- - Crude Oil Daytrading - -

Crude Oil is an excellent product to daytrade. Liquidity is excellent. Has good daily range of high & low. Gives excellent technical signals. Trends well. WE LOVE IT ! ! !

Uhm... so? I don't get your point in starting this thread, but perhaps that's just me.

So you daytrade Crude Oil.. that's great offcourse, but what contract do you trade (eMini?), how do you trade it ("Trends well" is not quite a strategy I guess ), etc.

I've a shot at it through spread betting but lost so far due to my stops being triggered although I got the general trend right. What are you using for entry / exit signals and what sort of levels are you setting your stops at ?

Thanks

Josh - The purpose of this post was not to go into details, but just to make the point that when it comes to daytrading most people always are limited to thinking about FOREX or the E-Mini's. . . but never Crude Oil.
My posting in the Commodities / Energy section will go into more details about actual trading.

basically - like 90% of newcomers here - he's selling something....

Oh ye of little faith, pedro01 and jos12; they're right. I am a crude oil day-trader for the simple reason that the intra day volatility is fantastic, it churns out reliable technical signals and if you have the stomach for it, it can provide you with great profit making opportunities.

I spreadbet on UK Crude, which can be fairly tame in the morning and then often erupts in the afternoon. I am for 50 pips a day, and if I can keep making that figure consistently, I will be richer than I could ever have imagined. Conversely, lose that much consistently with leverage and you're in serious trouble.

If CL Trade Group were selling something, don't you think they'd have mentioned it in their posts??

Get your balls out and give it a go!

- - - Crude Oil Daytrading - - -

1. Jak672 - Thanks for your support. Many people take cheap-shots at posting here I see. Oil IS A GREAT TRADER ! ! ! ! !

2. Pedro01 - I am just telling how me and my group daytrade Crude Oil and do very well and are happy trading Oil. But you are entitled to your opinion. I respect that ! !

3. Azwhaley - Yes, I agree. Stop settings are important. First of all, we ONLY trade in the directiobn of the mid-term & short-term trend. We place stops at technical support & resistance levels. Works well !

How do you define 'intra-day volatility is fantastic'? How do you determine, quantitatively, that crude is more volatile than, say, lean hogs?

What does it mean 'gives excellent technical signals'? Are there 'poor technical signals'? Are there mkts that don't give technical signals? How do you figure out which mkt falls into which category?

Finally, why mention liquidity at all, given the retail context?

I know this is an old post but have just come back to this forum after a long time away. 5 years trading oil and at last getting somewhere very exciting. Use tick charts via tradestation, best day is 280 ticks, best week is 650 ticks but still using fx pro spread betting, so v small size. Would love to give up work over next few months, working hard to make it happen.

My question: Does anyone else day trade oil using tick charts? would be great to share some ideas with you if so. Has been a long journey.

chrib said:

I know this is an old post but have just come back to this forum after a long time away. 5 years trading oil and at last getting somewhere very exciting. Use tick charts via tradestation, best day is 280 ticks, best week is 650 ticks but still using fx pro spread betting, so v small size. Would love to give up work over next few months, working hard to make it happen.

My question: Does anyone else day trade oil using tick charts? would be great to share some ideas with you if so. Has been a long journey.

Click to expand...

I've been trading on and off for a long time as well.
Trading CL could earn you a lot of if you follow several rules:
- trade certain times and days
- stops... tricky one as you will be taken out everytime you put them. think of some other way of trading. Like locking the profit with opposite order and trail it instead.
- swing trading is the best on this one

In terms of ticks etc. my best one is over 1000 pips/ticks per day or should i say per session of 3 hours.

Also thinking of quitting my job but probably will wait a bit more as I am finding that the mid term swing trading works fine on crude oil trading.

Would be interesting to share the set-ups or ideas.

Global Oil Trader Strategy (JDNEEMAN)

Since no one here has shared the strategy for day trade oil, i will share mine that probably will give some of you a lot of money if you follow correctly.

My Name is JDennis Sarano Neeman, i trade oil, daily, i´m more of a intra day trader, and it is the best, i left forex trading, and went to Oil trading and found wheat i was looking for.

Ok, here it goes.

1. I trade with Hotforex
2. You will need RenkoRangeBars.ex4 10 ticks per bar.
3. Moving Average (Exponential) 8, 17, Close,
4. Moving Average (Linear weighted) 89, this resembles the 88.9 Fibonacci.
5. !SuperADX
6. !Bullseye

Entry Buy:

i use 30 ticks Sl and 50 TP, but you can use your own settings for the money management, but follow the rules for trading,


for buy rule see image attached.

i will explain further on this later.

Nice strategy. I would suggest to check the volatility to identify the best times to trade.
Good luck with perfecting you strategy and trading.

Interesting time in the market at the moment, as noone is in power so it could go either way.