what's a normal profit target? I get scared and take small profits, which are pretty small after it's all said and done, you know. What should my goals be on a trade? For instance, the trade I have on now is short @ 104.70, my stop is 104.96, my target is 104.52. Anything you can inform me about that?
CL Redux
- Thread starter schizo
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what's a normal profit target? I get scared and take small profits, which are pretty small after it's all said and done, you know. What should my goals be on a trade? For instance, the trade I have on now is short @ 104.70, my stop is 104.96, my target is 104.52. Anything you can inform me about that?
The thing is every day is different. Today is really choppy. At least the last few hours have been. If you had gone long near the LOD, then I'd say it would be wise to hold this longer. Don't know how long you've been reading this thread, but one of the best traders here, NoDoji, generally sets a minimum profit target of 20 ticks. But this is a soft target and she aims to let it run unless there is some reason to take that small amount. She'll probably tell you. You need to ask yourself why you're taking those small profits, which are okay. If it's out of fear that this will reverse against you then maybe that's not a good reason.
Also Visaria's comments are good.
ADD Another thing is profit targets are generally based on technical analysis of the charts, looking at support and resistance levels, and not necessarily a dollar amount.
so this is leaked API report numbers , let us compare this against real API numbers when released.
this is report is bullish for OIL price JUST by these numbers, only 1 Million barrels crude build and 8 M draw down on gasoline stocks .
this is report is bullish for OIL price JUST by these numbers, only 1 Million barrels crude build and 8 M draw down on gasoline stocks .
I didn't see Visaria's post, but yes, that is correct. And I thank you two very much. So, the trade I have on now makes no sense, right? risking .26 cents to get .18 cents.
I will be looking to add more down there...just a preliminary stop into the post RTH session. will adjust it once we open back up @ 5pm CST. I realize we do have a small report this afternoon, but this has worked for me more times than it hasn't, so stick with the plan. I don't like adjusting positions via add / subtract on this report...either stop out and see how it reacts or ride it and add overnight.
Everyone has their own "normal" the most important thing to remember is what we want and do are meaningless, all that matters is the price and therefore you must know what is significant and what isn't. There is a 70% chance sometime tomorrow we trade somewhere between 104 and 103.75. That sounds like a lot but if someone told me there was only a 70% chance of rain I would still go golfing. Best of luck and welcome!
PS.. I'm half shit faced right now so take anything I say with a grain of salt.
A couple of old articles on coal to liquids conversion
http://www.enn.com/pollution/article/37304
http://www.post-gazette.com/pg/06229/714268-28.stm
http://www.enn.com/pollution/article/37304
http://www.post-gazette.com/pg/06229/714268-28.stm
Shit faced is my language. unfortunately.