Nope, i was just unlucky enough to get my trades in a few minuts too early before those further irrational spikes.. lol Im still very happy with those trades though.
Im only at £1 tick on the 2 trades, since i already withdrew £3,300 from my account lastnight to pay for my new apartment rent. But so now i can sit back and relax, since all i now need is for; oil to fall below 120.21 'before' it goes back above 130, and i could break even. But im still thinking we will see lower than 119 soon.
Pretty foolish statement that... LOL Because if you go by that as your trading motto, when oil inventories come out with over supply, the obvious thing to do is sell.., which all the traders do every wedensday afternoon if we get on over supply... But if you follow your motto you should be the 1 who would buy!
Look at it this way... If you did the obvious (sold after inventories) yesterday morning you would have made $1.5 - $2.0 tops (assuming you covered at the lows). If you instead bought after the "obvious" drop and held through today you would have made 8+. Of course, if you held on since yesterday's "obvious" short, you are hurting pretty good right now.
It really depends on your time frame. I sold at the number. Covered immediately thereafter. Just like any technical analysis and numbers over any time frame can be skewed to fit almost anything. In retrospect, with todays action bad call. At the number it looks like he is right. Goldman sure doesn't feel the same. It really depends on time frame of the trade though. If you enjoy holding three point wiggles in Crude more power to ya.
Hi Spanish, The market can remain "completely and totally irrational" longer than you can remain solvent. I'm glad, though, that you're not trading the big contract, but a fraction of it through a bucketshop. I normally end my posts with "best trading", but in this case, I think that "best luck" would be more appropriate (no offense). Jorge