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Updated June 27, 2024
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April 21st, 2015, 02:57 AM
Oldenburg, Germany
Posts: 64 since Aug 2014
Thanks Given: 53
Thanks Received: 11
PandaWarrior
Timing is always an issue it seems....
And since timing can be tough, there are essentially two ways to deal with it, take a small loss a couple of times while you wait for the timing to be right, or use a very large stop and let the market work itself out.
Today I chose small stops and then was able to get on board while price did its thing.
Left some money on the table for sure, quite a lot actually but looking at the 60M chart it would either 1) stop at
HOD from yesterday and
reverse , 2) Break the HOD from yesterday and reverse and 3) Break the HOD from yesterday and run. I chose the conservative route....#1. And as price got close to it, I bracketed the current price and let either the stop or the limit be hit....the stop was hit and so out of the trade.
I was short early because there was a good case for it....and yesterday's 50% level was the target but after the open, price could not print a tick below the OR bar high....and today's OR low turned out to be the
LOD , something that rarely happens....I think its 9% of the time...where the OR low or high is the high or
low of the day .
I'm having a much better week than last week or even the last few weeks....I will be avoiding trading before inventory tomorrow. No sense in getting
chopped up prior to the number...my stats say the hours between 5:30 and 7:30 AM on Wednesday are my worst trading hours period. So simply eliminating that time frame will probably save me a lot of money over the year.
The kiddo is on spring break this week so lots of daddy stuff to do! She's great and a super kid to be around.....looking forward to it.
Trades went 0, -10, +14, 0, +38
Hey Panda,
just a bit off-topic. What is your font style on the chart?
Best regards
arroganzmaschine
Can you help answer these questions from other members on NexusFi?
Best Threads (Most Thanked) in the last 7 days on NexusFi
April 21st, 2015, 08:56 AM
In the heat
Posts: 3,165 since Mar 2010
Thanks Given: 6,329
Thanks Received: 13,405
arroganzmaschine
Hey Panda,
just a bit off-topic. What is your font style on the chart?
Best regards
arroganzmaschine
Arial 14
Simplicity is the ultimate sophistication, Leonardo da Vinci
Most people chose unhappiness over uncertainty, Tim Ferris
April 21st, 2015, 09:46 AM
Oldenburg, Germany
Posts: 64 since Aug 2014
Thanks Given: 53
Thanks Received: 11
PandaWarrior
Also on the price and time axis?
April 21st, 2015, 10:07 AM
In the heat
Posts: 3,165 since Mar 2010
Thanks Given: 6,329
Thanks Received: 13,405
arroganzmaschine
Also on the price and time axis?
the indicators have their own font and size....arial 14 is the time and price font and size. not sure about the indicators.
Simplicity is the ultimate sophistication, Leonardo da Vinci
Most people chose unhappiness over uncertainty, Tim Ferris
April 22nd, 2015, 09:12 AM
Cleveland, OH
Experience: Advanced
Platform: QST
Broker: QST, DeCarley Trading, Gain
Trading: Options on Futures
Posts: 3,081 since Jul 2011
Thanks Given: 980
Thanks Received: 5,785
SMCJB
They did say, "oil prices will not fall below $50/bbl for sustained periods".
April 22nd, 2015, 09:28 AM
Cleveland, OH
Experience: Advanced
Platform: QST
Broker: QST, DeCarley Trading, Gain
Trading: Options on Futures
Posts: 3,081 since Jul 2011
Thanks Given: 980
Thanks Received: 5,785
SMCJB
From another article.
Quoting
Ian Taylor, head of the world's largest oil trader, Vitol , told Reuters he thought global benchmark Brent crude oil, which tumbled 60 percent to just above $45 a barrel in January, could dip again briefly.
But the oil market had likely already seen its 2015 lows.
"We will probably see one more dip in the second quarter but prices probably won't go below this year's lows," Taylor told Reuters
UPDATE 1-Oil unlikely to hit new 2015 lows - traders | Reuters
April 22nd, 2015, 09:33 AM
Nicosia, Cyprus
Posts: 191 since Dec 2013
Thanks Given: 28
Thanks Received: 106
They probably fully loaded longs and/or physical crude And a shortage of storage capacity isn't miles away...
April 22nd, 2015, 02:41 PM
Nicosia, Cyprus
Posts: 191 since Dec 2013
Thanks Given: 28
Thanks Received: 106
Personally I'm slightly disappointed with trading crude over past few days. After post-EIA spike we've stuck in 60-70c range . Where are all vols gone to? Trading volumes were down thru the week and today may barely reach just a half of last Wed peaks. Intraday trading FI futures and Russell will eventually bring more return than trading energy products this week.
April 27th, 2015, 09:26 AM
Cleveland, OH
Experience: Advanced
Platform: QST
Broker: QST, DeCarley Trading, Gain
Trading: Options on Futures
Posts: 3,081 since Jul 2011
Thanks Given: 980
Thanks Received: 5,785
Quoting
West Texas Intermediate oil delivered into Midland has slumped recently on news of planned work in May on two major pipelines in the region - Sunoco Logistics Partners LP's 300,000 barrel-per-day West Texas Gulf and the 280,000 bpd Mid Valley pipeline. These lines are primarily responsible for bringing Permian crude closer to refiners on the Gulf Coast.
Pipeline outages in May will result in extra barrels moved into Cushing, as physical oil traders will be "less likely to buy May WTI at Cushing for need of storage space for incremental May deliveries," said Dominic Haywood, an oil analyst at Energy Aspects in London.
Traders alarmed oil glut is a strain on West Texas storage tanks | Reuters
Last Updated on June 27, 2024