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I am a young trader who has just lost his shirt in oil futures. I thought I should, but he jumped!
I left a little money in the bank. How do I invest in oil futures? Oil seems really high, but this time again, the dollar is low and the demand is. What do you think oil will in the next two months?
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#2 written by trio_jeepy 1 year ago
You might want to take a little time off and evaluate your trading.
Likewise, you should ask yourself why you thought oil was going to go down and why you think you have any real basis for that belief. In addition, because you’re using futures, you know that you can’t tolerate a big move in oil against you, so you cannot handle a swinging market.
You should be more disciplined and stop out trades against you – you can never know more than the market, and the market has a habit of spanking traders who think they do.
You should also ask yourself whether you’re trading because you need to be “right” or because you want to make money. If you hold onto a losing trade, then you’re trying to be right. If you’re going with the flow, you’re trying to make money. Ask yourself which one you are.
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Pete, also be aware of wash-sale losses if you invest in some of the same vehicles. (on taxes-depending on how these futures were alloted) ……..The write-off is lost if you re-invest in the same vehicle. But maybe this question is a set-up to a lead of some kind of advertising? We’ll see. Futures are good for a trader, but better for position-trading, comparably. Do you trade any grains?