely well on it though by holding.
 
i resold at 44.18 :)

was anothe rnice netry as straight into profit.


Although i hate this scalping with 12ticks spread, and still upset about missing the 80tciks before for only 30.. :(



target for this trade is 42.86
 
On the next leg down some selling should accelarate, this thing is very evil though and have my hand on the trigger. I am pretty sure there wil be quite a bit of long liquidation in the next two hours or so before the open.
 
Quote from Yrutman:

Holding 3 short now to get more comfortable
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Very nice entry mate... :)

You target is slightly lower than mine... ;)


ALthough if we get a big momentum down move with usa open im gna try holding this to 40.86 and just scale it down with stoploss.



Can i ask what 'time' you entered your trade though??
 
Btw opec president been talking again.

He says 93% compliance is best that they want, 100% is impossible.


Angola are only complying 15% with what they said they would cut though, and especially since the president is angolan its funny. :)
 
Plenty of longs trapped who are liquidating now, much more so than shorts as they were chasing the 50.00 with certainty, that is why we are going to be down over 4.00 over night. What goes up this quick comes down even harder!
 
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