Im abit disappointed that i didint stay in my sell from 84.57 for below 84, as it would have been an extremely easy £750 extra profit as i would have held to the 80.68 support area. But i atleast earnt lots on the way up, and im now more concerned about finding out what the market is going define its bottom and celing at now. i dont se eus breaking 76.39 tomorrow, and so i going to look to mainly buy any good opportunties tomorrow.
Account is at 9k! Shorted oil for a nice overnight drop for 100 pips or so at £4 per point £10k target still possible!!
£9490 now !!! Been shorting the arse off it today! Feel very confident in hitting my target b4 the weekend now!
Well done mate.. I took the day off today, as wnat to see what the inventory number tomorow does and what direction it goes.
You should record youself trading the inv. number spanish. I am yet to trade one. Would be good to see ho w a news pro like yourself does! Haven't traded since this morning myself. Need a good thur/fi to hit my 10k
You havent traded the inventory number for the last 2weeks?? :eek: :eek: And i wouldnt call myself a 'news pro'... lol For the last few months as oil was crashing down we all knew to only sell, so it wa sjust a case of waiting for the number, seeing the markets reaction, and then either selling if market crashed, or waitng and taking the top of the spike if market rallied of the number. This week is going to be crucial though, cos i need to se ehow the market reacts to an over supply / under supply now.
Spanish I have been holding back to a certain extent, because of uncertainty. I trade US equities - never traded oil. I have not followed your stratgies in detail but I think you have surprised myself and others on T2W with your success. I think this is because: (a) you are focussing on one instrument - oil (b) you are watching it's behaviour and analysing it for most of each day (c) you have recently taken steps to work on your emotions to reduce their effect on your trading success (d) you seem to be taking a more considered approach to risk and to avoid some earlier mistakes that virtually blew your account I think if you can continue to work on these areas you will do well. Hitting a £1000 target (or thereabouts) each week is good going for a 19 year old starting from such a small capital base. If you can build up your capital base to increase your trading size with similar success rates you could do very well. However you will need to consider very carefully how to protect this capital and reduce risk to a minimum. Anyway it will be fascinating following the thread up to your next birthday Charlton
Thanks mate.. The next trade im looking for is if the Chinese can lower oil down to the 73.39 - 66 area because of Opec cutting demmand AGAIN, i feel we could see some very strong support from there. This will either be added to if we get under supply on inventories.., or if we get under supply and oil dips down to that area or even lower, but then pullback and starts bulding support off the 73 level. Oil fell today merely because dow fell so much / opec forecast, howevr we all knew the dow was gna fall down today as it had rise almsot 1,500 points straight in 2days, so it was obvious the smart people who had gone long friday night.monday morning all would have been cashing in yesterday afternoon - evening. And Opec cutting demmand forecast is a double-sided sword, as yes it means we got short term fall in oil as opec say 'no so much oil will be needed', but then after the shock impact of that gets taken in theres going to then be the fact that since no so much oil will be needed, that same opepc will be delivering even less oil onto the market though to match that demmand. What levels are you looking for black jakker?? And you ever come here still candles??