5% - 10% profit per day trading

i'm waiting for a price above 53.00 as well. though it seems unlikely at this point.

 

3/20 EIA forecast
----------------------
Mark Shenk at Bloomberg reports that U.S. oil supplies probably climbed last week because refineries have yet to finish their seasonal maintenance programs according to the Bloomberg News survey.

- Crude-oil stockpiles are expected to increase by 1.1 million barrels in the week ended March 20 from 353.3 million the previous week, according to the median of 11 estimates by analysts before an Energy Department report this week.
- Ten of those surveyed said supplies increased and one said there was no change.


- Gasoline stockpiles probably dropped 500,000 barrels from 215.7 million the prior week, according to the survey.
- Six analysts forecast a decline and five said there was an increase.

- Supplies of distillate fuel, a category that includes heating oil and diesel, probably declined 500,000 barrels.

- Refineries probably operated at 82.1 percent of capacity, unchanged from the week before. Utilization rates unexpectedly declined last week. Refiners often shut units for maintenance in January and February as attention shifts away from heating oil and before gasoline use rises with warmer weather.


- Still weak demand may create another bearish surprise especially for gas where the retail price is starting to creep up once again

 

52.40 must be a strong support, i am seeing lots of bids at that level on IB's market depth.

 

long 52.50
stop 52.25
target 52.70+

>out at 52.70. looks like i shoulda held on though.

 

covered short @ 52.625 with $200 profit.

Don't feel like holding oil shorts anymore. It just doesn't go down as fast as it goes up

 

the housing numbers just came out better than expected and set dow off again.


but look at how oil is ignoring dow... :eek:

 

can you get that data thing for free mate??

 

I am not sure. I only use IB and don't use external data provider, so not sure about price/availability. But I am sure if you Google around you might find a free source.

 

You know what? I just came to the realization that oil has been in one of its greatest bull market in a long time and we've been wasting our time and money shorting it in the past month.

The problem is that every time I wanted to go long, it looked so ever-extended on the upside so I went short instead only to see it rally another $1-$2 per day

And my total profit for today (minus that loss) is a crummy $15

 

just took 60more pips on the ES (£120)
should probably stop for the day now, but gonna carry on but at minimum stakes, just for the practice.