9/11/2008

Crude Oil Trades

The NYMEX crude oil contract got close to $100 ($100.19) but stayed above the magic number for today. I hope the overnight trade doesn't take it below $100 because I want to be there if it happens.

Today's trading was ok with a winner, full stop, and a couple of break evens. Money management as always is the key. I can have a good day with 1 winning trade by limiting the losers quickly.

There is no free lunch as that same money management means I miss some moves due to tight stops and moving my stop to break even.

The second and third trades on the chart are examples of that.

You can't get everything. Or at least I can't.

13 Tick Crude Oil Renko Bar Chart (click on chart to view)

2 comments:

Anonymous said...

Solfest, I've been going through your blog... I find it really interesting. Who do you use as a broker? Feel free to email me at s.haen@infinityfutures.com.

Solfest said...

I use Interactive Brokers. Good luck with all your marketing efforts.