Discussion in 'Trading' started by empee, Jul 26, 2007.
yeah I know, but if I'm right the risk/reward is too great. Went short 76.50 (qmu7) stop 78.50.
yes i was late posting i sold when it broke the range on the intraday
moved stop to +.25 (76.75) if its gonna dump it shouldn't hold 76
If you're correct, does that mean we should praise you as the all time daytrading God, give you your own personal forum, and pay you to post on these forums ?
well, its a huge trade for me, I'm looking for oil to go test at least $55 or less. If the trade had gone bad, I would have lost a considerable amount of my account versus what I normally risk, so its one of those trades that doesn't come along that often.
If it works out, its one of those trades that really makes your acct. (think about $20 move on a per contract basis)
Moved stop the breakeven (76.50) Let see what happens.
Basically, I plunged. (well, for me anyway)
see I was wrong, you can bash me now
I stopped for +.10
It's alright, im anticipating a top on oil myself but I'm glad as hell I got out on a profit this morning.
No one's perfect, who cares how many times you're wrong as long as you make way more when you're right
Oil short action today. I'm calling the top this time. No hurricanes to speak of, higher inventory at 10:30? Short ETF OIL?
If wrong, it goes to 77-78 a barrel. No worries, hold position. Last 3 years, oil has gone down from here into winter. Why do people always think oil will go to $100?
because it will go to $100 if any of current risks materialize, e.g. OPEC reviews their reserves, hurricane destroys GOM infrastructure, BRIC does not stop grow double digits, Iran is bombed, peak oil is true etc...
Consumer still alive and well, today's SSS
GM unit sales up on strong truck/SUV sales
Gold pushing 700
No major storm threat to GM infrastructure to materialize yet
Oil surging higher
Not a good case to be short the black goo right now
Oh almost forgot, Good Ole Ben is expected to do a copter run in the next couple of weeks....
Too much ammo on the bulls side without even Middle East tensions on the rise.
Just my .02
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