Are you not going to close out your trades tomorrow though, and wait and see what happens on tuesday when the IEA meet and decide whether they are going to reduce production, to keep oil above $100, so they keep making the profits they have been getting used to?? Because if the IEA does reduce production, in the currently extremely oversold market, dont you think that would spark a rally of atleast 15 - 20dollars back up, before we then get falling because of demand destruction??
Are you the same AMT4SWA poster that had a scorching record of day trading several round turns in ES futures per day?
You mean when I did this realtime challenge here at ET? http://www.elitetrader.com/vb/showthread.php?s=&threadid=22589 I have always been very active in trading the ES over the years and have made numerous posts about it.....so yes I do trade the ES all the time. In the past few years, I have shifted to more longer term dynamic positions that I trade around on a daily basis. I have also been very active trading oil futures the past 19 months....this market has just been spectacular for price movement and daily ranges.
Nope.....I am trading around my core SHORT position with intraday trades here and there. Any major price movements I will just address by potentially "reloading" my core SHORT trade after any significant price increase in oil. This is a longer term SHORT trade and I see no evidence yet to change my directional play. The worlds economies are NOT in a short term pullback, so additional "demand destruction" is ahead imo.....this could be called a macro economic short play the way I am looking at it. Oil trading between the $77's to the $85's is where I would be ready to play a longer term LONG side trade. I did buy oil in the $47's back in February of 07, so I am very willing to play the LONG side....oil is just not trading where I am willing to take significant shots at the LONG side yet.
Remember......"you gotta be IN to WIN" You have to be in longer term positions imo to play the significant moves in oil at this time......that is the highest probability plan of attack with all the volatility as I see it.
Profit targets are now getting covered with todays price action....will be playing these covers down to $98.75....remainder of the last portion of my position will be held for $85 to $77 (last 15% of my overall trade).
Aloha mate, ive sorta been trading for the last few days just copying what your profit target support levels are... Did you close any shorts out this afternoon at the mid 100.50 area though?? Because i tired to wait for the low 99s, and now holding losses. And what level is your stoploss at though please??? Any concern that eur/usd crash is now over, or atleast for a few days gna flatline or rebound slightly?? And IKE gna rise the prices of oil back a few dollars tomorrow n on weekend?? Thanks
Fuk me you still holding sell froms the 140s??!! :eek: :eek: :eek: I would almost pay just to see how much profit they are in at the moment.. lol Im gna change my style of trading slightly to trying to keep winning trades just going on and on. Instead of always just cashing them in and replacing them with a new 1 in the same direction, instead of just taking out an additional trade ontop of it.