Become very knowledgeable on trading crude oil - futures io
futures io futures trading



Become very knowledgeable on trading crude oil


Discussion in Commodities

Updated
      Top Posters
    1. looks_one Tiffsgreta with 9 posts (4 thanks)
    2. looks_two dyst with 3 posts (2 thanks)
    3. looks_3 huracan with 2 posts (3 thanks)
    4. looks_4 Schnook with 2 posts (2 thanks)
      Best Posters
    1. looks_one Big Mike with 6 thanks per post
    2. looks_two Trailer Guy with 3 thanks per post
    3. looks_3 huracan with 1.5 thanks per post
    4. looks_4 Tiffsgreta with 0.4 thanks per post
    1. trending_up 5,138 views
    2. thumb_up 31 thanks given
    3. group 17 followers
    1. forum 28 posts
    2. attach_file 0 attachments




Welcome to futures io: the largest futures trading community on the planet, with well over 125,000 members
  • Genuine reviews from real traders, not fake reviews from stealth vendors
  • Quality education from leading professional traders
  • We are a friendly, helpful, and positive community
  • We do not tolerate rude behavior, trolling, or vendors advertising in posts
  • We are here to help, just let us know what you need
You'll need to register in order to view the content of the threads and start contributing to our community.  It's free and simple.

-- Big Mike, Site Administrator

(If you already have an account, login at the top of the page)

 
Search this Thread
 

Become very knowledgeable on trading crude oil

(login for full post details)
  #1 (permalink)
Kanab utah/usa
 
Experience: Beginner
Platform: None
Trading: Crude cl, ES, Options
 
Tiffsgreta's Avatar
 
Posts: 33 since Nov 2018
Thanks: 194 given, 19 received

I wonder if anyone has any advice on how I could become very knowledgeable on trading crude oil. I am thinking books or websites that I could read from the ground up. If anyone has any advice, I would love to hear it.
I have a futures account, and I have not invested in oil - it seems so volatile.
Happy Day to you!
Greta

Started this thread Reply With Quote
The following user says Thank You to Tiffsgreta for this post:

Can you help answer these questions
from other members on futures io?
Webinar: Finding your own way in trading w/Adam Grimes
The Elite Circle
Which kind of Blockvolume is visible? - order processing
Emini and Emicro Index
What blockvolume is visible? - order processing
NinjaTrader
Short Interest Ratio indicator?
ThinkOrSwim
Work with historical tcks data on MUltichart NET PowerLa …
MultiCharts
 
 
(login for full post details)
  #2 (permalink)
Gahanna, OH
 
Experience: Intermediate
Platform: Ninja Trader
Broker: AMP/CQG
Trading: ES, ZB, ZN
 
Posts: 20 since Oct 2009
Thanks: 27 given, 21 received

The obvious way to start is to trade the micro contract and do it first in simulation and when you feel more confident move to real money and then to the bigger contract. Assuming you have a base of trading knowledge, for example trading index futures, and just want to try crude, no amount of reading will get you profitable. Here is a strategy I used to run when I traded crude years ago: A few minutes before 10:30 Eastern on Wednesday (EIA report) place a buy order and a sell order (OCO) about 6 ticks away from price. Set your targets about 12 ticks away and enjoy! Now, this stopped working a long time ago, which is why, along with the fact that I had my face ripped off by crude several times, that I don't trade it anymore. But, things change and it might be working again, I haven't checked. I think it would be a fun thing to try again in sim mode.

Good luck in your trading!

