Crude Oil Trading

[jondowns1259]

Hey Guys,

I'm interested in trying my hand at crude oil. Is there anything specific I should know about this market?
Any good information or books available on the topic?
Would a price action system be effective?

Regards,
Jonathan.

 

[LiamH]

Hey Guys,

I'm interested in trying my hand at crude oil. Is there anything specific I should know about this market?
Any good information or books available on the topic?
Would a price action system be effective?

Regards,
Jonathan.

Trading Price action should work on any market provided you know what you're doing... Careful though, Oil can be nuts at the best of times!!

I've seen a good website mentioned for trading oil but I can't think what it is off the top of my head... maybe 'logical trader' ? Maybe worth a google search

 

[LiamH]

Trading Price action should work on any market provided you know what you're doing... Careful though, Oil can be nuts at the best of times!!

I've seen a good website mentioned for trading oil but I can't think what it is off the top of my head... maybe 'logical trader' ? Maybe worth a google search

Ignore that comment about 'logical trader' .. Just done a quick search myself and I don't think it has anything to do with Oil...

If I remember what the site was i'll let you know..

 

[intradaybill]

Hey Guys,

I'm interested in trying my hand at crude oil. Is there anything specific I should know about this market?
Any good information or books available on the topic?
Would a price action system be effective?

Regards,
Jonathan.

Yes,

Organization of the Petroleum Exporting Countries

 

[Hershey]

Ive been looking into this to, with prices tumbling and opec thinking of cutting production, it looks very profitable now and in the long run. To get into this though, my understanding is you need huuge amounts of money, possibly hundreds of thousands. Sadly you cant trade single barrels of crude, you need to buy in a batch of 1000. So say price is $60, you have to buy 1000 barrels = 60K.

 

[jondowns1259]

I would trade the index Hershey -- you can spread bet with just a few hundred pounds. (Lol, though making a profit on your money is a very different matter).

 

[£10kLoser]

A good website for oil? I trade oil using this The Oil Futures Trading Business - Buy & Sell Oil For A Living and haven't had a losing week.

 

[porph]

I would be very, very careful if you do trade crude. Seen some horror stories on here. (I do trade it btw)

 

[£10kLoser]

It's not a big risk with a 150 tick limit and a 90 tick stop. Made over 500 ticks last week and over 200 this week...

This week was a bit crazy, though.