Member Info for NorbertDentressangle

Thanks again TIE, that's big bucks you're playing with there! I've not risked more than $3 a pip and even then it can be stressful. I don't think I'd sleep at $45 a pip!! Thanks again for you advice, I'll keep a regular look at it now. I'm starting to get it, we're headed for $88 but that is necessarily in a straight line. Stay on the sidelines and pick entry points in tranches on the way down. If the lower targets aren't reached then stakes are lower. This makes more sense now, thanks

Quick Q. Why would you open a long at $63 & $60? Wouldn't that imply that support's been broached and there could be a new lower low?

Thanks TIE, that's a great bit of advice. I'll be looking for an entry point around $70 and keeping fingers crossed that it comes! You wouldn't be tempted to open a long at this price? Bearing in mind I've no open positions at all.

Does that oil breakthrough have to happen today or could it happen at any time?

The dog will be getting his walk slightly later tonight to coincide with that then peeps :D

The dog will be getting his walk slightly later tonight to coincide with that then peeps :D

Still moving upwards, along with DAX and US indices. I'm still gutted that I entered a long on DAX two days too early and lost the whole of my pot. Would've been 3k up now instead of stony broke :o(

TIE, thank you. That's a great answer and answers far more questions than you'd imagine! I saw CT8's post about $50 and opened a long at $68.something then another at $69.8ish and ended up being flung out at a $600 loss. I'm around $2,600 down on spreads now and looking to get my money back! Concensus is that oil will be $100+ in the near future and I think your advice about pitching in at milestone levels on the way down is good advice to someone like me who has a history of poor decision making. Thanks again fella, it's much appreciated

TIE. Would you stick your neck on the block on a long or short on oil at the moment? Do you still feel it's going back to $45-50? I've been so wrong on spreadbetting that I think I may keep my hands in my pocket, until/unless it does touch the low $50s again. What do you think?

Making a stretch towards 9000, IMO. Will it break through and surge towards 9300 or fall back to 8700? Decisions decisions

Great play on oil this morning. Bought at $1.62 down on the day and have just closed it a $0.25 down on the day, 137 pips :o) I set my order and went to work, must remind myself to do that every time and not second guess the market. FTSE seems to be rising a fair bit, it's still a long way away from 4000, I've ordered a short at 4485 confident that if it gets that high today then there'll be a swing back. If it doesn't hit then we'll start again tomorrow. Hitting 4500 could be the catalyst for downward pressure. Of the 3 indexes we mention, the DOW is a touch low, FTSE is a touch high and DAX is near the top of it's recent range. If the markets continue to rise for the next few days, what are the chances of the DAX staging the biggest retrace if the markets start to drop?

I'm such a spanner. No clear direction on DAX, FTSE or DOW. All three could go either way so decided to short oil at 60.60. Lost my bottle 10 points to the good and it then shot down another 50 points. Feeling that I'd missed out I tried to guess it would bounce at 60.40 and left licking my wounds at 60.20. It still seems to be struggling to pass $61. I'd guess that if it touches $62 it could go a fair bit higher. Even more irritating is that I was only 25 points above today's high with a short. I ordered it last night and went off to work today. Had it hit the target I would've come home $500 up and would've closed it immediately. Dullards never win... What was I saying about rash decisions again?...

Will do. Everytime I log on to my spread account I try to make a call and invariably I end up losing. When I make my call offline and then stick to it I'm usually ok. FTSE at 4269 is where I'm going long, looking at the trend since March it's on the up with a few set backs on the way. After 4269 I think we'll test 4700. Let's see just how wrong I get it this time!!

FWIW (not much) I think that IF we see a day where the FTSE falls in excess of 5% then we may see it fall under 4000. At the moment there's buying pressure the closer it gets to 4200 and selling pressure at 4500. We'll see in time. I know that if the FTSE touches 4000 again then I'm opening a very long long! Ditto the DOW at 7800

LOL, guaranteed wasn't it!!!

On another note, had a successful long on the DAX this morning. FTSE & DAX seem to follow the same path eventually. FTSE was 40 points (following the DOW) up with the DAX 10 point down. Both FTSE & DAX are now 55 points up.

You were correct about oil, I stupidly opened a long last week at $57.60 and had a hair raising ride before bottling it and closing $30 in profit. It's continued it's rise to $58+. I think another test of $60 is on the way, but surely with global demand so low it's got to sink back down to $50 again, even with reduced quotas... Any ideas? I've put in an order to go short at $59.77, and long if it drops to $56.65 As for the FTSE, 4400 is a decent level to start shorting, if it's going down to test 4000, is it not? Just opened my short so no doubt we're about to see a rocket to 4500 ;o)

Tell me about it. $1100 down the pan in 3 days, as it stands. Can't possibly continue to rise without a retrace, surely...

KIS - A 5-6% fall in a day! Jeez, you really think it could? I'm sweating on my oil short, really badly timed methinks now. It's risen pretty unabated 10% this week, seriously needs to be pegged back a bit or I'm broke!

DAX up to 4900 briefly, triggered a short at 4840. Fingers crossed it'll touch 4700 soon again! Yikes