5% - 10% profit per day trading

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this is another great long entry at these prices 5890
at this price one should not loose , even if it drop 50 cents ( highly unlikely ) , it will come back and by close it close flat 5890
 
I got out at 5820 with around 100 ticks loss on 20 lots. Anyways my mistake, SHould not have hurried and should have paid attention to the fact that market did not broke 5990 even after bullish inventories.

As far as tomorrow is concerned I am pretty sure we are gonna go up as todays move was one of the tactics big players employ to wipe out smaller traders. They do this especially for reversals i.e. selling on 'apparently' bullish news coz everyone else is buying. Thus rate does not falls. Then over the days due to lack of buying pressure (as big players are already short) market comes down drastically.

This isnt the case here as a lot of investment is coming in. $50 is history now, at least for 1 month. IMO todays move was to trigger stop losses. Tomorrow we move higher and break 6000 although i will be highly cautious
 
Quote from Blubaru_555:

took losses at 58.00 today, down 1500. holding a long from 57.70, need to recoup some losses!!
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Soz to hear that mate.

Ive been reading here every evening this week,
i managed to get onto the training course in a differnet location this week though so didn't trade like i had plannned to.


I havent looked at the chart,
but have seen the prices you guys have been talking about and how they have kept on rising and yet you still were buying....

But so can i just ask how comes you put in so much effort though mate into trying to anticipate direction and then trade it accordingly..,
Instead of just refusing to buy it above a certain price, and just waiting till it falls low enough for you to buy it mate?? :)



Im not critising or anything mate, im more just curious.

Since trying to anticpate directions throughout the day is alot harder n requires alot more effort than the 'only waiting to trade off extremes',
and is also more risky.


Although the rewards can be alot more 'frequent',
it just seems alot of effort and work to do.
 
Got out of my long at b/e. Honestly not sure where we're headed. We're starting to top out on oil, and the down trend could've already started. I need to stop contrarian trading so much. Just going to see where we're at tomorrow at the open, this month has been brutal and I need to get back to "basics" and trade daily s/r. I've been deviating like crazy from my bread and butter trading.

And how's it goin span? What do you mean by extreme? Can you define that?
 
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