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WTI Crude Oil Trading

  • #7,061
  • Apr 9, 2020 5:35am Apr 9, 2020 5:35am
Quoting patient pip
Hi guys, I went through couple of pages of this thread, nice going indeed. I like it. I trade CL as well. Intraday allows me to have good sleep every day. This could be helpful for those who struggle or want to improve //or for lurkers who just learn here quietly here, as I often did myself for years //. No harm to check jimb2468 on twit. It is not me to mind you. His feed speaks for itself. Never fight the tape and momentum is our friend with very tight risk. cheers to all
Welcome!
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persistence and determination alone are omnipotent
  • #7,062
  • Apr 9, 2020 8:10am Apr 9, 2020 8:10am
WTI is erratic and volatile today, very hard to trade, very hard to make money, but very easy to lose a bunch in the blink of an eye. Trade smaller than usual and take ur profits if u do decide to trade
  • #7,063
  • Apr 9, 2020 8:16am Apr 9, 2020 8:16am
Quoting Kwame Freder
WTI is erratic and volatile today, very hard to trade, very hard to make money, but very easy to lose a bunch in the blink of an eye. Trade smaller than usual and take ur profits if u do decide to trade
I concur Basically it is the last day of trading (of this week or before Easter) and really wonder about the possible buildup during the holidays, specially if they announce something during the Holidays or even tomorrow when OIL market trading will be closed... Would still bet on the BUY tough, for now at least.
Can you afford to take that chance?
  • #7,064
  • Apr 9, 2020 8:22am Apr 9, 2020 8:22am
Quoting auricforecas
{quote} I concur Basically it is the last day of trading (of this week or before Easter) and really wonder about the possible buildup during the holidays, specially if they announce something during the Holidays or even tomorrow when OIL market trading will be closed... Would still bet on the BUY tough, for now at least.
for sure I think they will wait until markets are closed to make a big announcement. It’s how they operate. Too risky for me though, any shortfall in cuts and it could open at $15 on Tuesday, I’ll wait till the dust settles
  • #7,065
  • Apr 9, 2020 8:25am Apr 9, 2020 8:25am
Quoting Kwame Freder
{quote} for sure I think they will wait until markets are closed to make a big announcement. It’s how they operate. Too risky for me though, any shortfall in cuts and it could open at $15 on Tuesday, I’ll wait till the dust settles
Yeah, most likely, fellow trader just posted that his broker informed him about heavily reduced leverage options (for different size positions, it goes down to 1:1 even) for ENERGY... So they know/speculate what's coming, massive buildup during market close and heavy party just after it opens again . Considering the parties involved, there will most probably be a radical decision, just not sure for which side Would bet on the BUY tough... Still, closed my positions before Easter, because had enough surprises already So waiting is atm.
Can you afford to take that chance?
  • #7,066
  • Apr 9, 2020 9:30am Apr 9, 2020 9:30am
apparently they are to discuss oil cuts as big as 20 mil bpd. it would be really surprised if they didnt agree to cut of at least 10 mil bpd. question is what will be the baseline date for the cut
  • #7,067
  • Apr 9, 2020 9:47am Apr 9, 2020 9:47am
Quoting tonny47
apparently they are to discuss oil cuts as big as 20 mil bpd. it would be really surprised if they didnt agree to cut of at least 10 mil bpd. question is what will be the baseline date for the cut
Correct most storage facilities are running out of space. I guess everybody will cut organically soon
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  • #7,068
  • Apr 9, 2020 9:51am Apr 9, 2020 9:51am
Quoting Ll1979
{quote} Correct most storage facilities are running out of space. I guess everybody will cut organically soon {image}
seems like everyone is sitting on their hands until they hear some official cut commitment. Price currently at $26.90 - thought it would be higher by now
  • #7,069
  • Apr 9, 2020 10:09am Apr 9, 2020 10:09am
So far it seems deal is around 10 mm for OPEC still need to hear a final number. If the cuts are not enough watch out for a massive drop
  • #7,070
  • Apr 9, 2020 10:18am Apr 9, 2020 10:18am
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  • #7,071
  • Apr 9, 2020 10:46am Apr 9, 2020 10:46am
Interesting. On Long Postion.
  • #7,072
  • Apr 9, 2020 10:54am Apr 9, 2020 10:54am
managed to get a long in at 25.20. doubt it will survive
  • #7,073
  • Apr 9, 2020 10:55am Apr 9, 2020 10:55am
Quoting Kwame Freder
managed to get a long in at 25.20. doubt it will survive
keep raising that SL
persistence and determination alone are omnipotent
  • #7,074
  • Apr 9, 2020 11:02am Apr 9, 2020 11:02am
already out. sniped a 50 quick in and out. couldn't resist trading the low
  • #7,075
  • Apr 9, 2020 11:05am Apr 9, 2020 11:05am
Iraqi oil min. Ghadhban: It's necessary to determine oil cuts limit, the timeline and the start date of applying the measures and distributing shares fairly and equally.
  • #7,076
  • Apr 9, 2020 11:09am Apr 9, 2020 11:09am
Quoting Ll1979
{image}
Seems like that the market is already responding. I myself will wait for the Easter (to pass), just in case of a(n) (additional) surprise(s)
Can you afford to take that chance?
  • #7,077
  • Apr 9, 2020 11:14am Apr 9, 2020 11:14am
Quoting auricforecas
{quote} Seems like that the market is already responding. I myself will wait for the Easter (to pass), just in case of a(n) (additional) surprise(s)
Me 2 but i might scalp.

Headlines keep changing
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persistence and determination alone are omnipotent
  • #7,078
  • Apr 9, 2020 11:23am Apr 9, 2020 11:23am
Looking for long term cuts
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  • #7,079
  • Apr 9, 2020 11:23am Apr 9, 2020 11:23am
Quoting Ll1979
{quote} Me 2 but i might scalp. Headlines keep changing {image}
Until Putin/Saudi/Trump makes a more definite statement/tweet position, much prefer chasing rabbits through the easter than to gamble with what this (radical - they basically do on/off only, no grey area) parties might come up with I believe it is in each others interest to drive the price higher but in short term they might try the "show me yours" standoff All parties are known to be able to do that (come at me bro)... Basically US might try with superpower status... RU might try with "starve us with you can - we are used of tough times", but Saudis might suffer the most since OIL is their (high)LIFE.
Can you afford to take that chance?
  • #7,080
  • Apr 9, 2020 11:30am Apr 9, 2020 11:30am
Quoting auricforecas
{quote} Until Putin/Saudi/Trump makes a more definite statement/tweet position, much prefer chasing rabbits through the easter than to gamble with what this (radical) parties might come up with I believe it is in each others interest to driver the price higher but in short term they might try the "show me yours" standoff
They want higher price but not to high I guess they want to stall else they would've started in April. Flooding every storage facility and then cutting turns into "organic cutting" showing their will avoiding tariffs and keeping US military support.
persistence and determination alone are omnipotent
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