yes, JUNE is better to trade than MAY as MAY has all big commercial ( oil distributors, oil companies ) trading these last 2 to 3 days based on the physical products . I forgot this and myself traded MAY . MAY lost difference of 20 cents with JUNE that is real 20 ticks loss for all of us , we should have traded JUNE
yeah i noticed the discrepancy between the peaks. something definitely useful to know in the future. i'm still really in the learning process here, but the market has a way of stressing me out even though i know it's all part of trading. made decent profits this week, about 100% of it on monday and tuesday. these last 3 days have been basically breakeven. sigh, i hope we break out of this range on monday.
NEW YORK -- Crude oil futures prices settled modestly higher Friday, capping a rangebound week that kept prices near $50 a barrel amid brimming stockpiles. May-delivery light, sweet crude oil on the New York Mercantile Exchange settled at $50.33 a barrel, up 35 cents. That's the highest settlement since April 9, but prices haven't really shaken out of a recent range that centers crude on either side of $50.50 a barrel. Oil prices gained some support from signs of a blossoming recovery in oil demand in China, the second-biggest oil consumer after the U.S. Chinese refiners boosted crude oil processing by 8.8% in March from average levels in January and February. Analysts estimated April processing rates are up about 5% from March but could drop again in May on planned maintenance. China had been the driving force behind the rise in global oil demand in recent years, but the U.S. Energy Information Administration estimates demand dropped 2.5% in the first quarter and will register the smallest demand this year since 1990. The whiff of improved demand from China and worries over lost crude oil exports from Nigeria, where civil unrest has disrupted supplies, is countered by brimming oil inventories, especially in the U.S., where crude stocks are at the highest level since September 1990. Lawrence Eagles, commodity research head at J.P. Morgan, said "the cracks in the bullish argument are growing" as the short-term market is oversupplied and facing poor economic data and weak oil demand.
Aloha guys, soz i left so abruptly.., Its just my entire life and career all justed changed so fast. :eek: Ive been doing it 2weeks now though, although still doing my 1months training (exam is 5th-8th may) and i get my license then and start getting paid from then.. Ive signed all the paperwork and confidentiality clauses and insurance stuff, and im gna be starting on a basic salary of £26,500 per year (is rougly 46,000dollars per year) if i do 5days per week, and could add a few thousand more though if i work overtime. +i get all the power bonuses that come with the career. Its very intense stuff though, since i work for whats called the Public-Security-Service, which is a local government department not metropolitan police, but we work alongside them as our control centres are in the same building, and all share the same radio line along with town-link. We have the same powers as police in that we can make arrests n have warrant badges, but we specialise in surveilance and so can do things like basically stalk people anywhere for as long as we want without having to answer to anyone about what we are doing and why we doing it, but we arent legally allowed to search anyone though, and cant enter peoples houses. Im still just so amazed at how lucky i was to manage to get this job through this training route, as i basically fast-tracked what should have taken 10years of normal police service 1st! Its just because of the school link i had with the boss's daughter that made him give me the interview and take me on over all the other internal applicants. Its very tiring intense stuff (and im barley doing anything yet), but its way wayy more fun than trading as i so much love the social aspepcts of being able to wear a flashy suit to a fancy building everyday, have loads of power, do a job in the industyr that id always planned to work in since i was 8years old, and have colleages. +Never ever ever have to worry about money as i have an extremely nice basic salary that i get transferred into my bank every month automatcially, so my days of worrying about if i can pay rent each month are just a distant memory now. But back to trading.............. I will be restarting trading for a fun guaranteed easy 2nd income in about 2months. I have to be at work by 7am each day, so leave my flat for bus at 6.27am, so cant put trades in before as platform opens at 7am, and leave work at 6.45 so get home at 7.30pm when market closes, however platform lets me put in trades till 9pm during after hours. So i will be making my trades all in this style- If oil is at 45.39 at 8pm after being flat for 3days, i am going to be ONLY BUYING from now on, and so i would set a 1buy order 8-9% down at about 41, 2nd buy order down about 12-13% down at about 39, and then a 3rd 16% down at 37.... Target will be $6s-$8s each trade, and im only going to be making money, have no interest in taking any losses as i dont need the money from my trading account for anything now so i dont give a fuk if it takes 1day to hit my target, takes 1week, could even take a whole year for all i