In the chart see the pattern for last 3 sessions over night asian session and morning session PUMP the price US regular Trading session DUMP the price Reason being US over night session is day for Libya , so there are events related to Uprising and thin volume so PUMP price. - Day session: many big funds wanted sell at these Higher prices so is the price DROP . I
I agree with you on the overnight pumps but I feel that it's becoming risky as we've had the overnight pumps establish the head and shoulder, now we have a confirmed bearish pattern, I could easily be completely wrong we could easily have an overnight pump, at one point I went long at 96.90 but I closed out the trade and went back to being short as I don't want to miss riding the wave down.
Answer to me why a good trader can not average 100 ticks a day in CL , notice the KEYWORD, average. Market conditions matter. Peak performance is never a goal for traders, there never is and never will be peak performance. Sizing up and thinking that is the answer is a myth, sizing up from poor performance only leads to what? Truth be known, it would be harder to average 20 cents a day than it would be to average 100. WHY? The answer is easy, the trader seeking only 20 cents a day would be a scared trader, no one wins trading scared. Say you get 20 and quit as you say. That is a plan? Joking right? There is no trader than can plan on only 20 because that in fact is an admission of self defeat, it is saying to self "i can by luck only get 20 and call it good". Are you sure you can be lucky every day? The trader that sets out to have a goal of 100 cents a day as an average has a well thought out plan of attack, period. Lets say you do get a string of 20 ticks a day, say a week or even 2 weeks, is that going to give you the moxie to size up? Any trader, even non super duper traders can size up, thats easy. just click the mouse. The real question to ask yourself is: DUHH, if i can get 20 why can't i just get 40? The answer is you cant get 40 because in your mind you know you are trading on osmosis only and only going for 20 means you will never recover from the days you "WILL" lose 60 trying to recover to get that snake eyed 20. OK< done, no rebuttals, i have work to do. have fun folks. Sidenote: CL is not main squeeze, ES still holds the fort down , she has been acting right again, once QE@ is past the FED hopefully will be out and we can get back to regular stock index swings intraday. The Lion is waking up..... http://www.youtube.com/watch?v=3Tp7YJUpKFg&feature=related
A crazy day coming up.... http://www.dailyfx.com/real_time_news Daily FX real time news feed has just tweeted (unconfirmed) rumours of violent protests in Saudi Arabia :eek:
Not a surprise.... My post from: "02-25-11 09:32 PM I think it may touch $115-125 if unrest in Saudia Arabia will developed (Started some today already)"
hog lines speaks volumes about the CRUDE reality of oil trading , great post @HOG ...... That does not mean 100 ticks/day is easy , but in the long run on consistent basis 20 ticks/day is lot harder than 100 ticks/day for the reasons mentioned in the detailed post <<<<< Truth be known, it would be harder to average 20 cents a day than it would be to average 100. WHY? The answer is easy, the trader seeking only 20 cents a day would be a scared trader, no one wins trading scared. Say you get 20 and quit as you say. That is a plan? Joking right? There is no trader than can plan on only 20 because that in fact is an admission of self defeat, it is saying to self "i can by luck only get 20 and call it good". Are you sure you can be lucky every day? The trader that sets out to have a goal of 100 cents a day as an average has a well thought out plan of attack, period. if i can get 20 why can't i just get 40? The answer is you cant get 40 because in your mind you know you are trading on osmosis only and only going for 20 means you will never recover from the days you "WILL" lose 60 trying to recover to get that snake eyed 20. >>>>>