CL Redux

Quote from trader198:

I do not know what you want. if you just trade intra-day, former session's low/high is good enough, even half hour ago data is good enough, since what we as a trader need know is where it will be three minutes late or half hrs late, who cares those past data, those are opportunities lost. normally I will start to trade forward month contract around 18 of each month, then end trading it around new month's 18.

those major highs/lows are very important, but mean nothing if you just try to catch 0.1 or 0.3 point move
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Well, I'm a big fan of TRENDLINES and I'm as good as dead if I can't draw them on the charts. Once every blue moon when the schizophrenic market is retesting the old high, I need to have accurate date to connect the dots.

Quote from trader198:

who cares those past data, those are opportunities lost.
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Frankly, I find that remark especially offensive. You obviously don't understand how I trade just as I don't have any clue about your system. Hence, it sounds downright condescending to pretend that you do. If what you say is true, then do you mind demonstrating your trading prowess by posting your trades in real time tomorrow? That's what we all do here by the way. Thanks in advance and I'll look forward to those trades tomorrow.
 
Well i decided to just hold those 400 calls outright overnight.

Smart move on my part, or at least lucky. Although I feel a little dirty profiting from the long side when this has no business going up.


Anyway, i just hedged in my position now with some short contracts. Will dump it all at the open.
 
I mean, you've got to marvel at the fact that crude is up like 6% in the last 30 days, and close to 5% in 3 days.


Mind you, the dollar is also up around 5% during this time.

And supplies are building in the US like no one has seen before.


Even gasoline supplies are building.

I realize when the usage story turns it will turn quickly, but I have to believe if something doesn't manifest quickly this thing is going to plunge. I'm going to pick up some June puts today on USO there is bound to be a drop here at some point.
 
I am a baby trader. I am still refining my trading methodology, so far my entry is good, but my holding is poor (too short), my ultimate objective is to catch major intra-day move, not several minutes scalping, that is too random to me . I will not join real time trading post, that will affect my trading. I need total focus to achieve gain. sorry



Quote from schizo:

Well, I'm a big fan of TRENDLINES and I'm as good as dead if I can't draw them on the charts. Once every blue moon when the schizophrenic market is retesting the old high, I need to have accurate date to connect the dots.



Frankly, I find that remark especially offensive. You obviously don't understand how I trade just as I don't have any clue about your system. Hence, it sounds downright condescending to pretend that you do. If what you say is true, then do you mind demonstrating your trading prowess by posting your trades in real time tomorrow? That's what we all do here by the way. Thanks in advance and I'll look forward to those trades tomorrow.
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Well this pretty much sucks... New highs are scary cuz there is one less resistance level (the old high) LOL!! The hard part about swinging with just a plan and no actual stops is saying this price level wasn't in my plan so get the hell out which is just what I will do today maybe 10:30 or 11 I'll shop around for an exit point. I'm staring at an hourly TL which at this hour is at 83.25ish and I suppose if we somehow get below that today I'll stay short but 85 seems like it would happen first. Oh well my straddle likes this :) Have a great day everyone.
 
Quote from schizo:

Oh my god, this pig is soaring without me!

What the hell was behind that spike? Does anyone know?
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I think it's the good economic news out of Europe and Asia.
 
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