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kvellimalai May 12, 2011 5:38pm | Post# 1

WTI Crude Oil Trading
 
Hi All,
Is anyone trading OIL-WTI? I did a complete search and couldn't find any thread dedicated to WTI trade. Any good strategy or EA for this is most welcome. I am a learner trader only and not an expert to provide any method...

Velli

ingmarforex May 12, 2011 7:58pm | Post# 2

Hmmm
 
Let me tell you 1 thing my friend that is 1 of the diffucult markets out there.
reason it's huge volatility i like it a lot and it costed me a lot of time to master oil trading and it is worth the effort.

Also now at the moment with it's huge swings it is really not a market for a noob or if you wanna lose money then better send it me.

But i will recomend you first to do some forex trading calmer pairs then after that you can get to some more volatile pairs and after that you gonna try crude.

Just my advice and strategy learn to read a chart

kvellimalai May 14, 2011 8:05am | Post# 3

Let me tell you 1 thing my friend that is 1 of the diffucult markets out there.
reason it's huge volatility i like it a lot and it costed me a lot of time to master oil trading and it is worth the effort.

Also now at the moment with it's huge swings it is really not a market for a noob or if you wanna lose money then better send it me.

But i will recomend you first to do some forex trading calmer pairs then after that you can get to some more volatile pairs and after that you gonna try crude.

Just my advice and strategy learn to read a...
Hi Ingmarforex
thanks for the details. Yes you are right the market is currently having huge swings and daily average is very high.
I have been trading forex for quite some time and would like to explore the possibilities on the oil market.


Being an experienced trader, can you please forward me any good indicator or EA that you have been using...

Regrads
Velli

ingmarforex May 14, 2011 10:37am | Post# 4

I don really use indicators when trading crude oil.

But if i would recomend 1 it would be boilingers i use that in the begining with crude trading squueze patterns low volatility then when it increases you take the breakout

What i do is first i determine the direction most important in trading.

Trending i wanna buy pullbacks or short rallies.
Range trading crude goes many times in ranging periods amd this are the periods i like to trade crude the most intraday especially now i go to lower timeframes and trade the range buy the lows sell the highs those swings can give you huge points everyday the last weeks where the best for me i made everyday above 200 points and that only on crude.
But you most get a feeling for the market.
Also i do some other stuff but i dont wanna share that in the future i will setup a commercial section where i would cover this and people who are intrested could get in to my trading room etc.
Crude just work like most markets on just support and ressistance.
Next i check news what has to do with crude midle east tensions hurricanes and dissasters close to oil fields.


What i wouold advice you is to watch price behaviour of this market for some time and don't use indicators whatch also times when the pits go open new york session is most of the time best daytrading this stuff.

My tradign is like this london session i trade some fxpairs then new york i trade crude oil.

The combination is great but study this market and dont go use indicators thats my advice i can give ya 1 secret watch the 100s and the 50s.

More if you wanna know i will in the future open commercial section because i don't wanna share my edge to the public.

Regards Ingmar.

kvellimalai May 15, 2011 9:49am | Post# 5

I don really use indicators when trading crude oil.

But if i would recomend 1 it would be boilingers i use that in the begining with crude trading squueze patterns low volatility then when it increases you take the breakout

What i do is first i determine the direction most important in trading.

Trending i wanna buy pullbacks or short rallies.
Range trading crude goes many times in ranging periods amd this are the periods i like to trade crude the most intraday especially now i go to lower timeframes and trade the range buy the lows sell the highs...
Thanks Ingmar for your advice and recommendation.
I am not clear on the "watch 100s and the 50s" what does this mean. Is it something related to closing at 100's or 50's?

Regards
Velli

makingpips May 15, 2011 10:17am | Post# 6

Oil Gushes Pips
 
I don really use indicators when trading crude oil.

But if i would recomend 1 it would be boilingers i use that in the begining with crude trading squueze patterns low volatility then when it increases you take the breakout

What i do is first i determine the direction most important in trading.

Trending i wanna buy pullbacks or short rallies.
Range trading crude goes many times in ranging periods amd this are the periods i like to trade crude the most intraday especially now i go to lower timeframes and trade the range buy the lows sell the...
Agree with much of the above and trade WTI intraday most days myself.
No indicators just price action plus S/R on daily time frame.
If you want 200 pips you can get em......and then some.
Great market with predictable volatility.
Any newcomer to this market or Brent must observe first to get a feel for the potential range and massive moves that can set in in both directions.
Some understanding of its peg to the dollar index is helpful/useful.
If you want one market to make you a great full time income then choose oil. It gushes pips.

makingpips

ingmarforex May 16, 2011 6:50pm | Post# 7

Thanks Ingmar for your advice and recommendation.
I am not clear on the "watch 100s and the 50s" what does this mean. Is it something related to closing at 100's or 50's?

Regards
Velli
Roundnrs 100 and 50s are good levels to watch so for example 100.50 101 etc. But the best is to look for important S&R also try not to use tiny stops that was my first error with crude because it has a huge volatility sometimes you nail your entries to the pip. But i found out that my stops where sometimes to smal and i get stopped out and then soon after it it whent my direction.

And yes like makingpips sayed it is a great market BUT!! you most observe it for sometime otherwise it will eat you alife.

Also keep track of the volatilty on a spreadsheet and use it for your stop determination because lately it was really volatile swings of 5 a 600 pips up and down so with a tuny stop you will not come far depends offcourse if you know the market. Also when it starts to move fast go with the flow don't be scared because it will move easilly another 100 points.

