Trading oil can multiply your account or cripple your account. I wanted to start a thread to identify direction, the triggers that drive direction, and when the volume is low and the time to beware.:46:
News, Fundamentals, and Technical, all considered. It’s ok to use Demo accounts, Live accounts, the end result of success or failure is if your balance is going in the right direction.
I had a pending sell order for XBR before symbol was open for trading. It didn’t get filled. Currently, XBR is allowing for buy orders but no sell orders. Go figure, manipulators, be ready to sell when the Sell Symbol is available.
Opec not meeting again until June, How are the Bulls going to keep up the price?
they cant. bulls are death. price will go down steady the next few weeks. things changed.
Nothing worse than being Margined out, the bulls are giving sellers a gift right now.
Trading oil you have beware of the liquidity providers, oil did a huge gap down from friday, that kicked out or margined out alot of longs. The liquidity providers are in the process of flushing out the shorts now. I may not survive the night, I could be margined out. We will see. Anyone without a position, wait until the New York session.
Oil is dirty, trading OIL is equally dirty.
Forex is very much about margin. Yes I was margined out. My Live account has run aground, paper trading and demo account for at least a week or two. If i can’t go forth and multiply, there is no point to forex for me. That means the pursuit of 10 fold gains.
OIL rallied to today because of a strike in Kuwait. BS.
Critical points is when the crude oil is rolling over to the next month Jun 16 contract is now what WTI Forex is based on. Anyone wanting to trade oil will have to pay attention to the rollover points.
Propping oil up because of Kuwait is going to backfire, Iran, Saudi Arabia, somebody is going to fill the void. There is also talks of increasing production in June, not decreasing. Don’t be afraid to sell into these bulls, be careful with your margin. The liquidity thieves are abound.
Is the fluff run over? API numbers were horrible. The EIA horrible. This Kuwait prop is going to backfire, Iran has probably already increased it’s output to compensate. Sadly, I was margined out, no money to play until maybe next week. In my Demo I am short at $44.13. I will tabulate my price target and post it.
I should have titled this thread, the aggressive WTI and XBR Bear trading thread. LOL. $38.14 is my price target. This is not fixed. I am currently learning some analysis methods. I will post the targets I formulate.
Your PT are $41.10, $39.10, $36.10, $33.80. The way I will play this I am going close my short at $41.10 and set a pending order sell at 41.10. Lock in my profit.
To get into my current position I used 50% of my balance. I went short on April 20, 2016 at $44.13. If I closed now at $43.68 that would be 12.6% return. The picture is skewed as there are swaps involved. Every broker handles them differently.
Day 1 12.5% Potential Return. Holding for my Price target of $41.10. That would equate to an %85 return
Day 2 @43.96 (43.75 according to CME) If I close now 4.8% Return. The low of the day could have netted 23% return. Oil is being propped up and not by market forces. Sooner or later this propping up is going to fail and It will move towards my target I believe.
Also the oil delusion. Cars use 15% less in warmer weather vs cold. As I said I was margined out, so this demo money. Today’s high was 44.60. I should start paying attention what this is doing to my free margin. I will do that starting next week. I have real money in position to fund my account and begin live trading again. Before doing so I want my current trade to run it’s course.
My bias is down, but really if I want to toe the line I also put Resistance targets above my entry, they can act as Bullish Price targets or Short Entry points. You decide 
reading about oil in my favorite news source, brokerarena
they mention if
[B]Kuwait has restored oil production to 2.9 million barrels[/B]
looks like with this new kuwait moves, oil prices will going down again.
What gives? CME quote shows the June contract at $42.93 the last time I checked. The forex broker quote to close the trade $43.20. (.23) That’s not to bad. Earlier it was cme $43.13, the forex broker $43.52 (.39). Could this difference imply something aside from the broker trying to make more money.
I entered at $44.13, currently at 42.93. 34% return on Day 5 of the trade. With Swaps it’s showing I would close at a %50 return. My target is $41.10 where I will cash out, and reopen the same size position with a target of $39.10. This has to happen before Tuesday’s reports of course.
I want to be on the bull side, but the fundamentals, the glut, and so on. This trend is a fluff trend.
With Iran poise to ship more oil, China is now an exporter of gasoline (look out world), glut of oil, Saudi Arabia teetering on financial ruin. Will my $41.10 target hit? I have decided to enter on the long side after it hits. I will call this a pullback.