care! But i will be setting my trade buy orders after the close in the evening, will check at 6am before i go to work if anything happend and i could cancel ta order if i needed to, and could change the orders entry after close that evening if i needed to adjust them. Il be trading at roughly £6 t £8 per tick, so each trade will make me roughly £4,000. (enough to buy a luxury 1month holiday in 5start hotel) And so this will be my holiday fund, and so i wont care how long it takes till i get that target hit. (Although when im only entering buys after 10%+ intraday down moves its extremely unlikely they will foat in a loss for long) Ive been checking out this thread in the evenings though and you guys are all doing great... P.S Im gna do 1weeks of working nights per month/3weeks of days, and so il be on here during the afternoon on those days. Goodluck for next week guys
Good stuff spanish! We've gotta do what we enjoy in life. Its good that you enjoy the socialising side of work etc. Personally, i got bored of it after a few years and much prefer just waking up as late as I want and earning my money and then going to the pub! lol. Who knows tho....maybe one day that will get boring aswell! I must admit im making alot more money than I thought i would and have only had about 6 losing days since I started. Did you get the training for free? I remember you said that they wanted some money for it? Anyway, good luck mate. Glad you got what you wanted.
lol Nah i calculate at the average exchange rate for over the last few years when it was around the 2.000 level. Since while we have this blip currently in the rate caused by all the stuff that happened since last summer, the average rate of pounds t dollars has been around 1.9000 I get paid in gbp for this job though so thats all that matters to me. How was this week for everyone though?? cos i have been reaidng every evening, but it seems kinda mixed. (I have to admit i have been secretly smirking at everyone though when i see you all getting woundup about oil doing something or it not doing something, and all the other factors that you cant control. Since it brought back alot of memories for me of what i have been used to all day everyday for the last 1year of my life.)
Sorry to see you give up on trading full time. Most wannabe pro traders give up within 12 months, so you lasted longer than most.. Atleast you tried. Failing at trading is nothing to be ashamed of. Most people dont have the balls to even try it. Do you think you will give full time trading another go in the future?
Aloha mate, for me its the opposite. lol I started my working life at 16 being self employed, and have been self-employed all my life since then only, instead of starting working in a normal job and then going self employed like most ppl do. So the waking up and wokring whatever hours i want and getting all i earn n doing things my own way side..., it is ok to do, but working alone does get extremely boring after a few years though. :/ The that made me decide to change my career from trading to the police was a phrase i heard on TV 2weeks ago that was- ''Lifes not about the destination, its about the journey''. And that really really got to me. Since id spent the last year making so much money daily and always planning what id do with it all next month, next year, in a few years time... But whats the point in being able to buy a load of luxury toys, to just then have them and eventually get bored of them too and still feel lonely. Instead of just earning a normal very nice salary each month, having normal stuff, but enjoying everyday and being able to spend it doing fun exciting stuff with other people. I experienced earning £1,000+ per day, and while its not 'bad', it does make you feel very smug and happy that day, that wears off after a few days and just gets boring again. Sort of like if you had weekend for 5days per week and work days only 2, weekends would become very very dull. And all the stuff with the training money has been sorted. It was just because normally they only advertise this job internally and only hire ex-police/specialist military who are already trained experienced at it, tis would be the 1st time in their 19years of operation that they were taking on a trainee directly into this department and training me on the job, so the £500 was just as an insurance deposit for them that after my 1months inital training/2months on job training, that i will stay for MINIMUM 3months more before being able to move to different department. Since they are covering the cost off all my training too, and so they just need to make sure i dont just take it all for free and then leave to work ina different department the next day. You doing really good though mate. Do you enjoy this job and lifestyle alot more than your previous one then??
LOL Well played mate... Im not sure why you are calling me a 'wannabe pro trader' though, since i NEVER EVER wanted to trade or enjoyed trading. Even during the days when i earnt thousands of pounds profit i still was saying that i still didnt actually enjoy trading. Since i didnt do it for enjoyment, i simply did it until i got a job that i wanted, as trading was what i was good at and so was the easiest way i could earn enough each month to pay all my bills and living costs.