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TFC Commodity Trading Forum

Re: LNG - I remember this one!/One More too! *PIC*

Yes I've traded it a few times on and off. In hindsight of course I should have kept it. But I guess I and everyone else should have kept our old classic cars we all owned over the years too. Hindsight is exactly that. The problem with holding anything is so many hold on to their losers and they ultimately destroy the trading account like holes in the money bucket. I don't hold anything for that reason. Seen too many traders go broke holding on to their losers and forgetting about them as they erode the account balance. Last guy I know that did that lost 250k and had nothing left to trade with. But all the while he seemed to be making profitable trades. Losing positions are like a cancer to the account. So with today's volatility and soaring and crashing markets grabbing what you can when it looks good and getting back into cash seems to work. Here one that is worth watching. The ETF:FCG that is a basket of 30 Nat Gas stocks. Keep in mind many NG companies have 'pre-sold" NG at much higher prices with signed contracts and lower prices can actually be helpful to their bottom line. Regardless of the fundamentals, watch for a breakout over 20.18 which is the neckline of this bullish Inverse Head & Shoulder pattern to suggest higher prices. I keep an eye on it but so far no cigar. I considered a trade at the 17.50 line but passed on that as that wasn't much to hang my hat on. Not a lot of beta to bet on like GLNG and could be a boring trade but does have some potential.