Time to short Oil

Quote from AMT4SWA:

Sure I will sell it again if we get any moves back above the $110 level.

I am currently looking at two other longer term trade set ups in other markets, and I will be shifting my focus to other instruments/markets going forward (while keeping an eye on oil with any flattening out of the macro demand picture).
More...


My current stratergy is going to have to have to be that i will just stick to what ive now specialised and become very skilled at, ''selling oil off daily peaks and spike''.


While i know that i wont have the safety net that we have had for the last few months of being able to have every single trade go into a profit as guarantee,
i am instead going to try to just consistently stabalise at 150ticks per day, each day profit.

I will trade at £2 per tick though, so even if i can now just get 150 ticks per day, which will be less than half what ive been averaging recently, i will still average £1,500 per week, so £6,000 per month all tax free which will be an EXTREMELY INCREDIBLY HIGH income!!
But yet it is really very do-able, as long as i just get up by 6.52am each day, follow what that book told me about patience/greed, and just sell off opportunities that i see from 7am -7.30pm. :)

Ive even broken it down further to calculate that if i break that 150ticks down into 6 trades, paying 12ticks per trade,
all i need to do is make a total of 37ticks per trade (6ticks either side already included) and ive done it. :)




Can i ask what are the 2 markets you are looking at though AMT?? ;)
 
I will post about the markets once I have all my analysis done....once I am ready to "get in" I will post my entries like I usually do.
 
Quote from AMT4SWA:

I will post about the markets once I have all my analysis done....once I am ready to "get in" I will post my entries like I usually do.
More...


K, and thankyou alot for providing the confidence wit the oil selling btw... :)


I will too post my enteries too incase you fancy sharing mine also... :p :D LOL
 
Spanish..... See how oil has now traded in the zone of $85 to $77 as I had mentioned before (my final main profit target zone). We have traded down to the $77 area and then back up to the $85 area. Oil will most likely trade out of this zone soon and then build up some short term momentum....so keep your eye on this zone for which side we breakout.

Also, the last 10% of my QM SHORT trade I was able to roll over to the Dec contract with about $.37 of price improvement. I am no longer holding any Nov QM SHORT positions.
 
Quote from AMT4SWA:

Spanish..... See how oil has now traded in the zone of $85 to $77 as I had mentioned before (my final main profit target zone). We have traded down to the $77 area and then back up to the $85 area. Oil will most likely trade out of this zone soon and then build up some short term momentum....so keep your eye on this zone for which side we breakout.
More...


Aloha mate.. :)

Because the market now wont give us any clear boundaries that we can trend trade off, i dcided to create my own!! :)


From now on oil's base is 69-76 so BUY, 96 - 102 is too high so SELL.


So i can now just trade off those 2 levels in those directions, buy day trading off the day highs and lows mainly.
 
The current bust through the bottom of the $85 to $77 zone gives us a new drop today as we are currently trading in the $74 range.

I will be looking to cover a small portion of my remaining SHORT position at the $72.75 level if we trade there for the Dec QM contract.
 
Quote from AMT4SWA:

The current bust through the bottom of the $85 to $77 zone gives us a new drop today as we are currently trading in the $74 range.

I will be looking to cover a small portion of my remaining SHORT position at the $72.75 level if we trade there for the Dec QM contract.
More...


ALoha mate, what other markets you currently position trading on?? :)


And what you think of my current 'looking out for' trade scenario;

''The next trade im looking for is if the Chinese can lower oil down to the 73.39 - 66 area because of Opec cutting demmand AGAIN, i feel we could see some very strong support from there.

This will either be added to if we get under supply on inventories..,
or if we get under supply and oil dips down to that area or even lower, but then pullback and starts bulding support off the 73 level.


Oil fell today merely because dow fell so much / opec forecast, howevr we all knew the dow was gna fall down today as it had rise almsot 1,500 points straight in 2days, so it was obvious the smart people who had gone long friday night.monday morning all would have been cashing in yesterday afternoon - evening.

And Opec cutting demmand forecast is a double-sided sword, as yes it means we got short term fall in oil as opec say 'no so much oil will be needed', but then after the shock impact of that gets taken in theres going to then be the fact that since no so much oil will be needed, that same opepc will be delivering even less oil onto the market though to match that demmand.''
 
Oil will keep dropping until someone can properly set the perception/reality that demand destruction can be currently quantified.....that is not happening yet, just all SPECULATION. :)

I am currently in a few currency trades and some etf's, and what is left of my QM trade (positions that I hold overnight)....the rest is all intraday action in the ES, QM, currencies.
 
Quote from mr888:

AMT how do you apply MP to longer term positions or even daily positions?
More...
You can go back almost 2 months with Inv RT for charting MP levels............

http://www.linnsoft.com/futures/tpo/index.htm.

I pay attention to significant MP levels to see how price REACTS when at those levels. I also take notes daily on volume clusters at various price levels where cumulative delta divergences take place. Mainly the CD divergences that end up holding and reversing price for the main instruments I trade.....these levels are a key to finding optimal trade set ups for the methods I use. The QM, CL, ES have had very significant cumulative delta divergences in these past months as the volatility has skyrocketed........this has made finding optimal trade entries somewhat easier in all the movement lately.

Knowing solid Auction Market Theory has also been of exceptional benefit with our current market environment.....it has helped to watch and properly react to price moving out of significant S/R zones.
 
You must log in or register to reply here.
Back
Top