I traded it earlier this year, but it's behavior changed to the point where my system would have exposed me to too much risk.
Took out a loan to transition to full-time trading. 24 years old.
- Thread starter wabu27
- Start date
I traded it earlier this year, but it's behavior changed to the point where my system would have exposed me to too much risk.
By the way, I would never claim to be a pro at anything regarding trading or specific markets. Far from it. CL has pulled too many tricks out of it's hat and fooled me over the few years I've been watching it. Sometimes it pulls strange counterintuitive moves out of thin air, and I suspect there are many forces up-and-down stream in the industry that drive them that we can't see.
As a small but poor example of that, did it not go wonky on the report because the EIA numbers were very close to actual? It has been stuck in a cruddy, choppy 30-tick mess for 3 hours.
Day 15
+6.62%
Solid trading again starting at 6:00pm PST. Saw the chart all pointing to downward direction but just wasn't going down so finally exited all my positions. Soon afterwards, monster drop to the downside. I saw a drop happening to 48.80, as mentioned in my video today, but didn't expect such a huge drop so early in the day; I was picturing constant drops throughout the day. If you guys didn't follow CL today, check out the chart. Fun, resistance play. Something to take into consideration for next time. Little disappointed I missed out on all the action today, but not feeling as bad as I've hit new highs this week and had a pretty good run.
+6.62%
Solid trading again starting at 6:00pm PST. Saw the chart all pointing to downward direction but just wasn't going down so finally exited all my positions. Soon afterwards, monster drop to the downside. I saw a drop happening to 48.80, as mentioned in my video today, but didn't expect such a huge drop so early in the day; I was picturing constant drops throughout the day. If you guys didn't follow CL today, check out the chart. Fun, resistance play. Something to take into consideration for next time. Little disappointed I missed out on all the action today, but not feeling as bad as I've hit new highs this week and had a pretty good run.
I am not sure what bone senses here, but your comment takes me for a loop. What "resistance play" is going on? When a market stair-steps down for the whole day, what resistance play is going on? Resistance from the previous week or month?
So the EIA report came out yesterday, about a supply increase. It was only today that the market responded in the way one would normally intuit...Increase supply, price goes down.
This is the type of behavior I am speaking of. Why did it happen today, but not yesterday?
Do not place bone on ignore. You will learn much from him, stout yeoman.
yeah if bone gets on ignore, I have no chance.
I tried resistance play when I was a younger man with a certain lady of the night, it didn't work out well. Maybe he's talking about something like that.