Day Trading Crude without indicators.

Quote from mfbreakout:

02-15-2012 Pre open
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Tried short at 101.94 with stop loss 102.04 . Got stopped out at higher price at 102.12.

Wow- 102 got taken out with some FORCE. Long 101.74 on pull back. out 102.04 +30.


Net= +14. that's why we use STOP LOSS.
 
Quote from mfbreakout:

02-15-2012 Pre open
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Looks like Historical pattern analysis came through- probability of taking out 101.84 in the next 2 trading session 71%. I wish some how i can figure out that after hitting 102.54 , price will retrace to 101.30 (lol)
 
Quote from mfbreakout:

02-15-2012 18 cars traded but noting to show for. But one has to keep on trying.
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Long 101.42 out 101.88. +46

One trade with wrong size put a damper for a short time but I do not trade SCARED, I try to trade CAUTIOUSLY. BIG DIFFERENCE.
 
From reuters.com
Iran has stopped oil exports to six European states in retaliation for European Union sanctions imposed on the Islamic state's key export, its English-language Press TV reported on Wednesday. "Iran cuts its oil exports to six European countries," Press TV reported. Press TV said Iran has stopped exporting oil to Netherlands, Greece, France, Portugal, Spain and Italy. Brent crude oil prices were up $1 a barrel to $118.35 shortly after the announcement. The EU's 27 member states have decided to stop importing crude from Iran from July 1 over its disputed nuclear programme.

Wed Feb 15, 2012 7:57am

However, Reuters later reported that Iran's oil minister denied the report, saying that if such a decision is made "it will be announced by Iran's Supreme National Security Council ."

So, we trade based upon levels and risk/reward as we get NEWS too late any way.
 
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