Reply With Quote
The following 2 users say Thank You to huracan for this post:
 
(login for full post details)
  #3 (permalink)
Munich, Germany
 
Experience: Advanced
Platform: Sierra Chart
Broker: Interactive Brokers
Trading: liquid products
 
Schnook's Avatar
 
Posts: 426 since Jul 2016
Thanks: 837 given, 1,490 received


One good place to start would be the CME website, which offers a fairly comprehensive library of educational resources

https://www.cmegroup.com/trading/energy/crude-oil/light-sweet-crude.html

Reply With Quote
The following user says Thank You to Schnook for this post:
 
(login for full post details)
  #4 (permalink)
Kanab utah/usa
 
Experience: Beginner
Platform: None
Trading: Crude cl, ES, Options
 
Tiffsgreta's Avatar
 
Posts: 33 since Nov 2018
Thanks: 194 given, 19 received


Schnook View Post
One good place to start would be the CME website, which offers a fairly comprehensive library of educational resources

https://www.cmegroup.com/trading/energy/crude-oil/light-sweet-crude.html

Thank you Schnook - I have been looking at the CME website - just wish it covered with a lot more realistic trading examples.

Started this thread Reply With Quote
 
(login for full post details)
  #5 (permalink)
Kanab utah/usa
 
Experience: Beginner
Platform: None
Trading: Crude cl, ES, Options
 
Tiffsgreta's Avatar
 
Posts: 33 since Nov 2018
Thanks: 194 given, 19 received


huracan View Post
The obvious way to start is to trade the micro contract and do it first in simulation and when you feel more confident move to real money and then to the bigger contract. Assuming you have a base of trading knowledge, for example trading index futures, and just want to try crude, no amount of reading will get you profitable. Here is a strategy I used to run when I traded crude years ago: A few minutes before 10:30 Eastern on Wednesday (EIA report) place a buy order and a sell order (OCO) about 6 ticks away from price. Set your targets about 12 ticks away and enjoy! Now, this stopped working a long time ago, which is why, along with the fact that I had my face ripped off by crude several times, that I don't trade it anymore. But, things change and it might be working again, I haven't checked. I think it would be a fun thing to try again in sim mode.

Good luck in your trading!

Thank you so much huracan - you have provided me such a great idea. Ill probably try it sans realtime, and just check out what would happen on paper to give me a feel for it

BTW I have so money in gas options and a mini contract - I hear its the crack cocaine of futures. We'll see what I'll rip in that! Thanks again.

Started this thread Reply With Quote
 
(login for full post details)
  #6 (permalink)
Munich, Germany
 
Experience: Advanced
Platform: Sierra Chart
Broker: Interactive Brokers
Trading: liquid products
 
Schnook's Avatar
 
Posts: 426 since Jul 2016
Thanks: 837 given, 1,490 received

I referred you to the CME website because it's important to understand the basic mechanics of futures markets before diving in. If you truly have all that covered then I'd recommend some of the resources available right here on this website.

For example, this thread, The Scalper's Journey, describes in detail at least one method of scalping crude oil, and also covers in greater detail the bracket trade mentioned above.

But it's also important to find a method or style that suits your personality. Time-frame, for example, is one of those things that's very helpful to define ahead of time. The shortest time frames (market-making and scalping) have the highest relative transaction costs and extremely tough competition. Due to the high execution costs (commissions plus slippage) relative to profit targets of just a few ticks, scalpers need a very high win-rate in order to be successful. Moreover, an individual scalper must compete directly with the most sophisticated institutional traders in the game (HFTs, quant shops, hedge funds etc), making it an extremely challenging environment to succeed in. But if you can achieve success in this arena then the law of large numbers will provide you with some of the smoothest daily return profiles achievable in futures trading.

On the other end of the spectrum - swing trading - the competition is much thinner, transaction costs lower, and the setups perhaps a bit easier to identify, but the intraday P&L swings are also much greater and difficult for many traders to endure. Swing traders must be prepared for the possibility to have losing weeks and months at a time, even when trading a proven successful long term strategy. Again, this is not for everyone.

And then with your time frame defined you need to choose some sort of a style or analytical framework that not only suits your brain but also works. Price action trading, order flow, volume profile, or some unique combination are but some of the methods that traders apply to the crude oil market. You may wish to explore these concepts, watch some of the webinars on this site or read books and articles dedicated to these methods, or you may instead wish to simply watch and study the market independently in order to detect patterns and setups on your own.

It's a long process, one that is likely to take several years to gain the proficiency, but there's no shortage of information available for the enterprising student of the markets.

