How I trade crude oil

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Old May 5, 2017, 7:26pm   #25
 
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if you have a little volatility, half an idea where sh^t will turn, and a reasonable stop, I might be able to start making $ off this venture
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Old May 5, 2017, 7:29pm   #26
 
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every contract i allow myself 3 adds..

thats one of my rules that i use to keep myself out of trouble...no more than 3 adds for risk management
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if you have a little volatility, half an idea where sh^t will turn, and a reasonable stop, I might be able to start making $ off this venture
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Old May 5, 2017, 7:34pm   #27
 
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add s 31
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if you have a little volatility, half an idea where sh^t will turn, and a reasonable stop, I might be able to start making $ off this venture
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Old May 5, 2017, 7:39pm   #28
 
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add s 29 last add

24 basis

take us back to 12
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Old May 10, 2017, 10:07pm   #29
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oil draw down announced today

price action to me looks like (on daily chart) bulls will come back in and take it to around 50.26 mark

on 1hr chart tmrw I'll look for long opportunity if price action shows me it and I'll post result on here

would you guys agree with long?
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Old May 10, 2017, 10:19pm   #30
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Originally Posted by tablemountain View Post
oil draw down announced today

price action to me looks like (on daily chart) bulls will come back in and take it to around 50.26 mark

on 1hr chart tmrw I'll look for long opportunity if price action shows me it and I'll post result on here

would you guys agree with long?
Are you looking at taking bites of the cherry up to 50, or to stay in for the duration?
If you are staying in for the duration, where will you putting (or trailing) your stop?

I was long at 45 a couple of day ago, I was looking for a target of 53, but I exited at 46.70, thinking it looked a bit choppy. I meant to get back in at 47.12. But never did.

Last edited by Jason101; May 10, 2017 at 10:27pm.
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Old May 10, 2017, 10:23pm   #31
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Are you looking at taking bites of the cherry up to 50, or to stay in for the duration?
If you are in for the long trip, where will you putting your stop?
If tmrw shows me a support level, where i can go long, i'll enter on 5 min chart.

I've never held any trade overnight etc im new to trading and not big time (not to say if it wasn't a good trade I wouldn't hold on!)

50.26 is just a level id be weary of not get out of exactly, if opec cuts continue etc could see oil climb much higher then this. i dont trade news but hard to not take account of it in a commodity like oil....if cuts continue ive read on bloomberg and retuers arcticles oil could hit 60 or 70

if i get an entry tmrw ill post how i entered on daily, 1hr and 5 min charts
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Old May 10, 2017, 10:59pm   #32
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I trade everything, but I do love oil. I just feel at home with it.
My holding time is for as long as possible, usually from 3 days to 6 months.

I have found that often the price will go where the charts point it will go, but at a time that
suits the news items. Like you are waiting for it move (using technicals) the price stays in a tight range.
Then unexpectedly news is released and then price goes merely on its way, to an area you were expecting it go.

If you wanted to try holding for longer periods, but are put off by the extra expense on the bigger stop you could spread bet with a company called Finspreads, they offer 10p a pip. I have never used them so I can't particularly recommend them.
In the mean time if you do end up holding through the night, just remember to have a stop in place,
guaranteed if possible.

Have fun, but make sure its safe fun!
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