I've been building a fairly sizeable position over the past few days in Gasoil spreads. Here is a chart of the August 16 Oct 16 spread at the front of Gas ;
I started buying at around -12.50 and bought all the way down to -13.75. At the first sign of strength in the spreads and when the selling started to dissipate, I was lucky enough to add to my position near the bottom. I managed to hold on to most of my position and took 40% out when it reached -12 yesterday.
Despite yesterday being a very quiet day in terms of the amount of volume that traded, it still lead to me having my 2nd best ever day (in terms of P&L);
It's a weird feeling when I have a day like that - if I made £120,000 by player poker or won £120,000 on the lottery I'm sure I'd feel completely off my tits with excited. But with trading, there's almost no emotion (unless I'm on the brink of losing a fortune and the market turns around - that's some fucking feeling). I think that's one of the most important factors about making money in trading. I feel like you have to desensitise yourself from the monetary aspect. Think of it as a game where your aim is to get lots of blue numbers instead of red ones!
It's been an incredibly volatile 3-4 weeks for me in the markets so this was a much welcomed day. I'm sure it'll be met with a few swings in the opposite direction over the next week or so but nothing I'm not used to.
On a separate note, I'm off on a golfing trip in a few weeks so need to get in as much practice as possible. Here's the 8th hole at my local golf club. Fucking hate this hole (I won't tell you what I shot as it makes me sick);
Nicely done, were you in at the -12.5s after the spike up to -10.5s or before? If after seems like a trade able double bottom at the time after an extended fall. Were you looking to scale in using the Jan/Apr low as support?
Thanks, man. I got in after the retrace back from -10.5. Yeah exactly that, used that low as a support point and was pretty happy getting in from -12.50 purely based on the aggressive move down over the previous few days, figured that it wouldn't take a huge move to run out of steam and pull back a few ticks!
@hisnameisolllie spoke in his post same thing about separating emotion from trading or investing in his guide for investing. If u are interested here is that article.
https://steemit.com/money/@hisnameisolllie/after-investing-in-50-start-ups-my-guide-to-investing
I AGREE! Thank you for posting. Hope you get this to snowball to the top!
I up-voted you too... BTW, should steemit let us steemers advertise using steem? Be sure to tell everyone you know to come vote here at: https://steemit.com/steemit/@kingtylervvs/if-steemit-ever-does-decide-to-advertise-there-is-only-1-way-it-could-work-in-my-opinion-debate
This is a democratic community decision.
I'm thrilled you agree....