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Quatar leaves OPEC

JJ

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There has been lots of rift between the Saudis and Qatar, for quite some time. Saudi Arabia is accusing Qatar of financing terrorism. The Saudis are trying to give Qatar lots of problems, and Qatar fought back, by damaging OPEC and leaving. This will be the beginning of the unraveling of OPEC as I predict more nations to leave OPEC. This will also give OPEC less control of oil prices. Therefore any production cuts from OPEC in the future could soon become meaningless.

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We believe OPEC will not be able to create a meaningful deal this week, to force OPEC nations to cut productions. Or that some nations will not fully or disagree with OPEC's production cuts.

In the future we think Russia will not respect Saudis wishes.

Iran too in the future may threaten to leave OPEC.

Either of the above scenarios will be devastating blow to OPECs ability to cut production. 

Edited by Top Oil Trader

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Today oil will attempt to move higher due to the potential of an opec agreement by member nations to cut production. We see prices not being able to rise above Tuesdays highs, and therefore eventually will start heading down towards the 40s again, and eventually hitting the low 40s.

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By Thursday we will know the outcome of the OPEC Meeting. Regardless, today, crude price will start drifting lower, ahead of the bad outcome of tomorrows news. By Friday after the news has been well digested and the ramifications will be understood by all, Crude WTI will already have touched 49.

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So, you're saying prices won't touch yesterday's high and will start drifting down towards 50 today itself ?

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6 hours ago, Top Oil Trader said:

Today oil will attempt to move higher due to the potential of an opec agreement by member nations to cut production. 

 

3 hours ago, Top Oil Trader said:

By Thursday we will know the outcome of the OPEC Meeting. Regardless, today, crude price will start drifting lower, ahead of the bad outcome of tomorrows news. 

@Top Oil Trader still see you are really struggling with your trades and picking a position. I mean you completely contradicted yourself with both of these statements. Maybe take a break? Crude is tough to trade, give it time and I'm sure you'll get the hang of it. Maybe follow @catch22 and learn some tricks?

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Lots of people have been trying to help me with my trades since they claim im struggling, and although i dont like to show off, but to set these people straight and put them at ease i will post my current trade and see how it progresses during the day.crude.jpg.2f8785c52d6f29615e553f5b0c98b2b7.jpg

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in trading crude 2 elements are necessary.

1] Belief in your system, and not worrying about it, no matter what.

2] Patience

 

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When you open 1 position, how many barrels you buy/sell ? I guess 1000. I recently started trading 1k barrels, it is fast money but risky if you go wrong.

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1 hour ago, Top Oil Trader said:

Lots of people have been trying to help me with my trades since they claim im struggling, and although i dont like to show off, but to set these people straight and put them at ease i will post my current trade and see how it progresses during the day.crude.jpg.2f8785c52d6f29615e553f5b0c98b2b7.jpg

I see you figured out how to use the snip tool! Care to post your short from $54.40 that you said you took yesterday? I'm surprised your not showing off that bad boy considering crude is at $53.0x right now.

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im just posting this current trade, this will be the last trade i will post, i dont have to much time for this

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sU

(edited)

.

Edited by A/Plague

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38 minutes ago, Top Oil Trader said:

im just posting this current trade, this will be the last trade i will post, i dont have to much time for this

Well the very least you should post a screen shot when you actually close your trade!

Too many people get greedy and hold to long only to watch what once was a winning position, turn into a losing one.

Show these "experts" how it's done and post those gains when you close these bad boys! They will wish they had your system when they see your final net gain after you close it.

Edited by GeoPolitics
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30 minutes ago, Top Oil Trader said:

im just posting this current trade, this will be the last trade i will post, i dont have to much time for this

Well looking at your time between comments, it took you maybe 7 minutes or so to post 2 separate screen shots.

Maybe you just arent tech savy (I have no idea how old everyone is here so you could very well be a senior citizen) My ten year old niece has a good online resource that teaches people basic computer skills (often she helps out her grand papa), I can get the link if you want?

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Just realized though its a profitable trade, this wasnt a good trade. Tomorrow will be another day.

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