I had great success before this. I could have just set a stop at 10% loss (10% of margin invested), and not doubled up on repetitive trades. We'll see...
Commodities are going up. Today was an aberration because as oil went up, the stockmarket rallied. Nickel trading was suspended because of margin calls. Those who shorted nickel owes a lot to monies. I think nickel trading resumes Friday. However, most other metals should be trading tomorrow. If you are short copper, you can take it in the chin. I read copper demand is up the other day.
I was long copper. I was reading articles that copper prices were actually expected to go down (or flat) in 2022 prior to the invasion. President of Ukraine already seems to be opening up to negotiating with Russia.
If you are trading against the trend, you are getting the worst of it. The big boys (hedge funds, mutual funds, banks, brokers) dictate the trend. Like running towards a tsunami. You will get wiped out. Common sense dictates, you align your trades with the major trend. That way, you are trading with the big boys, not against them.
That's what I was trying to do. But I ended up practically picking the bottom of euraud and eurchf. I still think it could go down again. Major factors are ECB announcement and possible end to conflict. Perhaps EUR has already priced in a major year-long conflict.
oh damn. i trade based on my signal and my scanning criteria and scco came up when i did my scanning and i like recent scco chart pattern....so i place my educated bets. my mentor told me i shouldn't care about the reason...oh well.