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WTI Crude Oil Trading

  • #6,621
  • Mar 9, 2020 11:50am Mar 9, 2020 11:50am
Inserted Video
persistence and determination alone are omnipotent
  • #6,622
  • Mar 9, 2020 11:53am Mar 9, 2020 11:53am
Quoting CnC1
I opened a "Sell Stop" trade on 6th March, 2020 on MT5 account (Price: 40.75, Stop Loss: 41.00, Take Profit: 40.25). Despite market opened at 32.43 on 9th March, 2020, my trading account shows a loss. I want to know what should be the outcome (profit) on this trade? Is it a profit from 40.75 to 32.43 or how is it calculated?. Sorry if it is off topic.
Talk to your broker. Is it a FCA regulated broker?
persistence and determination alone are omnipotent
  • #6,623
  • Mar 9, 2020 11:55am Mar 9, 2020 11:55am
Quoting CnC1
I opened a "Sell Stop" trade on 6th March, 2020 on MT5 account (Price: 40.75, Stop Loss: 41.00, Take Profit: 40.25). Despite market opened at 32.43 on 9th March, 2020, my trading account shows a loss. I want to know what should be the outcome (profit) on this trade? Is it a profit from 40.75 to 32.43 or how is it calculated?. Sorry if it is off topic.
your broker will open your order at the price the market opens at 32.43 not 40.75. stop orders never work for weekend gaps you have to be in from friday.
  • #6,624
  • Mar 9, 2020 12:06pm Mar 9, 2020 12:06pm
Quoting Ll1979
{quote} Talk to your broker. Is it a FCA regulated broker?
My broker is XM. I have emailed the matter to them but no response so far.
  • #6,625
  • Mar 9, 2020 12:09pm Mar 9, 2020 12:09pm
Quoting Kwame Freder
{quote} your broker will open your order at the price the market opens at 32.43 not 40.75. stop orders never work for weekend gaps you have to be in from friday.
Can you please elaborate what happens after opening at 32.43 as Stop Loss/Take Profit are no more relevant then how these are executed?. "History" section of my account is showing that Take Profit was hit but still a negative amount (loss) is added.
Attached Image (click to enlarge)
Click to Enlarge Name: Oil Trade from History (09_03_2020).png Size: 13 KB
  • #6,626
  • Mar 9, 2020 12:19pm Mar 9, 2020 12:19pm
Quoting CnC1
{quote} My broker is XM. I have emailed the matter to them but no response so far.
XM also have thread in the broker section:

https://www.forexfactory.com/showthread.php?t=287115
persistence and determination alone are omnipotent
  • #6,627
  • Mar 9, 2020 12:33pm Mar 9, 2020 12:33pm
Quoting CnC1
{quote} Can you please elaborate what happens after opening at 32.43 as Stop Loss/Take Profit are no more relevant then how these are executed?. "History" section of my account is showing that Take Profit was hit but still a negative amount (loss) is added. {image}
unfortunately since ur take profit was higher at 40.25, that would also be activated immediately upon opening at the current market price. not exactly sure what the difference would be between the price the trade opened and closed at
  • #6,628
  • Mar 9, 2020 12:42pm Mar 9, 2020 12:42pm
Quoting Kwame Freder
{quote} unfortunately since ur take profit was higher at 40.25, that would also be activated immediately upon opening at the current market price. not exactly sure what the difference would be between the price the trade opened and closed at
It is also interesting and pertinent to note that price never moved above 32.43 rather it moved down 32.37 (as per very first candle 1 Minute candle of 9th March, 2020). So being a sell entry, the price moved in selling direction so a profit should have been made but nothing as such reported rather a loss is added to the account.
  • #6,629
  • Mar 9, 2020 1:02pm Mar 9, 2020 1:02pm
Quoting CnC1
{quote} It is also interesting and pertinent to note that price never moved above 32.43 rather it moved down 32.37 (as per very first candle 1 Minute candle of 9th March, 2020). So being a sell entry, the price moved in selling direction so a profit should have been made but nothing as such reported rather a loss is added to the account.
I think in the grand scheme of things you should be happy that ur take profit kicked in and closed ur trade (even with a tiny loss). you could have gone on a wild ride into the red. you normally get a pull back right after a big gap open
  • #6,630
  • Mar 9, 2020 1:08pm Mar 9, 2020 1:08pm
Quoting Kwame Freder
{quote} I think in the grand scheme of things you should be happy that ur take profit kicked in and closed ur trade (even with a tiny loss). you could have gone on a wild ride into the red. you normally get a pull back right after a big gap open
Considering the small amount involved, I think it is clear that I'm more concerned with how MT5/Broker operates in these conditions to better understand/operate next time along with making sure Broker does not get a chance to act smart. However, I still feel if any kind member can elaborate the gap price execution mechanism then it will greatly help other members like me.

