LOL Im still gna keep my same style of trading as normal, as its clear that as long as you do the whole package it does work consistently. However im just going to focus more on not being in a trade all of time, and instead focusing on trying to be patient, waiting for peaks and spikes during the day, and then getting my sells in there. I know that i 'may' make less money doing that then if im in trades 90%+ of the time, but at the same time i may make alot more, as hopefully i will be able to make all the money as extra that i see as 'open loss' when im in some trades, plus the money that i will earn from when market goes down past where i would have entered and down to my target level. And i will also have alot less exposure to getting caught out by big market siwngs if opec / other news comes out and market reacts in seconds. And MOST IMPORTANTLY it will help me get a head start in the coming future transition period when all this ridiculously easy money that we have had for the last 1 year finally does come to an end, oil will no longer trend in 1 direction for weeks even let alone months, and so the people who have gotten so used to only being able to trade in this clear trend market will have ALOt of problems when it becomes a day-ranging market. So thats why im now trying to start my focusing on 'just selling of the day spikes'. Since theres no point getting used to the lifestyle of a few £1,000 per week or even per month, when that will only last for a few more weeks, and then itl take a whole new learning and approach to keep making anywhere clsoe to that.
Oil down nearly $5s in the overnight trading so far at just above $81!!! So i guess i can have a little lie in till about 8am, as itd just be gambling to get any trades in until we get some decent bounce. Its not looking good at all though, as ftse is barely holding by a few points off falling into the 3900s, dow also down over 200points more in overnight, and the dollar is getting stronger. I just hope we will get enough bargain hunters and oil buyers coming in to give us some decent bounce now that can be sold off. How the rest of you gna trade form the open and for today though in terms of enteries??
K done some research and oils falling so hard because the Chinese Nikkei market has crashed over 10% so far since the open!! :eek: So this is doubling up on oil since the chinese see their won market crashing, so they sell down oil. And when UK/USA wakeupp and see whats now hit China, they see numerical proof that China economy, 1 the biggeest oil buyers, has crashed hard HARD fking harder than USA even, and so oil demmand now really does get hit BAD!!! I wanted to try getting a sell in at $85-$88 area, that doesnt look like itl be possible tomorrow, although there is hope for on monday after the dust settles over weekend, and after the crash week buyers come in to bargain hunt + G7 meeting tomorrow afternoon/evening. Tomorrow im gna slam oil HARD as soon as it opens in UK though cos whats happened in China, but will try dropping that and cashng in at a support level, and then waiting out for a V to form before more selling. As this $5 further crash may be pricing it in alot already.
Im really not liking this lack of movement in oil at all now.. :eek: :eek: We had the worst crash ever in % for most the indicies in asia and europe lastnight, yet oils now been open nearly 2hours and we a 40cents range!!!!????!!! :eek: :eek: :eek: I got my £2 sell in from 82.68, target is 79.80, but not sure if we are actualy gna be able to get anymore fal in oil before a bounce, as the overnight looks to have priced it all.
Nikkei? Chinese? Won?! China and Japan are not the same place mate! What is the won market?! Loving your journal by the way!
LOL It wasn't 'obvious', that it was gna fall lastnight, as itd held strongly most the day above 86, dipped down near the end, but looked like it could very likely pullback overnight as buyers could come have in to buy off support / dollar weakened yesterday. And i am stll forcing myself to stick to £2tick, unless its inventory number or a bailout that its too easy to miss and so guaranteed. I just wokeup again now, as i didnt sleep all night as was researching and watching different markets, my £2 sell from 82.68 i had initially put target level at 79.86, but chnaged that to 80.16 then to be safe cos oil looked like it was holding extremelt errily strong and silent all morning which was seriously creeping the fuk outta me. Cos when oil is silent and no movement on a day like today something is going on. I wokeup a few times sicne going bed at 9am t now 2.30pm, checked the market but didnt liek anything i saw, wokeup just now with 4text alerts on my phone from IG index (id set those alerts, not just randon texts) lol...... Alrts: crude oil fell below 81.25, fell below 80.40, fell below 80.16!! So got up, checked my traidng platform, oil crashed down, 1st strongish support was just under my cash in level so perfect, it dipped down for a few econds, but then back up instantly. And my sb firm is so nice they even gave me the cash out at 80.15, when i had put in for .16.. LOL So thats an extremely safely conservatively earnt £502 for today. And brings the current weekly profit to £3,182!!!! (1,586 ticks). The October contract since sept 2nd to £5,002!!! (1,816 ticks)
lol Whooops Wasnt sure about what counrty has which of those asian indiecies. Well they all crashed and so thats the main thing. And i mean 'own'. lol Im glad you like the journal though mate.. You gna follow jakker n start trading spanish style?? Or have you already.. lol