WTI now @50.60 headed for $41 - $34

[White_Dragon + 4]

Guys, who is your broker?

[A/Plague + 50]

 

Edited December 23, 2018 by A/Plague

[aakash kapoor + 16]

On 12/19/2018 at 3:40 AM, A/Plague said:

I think that I answered your question fairly accurately? if you had time to read

I think i asked that question pretty early

[A/Plague + 50]

On 12/19/2018 at 9:37 PM, aakash kapoor said:

I think i asked that question pretty early

you asked in time ...

Edited December 23, 2018 by A/Plague

[aakash kapoor + 16]

9 minutes ago, A/Plague said:

you asked in time ... but I didn’t see the whole picture, it happens ... but it shouldn’t cause any damage

Yep true, move just started. Tough to anticipate but are we going back to 46 today ?

Edited December 19, 2018 by aakash kapoor

[Top Oil Trader + 469]

After having some very wild weeks in crude, haveing traded upto 10 contracts at 1 time, that is controlling 10k barrels. And i didnt lose on that trade. Since a $1 move against me would have been 10k. but in the larger trades i scaled in starting with 1.

Anyways to trade multiple contracts being away from screen for 1 hour, 15 min could make you tons or lose you tons in case of reversal. So its lots of pressure and in truth a waste of time in daytading, now in swing trading holding multiples are much easier to do, less risk.

Now but i will be in daytrading for now for a bit longer, this was a great experience in the lowest levels of trading, and it will give me a good basis for when i will go much larger, i have seen the algos at work and know how to recognize them.

But for the time being the way i look at day trading is as follows, right now if i work as computer guy, i make 200 a day, so in daytrading if i can make 500 - 2k day doing nothing, with hardly any risk, why not. And then eventually try to go for the big times. 

Here is nother thing, for a track record going 6 - 10  lots not good, since u will have losses and it wont be pretty, and wil scare potential investors away, they would rather see 10% retuns a months slowly than seeing big swings. So for now will tone down my life on adrenalin and take it easy and for example today i started late, but on just 1 contract i am up 360 and it was a no brainer. If i close here most would be happy, but i know better, so will stay.

[Top Oil Trader + 469]

Support 3 is at 42 today, my target.

[A/Plague + 50]

12 hours ago, Top Oil Trader said:

Support 3 is at 42 today, my target.

It is unlikely .. by the way, one of the site participants once very accurately named the target .. After he voiced it, I also saw it, but did not think that we would fall so quickly to it. My respect to him

[Top Oil Trader + 469]

given u guys so many targets that all came true since 76. that was $30 ago. The question you need to ask though is this, is $42 his last target?

[Top Oil Trader + 469]

but though i know that crude will still be crashing and it has (its seems im like the only one who says so, or been saying that for 3 months +), but dont mind i wont go long today, sometimes the moves are a bit overdone

[Top Oil Trader + 469]

indeed strong chance of reversal here. problem with these reversals sometimes they only last $1 or $2, still enough to make a nice profit. But u have to keep these reversals in context with the big picture, of course the news will again report this as the ultimate low, but they have now been incorrect on multiple occassions all the way from the top.

Edited December 20, 2018 by Top Oil Trader

[Top Oil Trader + 469]

when crude moves, always go in the direction of the stampede. (easier said than done), but thats the general idea. dont try and catch a falling sink. also if u play futures, only do 1 contract, i gurantee yoll lose less than if trade 3 contracts

Edited December 20, 2018 by Top Oil Trader

[A/Plague + 50]

3 hours ago, Top Oil Trader said:

and catch a falling sink. also if u play futures, only do 1 contract, i gurantee yoll lose less than if trade 3 contracts

subtle humor😎

[A/Plague + 50]

.

 

Edited December 23, 2018 by A/Plague

[Top Oil Trader + 469]

$42 hit today, i rest my case.

[catch22 + 244]

On 12/25/2018 at 5:26 AM, Top Oil Trader said:

$42 hit today, i rest my case.

Yet you didn't short it from 50.60 and ride it all the way down... imagine it you did! 

I have 1 word for you- conviction...

[A/Plague + 50]

1 hour ago, catch22 said:

Yet you didn't short it from 50.60 and ride it all the way down... imagine it you did! 

I have 1 word for you- conviction... 

what if he put a screen of his closed transaction from 76 on 42 😎

[Top Oil Trader + 469]

shorting from 76 to 42 that is what hedgefunds do, but sadly not this time around. they where all expecting 100. go figure. but so where the analysts and everyone else. 

 

pierre is now down 20% on 1.2 bill, since oct 1st, so that is about 300 mill loss right. had he just called me on oct 1st, i could have saved him. maybe next time, assuming he still survives.

Edited December 26, 2018 by Top Oil Trader

[Top Oil Trader + 469]

as you saw i said crude would hit 49 last week and it did. this week too, the target is also obvious, but there is only so much i can give away.

