10/18/2023
Crude Oil (WTI)… from $84.50 to $88.50 in 24 hours of overnight trading. A long position of one contract would net a $4,000 profit… or if you are more conservative like me, a $3,000 profit. I wait for the turn to add some certainty to the trend and I set a target goal and a stop loss so I seldom reap the maximum profit from the movement. If I’m monitoring the trend, I move my profit target and my stop loss to maximize profit and minimize whiplash losses. All part of trading strategy. It depends on your risk tolerance. Some traders have nerves of steel… I don’t.