Youngtrader's Commodity Journal

Quote from Blubaru_555:

Thanks man. I may take on one of these, heating oil's price went up a bit from the snow storms that hit the north recently, but they're settling back down now it seems. Happy trading man, ill be reading.
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No prob

Wish I could be of a little more help but I will try to squeeze some info out of my old man tonight about that spread.

Just noticed your journal. Havn't had a chance to read it yet but will deffinantly look through it. There is something to be said about someone who just comes to et and starts a journal right away. It shows your not full of BS imo.

Good Trading Man
 
"Im holding my 10 shorts @ 1359).".......... according to your p/l statement you are short those at 72 and they already took the money off your acct total,if you want to sell them at that price then keep em, 38fib line was 1365, 50%fibline is 1396, my next res line is 1379-80, you may be right tho, if we open up at 75 i wont try to short til 80
 
Quote from ammo:

Im holding my 10 shorts @ 1359) according to your p/l statement you are short those at 72 and they already took the money off your acct total,if you want to sell them at that price then keep em, 38fib line was 1365, 50%fibline is 1396, my next res line is 1379-80, you may be right tho, if we open up at 75 i wont try to short til 80
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1400 is just a hop, a skip and a jump away.

If you can hold and scale AND it fits your risk profile, feel free to do so ... otherwise you're deep in the hole and holding at a current (paper) loss.

You're a good trader ... but I think you need to take a good look at your risk parameters before you get overleveraged on your next trade.

GL
 
Thanks guys for the advice.

Ammo I am currently short 10 contracts at an average of 1359.

Feel free to keep posting any info or advice on this thread as it is quite helpful.

Hopefully a pullback in es is in order here :D
 
Check out a 300 tick chart on es. Major channel on that chart! A break below 1370 sets us up for 1358, a break below that level and we hit 1350 and then 1345.

I honestly think it could happen as 1375 is proving to be nice resistance and has proven to be good resistance on more than one occasion.

Just my thoughts
 
YT, that post was supposed to be a quote of yours and my response,anyway fwiw, i think we rally today and reverse or reverse tommorrow,1380 or 1400 top,
 
I have to talk about the es even though I don't want to lol! I'm out of the fucking thing at 1370. $5500 loss on the damn thing!

I will look and wait for another opportunity to get short because I still think we test around 1320 before all is said and done.
 
Quote from youngtrader:

I have to talk about the es even though I don't want to lol! I'm out of the fucking thing at 1370. $5500 loss on the damn thing!

I will look and wait for another opportunity to get short because I still think we test around 1320 before all is said and done.
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Sorry about your loss man. It's all good though, tomorrow is a new day.
 
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