ivantchourilov
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Aloha mate, ive been thinking lots about what you and new_trader have been saying, as i really respect both of you alot..
And so ive decided im going to stat to focus alot more on my entry reading and technique.., and so try using slightly smaller stoplosses.
Since at the moment when i get into an oil trade cos i think its going to fall down that day, im right about that happening 90% of the time, but often it can go up $1 t $3s even before it does fall down to make me in profit.
I use such a big stoploss of like $20s (2000ticks), so unless the market crashes/peaks and stays i will make money everytime and not lose it...
But if i get in and then the oil goes up $2s against me 1st, and then falls down $3s..,
im just missing out on 200+ pips every single time every trade! :-0
And so instead of making £300 or £600, i only making £100 or £200.
So i am going to start working alot more on my entry, since im currently in a long on oil that i entered at 140.43, right at the ultimate peak after yesterdays crash, and so now holding a £250 loss and scared the oil bubbles over if inventories arent worse than expected..
be careful. oil could theoretically not return to these levels for a few years if at all. there have been big drops in the past of other commodities like silver. there is a major resistance around 147 and i just hope for your sake that it will make a move towards it. but its your trade, good luck