i'm up 1800 trading 1 contract today. Going back to 1 lots right now, as I'm in profits for less than two weeks but am up over $8000. I don't wanna get cocky and blow the account again. I think there's a short opportunity coming up, but will wait for a mini-double top if one comes to be safe.
nopes I didnot got stopped out on tht trade....took around 72 ticks profit/lot sure go ahead....wht do u wanna ask? ive closed trading for the day
secondly i workin the sector (oil and gas) so there is always this conflicting thing in my head. how would you normally address resolving this issue.
Gs is releasing results tomorrow.........they will definitly come out better than expected (courtesy AIG) i expect a test and a breakout of 875 on th S&P500, how do you think th oil mkt will react to this considering th truth we've all know but was formalised by IEA today?
what I consider differ on each and every trade and each has its own dynamics. Ill tell you the rationale behind the 49.20 Long:48.80 SL trade. Market had made a low of 48.86 therefore SL obviously had to be below it. A lot of stop hunting takes place in crude but here the pattern(I wont be sharing the specifics of the pattern but in simple words in periods of elongated consolidation after bigger than expected rallies on either side, chances of stop hunting are quite low) suggested little or no chance of stop hunting. The only thing that could have happened was either market going to 50.00(which was my target) or breaking 48.80 and going towards 46.00. As i said before, no chance of market touching 48.60 and going up.