Trade Review of VLO

Discussion in 'Stocks' started by oopsies, Dec 20, 2017.

  1. oopsies


    Hello, I could really use a second pair of eyes for this one. Had a bad streak and I'm feeling a little hard to control the emotions.

    I went long on VLO at $86.682. I'm looking at /CL (Crude Futures, Light, Sweet) and I'm seeing what I think is a sign of up-trend stalling. VLO does not follow /CL exactly but it has been following it in the up-trend for some time now when it should be more of an inverse relationship (at least as far as I could tell). In addition, each consolidation period in VLO has been shorter and shorter as it moved upwards.

    I am thinking of getting out of the trade. I do not know this pattern of shrinking consolidation periods. Sounds to me that at each consolidation period, buyers are no longer taking profits. I'm inclined to think that institutional buying is drying up. But I'm emotional from a loss today so I can't figure out if I'm thinking this way because I'm scared of losing even this trade.

    What do others think?
  2. qxr1011


    what you just described is not a trade based on method, but on the sales pitch that you make to yourself

    do not trade
    speedo and truetype like this.
  3. oopsies


    I'm a little confused... do you mean, do not trade period, ever? (As in, general methodology is wrong.) Or do you mean, do not execute the trade I am toying with in my mind and just walk away from the screen? o_O
  4. qxr1011


    yes do not take this trade and read my post in your other thread
  5. qxr1011


    the sales pitch is very popular on wall street, that's how it makes recommendations to its clients

    and many people when decide to trade on their own try to copycat the professionals... :)

    the problem is the professionals do no know how to trade, and their sales pitch is not ok even for investing , but especially deadly for trading