It's decision time. Am I willing to make my FIRST loss in oil? Or do I let my ego prevail? (Actually, I still think that oil will come down in the coming days + I am in an enviable position to absorb a hit + the market is closing for the week anyway...so why sell today).
In my few months here, I've NEVER seen SO many people call out for your opinion as today. Shows how volatile the market is. I'm counting at least four members 'under water', crying for your help. Hope you had a productive day...
Five people will tell you five different things! Whom will you follow? Suggest you decrease your positions as the market could well explode from here (although, oil is struggling to go beyond 78). n the coming days, oil should be around 75, so 78 should be your first short.
What's your risk management like? Make good use of stops and if possible, diversify w/ one of the indices - Dow or Nikkei (I use the latter).
You're my oldest trading partner - WHY would I ever doubt you? :) My fault. I should've realised that you were talking about the Dec contract - I was talking about the Nov contract. See! This market has made two partners - you & me - fight! This is what Goldman Sachs can do!
I hope you recover w/ the Yen. This is why I always diversify. Like I'm currently taking a hit in oil but MORE than covered that w/ a rise in the Nikkei. To be honest, Nikkei has saved me on MORE than five occasions. It is a VERY good risk management tool... :p
I agree w/ you. USD is a bargain this day, and any days it falls further, of the year! If I was trading currencies...I would do the same what I do w/ oil - get on the wave full throttle (long in this case). The fact that equities are facing a sell-off further adds to this.
Vik, I figured out this morning that capital was changing commodities - gold to oil (& USD was momentarily strong this morning). Another sign that USD is about to rebound.
Pipster, trust your gut. Oil MAY be on its way to 80+...but when USD starts to gain strength, equities sell off, then oil will be coming down. If you can hold onto your position for a few days, why not?
Try publishing this in the UK weekend papers: Traders bet BankofEngland will raise rates to 6.25% --highest since 1… https://t.co/GWXrTEAk4R(1 year ago)
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ما وراء هبوط الدولار مع الذهب و من منهما يتمكن الارتداد؟
موعدنا الآن في غرفة شركة إكس أم لجلسة الأسواق
https://t.co/Y7tD0RxCS2
@XM_COM (1 year ago)
Jobless claims > 300k before next FOMC meeting would be ideal for Fed to make up for any CPI upside surprise (1 year ago)
"Cook & Eat at Home" scheme may come next to defeat UK inflation... (1 year ago)
Earlier in the week gold selloff was attributed to smaller than exp China EASING. Metal is now holding v well despi… https://t.co/ZW9cmXTPWW(1 year ago)
It's decision time. Am I willing to make my FIRST loss in oil? Or do I let my ego prevail? (Actually, I still think that oil will come down in the coming days + I am in an enviable position to absorb a hit + the market is closing for the week anyway...so why sell today).
Monday WILL be VERY interesting...
Asad
In my few months here, I've NEVER seen SO many people call out for your opinion as today. Shows how volatile the market is. I'm counting at least four members 'under water', crying for your help. Hope you had a productive day...
Asad
Five people will tell you five different things! Whom will you follow? Suggest you decrease your positions as the market could well explode from here (although, oil is struggling to go beyond 78). n the coming days, oil should be around 75, so 78 should be your first short.
What's your risk management like? Make good use of stops and if possible, diversify w/ one of the indices - Dow or Nikkei (I use the latter).
Asad
You're my oldest trading partner - WHY would I ever doubt you? :) My fault. I should've realised that you were talking about the Dec contract - I was talking about the Nov contract. See! This market has made two partners - you & me - fight! This is what Goldman Sachs can do!
I hope you recover w/ the Yen. This is why I always diversify. Like I'm currently taking a hit in oil but MORE than covered that w/ a rise in the Nikkei. To be honest, Nikkei has saved me on MORE than five occasions. It is a VERY good risk management tool... :p
Asad
What...?
WTI's highest for the day is 77.97 - it hasn't yet breached 78. What market are you trading on? :)
Oil, technically, looks strong...but am not really sure it is the same on the fundamental side...
Asad
I agree w/ you. USD is a bargain this day, and any days it falls further, of the year! If I was trading currencies...I would do the same what I do w/ oil - get on the wave full throttle (long in this case). The fact that equities are facing a sell-off further adds to this.
Vik, I figured out this morning that capital was changing commodities - gold to oil (& USD was momentarily strong this morning). Another sign that USD is about to rebound.
Pipster, trust your gut. Oil MAY be on its way to 80+...but when USD starts to gain strength, equities sell off, then oil will be coming down. If you can hold onto your position for a few days, why not?
Asad
I'm in. And not only thinking...I'm actually doing it! Your first profit-taking opportunity will be anywhere below 75...
Asad
Asad
It'll be really funny if oil reaches 80 by the weekend. You'll be laughing at me... :p