Oil Trade 17.08.2012

Friday, August 17, 2012

11:40 PM

Strategy

Oil - I will keep my Oil ETF positions. I will short spot WTI because it is approaching 200 SMA (Daily Chart).

Short Oil

Entry: 96.44

Exit: 95.47

Position Size: 1

Reason: there should be a downward pressure when it touches 200SMA and it is the first time it touches the 200 SMA after April 2012.

8/21/2012 9:55 AM 

Review

Oil Trade - I have been stopped out at 96.74 and lost 0.5% of my capital.

Mistakes & Lesson Learned:

1. Stop loss is not wide enough >> my future losses will be 100 points instead of 30 points
1. Please analyse the ATR to know the daily volatility / movement