Posts Tagged commodity trading
This is what happened from trading crude oil. The trade was opened last week and the blog entry for it is here:
http://www.makemesomemoney.co.uk/days-of-negative-price-action-on-crude-oil/
This is another example of when holding out for larger moves doesn't work out and is therefore making it hard to justify this way of trading. This week, two trades were stopped out and both in loss when if I had followed my previous way of closing out trades I would have been in profit.
The chart is b
February 17, 2013
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On the 4th of February we saw our first bullish pinbar and I went long at this point. I knew that there was some resistance at 3220 but the underlying trend looked bullish. The next day the price did go up around 30 points and then again, we got another bullish pin (two pinbars, surely a very positive sign) off the moving average. At this point I was expecting a huge move up but the following day we got a strong sell day.
My trade is still in and my stop is at 3115. I really don't know where
February 10, 2013
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[caption id="attachment_7654" align="alignnone" width="601"] 14th January 2013 - Gold Trade[/caption]
Earlier this week we sold Gold (those that followed my Tweets would have got this info in realtime). The reason for this was for a couple of reasons.. the underlying trend in the Daily charts as you can see had been down and there was a marked resistance line. One the day that I had shorted this, I could see that the price action had reacted to this line and was starting to move lower. Of cou
January 19, 2013
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