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farmerjohn1324

I was having so much fun trading S&P futures, (I won my trade 3 times in a row. Profited about $1700.) that I decided to try oil futures.

CLV20.

Anyone can see that oil prices will be up in the future. Just no telling exactly how long that will take...

Now what I forgot to take into consideration was the bid/ask spread of this contract. Seems like I'm starting out $23,940 in the hole!!! I'm just hoping I break even before I'm forced to sell for a huge loss.

The ask price is 0.26 above the listed contract price. The bid price is -3.42 below!!! What a rip off.
 
farmerjohn1324 said:
Now what I forgot to take into consideration was the bid/ask spread of this contract. Seems like I'm starting out $23,940 in the hole!!! I'm just hoping I break even before I'm forced to sell for a huge loss.
More...

When I open a trade I am always in the hole by the difference btw my TP and Entry.
From there you got to know how much % you're willing to be drawn deeper by the market.

Prospect Theory.

Good luck.
 
farmerjohn1324 said:
Now what I forgot to take into consideration was the bid/ask spread of this contract. Seems like I'm starting out $23,940 in the hole!!! I'm just hoping I break even before I'm forced to sell for a huge loss.

The ask price is 0.26 above the listed contract price. The bid price is -3.42 below!!! What a rip off.
More...
Is it only me or does this make sense to anyone? Somebody translate this for me.
 
farmerjohn1324 said:
I was having so much fun trading S&P futures, (I won my trade 3 times in a row. Profited about $1700.) that I decided to try oil futures.

CLV20.

Anyone can see that oil prices will be up in the future. Just no telling exactly how long that will take...

Now what I forgot to take into consideration was the bid/ask spread of this contract. Seems like I'm starting out $23,940 in the hole!!! I'm just hoping I break even before I'm forced to sell for a huge loss.

The ask price is 0.26 above the listed contract price. The bid price is -3.42 below!!! What a rip off.
More...

Didn't we just go through this discussion in another thread, where I gave a "NO", the angel on the other shoulder thing? The $5kish margin, which they just raised today, by the way, by like another 500 bux per contract??
 
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