While the Diary of a Mad Hedge Fund Trader focuses on investment over a one week to six-month time frame, Mad Day Trader, provided by Jim Parker, will exploit money-making opportunities over a brief ten minute to three day window. It is ideally suited for day traders, but can also be used by long-term investors to improve market timing for entry and exit points.
We're filled selling 2 Crude Futures @ 77.20.
I generally recommend trading in units of 4 Futures contracts which utilizes 10%
of a 100K account.
Most Futures usually require $2000-2500 per contract to trade.
I did not execute the oil early enough utilizing the opening range and yesterday's
ORL level to not have an appropriate risk reward profile.
I was afraid that if it started to get a head of steam below 77 it would just run away to the downside.
Oil is trading oversold, which means you have to be patient to sell rallies.
Oil can chop around until Thursday into Friday when the Brent Futures expire.
My trade location and timing stunk, hence a small look.
If Crude closes higher on the day it will have another good rally.?
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