cashed out at 51.00
5% - 10% profit per day trading
- Thread starter spanish89
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closed 5130 , let us watch now
nice exit IV, got it on the dot. i set a price and went to lunch, came back and was already out. got out too soon.
dollar gained EURUSD 1.334 to 1.326 after Fed announcement , so oil gave up 30 cents
- many analysts are saying these days oil listen more to dollar than equity market ( comparatively )
do a 1 minute chart between oil and EURUSD it is clear what mentioned below ( from 14:15 pm Fed announcement .. )
well it happens some times , you got it many times
with the limit sells one way it is advantage you get some profit .
with too big limit can caused lost oopertunity, here is my example today , I am LONG at 50.80 and I put SELL at 51.09 and went out on important work for 15 minutes . What happened it touched 50.98 then traced back to 50.40 stated 1 hour . so I have wait all the way to come back to 50.80. In this wait I lost 10k opportunity as I can not buy at 50.40 as all capital is tied.
say If I had 50.95 as small limit sell , I would not have been in this wait and used the low 50.40 opportunity to BUY ...
well my case below is for NOT using STOPS, i use stops some times , but with crude the way MMs play the game , I do not put STOPS many times as there is lot of pull push by these MMs
Analyst estimate vs. EIA released numbers
U.S. Oil Inventories:
For week ended April 24.
Crude Gasoline Distillates Refinery Use
EIA data: +4.1 -4.7 +1.8 -0.7
Forecast: +2.2 -0.2 +0.7 +0.1
U.S. Oil Inventories:
For week ended April 24.
Crude Gasoline Distillates Refinery Use
EIA data: +4.1 -4.7 +1.8 -0.7
Forecast: +2.2 -0.2 +0.7 +0.1
i hope this is true. i have a few charts to compare crude, euro/usd is one of them. lately, crude oil doesn't seem to be correlated much with any market besides RB/HO, and that's making it a little more difficult to trade for me.
and about stops, i think everyone has their own philosophy about them. for me, there's a time and place for stops. for instance, if we're touching a major top/bottom or trend, placing a stop beyond that point in a trade would be one way to get high risk/reward. of course these are obvious to MMs and many times they move the markets enough to eat these stops.
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