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Will do olias. I just opened up a TOS account, so I'll chat with them also.

I've come to see there's plenty of avenues to get into this (and many above my head). But I just want the simplest, least expensive way to get a barrel of oil (other than physical) and let it run for the long term (1 year min). :)

Oh - so currently there is a cost of carry on these ETFs. Do you know how often they rollover - is this a standard time period?

Thanks Topsurfi. So a simple person such as myself, can't just buy $5,000 worth of USO at $40 and then close at some future date at $60 (hopefully :) ) to be left with $7,500 less fees?

Is every ETF (such as USO) be subject to that scenario?

This is a very green question, but couldn't a person simply buy and hold an ETF to let it ride? Are there daily fees that accrue or excessive margin requirements? Again, forgive my ignorance as I've never dealt with stocks. EDIT: This is a position I plan to hold for > 1 year.

That's what the Chinese are doing... http://cbs5.com/consumer/chinese.investors.real.2.884717.html

What is the difference(s) between DXO, USO, OIL, etc?

I never experienced much slippage from IB when I was using them; but your 40 pip "slippage" was because your trade was executed via IDEAL which has disgustingly wide spreads.

BB, EMA, and MACD

Use IDEALPRO for trading cornelius; IDEAL is for conversions.

At least we've got colorful toilet paper now.

Fast forward to about 6:30 to see similar amount of lines: <object width="425" height="344"><param name="movie" value="http://www.youtube.com/v/Rp6-wG5LLqE&hl=en&fs=1"></param><param name="allowFullScreen" value="true"></param><param name="allowscriptaccess" value="always"></param><embed...

Holy shit that's a lot of lines. Looks like a laser light show from a 1970's rock concert. KISS.

Thanks mounafia - you'll know not to give up if you want something bad enough but you'll know to give up if it's not right for you. The answers are inside you and not in some chart's indicator. Good trading to you in '09.

Thanks sam - discipline, patience, and the need to succeed. I'm still learning too. :)

Update for week ended 12/12/2008. Increased position size this morning (been more than 2 months since prior change) and took just one quick EU scalp off the 1min chart. Don't foresee too many more available trading days left this year. --- 2008 has gone quickly past my eyes as I look...

I've never traded stocks or futures before (only spot forex) and would like to open a position to go long oil. I have no intentions to actively trade the position, simply buy and hold for a year or so. What is the best way to do this - an ETF or some other product? I would also need to open...

No - those are "buffett's babes" :) Have you ever seen the feeding frenzy of the obese at a buffet? They will pile crab legs and other shit a foot high on their little plate and then try to cram their fat asses into some tiny booth seat! WTF is wrong with people :eek:

Look at what happens to the buffet babes on cruise ships :D