Spanish89- Opportunist Trades (2nd journal)

Hey mate how are you? Good to see you back. I remember you good calls on crude oil back in the days

 

Ive just updated my profit target to now being at 1202.1 (futures contract).


Market is currently at 1218,
so just need a 1.5% drop touch at some point during today,
and im set to bank approx £650 profit from this trade.



I don't want to hold this trade tomorrow no matter what, and an very uncomfortable about holding this into the jobless claims and then ecb conference and rate decision,
so if by the the market is floating between 1202 and 1211 il take profit there.

 

Apologies for the delays in posting,
nothing has changed as haven't cashed in the trade yet as i still haven't seen true panic and blood in the streets,
and im not willing to cash it till then.

Ive created nice thread though that may interest most of you- http://www.elitetrader.com/vb/showthread.php?threadid=230381


Im now just waiting for this market to be totally ransacked!!


And am trying to workout if i should lower my profit target from 1205.7 down to 1196.5....

 

Yay this 4% crash today has once again taken me from nearly £1,500 open loss,
to now being around break-even..


Market is currently floating at 1,226 however my target is remaining at 1205.7,
so merely need the market at any point overnight or tomorrow to dip down 1.5% more,
and then im out with about £650 profit.

 

I would now like to smack some oil, as on a day that dow is down 400points oil is barely down 40ticks at the close!!

(It was, and would be ALOT lower, however the inventory data has caused a lovely little delay in oils move down,
which is a dream opportunity for traders to load-up shorts)

 

Just looked at charts,
i want to sell oil at 96.08 / 96.23,
and my target will be 91.89

 

Grrrr i am now very angry!!


I moved my sell order for oil to 95.90,
market touched 95.89 as its highest peak and then dropped straight to 95.50s!!


So i will be extremely angry if this tanks before testing that high again!

 

Whoooo my order got filled 5minutes ago on a spike that came out of nowehere and touched 95.96 as its highest peak,
before dropping down to the 95.70 area now...


I actually got filled with 3ticks slippage in my favour, which is nice as is a totally free extra £6 cash,
which i will use to treat myself to a chinese takeaway for dinner tonight..


My sell is 95.89, target is 93.80

 

And heres the chart to show why ive set my target at 93.80


Ive used green circles to highlight the continuous support areas along that price line.

 

Just cashed in that trade at 95.20 for £130 profit!!


And have just resold oil at 95.48