WTI @ 67.50, charts show $62.50 next

[NickW + 2,714]

9 minutes ago, Top Oil Trader said:

Wow what is al lthe discussion about solar panels. Solar Panels is a dinosaur already, one day you will be able paste a film on your window, for solar power. ok it's not that powerful yet, but so was wifi not powerful when it first came out. Solar Windows. Right now it cost an  average of 40k for roof solar panels, which to me is a fad and a big waste of time and money, and looks horrible, wait for solar windows.

Go to page 7. In my response to Jans Oil (from tar sands) to electricity proposal I described this as the energy equivalent of turning gold into lead at current prices. The Counter battery consisted of a load of blather about Ontarios roof top solar etc etc etc and perceived misuse of funds etc etc etc.......

[ATK + 355]

As fun as solar is.... does anyone want to talk about oil at all?

Actually I might just start a new thread

Edited August 21, 2018 by ATK

[Top Oil Trader + 469]

ATK, you got a good point. I don't want to disrespect other peoples interest, but solar, and wind power is trying to cut into the oil energies, I think it does have a relevance to oil, just like the batteries. But ATK i hear your point. Besides there is not much to say about oil, we have the news, we know they don't want the prices to fall, they are trying hard to keep it up, and not fall above 60. Me, I don't think they could succeed. but OHECK what do i know.

[Dan Warnick + 6,100]

27 minutes ago, Top Oil Trader said:

Wow what is al lthe discussion about solar panels. Solar Panels is a dinosaur already, one day you will be able paste a film on your window, for solar power. ok it's not that powerful yet, but so was wifi not powerful when it first came out. Solar Windows. Right now it cost an  average of 40k for roof solar panels, which to me is a fad and a big waste of time and money, and looks horrible, wait for solar windows.

The market will take care of which technology we end up with.  Governments subsidizing things is a nice idea, when there is no other choice and all people must have the (whatever), but forcing old tried and (economically) failed technology on the public has and is proven NOT to work.  Does anyone NOT want solar power?  Wind power?  Water currents power?  I think the answer is no, but I may be wrong, some people just like to oppose anything you say.  And that is their right, the same as it is their right to buy what they want with money they earn (or inherit, the baxxxrds!).

[Top Oil Trader + 469]

Dan, I have 3 words. U de man. Maybe that is 2 and a half words.

[NickW + 2,714]

11 minutes ago, ATK said:

As fun as solar is.... does anyone want to talk about oil at all?

Actually I might just start a new thread

What do you think of the proposal to send Canada's oil to be burnt in converted Coal Fired power stations? 

That would nudge WTI up a few dollars wouldn't it?

[Dan Warnick + 6,100]

16 minutes ago, ATK said:

As fun as solar is.... does anyone want to talk about oil at all?

Actually I might just start a new thread

We had to talk about something while WTI made a mini-moonshot and came back to earth.  Up .38 cents on the day, according to OilPrice.com.  What a ride!

Edited August 21, 2018 by Dan Warnick
Add reference.

[Top Oil Trader + 469]

Look canada, venezuella, south africa 0 impact on oil. Norway nada. The big one, is OPEC, and HECK maybe Iran. They sneeze we run to the gas pump to fill up.

Edited August 21, 2018 by Top Oil Trader

[Dan Warnick + 6,100]

2 minutes ago, Top Oil Trader said:

Look canada, venezuella, south africa 0 impact on oil. Norway nada. The big one, is OPEC, and HECK maybe Iran. Those 2 are the key, the sneeze we run.

Nah, one day it was "Transformer Blown In Canada!".  It's all up to the ringleader, or is it the Wizard?  What's behind those green curtains over there, Toto?

[Dan Warnick + 6,100]

BTW, I never did see the headline to let us all know Canada replaced the transformer and we could all get back to our lives.  Nothing to see here, people, move along.

[Top Oil Trader + 469]

Just looked at chart, you can see they are trying hard to bring WTI up, maybe you got to step aside, you don't want to get hit by an oil rig. Now if they can bring it above 68.6 they stand a chance, but they  will need to pump a lot of negative news articles about shortages, sanctions, a bad frost comming, oil turning from black to pink, or..., and some other news.

