I'm glad B1S2 shows the good, bad, and ugly. This is trading, you take a view of the market, make a play on it and see what happens. Sometimes you're right, sometimes you're wrong it's the way it works. Beware of the people who claim or show only success, it simply doesn't work that way.
I notice you systematically respond to to quite a few of B1S2's replies, minutes after. I would beware the people who take multiple stops of over 3 dollars in oil, several times over, and claim they aren't paper trading.
As most folks know, I am primarily a position trader and so a 3 dollar stop is relatively small. In fact, I indicated in this thread that my stop was likely too close to the noise and it was. But I never move stops away from the trade for discipline reasons. It actually gives me a chance to reevaluate. ---Looking Long again here.
To quote one of my favorite congressmen ... a 3.5 point stop here, a 3.5 point stop there ... pretty soon you're talking about real money.
%% Good points JSS,+ Buy1Sell2; or at the very least label it a daytrade, especially since it was started as a swing -position journal.That way, if its a daytrade ;we will not think you are risking $3 to make $8,[ a logical position sometimes, sometimes not ]as derivatives guy warned LOL. MODERN TRADER magazine June issue, had a lot of charts, articles on TX Tea ; i like their charts , even though i did not think thier ''cup with handle buy@ $53/ JUNE ''+would be a good time to risk $3 to make $8 . But i did not want to make a prediction on that.LOL
I'd be interested in positional longs around or below $30 atm. I feel like U.S. production is going to drive price into the ground again. Maybe it'll never get there, but oil at these levels isn't very compelling to me.