Reply With Quote
The following user says Thank You to Schnook for this post:
 
(login for full post details)
  #7 (permalink)
Brisbane Queensland Australia
 
 
Posts: 206 since Aug 2017
Thanks: 148 given, 338 received

Plenty to be learnt in here , big read though and you need to sort through the sh!t


Reply With Quote
The following user says Thank You to Ozquant for this post:
 
(login for full post details)
  #8 (permalink)
Elite_Member
Wiltshire, United Kingdom
 
Experience: Beginner
Trading: US Equity Index Futures
 
matthew28's Avatar
 
Posts: 957 since Sep 2013
Thanks: 2,370 given, 1,719 received


Tiffsgreta View Post
Thank you so much huracan - you have provided me such a great idea. Ill probably try it sans realtime, and just check out what would happen on paper to give me a feel for it

https://us.econoday.com/byweek.asp?cust=us
10:30am Eastern Wednesday, (11am Thursday when Monday is a holiday), is the big major news event for Crude every week. Look at a depth of market and you will see market depth drop to a fraction of normal size as people pull their orders before the report. It might look good on sim with instant fills depending on your platform but in reality you would likely get big slippage on your entry stop above or below the market. So when looking at your paper results, or a graph afterwards, don't assume you would have got filled at +6 or -6 ticks. Presumably huracan says it stopped working because of the whipsaws in price after entry.

Trading, ideally structured, is a vehicle for expanding consciousness, not damaging it. - Brett Steenbarger
Visit my futures io Trade Journal Reply With Quote
The following user says Thank You to matthew28 for this post:
 
(login for full post details)
  #9 (permalink)
Singapore
 
Experience: Intermediate
Platform: NinjaTrader, Sierra, MT4
Trading: ES, CL, NG, XAUUSD, USDJPY
 
dyst's Avatar
 
Posts: 107 since May 2015
Thanks: 73 given, 89 received

What was the slippage like back them? I tried something similar before in 2019 and ended up with big slippage... that ate into the profit


huracan View Post
The obvious way to start is to trade the micro contract and do it first in simulation and when you feel more confident move to real money and then to the bigger contract. Assuming you have a base of trading knowledge, for example trading index futures, and just want to try crude, no amount of reading will get you profitable. Here is a strategy I used to run when I traded crude years ago: A few minutes before 10:30 Eastern on Wednesday (EIA report) place a buy order and a sell order (OCO) about 6 ticks away from price. Set your targets about 12 ticks away and enjoy! Now, this stopped working a long time ago, which is why, along with the fact that I had my face ripped off by crude several times, that I don't trade it anymore. But, things change and it might be working again, I haven't checked. I think it would be a fun thing to try again in sim mode.

Good luck in your trading!


Numbers work... Magic lies in the numbers
Reply With Quote
 
(login for full post details)
  #10 (permalink)
Singapore
 
Experience: Intermediate
Platform: NinjaTrader, Sierra, MT4
Trading: ES, CL, NG, XAUUSD, USDJPY
 
dyst's Avatar
 
Posts: 107 since May 2015
Thanks: 73 given, 89 received


Just be careful if you are trading QM. Slippage can be high there and price can be 0.20 - 0.30 higher or lower than the full sized CL contract at the same time. Happened to me last year... on QM it hit my stop since API resulted in big spike but on CL it did not even hit that price (max it went was 0.30 lower than the QM price).

Also, during the DOHA week years ago QM opened below support while CL opened above support... big difference. Then I learnt the hard way that we should be analysing CL when trading crude since it is the more liquid of the 2. CL, not QM chart will show you the correct TA to take for trades (though you can enter the trades via QM).

Good luck and happy crude trading




Tiffsgreta View Post
Thank you Schnook - I have been looking at the CME website - just wish it covered with a lot more realistic trading examples.


