Ive just bought Arabica Coffee at 253.60, and will buy more if it takes out current days low and goes below 253... Target is 256.75
And here is why i have bought Coffee at this price, and why im so confident on this trade.... As if you look over the past few years, EVERY SINGLE TIME there has been a down move this big and this steep, EVERY SINGLE TIME its then been followed by a bounce back in price. And so especially after such a big down move over these last 2days without an actual pullback, 266 down to 252 in just 2days, im happy with this trade.
I added abit more, with my final long going in at 51.75... My average entry price is now at 253.10, (Market at 252.90 as i type this), and at trade is at £3 per tick from that average entry price.
Here's my ES trade called live today in the ES thread: Just 1 contract though, so only around $250 profit or so on that. I broke my promise to myself about not trading any more this week, lol. Couldn't help it! Over 3k for the week now though I'll stop disrupting your thread quite so much soon, lol. Just you said that you felt like you were talking to yourself! Good luck.
I increased the target-order on that trade to 84.57, wokeup just now and saw it was touched and so trade cashed in for 145ticks profit. (£191.50 profit) Im still stuck holding this stupid coffee trade though which has been trying to crucify me everyday for the last 3weeks now, and so thats why i could only short-sell oil at £1.50 per tick! My average entry price for coffee is around 249, and so im trying to dump the trade for anything close to 240 (for a loss).
Still got a set of nuts that drag on the pavement and leave a trail of sparks when you walk then spanish or is domgilberto89?
Cashed in the trade at 85.70 (was abit early as it dipped down to 85.56 as its low), and have just re-sold more heavily at 85.80, target set at 83.92. The reason ive sold is because oil is looking ridiculously weak! Dow is up over 1,000points straight in 4days (oil up 10dollars with barely more than a 1dollar pullback along that rise). However TODAY dow is up nearly 200points, more importantly Aud/Usd is over 2.5% stronger today, after rising over 2% yesterday, (so the commodity-dollar weakened by nearly 5% in 2days), and yet oil is barely even above break-even TODAY. That means that tomorrow when the dow very likely drops 50-100points at some point, and the dollar bounces slightly, oil will drop hard and fast!!
Oil has fallen straight down to 85.42 area now. Although its only 30ticks profit (abit less than £80 open profit) im already seriously desperate to just cash that in so i can have that profit!! Im not going to do that as that would be extremely foolish since i made the trade based on solid reasons, set my target price where i have for a reason, and those reasons are all still completely valid. (Infact are even more valid now as the market has moved showing that i was correct) But i really really struggle to hold a trade for more than 60-80ticks profit without cashing it in to risk losing that profit!