Do your own due diligence, your risk is 100% your responsibility. This is for educational and entertainment purposes only. You win some or you learn some. Consider being charitable with some of your profit to help humankind. Good luck and happy trading friends...
7 Common mistakes: +5% portfolio trades, capital risk management Beware of analyst's motives Emotions & Opinions FOMO : bad timing, the market is ruthless, be shrewd Lack of planning & discipline Forgetting restraint Obdurate repetitive errors, no adaptation
7 Important tools: Trading View app!, Brokerage UI Accurate indicators & settings Wide screen monitor/s Trading log (pencil & graph paper) Big, organized desk Reading books, playing chess Sorted watch-list
Stay long MRO. Been holding this and other energy plays for over two years and it’s a beast!
Options360
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@ktaba, Good stuff, thanks for dropping a line. Trim take some profit imo before oil prices drop. It's not going to go up forever.
ktaba
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@growerik, yeah I hear you, we’ll always have major drawdowns, when Ukraine deescalation, profit taking, etc. but we are still in an energy super cycle that will last 3-5 years. It’s over bought, but still under owned in the S&P benchmarks. There is a reason why it was the best sector last year and again this year. Stay overweight in commodities! Good luck!
Options360
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@ktaba, I wish you the very best of luck. I cannot affirm commodities any higher this week, except gas probably. I'm a seller into strength. But I hope I'm wrong for your profit. lol. I trade more conservative with risk : reward depending on my time frame entry / exit.🖖
ktaba
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@growerik, yeah I get it! I am more of a longterm investor than a trader and don’t usually own significant amount of energy other than times like this. There is just too may outside macro forces, geopolitical, etc. but these companies are run differently at least for now and as long as oil stays above $70, they print money as their breakeven s are in the low 30s. Good luck mate!
Options360
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@ktaba, yea my main thing is there's a variable that cannot be calculated (aka geopolitical surprise good news or geopolitical continued bad news). So commodities are nothing but a trade to me. Congrats on holding on to your investment for 2 years. Remember when oil hit negative -$0 from covid? Is that where your entry point was, then hold on forever. lol. If not, Whomever is holding/rolled those long term contracts from that -$0 entry hit the lotto big time.
ktaba
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@growerik, yeah I didn’t get the bottom bottom but it was close. I also sold for a while and missed a lot of the upside that happened, because I thought the trade was over. But energy trades on the futures and it always overshoots on both ends, so it gives you absence on when things dot add up and to get in and out. Nobody will consistently time the top or bottom, but greed is a bitch lol. I won’t hold forever as commodities, other than gold aren’t a forever hold like the other sector imo.
@growerik, Gotta love these guys that claim to buy the bottom or near the bottom but never sell. Could it be that they actually got caught up in the crash. Of course they did just like they will again because they dont sell and believe in "supercycles."