The oil thread

I trade oil intraday on technicals.I trade what I see .

Inside bars , breakouts , trends, trend pullbacks, reversals , support and resistance and other candle patterns on 5 m

stop loss 50 to 100 points , target 3 times stop loss levels.

My own method is used here.

Profits this week 100 points
OILDAYTRADER
 
oildaytrader said:
I trade oil intraday on technicals.I trade what I see .

Inside bars , breakouts , trends, trend pullbacks, reversals , support and resistance and other candle patterns on 5 m

stop loss 50 to 100 points , target 3 times stop loss levels.

My own method is used here.

Profits this week 100 points
OILDAYTRADER
Click to expand...

What's your opinion on oil breaking $75?
 
Jason Rogers said:
What's your opinion on oil breaking $75?
Click to expand...

Jason

I am looking at $90 before december, subject to various factors including economic recovery,$,cold winter?, hurricanes?,political climate in Nigeria

Since all these factors are beyond my foresight, I just trade what I see on charts.

O D T
 
api figures

Hi !
Where do you find the API figures? couldn't find them on their site.
Thanks


Papa Lazarou said:
I'm going to say that this should come off this morning. It's 50.30 in June Brent right now. API figures show big builds.

Could all change come this afternoons figures, but in the short term, it's a sell for me...
Click to expand...
 
yiehom said:
Hi !
Where do you find the API figures? couldn't find them on their site.
Thanks
Click to expand...

Hi there,

They get published on our news feed from Reuters. I believe they are posted somewhere on their site, but not sure they are published as quickly as they appear on the newswires. That said, I'm not in the office at 9.30pm uk time, so I only find out about them in the morning when I get to work. The market is very thin at that time at night anyway.

DOE's are the ones, but taking note of the API's doesn't hurt!
 
Thank PapaLazarou.

I believe there a way to exploit the fact that 70 times out of 100, doe is consistent with api.
 
Meh!

Missed out on the 300+ point fall in us daily light today. Misplaced my stop and missed the ride.

I expect there'll be another one along shortly!
 
I was in at 71.47, but moved my stop loss too early and got stopped.
Nice move, indeed!


161* said:
Meh!

Missed out on the 300+ point fall in us daily light today. Misplaced my stop and missed the ride.

I expect there'll be another one along shortly!
Click to expand...
 
Hi all.

Can anyone please comment on trading platforms for crude? I'm considering shortsandlongs - but would appreciate anyone's input or experience!

Thanks.
 
pir said:
Hi all.

Can anyone please comment on trading platforms for crude? I'm considering shortsandlongs - but would appreciate anyone's input or experience!

Thanks.
Click to expand...


Something like 'TT' via a direct market access link and clearing through an exhange member would be suitable for a larger 'local' type trader.

Or if you're only trading 1 or 2 lots then I'd argue someone of the type of interactive brokers (do they even offer Nymex Crude or ICE brent?), or someone that does mini crude, where they provide their own trading system as part of the cost.

I guess it depends on how much size you do.
 
Papa Lazarou said:
Something like 'TT' via a direct market access link and clearing through an exhange member would be suitable for a larger 'local' type trader.

Or if you're only trading 1 or 2 lots then I'd argue someone of the type of interactive brokers (do they even offer Nymex Crude or ICE brent?), or someone that does mini crude, where they provide their own trading system as part of the cost.

I guess it depends on how much size you do.
Click to expand...

Interactive brokers are ok, worked with their platform before. The best non local type platform ive seen.
 
pir said:
OK - many thanks for that. FYI - I'm talking small trades!
Click to expand...

Open e cry

Ampfutures

Mirus Futures

All based in the US but have good solid platforms and good commission rates.

Ged
 
Any discussion about dollar/crude relationship here?
Any chance to break the $75 - or $65 mark for that matter?
Are we to see anything increase in Opec output at the September 9th meeting?

P.
 
pir said:
Hi all.

Can anyone please comment on trading platforms for crude? I'm considering shortsandlongs - but would appreciate anyone's input or experience!

Thanks.
Click to expand...

Try demo trading first with ODL .They allow as little as 100 barrels or $1 per cent
 
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