lost 20k in a week trading oil futures tell me why not to an hero?

>>1037424
Sorry I've got nothing

If Dubs don't do it

>>1037424

Oil is going to $20 then it's going up to 60.

If 20,000$ is a lot to you, then you shouldn't be investing with $200,000 in one position.

Hey guys, I won 20k this week trading oil futures.

Some sucker was just giving away money.

>>1037424
>being good with money
>trading futures

Pick one.

Im down 350 bucks due to the oil mess.

It will bounce back, just wait.

>>1037496
>$350
Meme trader detected

Can anyone give me a reason not to invest in oil?
The price is expected to be around 60$ dollars by 2020 and could go back to 80$ again I could make a 50%profit in less than 5 years

>>1037509
well, if you can spare the money and you are willing to take the risk and not give a single fuck about what happens the next 5 years id say go for it. But dont put everything into one trade, because if you sit around every day, bored as fuck and look at possible tiny ups and downs you are going to literally lose your mind and either panic sell if it hits 19 or sell for gainz if it hits 21 and that will either way fuck it up for you

>>1037424

what trade exactly? use this as a learning experience. Read about Owen Li. That will make you feel better. He lost like $60 billion in 2 weeks on one bad trade.

>>1037531

bought 5 contracts at 35.9, it bounced to 36.3 after API report, held it overnight and went to sleep, wake up 6k down and it's been a shit storm since then

lesson is never hold futures overnight unless you're monitoring them

down to 1 contract and 6k in my account, not looking good

>>1037540
what was behind the decision to buy in the first place?

>>1037424
at least go play the lottery first

>>1037540
6k is a drop in the bucket if you actually have enough money to hold futures overnight.

File: images?q=tbn:ANd9GcTM5y68JWVThJLo2AWrvVPP3_2uq7W2MsiWqZcEv-Zu7Dxrc4oN.jpg (7KB, 254x198px) Image search: [Google]

7KB, 254x198px

>>1037424
i could say life is great, just go to work pay your debt back and start saving money for another run.

>Life is shit

you should of had a stop loss in...I never trade futures without stop losses

>>1037565
Kek

>>1037531

He lost 60-100 million not 60 billion.

>>1037558

thought oil bottomed and would break out to $40, terrible mistake

>>1037780

yeah i know, my broker has a shit platform so i use mental stop losses

>>1037836

Yep, my mistake good catch. The SEC docs are a good read.

>>1037941
>my broker has a shit platform so i use mental stop losses

eh? what broker doesn't allow stop losses? name them, your story sounds dubious...

most FCMs allow multiple front ends, TT, CQG, ninja trader etc..etc..

>>1037979

ib

but i don't use tws, it's garbage

Oil will trade 20-40$/bbl for the foreseeable future. Thats your window. Only when demand picks up significantly will oil break that window. Might take a couple of years and it could be set back if the problems in China are serious. Its all going to ride on further industrialization in China and India. If these countries continue to show strong demand growth then we could see extremely high prices in 5 years or so because most of the worlds oil is coming from old fields where production cant be increased very much.

Im convinced that this will not be as bad as the 80s because the production/consumption is not that out of balance. For all the talk about this glut we are still only producing 1 to 2 percent more oil than is being consumed. Compare that to the 80s where there were points where production exceeded consumption by 20 percent.

>>1037540

You're an idiot for holding a bearish security overnight and expecting to get lucky

You weren't trading, we call that gambling

>>1039053
Told.

A fool and his money...

>>1038066

don't pretend like you know what your talking about.

>>1039053
Someone has to hold it overnight, anon

>TFW nogf to hold overnight

>>1039072
Hey, this guy has psychic powers. Ask him what the winning lottery numbers will be

how can I make money off of this?

>>1037540
>went to sleep
>didn't use meth to stay up for 3 days
pleb