Posts Tagged trading crude oil
I finally closed my Crude Oil long today and made a nice 120+ points.... a good trade but it was also a fascinating experience for me with regards to my trading emotions.
I mentioned that it was a premature entry which I had made on the 25th October - exactly a week ago. I was overconfident due to a pretty good week trading and put on my crude oil long at 8600. I hadn't waited for a confirmation for my entry so psychologically wise, I wasn't best pleased with myself. However, I had committed
November 1, 2012
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Pinbars show signs of strong buying or selling and they are great indicators to enter a market. The safest time to use them as trading signals is with the trend and when the market is experiencing a pullback. An entry with your stop at the bottom of the pin should do it.. then just ride it as far as you can.
There were quite a few opportunities this week and one of my weaknesses in trading is that I am unable to have more than a couple of open trades. As a result this week, I missed a couple
October 19, 2012
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Another interesting chart I have is the daily Crude Oil price. You can see that there is strong resistance and the market has failed to get beyond this point. This could be a potential selling opportunity. The only thing about Crude is that it is very volatile and you need to be very careful with it.
The market is currently closed but when it opens I'll see what the market looks like and may even short it...
Will keep you updated!
August 9, 2012
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