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"Just Oil"

Chikot
Jul 29 2011 at 13:38
2299 posts
caught this one. unfortunately on demo only. It's a good thing to trade just one thing. tend to know it better. still pity it is only demo. 120 pips today and made 15% this month. again pity it is only demo, but I am way more careful on live and do not trade Fridays.

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James_Bond
Jul 29 2011 at 14:12
556 posts
How did you trade that? Simply based on support and resistance levels?

Chikot
Jul 29 2011 at 15:08
2299 posts
support/ resistance, trend lines, pivot point and S1, momentum, overall picture and gut feeling. My working chart looks like spider web. Overall mood was bearish.

Chikot
Jul 29 2011 at 15:12
2299 posts
I closed all everything at 95.50. it dropped more though. target was this congestion from previous few days ago. it actually hold. dowspike towards 95.00. I actually targeted it but decided to closed at 99.50. I believe move toward 95.00 was just stop hunting I believe now price is back above 96.00. so, the level hold.

Chikot
Aug 01 2011 at 13:08
2299 posts
Missed first long entry at 96.85 as was thinking too much of whether to buy right away or wait for break and then retracement. It shot 60 pips in no time. tried to enter then with limit order on 97.50, it run so I bought aggressively and closed within few seconds for 30 pips. will be waiting.

Chikot
Aug 01 2011 at 13:10
2299 posts
I think I closed too early. let's see.

Chikot
Aug 01 2011 at 14:02
2299 posts
dropped more than 100 pips especially last 80 llike a stone. gotta be careful.

Chikot
Aug 01 2011 at 14:41
2299 posts
lost long trade when got trigger to go long then went short. Pity. it dropped 100 pips I picked around 35.
0.5% up. will call it a day especially as we are having holiday here.

Chikot
Aug 01 2011 at 14:58
2299 posts
Unbelievable! it's going to Friday's low now. Hard to step away form PC when see such volatility. Wife however pushing me away , LOL. I will not trade today anymore but it's kind of upsetting that I had good entry and did not pick as much, but in truth considering how everything was moving it was hard to let it run as trade could turn against me in no time. Friday's price action was on the other hand very predictable which let me stay in trade and pick more pips.
It generally dropped 160-170 pips from my entry.

SirGoodman
Aug 02 2011 at 07:42
23 posts
What gives you confidence to trade Oil ? Why not Gold ? I was just wondering ?

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