But observe and demotrade for atleast 6 months this market and try to find the behaviour for example what it does when the stocks open or pits. What does assia what does london. Most active session is most of the time new york for crude also be aware of hurricanes, war reports and the famous inv report for this market they all can give you a cleu how the pits are gonna react to it so you can possition yourself already in advance. You will find patterns in the market thats by the way in every market every market has his own behaviour and what makingpipds sayed about the $ index or futures i agree. especially lately this market can be traded pure on PA but i would advice to know whats going on in the world related to oil that will give you a edge. together with some pa techniques and some pattern reqonitzion you could trade this market profittable and even if doing right make a killing with it.

Makiingpips are whe twins???



Regards Ingmar

makingpips May 16, 2011 7:38pm | Post# 8

Twins Probably Not But In Agreement Totally
 
Roundnrs 100 and 50s are good levels to watch so for example 100.50 101 etc. But the best is to look for important S&R also try not to use tiny stops that was my first error with crude because it has a huge volatility sometimes you nail your entries to the pip. But i found out that my stops where sometimes to smal and i get stopped out and then soon after it it whent my direction.

And yes like makingpips sayed it is a great market BUT!! you most observe it for sometime otherwise it will eat you alife.

Also keep track of the volatilty on a spreadsheet...
Great movement today yet again and plenty on offer in both directions. I got to it a bit late today so missed some of the early PA and what was offered but still got enough to make me content for the day.See that you have discovered the need for a wider stop. I have adapted to 27 pips SL on all trades. Gives a bit of room for movement against the entry if entry taken a bit off the mark or if price offered a bit wide below/above a round number or midway level.

I do avoid being in trade approaching and just after any red relevant data and of course inventories. Just take a few minutes to read a good trading news site before getting started just to pick up any general oil news too.

As this market can fly it should not be underestimated. I used to come out way too early when I set out with WTI. After a number of years at it I expect significant movement most days. And now just go with the flow using PA and the range that has been indicated.

We are certainly in tune with our thoughts on WTI market Ingmar.
WTI frightens folks who take a look at it. I encourage folks to get familiar with it and it will take care of all the pips you could ever want. A day traders dream with predictable volatility.

makingpips

ingmarforex May 17, 2011 6:08pm | Post# 9

You catched $95 kindas no brainer after that huge stretched candle myself i got that 1 but exited bit to earlier lol still had nice day look like bulls are back in town

makingpips May 17, 2011 7:10pm | Post# 10

Just More Gushing Today
 
You catched $95 kindas no brainer after that huge stretched candle myself i got that 1 but exited bit to earlier lol still had nice day look like bulls are back in town
Hello Ingmar

Think we trade at different times so I caught the trip down off session high (97.80)(I calculate my session as far as PA goes as commencing at 2am EST).....my entry 97.60 (SL 27) around 8am EST (I operate out of UK so I'm in GMT). Was not in a position to monitor so had limit at 96.57

Later took 95.68 (13.21 EST) long entry and filled my boots some more.......no limit this time but TP at 96.93 at 14.05 (EST)

There was a bit of a bull rush off 95.00. I'll see whether they are still around in the morning. Not bothered which way this thing goes as long as PA is clear. EACH DAY AS IT PRESENTS.

makingpips

mystic Dec 28, 2011 12:22am | Post# 11

Good oil forum?
 
Hi all,

Is there a good oil traders forum around that you could recommend?

Peter

vasi Dec 31, 2011 6:09am | Post# 12

CBS Evening News: Iran to test long-range missiles
 
CBS Evening News: Iran to test long-range missiles

Inserted Video

vasi Jan 9, 2012 3:48am | Post# 13

Oil & FX
 
Oil fuels the global economy and oil is what pumps life into the currencies of countries that depend on energy. Learn the relationship between oil and a country’s currency and how it may influence your trades. (Source: Bloomberg)

vasi Jan 9, 2012 6:11am | Post# 14

Crude Oil and Gold Look to Merkel, Sarkozy Meeting for Direction
 
Crude Oil and Gold Look to Merkel, Sarkozy Meeting for Direction.




One billion Jan 28, 2012 4:37pm | Post# 15

I have been selling April, May and June WTI crude oil call options short recently. I believe the Iran issue is a fake. Nobody will mess with these guys as everybody has to deal with problems at home.

One billion Jan 29, 2012 10:42am | Post# 16

The latest news from Iran tell me that the spread between WTI and Brent will very soon start to rise as Europe has voluntarily opted for an economic disaster. Iran's plan to halt all exports to Europe will have severe consequences here in Europe. Let me remind you falks that there are doubts about Saudi's extra capacity and after all, their crude is not so easily crackable as Iran's.

One billion Jan 30, 2012 7:14am | Post# 17

WTI crude oil is certainly in a downtrend when looking at a daily chart.

RandomOne Jan 31, 2012 2:02pm | Post# 18

Without trying to hijack the thread, has anyone found WTI or OIL data for more than a few years? Gain has WTIUSD tick level going back to 15/11/2010, but can't find anything longer and hard to place much confidence on anything tested over such a short term.

One billion Feb 1, 2012 3:24pm | Post# 19

I am still short WTI crude oil March futures contracts. Last one was sold at 100.97. I hope I can hold this stuff a few weeks and buy them back at around 88.

One billion Feb 1, 2012 3:25pm | Post# 20

Without trying to hijack the thread, has anyone found WTI or OIL data for more than a few years? Gain has WTIUSD tick level going back to 15/11/2010, but can't find anything longer and hard to place much confidence on anything tested over such a short term.
I use for charting thinkorswim platform. their data goes way back. Give it a try.


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