Numbers work... Magic lies in the numbers
Reply With Quote
The following 2 users say Thank You to dyst for this post:
 
(login for full post details)
  #11 (permalink)
Gahanna, OH
 
Experience: Intermediate
Platform: Ninja Trader
Broker: AMP/CQG
Trading: ES, ZB, ZN
 
Posts: 20 since Oct 2009
Thanks: 27 given, 21 received


dyst View Post
What was the slippage like back them? I tried something similar before in 2019 and ended up with big slippage... that ate into the profit

By 2019 I had stopped trading it, but when I traded it successfully the bid-ask spread was reasonable. I don't remember the slippage being a problem then. I had this strategy automated in NT7 and it worked for a while (years), until it didn't.

Reply With Quote
The following user says Thank You to huracan for this post:
 
(login for full post details)
  #12 (permalink)
Singapore
 
Experience: Intermediate
Platform: NinjaTrader, Sierra, MT4
Trading: ES, CL, NG, XAUUSD, USDJPY
 
dyst's Avatar
 
Posts: 107 since May 2015
Thanks: 73 given, 89 received

Interesting. Btw I tried this last yr and I ever had 10 ticks slippage triggered on my sell stop trigger order... for 1 EIA report

Ever since that happened, I kinda stopped this strategy too so I have no clue how it performs now either

ps: before that big slippage happened, I was also thinking that *maybe* I figured an easy, foolproof way to make money on EIA but it seems the MM knows about our game and has put an end to it lol.




huracan View Post
By 2019 I had stopped trading it, but when I traded it successfully the bid-ask spread was reasonable. I don't remember the slippage being a problem then. I had this strategy automated in NT7 and it worked for a while (years), until it didn't.


Numbers work... Magic lies in the numbers
Reply With Quote
 
(login for full post details)
  #13 (permalink)
Boise, Idaho/USA
 
Experience: Advanced
Platform: Ninja Trader 8
Broker: IB, NinjaTrader Brokerage, Schwab
Trading: ES
 
Posts: 179 since Sep 2014
Thanks: 57 given, 329 received

Good thing to be aware of is who the other players are. This is the proverbial African watering hole and you are a chipmunk. The hedge funds seem to get an idea and go big while the huge commodity houses play amazing games showing us that hedge funds are sometimes the dumb money.

Sign up with John Kemp at Reuters, the London based energy reporter. It is free. He posts a lot including COT positioning.

Reply With Quote
The following 3 users say Thank You to Trailer Guy for this post:
 
(login for full post details)
  #14 (permalink)
Montreal, QC, Canada
 
Experience: Beginner
Platform: Jigsaw Daytradr
Broker: Tradovate
Trading: ZB & UB
 
lexknight's Avatar
 
Posts: 61 since Apr 2020
Thanks: 46 given, 93 received

On top of what others mentioned -

It won't necessarily help with your trading per se, but if you are really interested in the oil industry read "Oil 101"
by Morgan Downey. Some of the chapters are pretty heavy about oil specifically and what its made up of, little too much for me, but others about how its drilled etc are interesting.

As well I recommend tracking Tracy Shugart, goes by @chigrl on twitter. Shes been on plenty of podcasts, shes an oil trader I feel is good for getting some info from. Won't make you a pro oil trader, but if you are a fan of podcasts and want to listen about oil trading tales etc. and a traders journey, go dig up some of those.

Reply With Quote
The following user says Thank You to lexknight for this post:
 
(login for full post details)
  #15 (permalink)
Kanab utah/usa
 
Experience: Beginner
Platform: None
Trading: Crude cl, ES, Options
 
Tiffsgreta's Avatar
 
Posts: 33 since Nov 2018
Thanks: 194 given, 19 received


lexknight View Post
On top of what others mentioned -

It won't necessarily help with your trading per se, but if you are really interested in the oil industry read "Oil 101"
by Morgan Downey. Some of the chapters are pretty heavy about oil specifically and what its made up of, little too much for me, but others about how its drilled etc are interesting.

As well I recommend tracking Tracy Shugart, goes by @chigrl on twitter. Shes been on plenty of podcasts, shes an oil trader I feel is good for getting some info from. Won't make you a pro oil trader, but if you are a fan of podcasts and want to listen about oil trading tales etc. and a traders journey, go dig up some of those.