I'm also highly grateful for your kind guidance.
  • #6,631
  • Mar 9, 2020 6:30pm Mar 9, 2020 6:30pm
definitely TA over FA matters. But fr now FA strongly ride the oil market.
  • #6,632
  • Mar 9, 2020 11:58pm Mar 9, 2020 11:58pm
How did this big gap happened anyway? Was it mostly due to waiting orders getting filled in the first moments of trading of the new week, or some people can execute trades during the weekend?
  • #6,633
  • Mar 10, 2020 1:09am Mar 10, 2020 1:09am
Quoting CnC1
I opened a "Sell Stop" trade on 6th March, 2020 on MT5 account (Price: 40.75, Stop Loss: 41.00, Take Profit: 40.25). Despite market opened at 32.43 on 9th March, 2020, my trading account shows a loss. I want to know what should be the outcome (profit) on this trade? Is it a profit from 40.75 to 32.43 or how is it calculated?. Sorry if it is off topic.
Same thing happened to me. My Broker is Oanda. Found out I should have set an Upper or Lower Bounds price and it would only open trade in that range. Would have saved me a lot of money as it opened sell order at lowest price and then rebounded upward with margin call in few minutes. Stupid mistake.
  • #6,634
  • Mar 10, 2020 1:34am Mar 10, 2020 1:34am
10 March 2020

still maintain oil at current prices becomes a buy, have continued taking some buy dips and trailing as and when the trade moves into profit, although the buy dips are counter trend, lower timeframes are beginning to print reversal patterns as such will be looking to load Longs towards the 41.7 handle as the current m15 chart showing an inverse HnS pattern towards that handle...looking to see if the 31.5 handle can act as a right shoulder to load more longs from the about with hard stops around the $20 mark....



Green Pips
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  • #6,635
  • Mar 10, 2020 1:52am Mar 10, 2020 1:52am
I am selling 33/34 area targeting lower prices.
Rule No.1: Never lose money. Rule No.2: Market is always right !
S&P 500 WTI/USD
  • #6,636
  • Mar 10, 2020 2:27am Mar 10, 2020 2:27am
Quoting sponge
Quarterly view ....still puzzled with the volume are they loading up or dumping ? {image} {image}
I think past volume was predicting this fall, no smoke without fire

Here's yesterdays chart, I think we could be looking to close the gap soon but might be too early with all this virus news.

Just a wee bit of good news
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All charts/ideas based on UK time zone
  • #6,637
  • Mar 10, 2020 3:36am Mar 10, 2020 3:36am
Attached Image (click to enlarge)
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yes yes yes
  • #6,638
  • Mar 10, 2020 3:38am Mar 10, 2020 3:38am
this gap will be close.
it can take a while
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yes yes yes
  • #6,639
  • Mar 10, 2020 5:10am Mar 10, 2020 5:10am
Lots of In the Money (ITM) Call options being bought and ITM Puts being closed off in the options market. So looks like they aree bullish Oil in the options market. Volume in the ITM options are directional as opposed to deep OTM Puts and Calls which are used for gamma hedging.

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Boxing clever since 76.
  • #6,640
  • Mar 10, 2020 5:40am Mar 10, 2020 5:40am
Quoting copi88
Lots of In the Money (ITM) Call options being bought and ITM Puts being closed off in the options market. So looks like they aree bullish Oil in the options market. Volume in the ITM options are directional as opposed to deep OTM Puts and Calls which are used for gamma hedging. {image}
Looks like a pinbar on the Daily, whats is the yellow line at 33.5 price?
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