But I wanted to talk about something even more important. Vendors trading software.

Since I am trying to make 3k average a day in crude, consistently, I need to be very accurate. So just like Messi is constantly getting the best soccer shoes, that are more accurate than the ones he had last year, so his shots can be better. I am constantly trying to find the best trading software. And what I do I constantly go through the software available for trading. So i have now used what i consider the worst of the worst to the best of the best. So software that is free, to software costing 350 a mo +.  Now I guess there really are only about 10 big vendors, or maybe 5 lesser known. So if you have the time, it won't be hard. Besides some come with a 1 mo trial, and after a couple of weeks, you'll know.

So when I subscribe to this software I use them all at the same time and see how they display the data, what studies they have, the speed of the data etc. Since I have very fast internet, it is never a problem with my provider.

Slowly I began to realize that though I don't use candles much but just wanted to compare, and noticed some of the software display fewer candles for same time frames as other software do. 

Some of the studies show differently on different software. Some have very cool tools that others don't. And some have tools with more customizations that others.

 

So there is a chart called tick charts, what's amazing is how different that is with different vendors, and of course there are lots of reasons for it.

You need to figure out which is the most accurate, which have the tools you need, etc.

for example with one vendor everything came for free, with another one, changing features on the chart you need to pay more.

What I'm saying do your research, you may not have the right data, to be able to make timely decision.s.

Also if you are looking to pay someone to teach you how to trade, make sure you see their track record, I know some good traders who teach, and indeed every single trade they do for the year is live and tracked.

Most educators talk big, in front of an hourly rental of a Lambo, or a rented house. But make sure you see their track record before giving them 6k for one of their many courses.

So in my case, I use a couple of software, which all cost money in the hundreds, with all the add-ons. One of them is one of the worsts, but alas they have some tools that the rest are worse. So I'm stuck with them too. 

Now I can't recommend any vendors, since, I know most use MT4 which is free, and I feel bad telling you to fork over money, but obviously if you want to be very accurate, you need to fork over some serious cash monthly. Besides some that I like are really the worst in speed and accuracy, but can go for $400 with some useful bells and whistles. I guess some people do like them, what can I say.

 

 

[A/Plague + 50]

2 hours ago, Top Oil Trader said:

as you saw i said crude would hit 49 last week and it did. this week too, the target is also obvious, but there is only so much i can give away.

But I wanted to talk about something even more important. Vendors trading software.

Since I am trying to make 3k average a day in crude, consistently, I need to be very accurate. So just like Messi is constantly getting the best soccer shoes, that are more accurate than the ones he had last year, so his shots can be better. I am constantly trying to find the best trading software. And what I do I constantly go through the software available for trading. So i have now used what i consider the worst of the worst to the best of the best. So software that is free, to software costing 350 a mo +.  Now I guess there really are only about 10 big vendors, or maybe 5 lesser known. So if you have the time, it won't be hard. Besides some come with a 1 mo trial, and after a couple of weeks, you'll know.

So when I subscribe to this software I use them all at the same time and see how they display the data, what studies they have, the speed of the data etc. Since I have very fast internet, it is never a problem with my provider.

Slowly I began to realize that though I don't use candles much but just wanted to compare, and noticed some of the software display fewer candles for same time frames as other software do. 

Some of the studies show differently on different software. Some have very cool tools that others don't. And some have tools with more customizations that others.

 

So there is a chart called tick charts, what's amazing is how different that is with different vendors, and of course there are lots of reasons for it.

You need to figure out which is the most accurate, which have the tools you need, etc.

for example with one vendor everything came for free, with another one, changing features on the chart you need to pay more.

What I'm saying do your research, you may not have the right data, to be able to make timely decision.s.

Also if you are looking to pay someone to teach you how to trade, make sure you see their track record, I know some good traders who teach, and indeed every single trade they do for the year is live and tracked.

Most educators talk big, in front of an hourly rental of a Lambo, or a rented house. But make sure you see their track record before giving them 6k for one of their many courses.

So in my case, I use a couple of software, which all cost money in the hundreds, with all the add-ons. One of them is one of the worsts, but alas they have some tools that the rest are worse. So I'm stuck with them too. 

Now I can't recommend any vendors, since, I know most use MT4 which is free, and I feel bad telling you to fork over money, but obviously if you want to be very accurate, you need to fork over some serious cash monthly. Besides some that I like are really the worst in speed and accuracy, but can go for $400 with some useful bells and whistles. I guess some people do like them, what can I say. 