These are both excellent tips Lexnight - thank you for this info!

Started this thread Reply With Quote
The following user says Thank You to Tiffsgreta for this post:
 
(login for full post details)
  #16 (permalink)
Kanab utah/usa
 
Experience: Beginner
Platform: None
Trading: Crude cl, ES, Options
 
Tiffsgreta's Avatar
 
Posts: 33 since Nov 2018
Thanks: 194 given, 19 received


Trailer Guy View Post
Good thing to be aware of is who the other players are. This is the proverbial African watering hole and you are a chipmunk. The hedge funds seem to get an idea and go big while the huge commodity houses play amazing games showing us that hedge funds are sometimes the dumb money.

Sign up with John Kemp at Reuters, the London based energy reporter. It is free. He posts a lot including COT positioning.

Thanks to you trailer guy for the great tips!

Started this thread Reply With Quote
 
(login for full post details)
  #17 (permalink)
shanghai
 
 
Posts: 10 since Jun 2016
Thanks: 2 given, 10 received


Tiffsgreta View Post
I wonder if anyone has any advice on how I could become very knowledgeable on trading crude oil. I am thinking books or websites that I could read from the ground up. If anyone has any advice, I would love to hear it.
I have a futures account, and I have not invested in oil - it seems so volatile.
Happy Day to you!
Greta

ok it's been a month. How much knowledge have you gained? haha

Reply With Quote
 
(login for full post details)
  #18 (permalink)
Kanab utah/usa
 
Experience: Beginner
Platform: None
Trading: Crude cl, ES, Options
 
Tiffsgreta's Avatar
 
Posts: 33 since Nov 2018
Thanks: 194 given, 19 received


bob666s View Post
ok it's been a month. How much knowledge have you gained? haha

I'll keep this short and sweet - I'm reading a book called 'Oil 101' that someone kindly suggested and I do like background on anything I do. As to making trades - not yet. Still don't feel the knowledge bubbling over bob666s. I'm not a scalper or a day trader but a long term swing trader. I like option spreads, which give you a deal more flexibility and time to watch the market.

Started this thread Reply With Quote
 
(login for full post details)
  #19 (permalink)
shanghai
 
 
Posts: 10 since Jun 2016
Thanks: 2 given, 10 received

I appreciate your frank reply. I trade energies for a family office. PM me, I'll give you some ideas on how to trade oil profitable in the long run. (it's not technical analysis).

Reply With Quote
 
(login for full post details)
  #20 (permalink)
Site Administrator
Swing Trader
Data Scientist & DevOps
Manta, Ecuador
 
Experience: Advanced
Platform: My own custom solution
Trading: Emini Futures
 
Big Mike's Avatar
 
Posts: 49,779 since Jun 2009
Thanks: 32,306 given, 97,566 received

Why does it need to be a direct message? Why not just make a normal post?

bob666s View Post
I appreciate your frank reply. I trade energies for a family office. PM me, I'll give you some ideas on how to trade oil profitable in the long run. (it's not technical analysis).

Sent using the futures.io mobile app

We're here to help -- just ask

For the best trading education, watch our webinars
Searching for trading reviews? Review this list

Follow us on Twitter, YouTube, and Facebook

Support our community as an Elite Member:
https://futures.io/elite/
Follow me on Twitter Visit my futures io Trade Journal Reply With Quote
The following 6 users say Thank You to Big Mike for this post:
 
(login for full post details)
  #21 (permalink)
Market Chamois
Chicago, IL
 
Experience: None
Platform: NT8,NT7,TWS
Broker: InteractiveBrokers, S5T, IQFeed
Trading: The one I'm creating in the present....Index Futures mini/micro, ZF
 
Blash's Avatar
 
Posts: 2,270 since Nov 2011
Thanks: 7,180 given, 4,404 received


Tiffsgreta View Post
I wonder if anyone has any advice on how I could become very knowledgeable on trading crude oil. I am thinking books or websites that I could read from the ground up. If anyone has any advice, I would love to hear it.
I have a futures account, and I have not invested in oil - it seems so volatile.
Happy Day to you!
Greta

Be aware of Crude oil inventory reports. OPEC meetings...... https://www.opec.org/opec_web/en/311.htm

I use https://www.tradethenews.com/ their squawk.... absolutely the best IMO.

