I honestly don’t know where the markets are heading next. I cannot predict where and when the top and bottom shall take place. But I learnt it hard way, what I should do "stay" or "quit" when price is traveling beyond my reference levels.

Wednesday, May 11, 2011

Crude oil trade

Crude oil bought @4632 on 10th May.

Made high @4640 yesterday and closed at 4610.

Opened higher @4651 and trading in the range of 4650-4670 today on 11th May.

SL 4520 and let me wait..

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Update :

Since it was trading weak, i decided to book the long at 4650 to re-enter at low and booked the same on 11th itself. It fell in the evening up to 4422 and i didn't reenter into long. Now no position in crude.
Posted by at 1:25 PM
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