Crude oil

Averaging Down: after taking profit on several shorts I sold pre-Brexit, I decided to start a new series long at $49.69 on June 23. Despite falling to $46.80 by June 27, it recovered to $49.60 by June 29, where I was able to close out my series in nice profit because I averaged down. Then I decided to short at $49.73 and $50.00 the same day. By the time July 18 rolled around, I started a new series long at $45.77 which had me in the deepest hole since April 18. I had to book a $10,180 loss, which was great considering I was down over $30,000 at one point. And I was able to minimize my losses because of averaging down. Which brings me to my latest series. I started long at $43.06 on August 9, but it fell to $41.51 by the next day, where I found myself down about $8,000 with 10 longs averaging $42.33. Suffice it to say I had my best profit in a series this year by averaging down to add 2 long at $41.51 and closing out at $44.71.

Comments

Popular posts from this blog

Dixon Technologies (India) Limited IPO (Dixon IPO) Detail

Link your Aadhaar card in simple steps click on the link given in below

Mahindra Logistics Limited IPO , Today is the last day for subscription