Unbelievable, Difference between cme and forex broker .33 cents at the moment. I am going to have to revise my target to $41.43 to compensate maybe.
As per the Babypips schooling, I paid attention to the media today. As soon, I saw upbeat stories awaiting the API report, I knew where the day was going. I entered the short at 44.13, I exited my short today at 44.18. It was really a loss, but because of swaps my account balance increased by %6. I could have realized a gain of %50 of my account balance buy I opted to hang on for my target. The API is mixed, Gasoline was crap, cushing is showing a build up. If the numbers are not good from the EIA tomorrow, look out below.
I am going to do a 1/2 position today and another 1/2 after the EIA. Details to follow.
CME 44.53 Forex Broker 44.79. To be fair, CME is not real time. I entered my short with a half position. If I consider the EIA report good, I will implement a hedge trade and enter on the buy side. If I consider the report crap, I will enter a full position on the short side. I will formulate my short Targets when required.
I closed my short and reopened a long position with a target of 46.60. I am opting to stop fighting the trend. We know this going to go, the string pullers are going to become active around 3:00 EST and begin running this until the EIA report at 10:30. I am guessing with the trend. I have a target to increase my account balance by %25.
Forex brokers know how to stick it to you with swaps. If you are long, 30% of your gain is wiped each day by swaps. I am holding for my target of $46.60 +/- I want to be short, I don’t like being long.
Have ever noticed how a trend happens, then starts going sideways and is strangled by the difference between the bid and ask? Forex brokers way to stick it to you with their swap charges. If the brokers haven’t picked your pocket with the difference between the bid, ask, and swaps, they will assess the balance of buy versus sell and run the direction to margin you out for the most gain. I digress, forex brokers are not your friend. Do not be deluded, you have to weigh out all costs from entry to exit of your position and be sure you have the margin to survive your trade.:54:
I entered a long trade with my live account and realized 33% account balance gain. After exiting, I went short in my demo account. I will formulate short targets for the “pull back”, and may jump in once I see a pull back is confirmed.
I couldn’t resist I went short with my live account. I ended up increasing my live account balance by %70 this week. Had I stayed true to my short target today I would have realized over %100 account balance increase. I go long short, it makes no difference to me. Friday is not a good indication of oil direction, Monday will be better to know what the prevailing sentiment is going to be going into the API and EIA reports.
I managed to increase my account balance by %25 today, up %100 since last Monday. A little word from the wise about forex brokers, check the cme quote and compare it to the Forex bid/ask. The difference is not constant it fluctuates, and the difference can get beyond ridiculous. If you are using indicators or charts from these forex brokers BE VERY VERY careful. Reliable data is a must, and learn to some technical analysis, throw the robots in the garbage. Currently I am learning Fibonacci analysis.
On a bit of a roll, my account balance is up %400 from last Monday. 1 week 1 day. It was sickening watching the thievery I was subjected to, but hey what are you going to do swimming in shark invested waters. I am done trading until after tomorrows run of numbers and headlines. I am going to spend some time learning more chart analysis.
No joke, .50 cent difference between CME and the Forex platform at the moment. I have noticed this difference fluctuates down 15 to 20 cent difference. So? Are you relying on indicators and robots to get you in and out of a positions? Or if the market is moving or trending in a direction you are not experiencing the full benefit of the move. THIEVERY, anyways I am short, surprise surprise. API was really not that great, glut inventory still growing. IRAN has cranked out more oil, the only thing stopping IRAN from shipping more oil is they don’t have the tankers to ship. Higher OIL prices is going to do one thing, create incentive for OPEC members to pump more and ship more. The Bulls are delusional as they are trying to get oil to $50 so the frackers can start producing more oil. Sorry, we are not quite there. EIA numbers will dictate the direction, API has done nothing IMO to fuel bullish sentiment.
Another difference to look at is the difference between West Texas and Brent. Right now exactly a $1 at the Forex broker I am using. Usually the difference is over $2. The noose is tightening around xti bulls, they will be buckling. We will see if they buckle before I am margined out or the price corrects and I reach my PT.
I thought I would be going to sleep with an open position, fortunately I closed it at break even. I will wait until the EIA and decide whether I am long or short. For the moment, no position.
Well, I was happy I closed my short going into the EIA as the bulls got over excited. At 10:33 AM I read the EIA report, decided it was crap and went short. Doing So, my balance increased %700 from last Monday. Don’t be deluded, I have lost enough for me to have bought a new iPhone or Samsung. I have returned my balance to last Monday’s amount and withdrew the gain 
From here on out, that is how I roll. In a few days I will see some of my lost money back. Forex is a journey, pace yourself. The market is not going anywhere. No position at the moment, currently assessing the market.
Once again I am happy I took a breather. Alberta wildfires are shutting down pipelines and halting oil sand production. That should make bulls very very happy. So yeah, all aboard I flipped to being a bull because of. I will see if I hit my PT 
Conspiracy? Maybe the fires were deliberately set, to stop oil production and stop the pipelines from pumping. What will that do to the inventory build? Depends on how long this halt is and what amount not being produced and shipped I guess.
The trend is up, bulls were look for anything and everything to keep the trend going that way. They may have got their wish, Hello $50.
I trade like a politician :29:
I couldn’t stay long, it was bothering me. I got out with a %10 account balance gain. I will decide tomorrow on what to do short, long, nothing.
I should have stayed long, I ended up being margined out on my short. My account is in limp mode now. At least I withdrew some cash. Hopefully, I can snowball what I have or else I will be back to demo trading until I feel like depositing money.