5% - 10% profit per day trading

Discussion in 'Journals' started by spanish89, Aug 14, 2008.

Thread Status:
Not open for further replies.
  1. this has held itself above that double line support all day though, but struugled to break far out above where it crosses the uper line channels..

    so would have been a tough trading day either way
     
    #5841     Mar 26, 2009
  2. wjats teh normal bid/ask quantity size and difference??

    cos its been doing 50/60 :: 1/2
     
    #5842     Mar 26, 2009
  3. made 570 today within the first 30 minutes of trading, and never put in another trade. it's been really hard to trade ever since the fed rate decision imo. it's spiking up or down at the open, then just sitting there for the rest of the day. i remember in school a few years back that markets are "efficient"; all relevant information is always priced in. which i believed right up until i started trading. from what i gather, analysts agree oil is overpriced. and when everyone agrees to something it's usually smarter to trade the opposite of that. how is that "efficient"!
     
    #5843     Mar 26, 2009
  4. short 54.25
    stop 54.60

    going to try to hold this until tomorrow and not cash in. i want to catch the down move if/when it happens.
     
    #5844     Mar 26, 2009
  5. took 28 pts here... tried my best, but could not take my mind off closing this trade.
     
    #5845     Mar 26, 2009
  6. Ive been trying out that market deth thing and its great,
    since if you had jst the 2ticks spread that brokers offer for oil you could slaughter the market by just front running with the bids/asks sizes.. :)

    Plus its also very interesting to see the way the big boys play by keeping putting in fake orders and then cancelling them seconds before they get hit. lol :p


    The market hasnt done anything unexpected today though, but moved and fitted perfectly between the lines like normal.. :)
     
    #5846     Mar 27, 2009
  7. Crude Drops $1; Rises Questioned, Dollar Weighs
    By Nick Heath
    Of DOW JONES NEWSWIRES


    LONDON -- Crude oil futures fell by more than $1 Friday as investors opted to take profits ahead of the weekend, spurred by concerns the recent increase in price has outrun fundamental justification.

    While sentiment has brightened following a series of financial stimulus packages and recent, better-than-expected U.S. macroeconomic readings, analysts said still-depressed crude demand and U.S. oil inventories at near-16 year highs make it difficult to support the extent of the recent advance in near-term oil prices.

    "There are many signs in the U.S. that demand erosion has slowed right down now, and maybe down the road we can see better days ahead. But on the crude front, we've got to work these inventories off," said Jim Rintoul, analyst at London-based trade advisory TheOilTrader.com. "We're up too much too quickly. We really need to see whether fundamentals at the front catch up with the crude picture because they're a little bit behind at the moment."

    At 1152 GMT, the front-month May Brent contract on London's ICE futures exchange was down $1.17 at $52.29 a barrel.

    The front-month May light, sweet, crude contract on the New York Mercantile Exchange was trading $1.34 lower at $53.00 a barrel.

    The ICE's gasoil contract for April delivery was down $3.00 at $460.25 a metric ton, while Nymex gasoline for April delivery was down 351 points at 149.60 cents a gallon.

    Wider financial markets also helped shape crude prices Friday, with a sharp upwards move in the U.S. dollar against most major currencies helping crude fall back. Crude has recently become popular again with investors seeking a source of insulation against a weaker dollar.

    European equity markets, meanwhile, paused after recent strong gains.

    "WTI is facing strong resistance at $55 a barrel and without any significant oil fundamental elements to justify that break, it needs the support of stronger equities and a weaker dollar," said Olivier Jakob, managing director of Swiss consultancy Petromatrix. "It might have the first but it is starting to lose the latter."

    While an inventory overhang and flattened consumption remain fundamental headwinds to crude price gains, analysts suggest the 4.2 million barrels a day of announced Organization of Petroleum Exporting Countries output cuts -- as well as a possibility the worst of the global economic malaise may be over -- could set the foundations for stronger prices later in the year.

    "OPEC cuts and involuntary non-OPEC production weakness have done enough to counteract the steep fall in demand," analysts at Barclays Capital said. "As the year progresses, we envisage a further tightening in oil market balances, particularly as the lags work their way through the system."
     
    #5847     Mar 27, 2009
  8. well that was quite the drop!
     
    #5848     Mar 27, 2009
  9. Covering this here for about 100 pips
     
    #5849     Mar 27, 2009
  10. aloha,


    ny opening soon.

    happy trading to all!

    let's make some $$$$:D
     
    #5850     Mar 27, 2009
Thread Status:
Not open for further replies.