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"Just Oil"

Chikot
May 06 2011 at 22:33
posts 2299
yep, I feel actually dissapointed and down despite making returns. I shorted this thing from 109.00 and I had this idea to leave 1/4 th of my trade running with no take profit but still closed it for only 150 pips. and tonight same.

I also was thinking oil was going up as bulls were coming back but wanted to sleep :)

This is my third month trading oil. I used to tarde Forex but always wanted to trade commodities. And my daily schedule changed in such a way that I cannot trade Forex when it worth trading according to my style. I work 2 shifts every day and time is good to trade exchange based instruments.
Can you say that oil behaves differently from Forex? I think so. But I also think oil is not for newbies.
Chikot
May 09 2011 at 22:27
posts 2299
look like nice situation to start looking for long entries.
I entered long today after getting stopped on short trade, but had to leave early and closed trade.
Nice daily candle. I wonder if 10 holds now. I think it ill.
Chikot
May 10 2011 at 06:59
posts 2299
100 has held so far and currently price is testing 101 which is holding as support. Price is under daily open though. must be careful. I think if I go long will do so with smaller size.
Chikot
May 10 2011 at 07:18
posts 2299
Here in Toronto despite practically 15-18% drop of crude price in one week gas is still costs practically same. They dropped just $0.03-0.04. Does it say that big guys know something? Otherwise how to explain why prices are not going down at the pump?
May be because the gasoline made of oi; bought at higher prices for now?
Chikot
May 10 2011 at 07:30
posts 2299
bought when price failed to break 100.70-100.75 level and crossed 101 from below. closed half position and moved stop to BE on second half. plan is to close half of what is left around 102-102.50 if it gets there. i will see. the last part will be left to run.
Chikot
May 10 2011 at 07:35
posts 2299
already was at 80 pips. waiting.
Chikot
May 10 2011 at 07:35
posts 2299
daily open usually serves as sh*t magnet.
Chikot
May 10 2011 at 07:41
posts 2299
ok closed half of the left for 70 pips and left the rest to run. will trail.
Chikot
May 10 2011 at 07:43
posts 2299
on what's left locked 20 pips in profit. if 102 is broken will move another 30 pips.
Chikot
May 10 2011 at 07:47
posts 2299
moved stop. have 40 pips locked.
Chikot
May 10 2011 at 07:48
posts 2299
102 was broken but is not holding yet. I am looking for 102.35 to get broken to move stop again.
Chikot
May 10 2011 at 07:58
posts 2299
I might get stopped now. my stop at 101.50. price is at 101.80
Chikot
May 10 2011 at 08:02
posts 2299
decided to move stop down a little bit. 101.50 is a magnet. will move it back if price moves higher again.
do not want to lose this trade as it might give more pips.
speki
May 10 2011 at 08:33
posts 735
Oh the official explanation may sound like that yeah but in reality it's just extra profit for the petrol company. Nobody forces them to follow crude prices up and down and they're aware of that. Crude goes up - next day you see it at the pump. Crude collapses - no hurry to cut the prices.

Chikot posted:
Otherwise how to explain why prices are not going down at the pump?
<b>May be because the gasoline made of oil bought at higher prices for now?</b>
Surround yourself with people whose eyes light up when they see you and who have no agenda for your reform.
Chikot
May 10 2011 at 08:36
posts 2299
did right thing. it did hit 101.50. now went up. will move stop if previous high reached.
Chikot
May 10 2011 at 08:38
posts 2299
It is understandable but in this case it is too much.
Price dropped considerably and stays here for already enough time to consider dropping price at the pump.
Generally they are quick to rise and slow to drop.
I remember 2005 after Catrina prices skyrocketed.

speki posted:
    Oh the official explanation may sound like that yeah but in reality it's just extra profit for the petrol company. Nobody forces them to follow crude prices up and down and they're aware of that. Crude goes up - next day you see it at the pump. Crude collapses - no hurry to cut the prices.

Chikot posted:
Otherwise how to explain why prices are not going down at the pump?
<b>May be because the gasoline made of oil bought at higher prices for now?</b>
speki
May 10 2011 at 08:48
posts 735
YEAH! Very well said bro.

Chikot posted:
Generally they are quick to rise and slow to drop.
Surround yourself with people whose eyes light up when they see you and who have no agenda for your reform.
Chikot
May 10 2011 at 09:14
posts 2299
Chikot
May 10 2011 at 09:15
posts 2299
I wonder why there is no control over such behavior.
speki posted:
    YEAH! Very well said bro.

Chikot posted:
Generally they are quick to rise and slow to drop.
Chikot
May 10 2011 at 09:20
posts 2299
I will be leaving soon. start watching since 9:30 a.m. again.
nice trade but could havemade better.
should have closed first half later for more pips, but 102.36 was resistance so I felt safe to secure some profit and reduce risk.
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