a life changing event to any trader, can be a massive homerun in position/pyramid trades. similar to a lottery ticket, a set of rules can be drawn up to create a system that exposes you to the derivatives market, that uses pyramid rules, and profit rules, based on random price movement of different derivative, historically there will be some derivatives that have massive gains in terms of price over a multi year span. you wont be able to identify which one will do it, but if you expose yourself to them all based on certain set of rules, you can pyramid into the massive trend and hit changes in equity that can be life changing in scope.
crude and other macro markets contradicting each other, even a inflationary bias with FED funds cut, can't curtail supply glut forces on price as the credit markets are indicating.
nice trends in oil, sure frees up Ben's hands for cutting rates, how about 10 dollar wheat.....woo woo.(sarcasm) =)
Looks like you're down about $8 a barrel, with October getting close to last trade day. What's your next move? OldTrader
the position sizing has minimal effect on acct equity until various markets prove themselves in terms of excurision. over monthly periods, some make money other loose money, it balances out, till one takes off. Thats the key to the system.
One did "take off".....against you better than 10%. Maybe something else balances it out, but you did call this the "Crude Oil Journal", and so far you've got a substantial move against you. Nothing else was posted in terms of a real time type of trade that offsets this. OldTrader
per 1N 2007 sequential 2226 5040 -113 628 -1,100 -623 2575 -1,825 4,175 6063 12,225 10,013 213 2800 2862 950 2998 -1,875 -1219 -1,450 -11-3 -175 -11,405 -1,983 1798 -713 100 -75 -1278 -50 -1513 -31,580 -4730 3625 5983 10753 -2919 -23865 12988 38318 -1975 -3683 -2900 625 -1503 -4262 8585 3088 -338 -13 44 -275 -800
rollover reversal, heres a contrary indicator. I'm going to go long oil today, target 100 dollars. long 80 ...sl 70 tp 100
downside stops blown... aren't we going to 100?!! how about even 80...I will take it. cost averaging here....another at 79.40 buy buy buy buy...forget about the recession forecasts....the bond market doesn't know anything.
Chris, I'm confused here. Are you being sarcastic, or are saying that you have covered the short back from the low 70's and are now long, looking for 100? Are you adding to the short at 79.40? Good luck, whatever your position(s) is.