nice exit IV, got it on the dot. i set a price and went to lunch, came back and was already out. got out too soon.
Hows everyone been doing this week trading this little range?? Ive still got my buy orders at 45.86 and then 43.86, but theres no volatility at all and so its been in this 3dollar range all week... Anyone else been scalping the range though??
dollar gained EURUSD 1.334 to 1.326 after Fed announcement , so oil gave up 30 cents - many analysts are saying these days oil listen more to dollar than equity market ( comparatively )
do a 1 minute chart between oil and EURUSD it is clear what mentioned below ( from 14:15 pm Fed announcement .. )
well it happens some times , you got it many times with the limit sells one way it is advantage you get some profit . with too big limit can caused lost oopertunity, here is my example today , I am LONG at 50.80 and I put SELL at 51.09 and went out on important work for 15 minutes . What happened it touched 50.98 then traced back to 50.40 stated 1 hour . so I have wait all the way to come back to 50.80. In this wait I lost 10k opportunity as I can not buy at 50.40 as all capital is tied. say If I had 50.95 as small limit sell , I would not have been in this wait and used the low 50.40 opportunity to BUY ...
well my case below is for NOT using STOPS, i use stops some times , but with crude the way MMs play the game , I do not put STOPS many times as there is lot of pull push by these MMs
Analyst estimate vs. EIA released numbers U.S. Oil Inventories: For week ended April 24. Crude Gasoline Distillates Refinery Use EIA data: +4.1 -4.7 +1.8 -0.7 Forecast: +2.2 -0.2 +0.7 +0.1
i hope this is true. i have a few charts to compare crude, euro/usd is one of them. lately, crude oil doesn't seem to be correlated much with any market besides RB/HO, and that's making it a little more difficult to trade for me. and about stops, i think everyone has their own philosophy about them. for me, there's a time and place for stops. for instance, if we're touching a major top/bottom or trend, placing a stop beyond that point in a trade would be one way to get high risk/reward. of course these are obvious to MMs and many times they move the markets enough to eat these stops.