I won't risk much on this trade.
Long Natural Gas 19.32
Started by
skott
, Oct 21 2019 11:01 AM
10 replies to this topic
#2
skott
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Posted 21 October 2019 - 11:02 AM
That's the price for UNG, you could also use 3XETF UGAZ
#3
robo
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Posted 22 October 2019 - 12:31 PM
That's the price for UNG, you could also use 3XETF UGAZ
I trade FCG at Vanguard..... Getting close......
https://stockcharts....286&a=694729127
Edited by robo, 22 October 2019 - 12:31 PM.
" “There is only one side to the stock market; and it is not the bull side or the bear side, but the right side” Jesse L. Livermore
#4
skott
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Posted 22 October 2019 - 09:26 PM
Good deal. Ung and ugaz oth lose some oomph compared to the actual commoodity
Edited by skott, 22 October 2019 - 09:27 PM.
#5
skott
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Posted 24 October 2019 - 06:56 PM
Nat gas already up 1 % since I bought October 21st
Edited by skott, 24 October 2019 - 07:00 PM.
#6
skott
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Posted 26 October 2019 - 12:46 PM
robo, I think I'm going to go with FCG too. thanks for the reminder.
#7
skott
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Posted 29 October 2019 - 09:43 AM
up 9% at the moment overall on UNG. Was too late to switch to FCG. I'll be moving my stop up to protect much of my profit. NatGas
is right at a previous High.
is right at a previous High.
#8
skott
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Posted 29 October 2019 - 05:03 PM
so much going on in my life lately, so busy, so I decided to use a trailing mechanical stop 3% below the traded high. I only put this on 20% of my position as I don't trust these stops. They took right pretty darn quick and that was the exact low from the high of the day. Still long 80% of UNG. I may sell soon because it's possible I will add leverage back on to my gold miner positions..... mostly likely for the leverage I'll use GDX
#9
skott
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Posted 30 October 2019 - 12:48 PM
glad I didn't go with FCG or switch to it mid-trade. it has underperfomed UNG. NatGas is a difficult thing to trade. All commodities are really. Nothing can be trusted any more and it's really a guessing game but natgas itself looks to have set up a bottoming pattern with an inverse head and shoulders pattern and we are banging on the neckline to break up to $3.40 which would be an additional gain of 25% from here
Edited by skott, 30 October 2019 - 12:49 PM.
#10
skott
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Posted 30 October 2019 - 08:52 PM
natgas build report is due tomorrow morning I believe. Apparently demand is up, colder weather is expected at least the next couple weeks maybe longer. I am no good at reading the COT report for natgas but apparently the hedge funds are short alot. key technical juncture here. I see this as an impulsive wave 1 that ended with the sept high. pulled back into a higher low for wave 2 and were are in a larger wave three now. For a scary chart, look at a monthly chart of natgas going back 25 years. One year it went up from $2 to $10 and it's had some huge declines too. The best way to play this if we are not in for a super crash is to just ride it into January 2020. doubt I'll have the patience for that
