Apologies for not being up to date with The Spread Betting Blog. I have been away on holiday for two weeks – in which time both my positions on crude oil closed out at good profit levels.
Here is the article explaining my entry into the two oil contracts.
There is nothing like relaxing on an exotic coastline while your spread betting account locks in money. I like to imagine this is the life of the full-time retail trader. We have all seen those forex trading adverts of those morons sitting on the beach shoreline with their laptops (this is surely a bad idea?). Needless to say I have a long way to go before reaching this quality of life.
Brent crude hit 115 – triggering the profit level while WTI expired on its monthly contract. The level still came in at a good level – north of $99 a barrel.
I let my trades expire after a month as experience has shown this to be a safe bet. In the past it has cut losses on losing positions, indeed, it has locked in profits this time around – as we can see WTI has pulled back again in line with market conditions.
No new trades are on the cards for now. I will only enter the market on convincing cases so I will continue to read the research reports from my trusty sources. That said the current pull back is opening things up again for a long trade from a technical angle. I will update once I get stuck in once more.
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