Posts Tagged trading oil

Another Short Term Scalp – Crude Oil

Another Short Term Scalp - Crude Oil

    Obviously not content with my paltry 6 pips from my EURUSD scalp, I thought I'd try my luck with a more volatile beast, the Crude Oil futures. The trade was a very simple on and off support at 9865. You can't see it from the 5 minute chart but the support line was actually last weeks highest point. I expected a bounce from here so took the long trade and got out with 39 points. The market soon collapse after this and if I had taken a short, I would have been laughing.. as

November 28, 2011 No Comments Full Story

Trading – Back to Basics

Trading - Back to Basics

There are many times in a traders career where he or she will get to a point where they realise that they are using all sorts of complex and elaborate systems to get in and out of trades only to find that nothing is working or that it takes too much time and effort to do all the analysis. Having too much knowledge and expertise is not necessarily a good thing in trading, one can get something called 'analysis paralysis' where you just confuse yourself with all the knowledge you have and end up d

November 7, 2011 No Comments Full Story

Beware of a Trading tip

Beware of a Trading tip

What I mean by this is people who give you a tip to buy or sell something. It may work out  (afterall, there's a 50% chance it will go up or down so there's half a chance you may make money) but in the long term you will lose money! Why do I say this? I say this because as a trader or investor you need to be responsible for your own trading decisions. Should you lose, it's too easy to blame someone else for the loss. Psychologically, you've given yourself a way out and not taken responsibili

October 28, 2011 1 Comment Full Story

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