The US-Iran War is Escalating—So Why Did I Just Close My Long Oil Trades?
First, let me update you on my recent trading moves. I haven't been particularly active in equities lately; instead, I've maintained a light short position on the Euro and locked in some profits from a crude oil bull calendar spread (buying the near month and selling the deferred month three months out). Currently, my dprofits are entirely concentrated in my futures account. Today, I closed my crude oil calendar spread position, booking a modest profit over the past few days. Remember our trading rule? "Rest during minor volatility, rest during extreme volatility, and no rest when there is no volatility". When a major risk event triggers massive market swings, our best approach in the futures market is to minimize our trade frequency, increase our win rate, and appropriately reduce our pos