Day Trading Brent Crude - 21st May - 25th May

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ceydababy

Experienced member
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Hi there !

Figured I would start a thread on day trading Oil, there seems to be a distinct lack of info and forums on Oil. I find oil very nice to trade, it seems to trend very well, high percentages of breakouts are profitable and some of the moves are unbelievable !

I would be interested to see who else is day trading, or maybe even taking longer term positions.

I currently use a spread betting account but would like to jump to the live contracts eventually. Is anyone on this forum trading physical contracts ??

Trades today (Brent Crude July)

Long at 69.71 Closed 70.11 = + 40 points (35 nett of spread)

Short at 69.64 Closed 69.27 = +37 points (32 nett of spread)

I use a support/resistance, EMA/SMA system. Monitoring Bollinger Bands and MACD too.
 
ceydababy said:
Hi there !

Figured I would start a thread on day trading Oil, there seems to be a distinct lack of info and forums on Oil. I find oil very nice to trade, it seems to trend very well, high percentages of breakouts are profitable and some of the moves are unbelievable !

I would be interested to see who else is day trading, or maybe even taking longer term positions.

I currently use a spread betting account but would like to jump to the live contracts eventually. Is anyone on this forum trading physical contracts ??

Trades today (Brent Crude July)

Long at 69.71 Closed 70.11 = + 40 points (35 nett of spread)

Short at 69.64 Closed 69.27 = +37 points (32 nett of spread)

I use a support/resistance, EMA/SMA system. Monitoring Bollinger Bands and MACD too.
Click to expand...

Brent is an absolute corker.........glad someone else sees the light - I'm too timid to short it but love to buy the dips.... on a swing trade
 
Trades today.....

Got short at 69.95 closed out at 69.64 (26 points nett of spread)

Long at 70.05 (stop at 69.85) currently running....

You a right....the light is blinding....it trends like a demon and whilst there is more risk than trading the FTSE I can take my FTSE DAILY TARGET in one 15 minute trade on oil !

I am loving it !!!

Let's see who else is involved....Anyone else out there ???
 
ceydababy said:
Got short at 69.95 closed out at 69.64 (26 points nett of spread)

Long at 70.05 (stop at 69.85) currently running....

You a right....the light is blinding....it trends like a demon and whilst there is more risk than trading the FTSE I can take my FTSE DAILY TARGET in one 15 minute trade on oil !

I am loving it !!!

Let's see who else is involved....Anyone else out there ???
Click to expand...

Hi Ceydababy,

I almost shorted oil today but erred on the side of caution. I think the indeces are going to sink and oil will fall. Still considering shorting it but waiting for the markets to take a tumble.

Do you have any views on the market or are you purely a Technical trader?
 
Looks like could be a big day...

Brent forming second inside day in a row (so far....) and so something is probably about to give .... Not sure which way but will use tuesday's range to guide me roughly 7075 and 6940.......

Not sure whether this move will come before the inventories @ 3.30pm but you never know... ;)
 
Atilla said:
Hi Ceydababy,

I almost shorted oil today but erred on the side of caution. I think the indeces are going to sink and oil will fall. Still considering shorting it but waiting for the markets to take a tumble.

Do you have any views on the market or are you purely a Technical trader?
Click to expand...

Sorry for the late reply...was busy yesterday. I trade purely from the chart. I would go as far as to say I don't like to try and guess or read anyone's opinion on what is going to happen tomorrow. It distorts my ability to trade the move I am in. If I think the market is going to fall I will not take profitable long positions.

No trades for me today
 
ceydababy said:
Long Brent Crude July @71.00 (stop 70.80)
Click to expand...


Hi ceydababy,

In contrast I have my ears and eyes open like radar collecting all info.

I keep reading reports and articles about will US or Israel attack Iran? I don't understand one minute they are back slapping next they are discussing attacks.

Anyhow news is of an alarming nature so perhaps good for your long call.


Good luck.
 
Atilla said:
Hi ceydababy,

In contrast I have my ears and eyes open like radar collecting all info.

I keep reading reports and articles about will US or Israel attack Iran? I don't understand one minute they are back slapping next they are discussing attacks.

Anyhow news is of an alarming nature so perhaps good for your long call.


Good luck.
Click to expand...

I think you can get an overload of information, as you have quite rightly pointed out...one minute they are back slapping the next they are discussing attacks. Very difficult to judge how these contradicting reports effect the oil price. I like to try and make judgements based on price and a few other TA Factors. However, just got stopped out !! Out 20 points on the first trade of the day.
 
next plan of action.....

Crazy move I know....hate to do this, but reversed my position....now [email protected] stop in @71.03....Let's see what happens....my system very rarely throws me two moves (whipsawing) me in the market like this....when it does I have to follow.

I am hoping for a break on the shortside under 70.70, if this area of support gives way I will hopefully be taking profit. On the long side I will be looking at breaks over 71.20.

Right....let's see what's going to happen here..
 
next move

Trade 20 points in clear profit....now move my stop to lock in a 'free' trade.
 
in the 30+ points profit zone now......

OK....next area of resistance on my 10 minute is at 70.40....A break here will hopefully see a run down to 70.00. I have reservations about it breaking here, but am trying not to be biased..will trade it how the chart shows me it is, rather than how my mind is telling me it is. If it breaks 40 I am seeing a slight sticky area around 70.20.

Still short and sitting on my hands..
 
65 points profit now.....

make that 80 points !!! This baby is coming right off. OK....not getting greedy just closed out at 69.88....

+95 points

+70 points up on the day....with the loser I had earlier (false signal)

Right.... that is going to pay for a few pints in the pub tonight !!!
 
Any other Oil traders out there ???

OR am I posting to myself....I see there a quite a few views....but very little commentry
 
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