It only needs to go down to $33.20 for a margin call on 1 contact. Then, about every $0.95 after that. I will have all 7 called at 26.57. Although I am transferring more cash in.
I also went to very expensive seminar of Kent Calhoun and others in the 80's through 2000's, always keeping images of their guarantees in case of the material was not doable in some way. Best to use credit card and easier to get refunds. Some of the better seminars I attended were at Expo's but not from the speakers, traders I would bump into start conversations. There been many seminars that total material was not too great, but if it added a piece of the puzzle I had not yet discovered, was worth it to me. Am long Crude but hedged, volatility is way too much to add as I prefer to add on deep dips. My very long term Commodities model bottom/top fishes for original positions based on 9 year cycles, so it has to wait for huge retracements then seeks proprietary chart patterns for better entry. It is very often too early, case in point selling Indexes 2 years 10 months ago/hedged, so hedges 98% of the time cover losses, there are times first targets are made to cover the 2% of double losses of underlying and the hedge. Double losses occur when underlining PS occurs then reverses and hedge losses too. There is no system 100%, my style of trading usually makes small overall percentages for 3 years then huge profits when it finds extremes and reversals like this year. Model also adds on positions seeking 75% of 9 year cycle. I have had over 3 dozen trades trying to find highs in Indexes, last one been pretty decent. Model also puts on hedges to secure open profits at proprietary chart patterns when they occur. I found early that trailing stops does not allow for huge profits, so once at breakeven stops, they are adjusted for rollovers but stay at breakeven for years sometimes. My longest trade finding the top has been Eurodollar of seven years which was a Godsend as this forced me to learn how to do spread trading, recently gotten short Eurodollar. Looking back, wished I had taken @bone's course then going it alone. I look back as my progression as a trader, it been very fun now, been always to "keep at it" when many say it can't be done or too risky. But there is a difference between me trading 401k llc and those who rely on trading for living, just a few times I have relied on trading for a living and found it insanely more stressful, kudos for those who have learned to handle those stresses. At 63yo, still not taken a dime out of my retirement funds, huge difference when you not paid taxes...
There has actually been some good news. All parties want an agreement on supply cuts. Russia and Saudi Arabia are said to have made some progress. Norway said they would introduce supply cuts if other countries do. Maybe it will open positive! It's about 2 hours until judgement day.
Yea no big deal you can come back from that easy...Just go short the exact same position and let me be the first to congratulate you on the early retirement.
I must remind everyone that I wasn't paying attention to the fact that it was nearing closing time on Friday when I bought them. There was a weekend in March where it went down 8 points. That's what I had running through my mind this whole weekend. I was glad to just lose $16k. Honestly, I would probably do it again if I was able to watch it. Not leave it open over the weekend.