Posts Tagged trading oil
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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I'm making some changes on the blog... I'll post live updates on my Twitter feed, for those who would like to follow, the address is http://www.twitter.com/makemoneyalan and then I'll post afterthoughts on the blog to talk about why I entered the trade and analysis.
So for those that did follow my Twitter account, you would have read that I went long on the Crude Oil (January) contract at a price of 8769 on the 21st November, taking my entry from the Daily chart which looks like this:
November 24, 2012
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Here's the daily chart of Crude Oil.. I actually saw the opportunity to trade it but didn't get a chance to enter until the following morning. The entry I was looking for was 8600 and I got it. From the Daily chart, you don't really see why I entered, the only clue here is that you can see the the price action seems to have stopped moving down and has just floated between 8500 and 8600 for a good few weeks.
Anyway, if you look at the 2 hour charts, this is what you see:
You can see
November 16, 2012
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