Your biggest advantage trading CL is going to be account size. You have to be able to withstand some heat.

Don't worry about placing wavy lines on your chart. Try to look at the price action and its volume as either going on sale or getting expensive.

What do you buy and sell in your regular life? Why do you buy and sell when you do?

Ron

...My calamity is My providence, outwardly it is fire and vengeance, but inwardly it is light and mercy...
The steed of this Valley is pain; and if there be no pain this journey will never end.
Buy Low And Sell High (read left to right or right to left....lol)
Follow me on Twitter Visit my futures io Trade Journal Reply With Quote
The following user says Thank You to Blash for this post:
 
(login for full post details)
  #22 (permalink)
Site Moderator
Sarasota FL
 
Experience: Advanced
Platform: Sierra Chart
Trading: ES, YM
 
bobwest's Avatar
 
Posts: 6,359 since Jan 2013
Thanks: 48,488 given, 21,309 received


Tiffsgreta View Post
I wonder if anyone has any advice on how I could become very knowledgeable on trading crude oil. I am thinking books or websites that I could read from the ground up. If anyone has any advice, I would love to hear it.
I have a futures account, and I have not invested in oil - it seems so volatile.
Happy Day to you!
Greta

It is volatile enough to tear your head right off without warning. You should know that it attracts a lot of people who see an opportunity but do not see the risk. It's an easy thing to go broke in, and quickly.

If you're just starting in futures, it may be wiser to try something else first. Stock index futures (especially ES, the S&P futures contract, and actually MES, the micro version of the S&P contract) are slower and sort of boring by comparison... and are far safer and may be a better initial choice. I would look around a little first.

I don't mean to discourage you if oil is definitely your choice.... Well, actually, I do mean to discourage you , at least about oil. My suggestion is to be extremely cautious if oil is what you try the first time out. Money gets lost in oil very fast.

I would look around this forum and absorb as much as you can, about oil and also about futures trading in general. Also, I would avoid any offers from anyone to show you something special that will help you, if it is not free or low-cost and publicly available. It will help them, not you.

Bob.

When one door closes, another opens.
-- Cervantes, Don Quixote
Visit my futures io Trade Journal Reply With Quote
The following 2 users say Thank You to bobwest for this post:
 
(login for full post details)
  #23 (permalink)
Kanab utah/usa
 
Experience: Beginner
Platform: None
Trading: Crude cl, ES, Options
 
Tiffsgreta's Avatar
 
Posts: 33 since Nov 2018
Thanks: 194 given, 19 received

Thank you Bob! You have posted me some great thought for action. Much appreciation for you
Greta

Started this thread Reply With Quote
The following user says Thank You to Tiffsgreta for this post:
 
(login for full post details)
  #24 (permalink)
Kanab utah/usa
 
Experience: Beginner
Platform: None
Trading: Crude cl, ES, Options
 
Tiffsgreta's Avatar
 
Posts: 33 since Nov 2018
Thanks: 194 given, 19 received


Blash View Post
Be aware of Crude oil inventory reports. OPEC meetings...... https://www.opec.org/opec_web/en/311.htm

I use https://www.tradethenews.com/ their squawk.... absolutely the best IMO.

Your biggest advantage trading CL is going to be account size. You have to be able to withstand some heat.

Don't worry about placing wavy lines on your chart. Try to look at the price action and its volume as either going on sale or getting expensive.

What do you buy and sell in your regular life? Why do you buy and sell when you do?

Ron

Great info Ron - I am dabbling in trading and have stuck mostly to grains and a nat gas spread. still working on my own direction. thank you!

