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WTI Crude Oil Trading

  • #7,821
  • Apr 28, 2020 12:37am Apr 28, 2020 12:37am
we got OI with options trading with strikes negative ...
Rule No.1: Never lose money. Rule No.2: Market is always right !
S&P 500 WTI/USD
  • #7,822
  • Apr 28, 2020 12:38am Apr 28, 2020 12:38am
last week position still hold
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don't predict direction, but dance with flow of water
  • #7,823
  • Apr 28, 2020 12:43am Apr 28, 2020 12:43am
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don't predict direction, but dance with flow of water
  • #7,824
  • Apr 28, 2020 4:45am Apr 28, 2020 4:45am
Any news backup this push up? I managed to get some pips 1 order still in play
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  • #7,825
  • Apr 28, 2020 5:22am Apr 28, 2020 5:22am
Quoting hocius
Any news backup this push up? I managed to get some pips 1 order still in play {image}
Not a clue, but managed to sell at the top and picking up a few cents on the way back down.
US OIL fund dumping all it's July futures in batches over the next few days - so the price goes up. Of course it does.
  • #7,826
  • Apr 28, 2020 5:23am Apr 28, 2020 5:23am
dont worry for the spike its normal to keep weak hands away
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  • #7,827
  • Apr 28, 2020 5:34am Apr 28, 2020 5:34am
Quoting Wightoil
{quote} Not a clue, but managed to sell at the top and picking up a few cents on the way back down. US OIL fund dumping all it's July futures in batches over the next few days - so the price goes up. Of course it does.
OIL fund dumping July futures? - do you mean June futures?
Why would a price go up if large fund makes a sale?
  • #7,828
  • Apr 28, 2020 5:35am Apr 28, 2020 5:35am
the spike is scary
  • #7,829
  • Apr 28, 2020 5:38am Apr 28, 2020 5:38am
Quoting Yogesh1981
dont worry for the spike its normal to keep weak hands away {image}
how do you use this data? you had a positive number of around +44k on 17 April, yet large selloff. You have negative -81k on 22 April, yet it went up quite a lot. Its either very lagging or i simply dont understand it. could you please elaborate?
  • #7,830
  • Apr 28, 2020 7:00am Apr 28, 2020 7:00am
Quoting tonny47
{quote} OIL fund dumping July futures? - do you mean June futures? Why would a price go up if large fund makes a sale?
Sorry, yes, June - fat fingers!

Bl**dy good question ! No idea why the price would go up - hence I shorted (almost) at the top of the spike.
  • #7,831
  • Apr 28, 2020 7:40am Apr 28, 2020 7:40am
Price will not came down again most of traders they roll contract for June July august September so those contract are long so no traders no contract to go short
  • #7,832
  • Apr 28, 2020 7:53am Apr 28, 2020 7:53am
Area being heavily defended by bulls. Lots of indecision. It may end up ranging here for a bit
  • #7,833
  • Apr 28, 2020 7:54am Apr 28, 2020 7:54am
Go short, what's that? Obviously no broker likes us to make money shorting oil. I just received this
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  • #7,834
  • Apr 28, 2020 7:57am Apr 28, 2020 7:57am
Quoting Enis
Price will not came down again most of traders they roll contract for June July august September so those contract are long so no traders no contract to go short
makes sense in a way but in order for price to go up, you still need buyers
  • #7,835
  • Apr 28, 2020 7:59am Apr 28, 2020 7:59am
Quoting Hutch
Go short, what's that? Obviously no broker likes us to make money shorting oil. I just received this {image}
woow, ok. i would assume that represents only a small number of brokers.

they are protecting themselves obviously.

my broker told me that their platform wasn't built to go into negative numbers and they have no idea what will happen to open positions if price goes below 0
  • #7,836
  • Apr 28, 2020 8:35am Apr 28, 2020 8:35am
28 April 2020


Following last weeks low, would like to see us break the most current swing high at that 12.60 handle and let that handle hold, respect that handle as support going forward to put some confidence in going long now, been buying some dips on this thing but cashing out whenever system throws sell signals... logic is this,

If it does get going, the rally will really pay out and if buy stops get taken out, well then the RR isnt all that bad, my issue is that despite the subtle hints at reversal, system keeps throwing sell signals....and similar to hutch my broker automatically closes the shorts as and when they are opened now....


Yikes
4&1 All Time Profit: $37,496
  • #7,837
  • Apr 28, 2020 9:23am Apr 28, 2020 9:23am
fwiw, just opened shorts on Brent & wti
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  • #7,838
  • Edited Apr 29, 2020 12:10am Apr 28, 2020 10:16am | Edited Apr 29, 2020 12:10am
According to my complex analysis with many backtests and real market trading... I can conclude that regarding the WTI I can state this...
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But I have approached the issue from another way... Will track the market that seems to "work" and will just observe the correlation, if there is any(more)

But seriously... Not the best week to trade due to many things.. (May Holidays), flirting (but not there yet) with EU lockdown removals... etc etc... I can say that this week is "learn not to trade" CHECKED [X], in my book. But I am confident that the horizon might appear next week when I will decide to either join the group slide or start buying by the day... Will see, soon.
Can you afford to take that chance?
  • #7,839
  • Apr 28, 2020 3:33pm Apr 28, 2020 3:33pm
Api

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persistence and determination alone are omnipotent
  • #7,840
  • Apr 28, 2020 4:28pm Apr 28, 2020 4:28pm
WTI made a few up/down moves today to settle with a $0.13 loss. Is $12 the bottom?
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