Thursday, April 24, 2008

Oil Falls over $3 and HPT.....

It's about DAM TIME!
Holding this trade for 4 days was a stressful experience.

Volume Profile Analysis BABY!
I had exited in the $114.60-115 range based on the volume gap I saw.

Here's the action as it unfolded-

Overall, I put on a bad trade on Monday that I should have taken a loss on when Crude Oil rallied into the close. However, due to the fact that Oil had been up 13/14days at the time, I felt compelled to hold this trade thru some pain in order get the pullback that I expected. Next time, USE THOSE STOPS, no matter how ridiculous and overvalued a stock or futures contract looks.


MaybeD on 3:15 PM said...

I was rooting for you from afar...

...But don't trade like that again!

HPT on 3:23 PM said...

It was a bad trade. Perhaps my prayers were answered. I may not be so lucky next time.

PS. Nice to see other futures traders.

Sunny on 6:22 PM said...

you held it for 4 days. Wow !!! i would've gone freaking insane, watching it trend higher and higher...little bit lucky there for sure.

HPT on 10:00 PM said...

It was stressful, that's for sure.

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