Started this thread Reply With Quote
The following user says Thank You to Tiffsgreta for this post:
 
(login for full post details)
  #25 (permalink)
Brussels+Belgium
 
 
Posts: 5 since Aug 2020
Thanks: 0 given, 1 received

If you are still open for more options, you try fxview. They post crude oil fundamentals on socials like facebook. Also they post charts with resistance and support levels. Can be really helpful for tracking events.

Reply With Quote
The following 2 users say Thank You to Vroon5 for this post:
 
(login for full post details)
  #26 (permalink)
Kanab utah/usa
 
Experience: Beginner
Platform: None
Trading: Crude cl, ES, Options
 
Tiffsgreta's Avatar
 
Posts: 33 since Nov 2018
Thanks: 194 given, 19 received

Thank you Vroon5 - I appreciate any all input!
All my best
Greta

Started this thread Reply With Quote
 
(login for full post details)
  #27 (permalink)
Minoqua Wi USA
 
 
Posts: 71 since Sep 2019
Thanks: 40 given, 39 received


Blash View Post
Be aware of Crude oil inventory reports. OPEC meetings...... https://www.opec.org/opec_web/en/311.htm

I use https://www.tradethenews.com/ their squawk.... absolutely the best IMO.

Your biggest advantage trading CL is going to be account size. You have to be able to withstand some heat.

Don't worry about placing wavy lines on your chart. Try to look at the price action and its volume as either going on sale or getting expensive.

What do you buy and sell in your regular life? Why do you buy and sell when you do?

Ron

Completely agree on price action and volume - nice analogy "either going on sale or getting expensive"

Reply With Quote
The following user says Thank You to Mozart2112 for this post:
 
(login for full post details)
  #28 (permalink)
Irvine, CA
 
Experience: Intermediate
Platform: Sierra Charts
Broker: AMP Futures, Denali
Trading: ES, SI, GC, CL
 
Posts: 15 since Apr 2019
Thanks: 11 given, 11 received


Blash View Post
Be aware of Crude oil inventory reports. OPEC meetings...... https://www.opec.org/opec_web/en/311.htm

I use https://www.tradethenews.com/ their squawk.... absolutely the best IMO.

Your biggest advantage trading CL is going to be account size. You have to be able to withstand some heat.

Don't worry about placing wavy lines on your chart. Try to look at the price action and its volume as either going on sale or getting expensive.

What do you buy and sell in your regular life? Why do you buy and sell when you do?

Ron

I agree Ron you gotta be able to withstand the heat from time to time. CL is it's own beast and technical analysis can go right out the window. I use to trade the inventory report and it was almost to say free money. Since the oil crash in April I just don't see the EIA report like in the past and have pretty much ignored them. I'll go in from time to time on any given day on an impulse or responsive PA (context in mind) other than that I've been treading very differently since then.

Follow me on Twitter Reply With Quote
The following user says Thank You to TraderGee for this post:
 
(login for full post details)
  #29 (permalink)
milano italy
 
 
Posts: 2 since Feb 2016
Thanks: 0 given, 1 received


TraderGee View Post
I agree Ron you gotta be able to withstand the heat from time to time. CL is it's own beast and technical analysis can go right out the window. I use to trade the inventory report and it was almost to say free money. Since the oil crash in April I just don't see the EIA report like in the past and have pretty much ignored them. I'll go in from time to time on any given day on an impulse or responsive PA (context in mind) other than that I've been treading very differently since then.

Yes, be cautious.

Reply With Quote
The following user says Thank You to futok2 for this post:


futures io Trading Community Traders Hideout Commodities > Become very knowledgeable on trading crude oil


Last Updated on September 19, 2020


Upcoming Webinars and Events
 

NinjaTrader Indicator Challenge!

Ongoing
 

Battlestations! Show us your trading desk - $1,500 in prizes!

March
 

Importance of Finding Your Own Way w/Adam Grimes

Elite only
 

Journal Challenge w/Jigsaw

April
     



Copyright © 2021 by futures io, s.a., Av Ricardo J. Alfaro, Century Tower, Panama, +507 833-9432, info@futures.io
All information is for educational use only and is not investment advice.
There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
no new posts