Lightandbitter

albeit a small profit, short dow at 16375 and short wti at 32,65

locked in for small profit but fancy this to go a lot lower today

Bahtatboy

You did well to get wti at 3265!

Lightandbitter

was in very early doors long at .65, ran in up to the 33 mark, came off there very fast so switched polarity and am letting it run. think we could see 31.50 today

Millhouse

Nice work. I closed out a loss before that rally which annoyed me. I always struggle to make money on oil. I would say long term I'm out of the money on oil. I've not spent enough time understanding it

Lightandbitter

I am not saying I understand it, i just understand the quick movements which is all i want.

I think the world and his wife wants to be short oil but its a scary place to be, any sign of conflict or even a rumour can spike it 5-10% and wipe you out. Saying that I thing once it goes through 25 USD the reward much outweighs the risk and the big players will pile in.

For me 24.50 is the bottom for me

Bahtatboy

I think the pints are starting to talk.

Millhouse

I've done ok shorting it. The problem now is the search for good news is spiking it. The production freeze will do nothing for the long term picture but the markets over reacted in the last couple of days.

I'm with you generally. Most of the money is made in moving markets. Nothing worse than a flat market for the day trader.

Lightandbitter

lol didn't mean today, but sure we will test 25 USD in the near future

Bahtatboy

And then buy buy buy...

Lightandbitter

exactly

Millhouse

Why wait to buy when you can sell it on the way down and then buy it on the way back up.

I short more than I buy for sure.

Lightandbitter

for me thats a real scary way of trading

I am saying and its only my personal thoughts, that 24.50 is the bottom for the foreseeable future. Buying anywhere near that figure looks low risk to me. I cant sell it all the way down to there even though i am convinced it will get there because I wont hold an overnight position so on the way down to 25 I may well sell and buy it 100 times.

market movements are always continual and never continuous

saying all that my money is on oil closing at 31.30 and Dow at 16275

Have a good weekend all

Bahtatboy

How did it pan out?

I don't understand what happened today with the FTSE rising and the £ falling, but nevertheless I still "made" £850 quid on mainly micro movements of oil and GBP/USD. 17 trades mostly of 30 secs - 5 mins, although £750 of the total was allowing GBP to rise when it looked like it had fallen to far. ("Looked like...": I need some mathematical help...)

Bahtatboy

Beginning to understand that.

17 trades today, 10 short 7 buy. 9/10 success on shorts, 4/7 success on buy. Probably not sustainable...

Lightandbitter

I think the pound has a lot further to fall, at least until the uncertainty about the "brexit" has been resolved.

I think it can go down to 1.35 which is great if you are sending money back from here, taking us to under 5 AED to the pound, we haven't seen that since 2008/2009