Yea, this has been terrifying my mind all weekend... I knew for weeks that this day would come eventually, and so i did try to start preparing inadvance by changing my trading style to learn to trade accordingly, but in my mind my brain is CONSTANTLY always worrying about something... Lol And so im just worried that i didnt start preparing soon enough, and so will still be too out-of-touch with how different oil trading is now going to be for the nex few weeks atleast if not quite easily months!! My current stratergy is now going to have to have to be that i will just stick to what ive now specialised and become very skilled at, ''selling oil off daily peaks and spike''. While i know that i wont have the safety net that we have had for the last few months of being able to have every single trade go into a profit as guarantee, I am instead going to try to just consistently stabalise at 150ticks per day, each day profit. I will trade at £2 per tick though, so even if i can now just get 150 ticks per day, which will be less than half what ive been averaging recently, i will still average £1,500 per week, so £6,000 per month all tax free which will be an EXTREMELY INCREDIBLY HIGH income!! (But yet it is really very do-able, as long as i just get up by 6.52am each day, follow what that book told me about patience/greed, and just sell off opportunities that i see from 7am -7.30pm). Ive even broken it down further to calculate that if i break that 150ticks down into 6 trades, paying 12ticks per trade, all i need to do is make a total of 37ticks per trade (6ticks either side already included) and ive done it. And so if i have from 7.30 - 10.30, 12 - 4.30, and then 5.30 - 7.30, of the times that oil actually moves, I still have 8 n half hours to just tap in on 6 min down trend of just 37cents each. (Or even better 2-3 62cents trends!) And am going to use a 248ticks stoploss max per trade now, as the very ultimate loss i could take in 1day is £449!! And if i get my sell in from what i think if a 'good opportunity', and yet it still goes more than 224 against me, then i will know taht i have got the trend wrong. How are you going to change your style of trading and stratergy to be able to keep traidng in how the oil market will be now though jakker??
I use a spreadbetting firm not broker, so i pay higher commission fees than everyone else, but its all tax exempt..
I would so so much love to be able to get a buy in now around the low 80 level, stoploss 78.26, and target 86.19!! Sadly i will have to wait till 7am before i can trade, and i have dentist at 9.15, and so not sure if i will feel safe enough getting a trade in and then going out for the day... Il have to see how near we are to the 78 level when market opens for uk
take the day (or morning ) off...when you return there may be a great set up... it wil be less stressful... and........it is the PROPER thing to do.
Im gna take the whole day off. (Unless oil goes under $80 between 7am and 9am) As i have a feeling we are gna see il rising up during the day, peak in afternoon, fall slihtly in evening, but then tuesday will be another up day.
K i wokeup slightly late at just paste 8am, got uset that id missed buying oil, but didnt jump in and buy from mid 81s, instead put buy order to buy when oil at 80.84 (was at 81.39 at time), got filled £2 tick just before i went denist when oil dipped, and now in £96 profit and rising... Ive put my stoploss at 79.56. My target level has been set for 86.07, although il look at 82.66.
K i dumped that trade at 81.52 and so took in £112 profit after comissions. Next trade have dropped buy order at 81.26, stoploss at 80.26, so the max loss i can now take today is down to £88. Target profit still at 86.07, so just under £1,000 profit!!