Reader makes 200 points trading Crude Oil after reading Make Me Some Money – Don’t Do it!
I want to start off buy saying that I receive a message from a reader today, it read “Hi Alan, I saw your analysis of the Crude Oil market on Friday and decided that it was a good time to get in so I went long. I got in at 84.05 and when the markets opened on Sunday, I was already 200 points up! I took profits! Thank you so much!”
The first thing I want to be clear is that my analysis is not a recommendation to trade.. it’s purely educational and if you do trade, it is off your own back! As you can see from the chart below… the market reached a peak of 8660 since Friday’s post (this was at 83.50 so 300 points gain) before it crashed heavily.. it’s now sitting at below 8200 which in total is over 400 points from the peak.
Though I’m happy the person above made a huge profit, I’m afraid to say it was rather a gamble which paid off this time… they may not be so lucky next time (don’t worry, I had already emailed the person and he was ok with me posting all this). The most important thing is to conserve capital, trade only money you’re comfortable losing and then trade your own trading system.
