I always trade in crude intra

[palai0462]

also placing a sell at 4700 .. can't expect more from a trade with me merrily sleeping

 

[palai0462]

To some extent crude did follow the morning forecast .. but then it extended on both sides .. once it started up from 50s, i thought there is no more down till 4700 and kept the sl at 4642. got hit. unfortunately i was not present to trade further. so my loss for the day stand at 2+15 points. total for the week so far 34 points in red. the same way, it did come down from 7400 region to around 40 plus points .. but reversed and reversed like anything !!! .. again i was sleeping when the crude rallied... can't help it though .. .. am not worried . market doesn't go anywhere .. it was there yesterday .. was there today .. and will be there tomorrow too .. the thought of positional short needs to be revised as the daily didn't close below 4670

 

[palai0462]

good morning all .. crude may touch a minimum of 4860 in the morning trade i.e before 1330 hrs .. .. meanwhile, same as yesterday, i am back from night and got to go for duty tonight too .. so will sleep off eventually .. and thankfully don't have to go out today

 

[palai0462]

may fall from 4850 - 4860 levels .. looks like a chance

 

[palai0462]

touched 4860 .. .. now to the fall ???

 

[palai0462]

took a risk .. shorted at 4858 .. and going to sleep ..

 

[palai0462]

got up for lunch .. found that crude is in the same place with my stop saved just by 4 points .. wow ... hourly at 1400 hrs gave a sell signal .. hopefully it goes down ... and goes down BIG .. lol

 

[palai0462]

got up for lunch .. found that crude is in the same place with my stop saved just by 4 points .. wow ... hourly at 1400 hrs gave a sell signal .. hopefully it goes down ... and goes down BIG .. lol

sorry .. just noticed .. it was not the hourly which gave the sell .. its 30 minutes candle ..

 

[palai0462]

quit at 4868 .. 10 points loss

 

[palai0462]

So the loss for the week continues .. now stand at 44 points. On analyzing, found one important reason for losses. It is trying to guess the move of crude for the day before the market opens .. well, it serves no purpose . even though i say to myself that its just a guess, later on the day while trading, that 'guess' is sitting at the back of the mind making me less flexible, going against the trend and refusing to close the negative trades when it needs to be closed .. if I am an expert in guessing the moves and targets, it is fine .. unfortunately i am not and i should not be predicting the future move which is of no use and got to trade just the current moves ..