Exposing a large one!

Racing trading

It was a pretty good day on paper with a profit shown in each of the ten races that I traded (not going to bother with the evening stuff) although I can’t really feel happy with myself as I took a couple of risks today that I know deep down I shouldn’t. 

In one race, it went in-running before I could trade out and I was staring at a red book of fifty quid. Instead of trading out for a loss, I left my order there and it eventually got matched. All well and good you might think, but for about half a minute, I had the guts of one large (€1000) exposed and if the price had have kept moving away, I would have been screwed. Not sure why I did it really and I should know better. Thankfully, I got away with it but it’s not good practice really. 

I had quite a bit to do today and I only started trading late - so the overall profit of €112.13 is most welcome, even though I was a little bold in getting it. 

Oil

I’ve been doing well predicting the price of oil on paper lately so I went ahead and bought some at $116. It’s not much, only a couple of quid and I have set a stop loss for if it drops to $99. Why do I think the price will rise? Well, I just think that people have under-estimated how long this whole business in Libya and the middle east could last. 

It was funny, because a few days ago when it looked like Gadaffi was about to fall, the Americans were throwing a few shapes and talked about helping out the rebels. Now, however, he’s hung on longer than expected and they’ve went quiet on the issue.

Although they obviously have an interest in oil, there’s no way they want to get into another Afghanistan or Iraq situation where they have to oversee a new administration (while being attacked) and I think they are best advised to stay out of this one for now. I see the price of US crude rose again today to a two year high and although I haven’t yet traded that, I’m keeping a close eye on it.

Brent Crude daily chart:

Poker 

Having the lads around tomorrow night for another poker session. Very much looking forward to that as I haven’t played since the night that I learned. I’m still very much at a learning stage and have to have a print-off of the hands beside me but I’m getting the hang of it. We keep stakes to a fun level and it’s a great way to have a cheap-ish evening in.

Going to head out for a run shortly as I woke up late (I wasn't hungover, honest ) and didn't go out this morning.