$860 in profit -- Oil prices $70 per barrel and inflation pressures
Hi,
The market finally started to move at around 12:00, I did not plunge right in as I was still not convinced that this is a real movement. Finally when it crossed yesterday's low, I shorted one contract at 1718, and another 2 contracts at 1714. I had my profit target at 1701, 1 point above 1700. The market seems poised for a large movement and it did. Don't ask me the reason for this movement, I don't know. All that I am doing here is reacting to the market movement and trying to profit from it. Each trade is a risk in itself, but a calculated one. I ended the day with $860 in profits.. not bad for a 1 hour trade. But, I was there tracking the market from opening bell. Trading is like fishing, you stay dormant until an opportunity strikes and you prey on it!