Short .07 Stop to .04 Edit: why do I have to make everything so complicated, hahaha? Original trade would have worked if I had left stop alone, then I also had the chance to reenter at a price similar to where I was stopped out, then I pulled a stop to get long at .69... oh well and now... stopped out at .04 - no slippage now - and now it'll drop like a rock
Good Morning Surprised at the run up. Futures Movers April 6, 2011, 10:04 a.m. EDT Oil edges higher ahead of inventories data By Claudia Assis, MarketWatch SAN FRANCISCO (MarketWatch) â Crude-oil futures edged higher Wednesday, helped by a weaker dollar and firmer U.S. equities and as investors monitored developments in Libya and elsewhere in the Middle East and North Africa and await for word on U.S. inventories. Crude for May delivery (NEW:CLK11) added 14 cents, or 0.2%, to $108.50 a barrel on the New York Mercantile Exchange. A close in the black would be oilâs fourth session of gains out of five. Brent oil, the benchmark for Europe, surged past $122 a barrel as it felt more acutely the developments in Libya. âThe Libyan civil war is the single greatest issue driving crude prices at present and it is telling that (Brent) crude prices posted gains even as the Chinese central bank hiked interest rates for the fourth time since October,â analysts at JBC said in a note to clients Wednesday. Brent for May delivery settled 1% higher at $121.89 a barrel on Tuesday. Most of the light, sweet Libyan oil was exported to Europe. At last check, May Brent added 70 cents, or 0.6%, to $122.94 a barrel on ICE Futures in London. Forces opposing and supporting Col. Moammar Gadhafi continue to battle for supremacy in Libyaâs cost towns as battle fortunes -- and control of cities -- have changed hands several times in the oil-rich country. Traders also awaited for the official word on oil inventories. The Energy Information Administration is scheduled to report their weekly data 10:30 a.m. Eastern. The American Petroleum Institute late Tuesday reported a surprise decline in crude supplies. Analysts polled by Platts, however, expected the EIA data to show crude-oil inventories up by 1.3 million barrels for the week ended April 1. Gasoline stocks are seen declining by 2.1 million barrels, while stocks of distillates, which include heating oil and diesel, are expected to rise 600,000 barrels.
This is what happens when you're underfunded - aka trading like a scared little girl ---- Nice one, IV