9.1 Million Barrel Build in Crude Oil. Wow. Get The Hell Out.

Quote from brocklanders:

Man... sorry to hear that, seriously. I've found in my trading that when I'm not in sync with the market moves, for better or worse, I will almost always regret trading that day or sometimes that week.

Maybe you should knock off early this week and come back fresh next week. I think the trade will only get more choppy as we head into Labor Day weekend.
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I knew from the morning this day was gna be shit.. :(

But i cant afford to just take the week off, cos i only now have £1,800 left in my trading account, and thats all the mone i have in the world.
Only have £16 in my bank account.

And im currently holding a loss of -647!! :'(


And im so scared of holidng till tomorrow with inventories...,
But if i cut this now i only have £1,200 left to trade with! :eek: :( :(
 
Quote from spanish89:

I knew from the morning this day was gna be shit.. :(

But i cant afford to just take the week off, cos i only now have £1,800 left in my trading account, and thats all the mone i have in the world.
Only have £16 in my bank account.

And im currently holding a loss of -647!! :'(


And im so scared of holidng till tomorrow with inventories...,
But if i cut this now i only have £1,200 left to trade with! :eek: :( :(
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Stay in !

I just had a major sell signal, am short at 117.6
 
Quote from fluttrader:

Stay in !

I just had a major sell signal, am short at 117.6
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LOL


I would love to have sold at 117.60.

My trades were at 114.08, 114.27 and (closed the 1 from 115.27), i made all those sell trades thinking it was the top of the spike and so selling off the breakout.

And because i have no spare capital though to widen my stoplosses much past $121 its extremely uncomfortable! :(


I dont understand why this spike came this afternoon though!!? :eek: :confused: :mad:

This is why i have said previously that in my view most traders must be very dim and stupid, since the hurriance started on monday, but no-one cared or reacted to it then.

But so i just dont understand why it takes them so long to react to it.... :confused: :eek: :confused:

And then how they all seem to react at the exact same minute though, to cause that spike in a matter of seconds almost!
 
Quote from spanish89:

LOL

I dont understand why this spike came this afternoon though!!? :eek: :confused: :mad:

This is why i have said previously that in my view most traders must be very dim and stupid, since the hurriance started on monday, but no-one cared or reacted to it then.

But so i just dont understand why it takes them so long to react to it.... :confused: :eek: :confused:

And then how they all seem to react at the exact same minute though, to cause that spike in a matter of seconds almost!
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really playing with fire here spanish. you have it all wrong here. it is pretty obvious to me, since i am CL neutral what is going on here.

the traders are not stupid, they simply do not care about the news like you do. remember oil has been tanking for weeks now. prices historically do not like to continue tanking much further on fresh bad news when already correcting like this.

its really not that hard to understand man. go take a walk and calm yourself, ive been there myself. just cool off take 2hrs off from the computer and go to the gym or whatever.

you really should be careful holding shorts here without a real plan and just hoping it comes back.

recipe for losing imo, since looking at CL daily chart the most likely move from here is for a push back to 150 ish for CL over next few weeks/months

even if oil is done right now its gonna prolly make a double top first before it crashes. im not saying its going to rally for sure, but its the most likely move.

i am guessing the CL daily chart will look like FSLR or AAPL chart soon with a double top. i dont trade CL much but if i did i would be long around here with target of 145ish

now why should you care about this? you arent taking such a long term timeframe right? if im right about the double top then from what ive seen of CL price action it is likely to move rapidly upwards from this dip bottom area we are in now. thats how it moves, very violent coming up from these areas as dip buyers step in relentlessly.

please set an exit point and dont get killed on this trade!
 
Quote from BlackBison:

really playing with fire here spanish. you have it all wrong here. it is pretty obvious to me, since i am CL neutral what is going on here.

the traders are not stupid, they simply do not care about the news like you do. its really not that hard to understand man. go take a walk and calm yourself, ive been there myself. just cool off take 2hrs off from the computer and go to the gym or whatever.

you really should be careful holding shorts here without a real plan and just hoping it comes back.

recipe for losing imo, since looking at CL daily chart the most likely move from here is for a push back to 150 ish for CL over next few weeks/months

even if oil is done right now its gonna prolly make a double top first before it crashes. im not saying its going to rally for sure, but its the most likely move.

i am guessing the CL daily chart will look like FSLR chart soon with a double top. i dont trade CL much but if i did i would be long around here with target of 145ish

now why should you care about this? you arent taking such a long term timeframe right? well from what ive seen of CL price action it is likely to move rapidly upwards from this dip bottom area we are in now. thats how it moves, very violent coming up from these areas as dip buyers step in relentlessly.

please set an exit point and dont get killed on this trade!
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i dont see another rise coming, since everyone has now seen what happens when we get to over $125,, no-one can afford it so demmand just dries up.

I hate playing with fire though! :(

Im just so soo angry at myself for not waking up in time and making the £250+ i would have from the short trade setup i had been waiting for!! :mad: :( :(


The only thing scaring me now is the oil inventory number tomorrow.

So im gna cut 1 my trades for about £220 loss.

And leave the other 1, but widen the stoploss so il be safe, even if we get under supply tomorrow.

Its just this **** hurriance thats coming that worrying me lots, because thats what caused this spike today, and it wont even hit for over 1 week still though!

:(
 
...and then along came Gustav, and provided a rich trading opportunity.

Any meteorologists in the house?

Okay, so Gustav is tracking towards Cuba/Florida, or the open Gulf of Mexico?

If it tracks towards Cuba/Florida, the time to sell the pop is done, no?

If it tracks towards the open Gulf of Mexico......hmmmm?
 
Quote from ByLoSellHi:

...and then along came Gustav, and provided a rich trading opportunity.

Any meteorologists in the house?

Okay, so Gustav is tracking towards Cuba/Florida, or the open Gulf of Mexico?

If it tracks towards Cuba/Florida, the time to sell the pop is done, no?

If it tracks towards the open Gulf of Mexico......hmmmm?
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BUY BUY BUY BUY BUY
 
I closed them both off at 116.30 area, and so took a loss for the day of £707!!! :( :( :( :(


I have just over £1,400 left, and so going to use that to cash in when the oil inventory number comes out tommorow.


I knew it would be tough going from £5,500 capital, to £2,000..,
but its just so ainful to get such bad luck like these fuking stuid randow $5 spikes just becaue theres a hurriane tahst already been known about for 2days!! :(
 
capital preservation is key remember. even if oil tanks later today and you would have gotten even you made the right move.

you cannot expose yourself to that much risk when your account is only £1400

nice work exiting a bad situation, many people dont have the balls to get out of a situation like that as they are just too afraid it will go back in their favour and they will miss out

but that is just a gambling attitude, when your mind is shot like that you may as well go to the roulette wheel at the casino, you aint got no edge anymore.

sit back and relax in the knowledge that you saved your capital after you made some impulsive dumb revenge trades and you can get up tomorrow and keep destroying the 'game' as you normally do. you will make back the money lost in no time.

well done
 
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