Breaking my rule if Oil drops to $15p/b

Nowler said:
I hear things are much cheaper up your neck of the woods...
You got much room? :)

I've no idea where they are going to store it all, but I'm excited to see how it all unfolds.

What's your answer to your own question?
Click to expand...
The price will drop.
When all storage full and all supertankers are fully laden out at sea with nowhere to dock, all bets off as traders fall over themselves in the battle not to take delivery.
 
counter_violent said:
The price will drop.
When all storage full and all supertankers are fully laden out at sea with nowhere to dock, all bets off as traders fall over themselves in the battle not to take delivery.
Click to expand...

My nipples are getting hard.
I love it when you talk dirty to me!

Let it drop I say.
As long as WTI stays alive, my spreadbetting account doesnt care
 
Imagine getting a knock at the door some morning...
Some bloke is standing there with a tanker full of oil, asking where you want it left :)

Lol
 
Nowler said:
You seem to know more about this than I do.
My grasp on this industry is crude (see what I did there! :) )
Click to expand...
I did, unfortunately:p

As for knowing more than you - I sincerely doubt that. I almost never trade oil but I read (far too much) and tend to collect use-ful/less information. If you're interested in Oil related links, see some of my regular ones in the attached image:
Oil_Links.png
 
cantagril said:
I did, unfortunately:p

As for knowing more than you - I sincerely doubt that. I almost never trade oil but I read (far too much) and tend to collect use-ful/less information. If you're interested in Oil related links, see some of my regular ones in the attached image:
View attachment 277422
Click to expand...

Cheers buddy!

I see some familiar ones, and will have a look at the others.
Apart from ForexLive, my other main stop for news is Twitter.
Twitter is a very valuable source if you follow the right basket of people
 
Nowler said:
Apart from ForexLive, my other main stop for news is Twitter.
Twitter is a very valuable source if you follow the right basket of people
Click to expand...
Happy coincidence and all but ffsear posted this on another thread earlier today. I use Twitter myself in a limited and clunky way and the video was quite useful for me:
ffsear said:
Best thing you can do is use twitter and throw your own news feed tot together.
This guys talks about how to set it up.
Click to expand...
 
cantagril said:
Happy coincidence and all but ffsear posted this on another thread earlier today. I use Twitter myself in a limited and clunky way and the video was quite useful for me:
Click to expand...

Informative video, thanks.
I follow about 80 people, though I am due a bit of a cull.

Warren hasn't Tweeted in about 4 years (I wonder how much he would charge to teach Trump, lol)
 
Nowler said:
Informative video, thanks.
I follow about 80 people, though I am due a bit of a cull.
Click to expand...
80!!!
I follow rather less than half that many and it's still more than I need. I find that having more information doesn't equate to better trading...and the same goes for bells and whistles aka chart indicators etc. I know when I've got too much because things simply become more of an effort with an often lesser result...so I try to keep everything to the leanest sensible.

It also helps that I'm really lazy :)
 
cantagril said:
80!!!
I follow rather less than half that many and it's still more than I need. I find that having more information doesn't equate to better trading...and the same goes for bells and whistles aka chart indicators etc. I know when I've got too much because things simply become more of an effort with an often lesser result...so I try to keep everything to the leanest sensible.

It also helps that I'm really lazy :)
Click to expand...

I went through the list and I wouldnt remove anyone. I dont use Twitter extensively... it's more to keep me in the loop and aware of the broader picture.

I follow some central banks, some news outlets such as FT etc... I follow MorningStar. Some of the things I follow, I also follow some of their employees own accounts. For example i follow Hedgeye and also follow McCullough and Dale's accounts.

So 80 sounds like a lot, but in actuality there's overlap.

Some stuff is more training related like Belafiore, Steenbarger, Dalio...

Not many are constantly useful, but at times some of them post an interesting chart which reframes something for me that I would otherwise not been aware of.

Note: I follow T2W also, of course :)
 
Last edited:
Fingers were very itchy a few hours ago as I watched WTI fall.
I just wanted to buy more at market, rather than wait to see if price would fall to my entry order.

In the end, I deposited a little more into the account to sort out my percentages, and logged out.
The temptations of trading never go away, lol
 
Nowler said:
My nipples are getting hard.
I love it when you talk dirty to me!

Let it drop I say.
As long as WTI stays alive, my spreadbetting account doesnt care
Click to expand...

Those nipples must be aching by now with all that hardness going on.
Oil playing out exactly as expected.

www.bbc.co.uk

US oil prices turn negative as demand dries up

Coronavirus downturn has put major pressure on oil prices with demand slumping and storage running out.
www.bbc.co.uk
 
counter_violent said:
Those nipples must be aching by now with all that hardness going on.
Oil playing out exactly as expected.

www.bbc.co.uk

US oil prices turn negative as demand dries up

Coronavirus downturn has put major pressure on oil prices with demand slumping and storage running out.
www.bbc.co.uk
Click to expand...

I'm loving it!
Hopefully it drops at least another $1.5 to $2 so I can buy more.

Certain industries will be coming back online soon, so that will put a stronger floor under prices in the near term and prepare for the rise in the mid to longer term.

Ireland are talking about opening up construction sites soon. I believe hardwares have already been opened.

Once economies open up more, people are going to take the hand and all with oil prices being as low as they are. Not necessarily saying this next month or 2 is enough to bring oil prices back to 40-50/barrel but demand will be a lot higher and will help deplete those storage.

OPEC+ need to cut more though
 
West Texas Sludge @ pocket money prices.

Fill up 'yer tank @ $10 / barrel. ... bring any container, we'll fill that too.. please, just take it away ! !

:ROFLMAO: :ROFLMAO: :ROFLMAO:

.. been following the price down an luvin' it all the way.

Lead us traders into temptation and deliver us from monopolies.

And no, @Nowler, you can't fill grannies' bath tub, not even for a day or two !

;)
 
MasterOfCoin said:
West Texas Sludge @ pocket money prices.

Fill up 'yer tank @ $10 / barrel. ... bring any container, we'll fill that too.. please, just take it away ! !

:ROFLMAO: :ROFLMAO: :ROFLMAO:

.. been following the price down an luvin' it all the way.

Lead us traders into temptation and deliver us from monopolies.

And no, @Nowler, you can't fill grannies' bath tub, not even for a day or two !

;)
Click to expand...
Covid-19 sure... not allowed near her or her bath, lol 🤷‍♂️

By following it down, you mean selling it down, or buying at cheaper and cheaper prices?
I have quadrupled my account by depositing more into it. My next entry order is at $16.50🕺

13.5% Drawdown
 
So much for the name of the thread :)

Wait till $15...?
Pftt

I am just about on top of my limit though... so there's only 1 more entry order down around the $10 level.
No more after that unless I make more deposits
 
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