Urgent message - CL at 78

Discussion in 'Commodity Futures' started by gmst, Mar 22, 2012.

  1. gmst


    I had a dream tonight in which I saw CL June contract was trading at 78. Finding it hard to believe, I rechecked my quotes and charts 3 times inside the dream and saw the fall from 107 to 78. I don't clearly remember the chart in the dream, so can't be sure if the fall happened over few days or took like more than a month.

    I don't believe in prophecies or dreams but warning all ET members, for otherwise don't want to be accused of trading on insider information :)

    I won't post a thread like this, but waking up I saw China and Eurozone PMI missing big and risk aversion is taking hold across all asset class, so posting this message. LOL

    Disclaimer: I am long dollar and short EUR, AUD and NZD - so basically am in risk aversion trade.
  2. Lornz


    I just bet the farm on this.

    If it doesn't work out, I will hunt you down!
  3. short euro. better close this one.

    rest should be fine.
  4. gmst


    agreed generally euro has been super strong compared to others. Shorted it after PMI miss, think it will go towards 1.31 - especially given SP weakness.

    have a buy to cover order at 1.311 and stop at 1.321. so we will see how it goes.
  5. you might be right.

    i am only looking for buy eu. Currently no position.
  6. gmst


    Since we are discussing thought I will update, I booked my euro short position with +5 pips after being in the position for 5 hrs. Closed all other positions also for the time being.
  7. a bit modest target compared to CL move you dreamt about :)

    thinking how to play this kind of shot - expect large move - and i will next time just go full in. Tried reduced size and happened same what you did. took small profit.

    i do swing trades and my disaster stop is considerably larger than your targets. So I can be buyer and you seller and still both make money.
  8. gmst


    A bit modest target ---- LOL :)

    Actually, I think swing trading is one of the easiest ways to make money in the market. just follow 10 different markets - say 5 currencies including crosses, S&P, gold, copper, oil, ng etc. and just keep buying and selling pullbacks and overshoots in the direction of dominant trend. Typical R:R is in the range of 2:1 or better and % accuracy > 70%. Easy to compute PF from these stats. When my account has lots more zeros than currently, this is what I am going to do predominantly.

    For the last 3 yrs, I have been researching and have finally developed a few strategies - very specific rules of entry and exit. Currently, I am focused on improving my discipline to just execute my strategies. My aim is to just become a robot and run those strategies for 3 yrs and then my account will have few extra zeros in their end :) Automation is too tough - I would rather just sit and execute like a robot. Thats my aim currently.