[ATK + 355]

Trying to see API report to get somewhat of an idea of the general consensus tomorrow, but can't find it just yet

[ATK + 355]

2 hours ago, ATK said:

Trying to see API report to get somewhat of an idea of the general consensus tomorrow, but can't find it just yet

Well my puts are screwed, API estimated a weekly draw of 5.18 million barrel's

Def not seeing 62.5 this week.

Pretty much lost the majority of my gains from last week

Ugg I should of known, don't rely on anything in the short term that isn't a crude inventry report

Edited August 21, 2018 by ATK

[ATK + 355]

Crickets

[ATK + 355]

How do we go from one of the weakest EIA reports to one of the largest draws since July in just one weeks time?

I'm still not hopeful, but API is typically wrong 33%

[Dan Warnick + 6,100]

9 hours ago, Top Oil Trader said:

Sometimes emotions takes over logic, exactly what happened to me. This is why i had to create programs,  one of the 7 programs to fire the one that only trades the eur,  was a long in eur 160 points (pips ago), now I kept saying close the position, and no, it kept going up and up, and still is open, Programs prevents you from using your emotions which clog up the logic, which it did when i took that short, about 40 pips ago, since logic would have told me to  wait for a better entry, even though the eur looks very weak. But at this I just need to wait since this is a great place to short too.

From what I'm hearing, the dollar got hit because of Trump's further comments about Federal Reserve actions, and the announcements of his personal lawyer (Cohen) copping a plea with prosecutors, and his campaign manager (Paul Manafort) being convicted of fraud and tax cheats.  If the effects of these developments are true, I think you can be excused for not being able to see these factors coming and affecting the forex the way they did.  Just this once!  😉

[Top Oil Trader + 469]

Well i did see a setup that the eu was going down, it should have gone down. But i also had other things on same chart that told me to wait, so all i had to do was listen to the chart and not jump on first indication that is was going down, i saw it go down 20 points and since i saw a good setup I thought it took the bait, so the trade i saw was a 20p short that ended and reversed long. Those are hard, since u figure well its going down and there is a reason, then it stops, and the chart tells you, ey dude its going up, and u say, what? why, why u stop going down, and it just goes up. So the reversals are the hard ones, since you just got comfy it going down, your ego went to your head, and then puff, happens daily. Something I have to control, and be prepared to reverse when i see the fake. I got faked.

[Top Oil Trader + 469]

The fakeout trade is the one little thing I am trying to master, it exists and it fast and ruthless and if you prepared you mind can catch it as it happens, but if you are not your emotions take over and you dont go with the flow. Fake is the hardest trade, and its where they get you, if you don't know how the fake gets played out.

[Top Oil Trader + 469]

But i am not worried i had 3 sets of  trades, first  was 25p profit, next was 92p profit this one now in 50p open trade loss, and not worried since i know eu will go down

[Dan Warnick + 6,100]

Just now, Top Oil Trader said:

The fakeout trade is the one little thing I am trying to master, it exists and it fast and ruthless and if you prepared you mind can catch it as it happens, but if you are not your emotions take over and you dont go with the flow. Fake is the hardest trade, and its where they get you, if you don't know how the fake gets played out.

Basic American football!

[Top Oil Trader + 469]

But all weekend and this week trying to create some automated sys. Now the eur sys i created was long the eu a 1.14 and still is long, i was long too but  got out at 1.15xx and then went short as i  thought it was breaking that exit poiint i had.  Most hedgefunds use systems, they dont use their brain and watch the market for every tick. Trying to do the same.

[Top Oil Trader + 469]

So here i am running my system on the pound yen ok

will do the following, using a 10k account.trading 1 lot, so 10x1 margin not large, here are the results

 

[Top Oil Trader + 469]

https://postimg.cc/image/eaqpefr7x/ so this is based on 10k acct trading 1 lot

[Dan Warnick + 6,100]

3 minutes ago, Top Oil Trader said:

https://postimg.cc/image/eaqpefr7x/ so this is based on 10k acct trading 1 lot

Explain?

[Top Oil Trader + 469]

so its as simple as finding your best systems, put them together create about 4 signals that kick off short and long differenet time frames, and you hope based on heaving tested and probability that you will end with a profit.