5% - 10% profit per day trading

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Quote from nice_invest:

mate good advice point 1 especially
what do u mean by qm and cl?
many thanks
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qm and cl are the offical symbols for oil.

CL is just a bigger contract, so you need more money to trade it basically.


it doesnt affect us as cos we are in uk we use sreadbetting firms, not brokers,
so dont trade the offical contracts.
 
Quote from spanish89:

qm and cl are the offical symbols for oil.

CL is just a bigger contract, so you need more money to trade it basically.


it doesnt affect us as cos we are in uk we use sreadbetting firms, not brokers,
so dont trade the offical contracts.
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Thanks for explaining that :)

Another benefit of trading the mini for me would be that I could trade 2 instead of 1 CL. This way, i can cut size down or increase it, depending on my confidence in the setup.


And I agree with you guys. The movement here is driven by politics more than anything else.
 
I believe this IS NOT THE TIME to short oil. Too dangerous in my humble Opinion...

I've been having a wonderful time buying oil after every sharp drop.

Around 60 ticks profit per trade. So far this week I m up 500 ticks at 3 pounds per tick!

I've applied the same method in every trade this week. Buying after a sharp drop and selling after 1 to 2 minutes for anything between 40 and 80 ticks profit.

Not a single short on oil this week.

Anyway, these are just my useless 2 pennies...
 
yep, thats the secret to successful trading: Trade with the trend.

Do you use any moving averages to tell you the direction of the trend? if so, on which time frame?

The 50 MA on hourly chart has been solid on showing trend in OIL for almost a year. I might use that as well.
 
Quote from V8Media:

I believe this IS NOT THE TIME to short oil. Too dangerous in my humble Opinion...

I've been having a wonderful time buying oil after every sharp drop.

.
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hello there mate interesting post :) how sharp would the typical drop be before u were to buy? im just starting out so would like to get some good strategies
 
i am a pure technical trader and use a mixture of keltner channels, demarker etc for my trades.

an example of my morning trade.

warning - i am an oil newbie. make your own trading decisions.
 

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Quote from V8Media:

I believe this IS NOT THE TIME to short oil. Too dangerous in my humble Opinion...

I've been having a wonderful time buying oil after every sharp drop.

Around 60 ticks profit per trade. So far this week I m up 500 ticks at 3 pounds per tick!

I've applied the same method in every trade this week. Buying after a sharp drop and selling after 1 to 2 minutes for anything between 40 and 80 ticks profit.

Not a single short on oil this week.

Anyway, these are just my useless 2 pennies...
More...



i wont be selling oil just yet,
but itd be extremely risky to be buying now though either.

Especially with this shitty movement itd be a nightmare.



I do have to applaud myself on my call that the time to buy heavily was on saturday afternoon when oil was at $36, with target of $44/46. :)


Now its spiked 50% straight in under 2weeks, spiked 32% straight in 5days...

Unless all that ''demand destruction' that every trade was shouting from the rooftops all day everyday since the summer,
has now just 'evaporated', and now everyones back to being scared that the world will run out of oil and so gna cause it to go back into the 100s'',

then this is gna crash very very hard and fast back to the low 40s as soon as soon as teh gas is sorted.




btw watch oil spike over 51 now
 
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