Oil Position.
It has been a while since I have been stopped out of the position in oil but it happens. This position that I am presently in had its stop hit at around the 65 areas. That is alright. I still believe that oil is headed back down to the 50 areas over time. You can see how the fibs are structured below. I am not a big fan of Fibs although this is what a lot of larger players use as a means of entry into the markets.
Fibs are like anything else. Just lines on a page. They don't mean anything more than supports, resistances, volume levels and whatever other way you measure where the price is likely to turn. The key here is the word likely. If enough people see the same thing in the market there is a high probability it won't happen. That is how the markets work. They are meant to unite a buyer and a seller in the free market auction.
Of course, this is not how they work at the moment or for the past ten years but that is how they were set up, to begin with. Central banks are the auctioneers at the moment in just about everything out there.
Alright, so you can see what I did at a certain level in the market. I thought to myself it is either going to head back over 70 a barrel which I highly doubt or it is headed back down over time.
You can never know for certain what the markets are going to do. You can never know where they are going to turn on a dime but there are indications that help you make your decisions. One of the big social indicators that I use is herd mentality or mania. When everyone is sure something is going to happen you can be sure that I am on the opposite side.
Now this can be very profitable but it can also be very dangerous to try. They always tell you NOT to fight the trend and that it is your friend. This is a big lie. Yes, I know that is how a lot of self-made millionaires in the markets made their money. However, the fallacy is they did not make it by following anyone else. They did it by entering the trend as early as they could identify it and riding it out to its conclusion.
By now you know you cannot get in at the bottom or top consistently although I can show you some dam good entry points over the years right here on this blog. No ego just the way it is.
So here we are and I just took a buy in the markets to hedge my position and lock in the profits. There is no easier way than trading than to have positions in both directions once you get into a nice profit. If you have any other questions please don't hesitate to ask more questions. My EUR/USD positions in my other blog are making nothing but profits lately so I hope that you are enjoying those. As I said before in ten years it has NEVER lost. Not once. Read the data for yourself as it is likely the longest and best performing system that has ever been created. Its simplicity is rivaled by nothing and its results are nothing more than staggering. People pay thousands for useless to get rich quick business schemes that are propagating the internet once again. Here is a free make money technique that will in no uncertain terms make you cash every week. Every single week. Anyone can learn it in a jiffy.
Cheers!
Fibs are like anything else. Just lines on a page. They don't mean anything more than supports, resistances, volume levels and whatever other way you measure where the price is likely to turn. The key here is the word likely. If enough people see the same thing in the market there is a high probability it won't happen. That is how the markets work. They are meant to unite a buyer and a seller in the free market auction.
Of course, this is not how they work at the moment or for the past ten years but that is how they were set up, to begin with. Central banks are the auctioneers at the moment in just about everything out there.
Alright, so you can see what I did at a certain level in the market. I thought to myself it is either going to head back over 70 a barrel which I highly doubt or it is headed back down over time.
You can never know for certain what the markets are going to do. You can never know where they are going to turn on a dime but there are indications that help you make your decisions. One of the big social indicators that I use is herd mentality or mania. When everyone is sure something is going to happen you can be sure that I am on the opposite side.
Now this can be very profitable but it can also be very dangerous to try. They always tell you NOT to fight the trend and that it is your friend. This is a big lie. Yes, I know that is how a lot of self-made millionaires in the markets made their money. However, the fallacy is they did not make it by following anyone else. They did it by entering the trend as early as they could identify it and riding it out to its conclusion.
By now you know you cannot get in at the bottom or top consistently although I can show you some dam good entry points over the years right here on this blog. No ego just the way it is.
So here we are and I just took a buy in the markets to hedge my position and lock in the profits. There is no easier way than trading than to have positions in both directions once you get into a nice profit. If you have any other questions please don't hesitate to ask more questions. My EUR/USD positions in my other blog are making nothing but profits lately so I hope that you are enjoying those. As I said before in ten years it has NEVER lost. Not once. Read the data for yourself as it is likely the longest and best performing system that has ever been created. Its simplicity is rivaled by nothing and its results are nothing more than staggering. People pay thousands for useless to get rich quick business schemes that are propagating the internet once again. Here is a free make money technique that will in no uncertain terms make you cash every week. Every single week. Anyone can learn it in a jiffy.
Cheers!
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