Heard of CL for a long time, decided to give it a try today

Discussion in 'Commodity Futures' started by BPtrader, Sep 24, 2009.

  1. asd123

    asd123

    Ah CL, she's a tough mistress. She wounded me many times when I was getting to know her. But when she's in heat, the loving is so sweet.

    On a different note, if you want to meet CL's equity-index-half-sister try looking at FDAX and to a lesser extent TF. Look but don't touch. BTW, you should probably look at QM for longer time frames, but if you're scalping with tight stops CL is the way to go. Good luck.
     
    #21     Sep 25, 2009
  2. amen neo. and funny how true that 3 tick relief winner seemed to everyone. sounds like most have been there. And wow to the 10 lot TF, I'd toss my cookies. :D
     
    #22     Sep 25, 2009

  3. Too funny.

    So a guy that has no idea what freakin contract to trade is going to then claim that others are noobs?

    Really?

    Then...

    Sounds like a solid plan to me - sell bottoms and then pray you can get out of your position 3 ticks after being negative at least 22 ticks.

    Those numbers should work for you over time.

    And it gets better...



    But you got it under control. Good luck. At this point that's all you got on your side.

    :D
     
    #23     Sep 26, 2009
  4. wpfund

    wpfund

    Hmm, the "bptrader" moniker gives the impression that the op is/was an energy trader at bp (the oil company). Or, at least, is aware of the dynamics of the energy market...
     
    #24     Sep 26, 2009

  5. One might think so but as evidenced by this person's posts, they have NO CLUE about trading in these markets.
     
    #25     Sep 26, 2009
  6. I have been trading CL for years, and have been profitable trading it and I have to say that it is a bitch. It`s not for the faint of heart, but if you feel the need to trade crude like most have said here trade the mini`s first.

    One piece of advice I would give is to stay away from NG.

    CL is like a kids karate class, while NG is MMA.

    Good luck, your gonna need it.
     
    #26     Sep 26, 2009
  7. If you think I know where the bottom is, I am a genius.

    If you think I sell the bottom, I am an idiot.

    How can you put a genius and an idiot together? You must be confused.
     
    #27     Sep 28, 2009

  8. Thanks for the advice.

    But I have to decline your "Good luck." There is no place for luck. :)
     
    #28     Sep 28, 2009
  9. I got a good chuckle out of this one as I traded oil my first week of trading. Read some books on trendlines - set em up and bought the first upside break i saw. In abut 30 seconds I was up about 6 grand (can't remember the exact amount).

    The exhiliration I felt was unbeleivable - this trading shit is easy - I called my wife and told her we gonna be rich baby!

    Later that day I was watching the news and realized I had entered the trade literally seconds before Nigerian rebels attacked a Shell refinery. Can you spell L.U.C.K.Y.

    Well the story does not have a "Beverly Hillbillies" ending. The next three days of oil trading liquidated my account (close to 25k). This was before I knew what a stop loss was. I was trading with no stop and trying to play a video game with the cover button. I was too slow and had to go back to "trading for real life dummies" (you won't find this in any bookstore - you must attend the University of Hard Knocks).

    Me don't mess with OIL NO MO!

    I don't want to insult you with a wish of luck - so be safe and protect your capital (at least I learned 1 lesson).
     
    #29     Sep 28, 2009
  10. My condolences to you for your losses, but take a minute to enjoy the stories of bigger losses of airline companies, I guess they are the dumbest oil traders. You should jump back in and take money from them.

    http://www.tradingmarkets.com/.site/news/Stock News/2201051/
     
    #30     Sep 28, 2009