Suggest tips for Intraday Oil trading

[basantjsk]

I am new to trading, just started as intraday oil trader.
Can anyone suggest me some tips and strategies to follow.

I will be doing calender spreads and inter commodity spreads but can;t find any
relation in them.
these spreads just move randomly up & down
can any technical analysis be applied on them

Please help me in this.

 

[danboi8989]

Anyone???????

 

[danboi8989]

Ok im no oil trader but il start off.... the spreads are down to which ever broker you are using, they move widen and tighten them as they please because they can... To predict the markets using technical analysis I personally would suggest lookin at an author called Martin J Pring, he has books and CD courses u can buy on ebay or amazon cheap as chips, for the info your getting. Anything there is in the world to know about technical analysis and this guy will have a book or a CD rom about it... TA will help you with what ever market your following its all about mass psychology the fundamentals are kind of disregarded, although it is good to know a little about both

 

[moka2]

for last few days using CQG Trader in SIM I tried Calnder spread on Oil OCT/NOV
FOr a margin around $120-150 1 tick ( SPread) $10.. with veru low marginaand u need low brokerage...

 

[Cornix]

I don't trade oil myself, but have a few trading buddies who do and from what I hear, oil is very volatile and trends well, so probably the best way to trade it is wait for intra-day trend and jump on pullbacks. Hope it helps.

 

[Mr O]

If you're going to trade spreads then you need to understand the different market relationships. For example the relationship between oil and the USD, equities and fixed income market. If equities are on the up as well as the Euro, and fixed income is also on the bear with a flight of quality effect, then USD is likely to be on the bear which will push up crude oil.