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

The problem with you is that you don't know what you're doing. You read the news, you interpret the news, then you tell yourself oh it definitely has to go this way.

The market doesn't have to "definitely" go one way or another. I told you at the beginning of this thread, it's not always as obvious as you think. If it's that easy, all you need is a newspaper and $1000 and you're on your way to being a millionaire.

Make your trading decisions based on charts and how prices move. And if you're not sure, don't go long or go short. Just watch.


Quote from spanish89:

I feel so sick!!! :'(


I actually do feel like being sick.

I now only have £864 left in the whole world to trade with / live off!!! :'( :'(


WHAT THE FUCK HAS BEEN GOING ON WITH OIL THIS WEEK!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
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Quote from polpolik:

The problem with you is that you don't know what you're doing. You read the news, you interpret the news, then you tell yourself oh it definitely has to go this way.

The market doesn't have to "definitely" go one way or another. I told you at the beginning of this thread, it's not always as obvious as you think. If it's that easy, all you need is a newspaper and $1000 and you're on your way to being a millionaire.

Make your trading decisions based on charts and how prices move. And if you're not sure, don't go long or go short. Just watch.
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Apart from this week all my trading wa sjust on S&R levels.., and i was making 5% to 10% profit per day, each day consistently for weeks and weeks doing and just selling.

But this week with all this hurricane drama coming in its completely fucked me over!! :'(
 
Quote from spanish89:

Apart from this week all my trading wa sjust on S&R levels.., and i was making 5% to 10% profit per day, each day consistently for weeks and weeks doing and just selling.

But this week with all this hurricane drama coming in its completely fucked me over!! :'(
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When volatility increases, you are suppose to cut down your SIZE and reduce your risk. I believe that you did not take this key money management issue into consideration.
 
Quote from Landis82:

When volatility increases, you are suppose to cut down your SIZE and reduce your risk. I believe that you did not take this key money management issue into consideration.
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I bailed out at 117.35.... :/

If id stayed in id have lost everything! :eek: :/


I just cant understand this week though!! :( :(

For the last 2monsth i was making a few hundred quid per day on average, per day every day, by just selling using the S&R levels.

Theres was lots of volatility, but i cashed in on it all, as it was all logical and systematic moves due to the volatity.



But this week it has just been completely random though, and thats what i dont get.. :(

Losing the money is 1thing.., but if i atleast understood what bit i had got so wrong about the fundamentals id be a little more comfortable.


But basically this week a storm came, no-one cared monday. Tuesday 1st no-one cares but ten everyone cares and oil rockets 6dollars.
next oil rises before inventories cos the storm, we get slightly higher number and oil falls!

Then today strom getting neaer and more powerful, we get barely and rise, and then huge huge crash down to 114s!!!





:confused: :confused: :confused: :confused: :eek: :eek:
 
This is just me but I got a weird feeling that crude might end at 117-ish today.

I'm not buying though nor am I recommending. Just a gut feel.
 
Quote from BlackBison:

yea why cant the big traders act in really obvious predictable ways so everyone knows exactly what they are doing and can front run them...

gee i wonder why, tough one...
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in case you didnt see this post i made.

btw if your system worked before but does not now then now you know in future not to trade when you get big news and crazy swings. your method obviously only works in calmer market conditions.

so now you sit back for the next few days and construct a new strategy for these volatile times with play money trades.

thats what i did last summer when subprime first hit. massive volatility killed me for a few days, but then i adapted by trading smaller size and using wider stops and targets.

i didnt just start crying about how 'crazy' and 'illogical' the market was being. i stepped back after a few losses and realised i had to come up with some new ideas to fit the situation.
 
Quote from BlackBison:

in case you didnt see this post i made.

btw if your system worked before but does not now then now you know in future not to trade when you get big news and crazy swings. your method obviously only works in calmer market conditions.

so now you sit back for the next few days and construct a new strategy for these volatile times with play money trades.

thats what i did last summer when subprime first hit. massive volatility killed me for a few days, but then i adapted by trading smaller size and using wider stops and targets.

i didnt just start crying about how 'crazy' and 'illogical' the market was being. i stepped back after a few losses and realised i had to come up with some new ideas to fit the situation.
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Im not gna trade anymore till all this hurricane nonsense is over, since the only people who can actually make money are the people who have the expensive instant real time oil news streams and weather news constantly.


But for you it would have been very different though i bet mate...

Because you probs had a few thousand quid capital atleast, and you also probs had a few thousand more in your bank account as savings.


For me though this £864 is all the money i now have in the world.
I have a flat till end of november, then have £800 rent per month after that to pay.
And have nearly over £3,000 creditcard debt at the moment due to furniture and stuff... :( :(

So i need to get back to earning a few 100quid profit per day, each day like i was before, as soon as possible, or il basically end up in extremely sad situation. :(
 
Quote from spanish89:

since the only people who can actually make money are the people who have the expensive instant real time oil news streams and weather news constantly.
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Sad, but you just don't get it.

Also, why the hell are you trading when you barely have any money left to survive? I think you should cut your losses, go find a job or go back to school, then come back when you're properly capitalized.
 
well stepping back is great. if you dont you are going to be broke.

wait for conditions to return to favourable ones for your system. if you are bored and MUST watch the markets just play money trade any moves with pen and paper.

you can then begin to have new ideas for future similar situations
 
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