some after the fact analysis ---------------------------------- below Reuters news bulleten has almost similar items as last friday including ' Isreal fire rockets into gaza' , syrian killings etc.. - last friday I thought this was the perfect strom for OIL price with all Middle east issues including newly added Isreal/Gaza firings - I thought for OIL bulls , this can not get any better - hey today is friday , we got all those issues ( including Isreal ) and additional ones -- US budget deadlock ( hence weak dollar ) and -- ' NATO officially declaring Rebels can not Take on gaddafi even with NATO air strikes' - last firday close 108, this friday 113 -- now it feels this is perfect stroam for OIL price , nothing else left to go wrong , wait and see what additional things we get next friday old news when OIL price was 111.50 ------------------------------------------ http://af.reuters.com/article/commoditiesNews/idAFN0831234520110408 * On the New York Mercantile Exchange, May crude CLK1 rose $1.27, or 1.2 percent to $111.57 a barrel by 8:37 a.m. EDT trading from $110.11 to $111.90. * Libyan rebels said they repelled an assault by government troops on the eastern flank of the coastal city of Misrata, but fighting forced residents to flee the area. For details, see [ID:nLDE7370TA] * Three gas pipelines exploded in an Iranian province south of the capital Tehran, the semi-official Mehr news agency reported, saying the cause was unknown. [ID:nMOS833949] * Mass protests against autocratic Baath Party rule erupted in several Kurdish regions in eastern Syria, a Kurdish activist said, a day after President Bashar al-Assad offered Kurds Syrian nationality. [ID:nLDE7370Y2] * Bahrain's crown prince said he was committed to reform but warned of "no leniency" for those who tried to divide the kingdom. [ID:nLDE7370BV] * Tens of thousands of demonstrators for and against embattled Yemeni President Ali Abdullah Saleh rallied. [ID:nLDE7370SA] * Israeli air strikes in the Gaza Strip killed two militants from the Islamist group Hamas and three Palestinian civilians. [ID:nLDE7370NC] * China's leading refineries will raise crude oil throughput in April by 2 percent from the lowest daily volume in a year in March, a Reuters poll showed. [ID:nL3E7F71WL] * The North Sea Forties crude oil stream will load around 523,000 barrels per day in May, a trade source said, compared with scheduled April loadings of 500,000 bpd. [ID:nL9E7F700H] * The Bank of Japan kept monetary policy steady. * The White House and Congress worked to reach a U.S. budget deal and avoid a government shutdown that could come if no deal is reached by a Friday midnight deadline. MARKETS NEWS * World shares rose to their highest level in almost three years, driven by strong commodity prices, while expectations that Thursday's euro zone interest rate hike would be followed by more increases lifted the euro to a 15-month peak on the dollar. [MKTS/GLOB] [FRX/] * Gold hit record highs and silver its strongest since early 1980 as the dollar slid. [GOL/] * Copper advanced about 2 percent to its best level in a month as a weaker dollar and expectations for increasing demand boosted investor sentiment. [MET/L]
in todays OIL price popup 50 ticks are contributed by our beloved US senetors , they helped thru this silly budget deadlock hence weaker dollar , there go.... -- guys who made good money today , say thanks when you see US senator ------- SAN FRANCISCO (MarketWatch) â The euro climbed Friday to its highest level versus the U.S. dollar since January 2010 as traders dumped the greenback due to fears of a potential U.S. government shutdown. The dollar index /quotes/comstock/11j!i:dxy0 (DXY 74.98, -0.60, -0.80%) , a measure of the U.S. unit against a basket of six major rivals, fell to 75.102 from 75.553 late Thursday. The greenback âcontinues to weaken as further negative sentiment from the impending U.S. government shutdown also manifests itself as weakness against commodity prices with U.S. crude above $110, and silver hitting the $40 mark for the first time in over 30 years,â Michael Hewson, market analyst at CMC Markets, said in a note to clients. The euro /quotes/comstock/21o!x:seurusd (EURUSD 1.4455, +0.0157, +1.0980%) changed hands at $1.4426, up from $1.4311 in late North American trading Thursday. The 17-nation shared currency traded as high as $1.4444, according to FactSet Research data, its highest level since January 2010. âThe U.S. dollar is likely to continue as the most unloved currency as the marketâs focus shifts from the [European Central Bank] to the increasingly likelihood of a U.S. government shutdown,â said Michael Sneyd, currency strategist at Societe Generale.
I just got back from a nice hike and this same thought crossed my mind. The easy money's been to the long side. Every short I've taken has been either minimal profit or a scratch.
But no losers :eek: You must have the holy grail. Love to see live posts from you. Break even day for me after a decent start. Should have walked away with +52 Does look like it wants loads higher in the medium term to me though unfortunately. (unfortunate because I need to buy lots and lots of oil to heat my house!)
The more extreme trend days of this current rally have been fueled in no small part by day traders fading the trend and then being forced to cover those shorts. Swing traders are long and either staying long or getting longer. Position traders are long and either staying long or getting longer. Easiest money for a day trader should be buying pullbacks or upside breakouts.
Ammo, Swan, Visaria and Bigsnack, thank you all for the advice. Will regroup and try again. Probably will switch to QM and definitely will not be doing the all or nothing trade. After all, I'm a masochist
I'm told there are places you can go for an hourly fee to deal with that masochism -- psychiatric clinics or whorehouses. Take your pick. They seem much the same in my mind. And no matter which you pick it will be cheaper in the end than getting in the habit of making all-or-none bets. Glad to hear you are in a better decision making mode. Build the skill and have faith that the skill will carry the day. It will.