CL Redux
- Thread starter schizo
- Start date
because the volatility was shaking me out of several trades, I decided to call on mr. shake-out's kyrptonite (aka avag down)... but I should have also avg up when it started going my way. In this case my stop loss & proft target was based on my unrealized p&l value.
Quote from BCE:
The thing is with stops though on a day like today, it's so volatile that it's really easy to get stopped out and then have it go the way you saw it 1 second later for what would have been a big profit. That's what happened with my last trade. Came within 1 tick of getting stopped out and within seconds I was up over 10 ticks and obviously should have held it longer. But you're right, you do have to use stops anyway in case the volatility jump really moves against you and continues.
As I've mentioned many times I'm just learning these contracts, CL and QM. And today offered some great lessons.
BBIB Bathroom break (which makes me think of mgmaggie) and see if I can get my data feed issues straightened out.
Close all , t think we will have higher short entry later
A lot of air between 89 and 87.50. 87.90 isn't out of the question and that is where I would start getting long for an intermediate term trade. But I'm looking to get short. Geo political BS and fear is already in the price. But then again price is all that matters and we can only make educated guess.
(With increased volatility the logical move, imv, is to widen your stop and reduce your size - or switch to the QM, not average down, which is particularly dangerous <u>with increased volatility</u> - just my 0.02)
VPOC still way lower, feeling sorry I took a break for milk and cookies and missed that .50-ish short.
(Be advised that if the Egypt crisis is solved peacefully over the weekend - quite likely - the market will have to discount all of a sudden all this Suez premium - then again the unrest could spread to Iran and <i>then</i> StarTraitor will see some real equity swings
)
VPOC still way lower, feeling sorry I took a break for milk and cookies and missed that .50-ish short.
(Be advised that if the Egypt crisis is solved peacefully over the weekend - quite likely - the market will have to discount all of a sudden all this Suez premium - then again the unrest could spread to Iran and <i>then</i> StarTraitor will see some real equity swings
)WASHINGTON, Jan 28 (Reuters) - U.S. Energy Secretary Steven Chu declined on Friday to say specifically whether he is worried that escalating Egyptian protests could disrupt Middle East oil supplies.
"We watch these things very closely, but the best way America can protect itself against these incidents is to decrease our dependence on foreign oil," Chu told reporters.
He cautioned that any "serious" disruption in the Middle East could have a "real harm" on oil prices. U.S. crude oil prices CLc1 briefly jumped more than $4 a barrel in Friday trading over concerns about the growing protests in the Egypt.
"We've diversified our oil supplies, but certainly any disruption in the Middle East means a partial disruption of oil we import," Chu said. (Reporting by Tom Doggett and Ayesha Rascoe; Editing by Lisa Shumaker)
"We watch these things very closely, but the best way America can protect itself against these incidents is to decrease our dependence on foreign oil," Chu told reporters.
He cautioned that any "serious" disruption in the Middle East could have a "real harm" on oil prices. U.S. crude oil prices CLc1 briefly jumped more than $4 a barrel in Friday trading over concerns about the growing protests in the Egypt.
"We've diversified our oil supplies, but certainly any disruption in the Middle East means a partial disruption of oil we import," Chu said. (Reporting by Tom Doggett and Ayesha Rascoe; Editing by Lisa Shumaker)
Cool chart Santa!
How predictable a bounce off of what was R2 why did I not carve that up. Oh yeah cuz I was make a G&T