 

 

software for trade with the definition of the objectives of the movement and the evolving dynamics of price changes can not be. for all the time of trading, I have never met two ideally coinciding situations. At any time, there are thousands of nuances on the market (for example, a trader mixed up the BUY and SELL buttons) and all this cannot take into account everything — just some kind of program. Accordingly, the decision will be wrong. It can be done by some giant computer. The only advantage of the adviser is that he will force you and immediately set a stop loss. Therefore, all advisers are money to the wind ... The best adviser is the human brain, experience, and most importantly the ability of analytical thinking. If a person is not able to quickly establish a causal relationship of some events, then it is better to go to work as a bricklayer at a construction site.

[Top Oil Trader + 469]

Well if you spend as much time on research, you will find many discrepancies. But for me trading swing is not the issue, nor is long-term, i know way ahead of the news where prices will go, almost to the dollar, as I have shown here countless and countless of times.

the issue is day trading, where every candle should be the right one, and you certainly don't want one vendor to show 5 spinning tops in a row, and the next vendor showing some engulfing pattern. So this depends on the vendor/ slash the data provider broker. And certainly most traders will never get into this nitty-gritty detail, but in the fast-paced volatile markets with algos taking out traders, and other algos taking out other algos, producing 80% of the volume, which otherwise would be a very simply market to trade, The best you will be able to do, is to take some 10 cent moves once in a while, when you are lucky, which indeed I see lots of traders do quite often, and are quite proud of their accomplishments. But they could get some 10 cents moves, but then they get caught with 1 big $1 or $2 move that goes against them, and all their work for the last 3 weeks goes out the window. This happens daily. I'm not complaining, but trading 10 cents moves really requires 0 skill and is simply using your emotion, which is a 50/50 bet.

The reason why its good to be very good in day-trading, is first it could be profitable. 2nd even if you swing trade, day trading will help you get in and out, at the optimal prices. Otherwise, you need to use ranges where the best exit and entry points are.

What I am saying is this, if you really want to make the big bucks, it will be a lot harder than just looking at the same chart you have been looking at for the last 10 years, and catching 10 cent moves, with the same outfit. Do some hard work, and I hope you will be a better day-trader in the future.

[Top Oil Trader + 469]

Just understand that today it is not as easy as the 70s. back then if you knew what the donchinian channel was, that alone made traders multimillionaires, or moving averages etc. Today that means nothing, but people still think they can outsmart the algos, by knowing  some simple price action study, or a new formulated indicator, all these things are taught by gurus daily, 1000s of them, all with no track record, whom all say they have the latest thing, what they dont realize is that the algos also have this thing, and therefore the trader has 0 advantage in using it. Certainly, people who say here you can use your brain to outsmart the market, really have absolutely no clue, and most likely never will, and just like the educators with no real track record to show, these same people are just lots of talk.

The markets will only get more and volatile and unpredictable, as time moves on, leaving more and more victims in its wake, all who think they can outsmart the market. Yes it is certainly a challenge and is fun until they blow their account, demo or whatever over and over.

Today even the smartest hedge funds that remain every year from the 1000s the blow-up, the best they can accomplish is to barely break even. Although there are a handful of exceptions. Names that come to mind, are dalio and soros.

[A/Plague + 50]

10 hours ago, Top Oil Trader said:

Just understand that today it is not as easy as the 70s. back then if you knew what the donchinian channel was, that alone made traders multimillionaires, or moving averages etc. Today that means nothing, but people still think they can outsmart the algos, by knowing  some simple price action study, or a new formulated indicator, all these things are taught by gurus daily, 1000s of them, all with no track record, whom all say they have the latest thing, what they dont realize is that the algos also have this thing, and therefore the trader has 0 advantage in using it. Certainly, people who say here you can use your brain to outsmart the market, really have absolutely no clue, and most likely never will, and just like the educators with no real track record to show, these same people are just lots of talk.

The markets will only get more and volatile and unpredictable, as time moves on, leaving more and more victims in its wake, all who think they can outsmart the market. Yes it is certainly a challenge and is fun until they blow their account, demo or whatever over and over.

Today even the smartest hedge funds that remain every year from the 1000s the blow-up, the best they can accomplish is to barely break even. Although there are a handful of exceptions. Names that come to mind, are dalio and soros.

guy ... the market is always the same. the thing is that the herd is always looking for an easy way to get money (because it is used to getting it without doing a dick), so herd  trying will  cunningTHE MARKET as you say, and if you don’t even have brain to try it, then how are you trying to buy some sly advisers. No need to be cunning !!!! ... It takes a lot and a long time to LEARN and WORK WITH THE BRAIN for 16-17 hours a day ... 7 days a week .... 10-13 years ... And then you can also read the market as a musician notes .... Do not whine ... work until the blood comes out of your ass and you will be happy ... UNDERSTOOD?😎

Edited January 7, 2019 by A/Plague

[Top Oil Trader + 469]

whatever. bulls won, for now, China deal will make crude shoot up to 51

[A/Plague + 50]

11 minutes ago, Top Oil Trader said:

whatever. bulls won, for now, China deal will make crude shoot up to 51 

did you stand up long ?