Crude Oil Trading

[Silentshadow]

Yeah.:annoyed: Today its been good for bollinger traders.... .

There is too much randomness in commodities. I mean the wicks are too large crossing the support/resistance region then coming back and then again crossing the support/resistance region again in the very next bar.
Are you guys able to trade it profitably?

 

[amitagg]

There is too much randomness in commodities. I mean the wicks are too large crossing the support/resistance region then coming back and then again crossing the support/resistance region again in the very next bar.
Are you guys able to trade it profitably?

Yes wait for one or two more days action and let give go some profits in a trend

... No problem... Just like crude ( even yesterday pierces 2820 resistance) .... Today gaps down

 

[headstrong007]

@vagar11

In general, U can't trade Crude using news flow..U'll be fooled most of times..
See after Sunday meeting failed all were bearish. what crude did after gap down.. a gap filling day.. further up.. trapped shorters.. finally another useless news came strike in Kuwet. So price was up ..Next day Today again gap down..

Also u'll be fooled by gap against most of time due to overnight action..

ONLY THING THAT CAN SAVE US IS TRADING INTRADAY FROM CHART. 3m-10m-30m.
Only thing is our control is 5pm-10pm market(no control overnight action). Avoid trading Wed day inventory data time, can hit SL both way.. IMO.

Any successful swing trader, inventory data trader can continue..when a system is working for U.. make it as a habit..

 

[vagar11]

Yes wait for one or two more days action and let give go some profits in a trend

... No problem... Just like crude ( even yesterday pierces 2820 resistance) .... Today gaps down

Aggarwal Ji,
Do you keep positions overnight ?
Such large gaps in crude.

 

[nirav_j]

I had a brain fart moment last night.

Shorted one lot when Crude was at 42.30.
to my horror i didnt find the instrument in MKT watch today morning when Crude was at ~ 41.30

Then it struck, yest was expiry !

Luckily, since its futures, theres no Delivery issues.

Called up MCX in the morning and spoke to the clearing & settlement guy. He informed that the one outstanding lot will get settled at some 'DVR' rate ..

Broker confirmed later that it was squared @ 2739. Short was at 2730 ..

Loss of 900 only .. :clap:

posting this as a reality check .. one must be aware at all times wrt the contract being traded. No place for mistakes.

 

[vijkris]

I had a brain fart moment last night.

Shorted one lot when Crude was at 42.30.
to my horror i didnt find the instrument in MKT watch today morning when Crude was at ~ 41.30

Then it struck, yest was expiry !

Luckily, since its futures, theres no Delivery issues.

Called up MCX in the morning and spoke to the clearing & settlement guy. He informed that the one outstanding lot will get settled at some 'DVR' rate ..

Broker confirmed later that it was squared @ 2739. Short was at 2730 ..

Loss of 900 only .. :clap:

posting this as a reality check .. one must be aware at all times wrt the contract being traded. No place for mistakes.

even experienced ppl like u made mistake.

 

[nirav_j]

They say '**** happens' ..

Happened to me twice. Once today again, while order punching.

wanted to long @2767 5 Qty with a SL of 2761

Filled up SL and QTY details with super speed as usual and punched enter.

Next thing i see trade size was 51 Qty
and order fill value was 2768

Exited at 2772.8 immediately. It ran up to 2780 !

Logged out of terminal for good atleast for today ..

Alls well that ends well !

 

[headstrong007]

They say '**** happens' ..

Happened to me twice. Once today again, while order punching.

wanted to long @2767 5 Qty with a SL of 2761

Filled up SL and QTY details with super speed as usual and punched enter.

Next thing i see trade size was 51 Qty
and order fill value was 2768

Exited at 2772.8 immediately. It ran up to 2780 !

Logged out of terminal for good atleast for today ..

Alls well that ends well !

U hv missed the opportunity given by the God.

 

[arsh22g]

Confusing Crude as of now. E(3,13,33) very close to each other, rapid move is coming soon.

 

[arsh22g]

Entered swing long @2795, SL @2748....let's see:thumb: