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booked
Registered: Jun 2011
Posts: 43 |
03-23-12 03:36 AM
So....what was the reasoning in your opinion behind the first big lot @ 105 then the second lot at 87? Because we went on down to around 104.50 then back up(not that far, especially for crude), those big buyers have a part in that?
So you would have got short after you saw that big size @ 87 pull correct? Do you ever see any weird shit going on before inventories?
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Fishing4$
Registered: Aug 2010
Posts: 3 |
03-23-12 05:25 AM
So....what was the reasoning in your opinion behind the first big lot @ 105 then the second lot at 87? Because we went on down to around 104.50 then back up(not that far, especially for crude), those big buyers have a part in that?
So you would have got short after you saw that big size @ 87 pull correct?
Looks to me like short covering at 105 and 87.
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ScalperTrader
Registered: Oct 2011
Posts: 62 |
03-23-12 06:04 AM
OK, I am going to give away a little more hint here, and it's not that I am holding back on this stuff, but the fact is that not many are still understanding what it is that we need to look for and where it is we are trying to go with this information. Just throwing some hypothetical out there and using "thinking" and "guessing" does not cut it!
The big money was short and was adding to the short. If you want to keep on shorting, what do you need? You need liquidity, you need buyers so you can sell to them, you need bids! Now, if you have a big short position and you are still accumulating, how do you "protect" your big position?
Moreover, if you have a big short position, where do you want to profitably cover it? What do you need to cover it? Liquidity on the ask! You need sellers so you can buy back your contracts and cover your short! Do you see where I am going with this?
As I said before, this is scalping by means of figuring out the intent of the market and the big money - you have to be able to read your opponent's cards!
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booked
Registered: Jun 2011
Posts: 43 |
03-24-12 07:44 AM
Quote from ScalperTrader:
The big money was short and was adding to the short. If you want to keep on shorting, what do you need? You need liquidity, you need buyers so you can sell to them, you need bids! Now, if you have a big short position and you are still accumulating, how do you "protect" your big position?
They were adding to a short 20c or so from the low on the way down??? That seems like a pretty stupid thing to do? did you see them covering their shorts at the bottom and get long as well then??? Was only a little bit further after what you posted before it made a low, ranged for a bit then went higher. I would have thought it would be short covering then it didn't go any further because the big guys were out and getting long(hence the no more downside and started ranging) then up it goes?
You really should do some video, WebEx or something, easy to do. Much simpler to explain(not that I don't understand you, I get what you are saying perfectly, just trying to fill in your gaps), plus you could actually prove yourself by trading live, rather than a post every few weeks that is full of questions to questions.
Good trading!
P.S - how did you go on last nights $3 spike?
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ScalperTrader
Registered: Oct 2011
Posts: 62 |
07-13-12 04:08 AM
I am not reviving this Journal, and it's been great trading for the past couple of months, especially now that the CL is back on my screen! Just wanted to post this as I was able to quickly take a screen shot of the largest size I have seen on 6E! Can you figure out if the "size" intended to trade at 1.2288? See the large bids at 1.2281, 82 and 83? Are we coming off the LOD? Good trading to everyone!
 huge ask!.jpg
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ScalperTrader
Registered: Oct 2011
Posts: 62 |
07-13-12 04:12 AM
Just playing around with the overnight session! 6A and CL also provide some good "insights" trading them side-by-side! Maybe will check back a little later, but the size on the ask will be traded on the way up! WHY? See you around 1.2220 levels.
overnight.jpg
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