The oil thread

[Stu0898]

Originally Posted by tradinginthepit

I have been waiting for the breakout above the technical resistance at $50 - now bullish for the short term as price breaks out from the consolidation of the last few months. The COT index here suggests a bullish reversal and this is what I have used for my decision this time, and also the daily oil prices blog here which is excellent for the daily WTI contract news both technical and fundamental - cheers

Thanks for the links, very interesting and something I'll use from now on.

[Papa Lazarou]

Hey. I notice everyone that has commented on this thread so far is based in the UK.

I also trade oil (brent and wti, but mainly Brent). Can you guys please confirm what products you are refering to each time you talk and what month? I am also keen to chat regularly with people in this thread, but if we could clarify month and product that would be helpful to me - May WTI is currently trading at roughly the same levels as June Brent at present!

Volume seems very very light this morning so think I might sit on my hands and wait for things to warm up a bit.

Out of interest what platforms do you use and what exchanges are you trading? I mainly trade off webICE for Brent and WTI, but have access to Globex too.

[LeoE]

Originally Posted by Stu0898

Is it your own system or something you've bought? How long have you been trading it?

Its a system I got from david robertson that i've adapted slightly (Log in) and ive been using it for a few months. Its a 15min system using RSI and stochastic indicators. Backtesting it has produced some excellent results, and ive had some pretty good results trading live (although they'd be a lot better if I had more self-discipline, but im working on that).

Also, i'm trading the daily us light crude, may contract

[Stu0898]

Originally Posted by Papa Lazarou

Hey. I notice everyone that has commented on this thread so far is based in the UK.

I'm from the UK but live in Southern France!

I'm trading US Light Crude, currently on CLK9 and move forward on to the next contract every month.

[Stu0898]

Originally Posted by LeoE

Its a system I got from david robertson that i've adapted slightly (Log in) and ive been using it for a few months. Its a 15min system using RSI and stochastic indicators. Backtesting it has produced some excellent results, and ive had some pretty good results trading live (although they'd be a lot better if I had more self-discipline, but im working on that).

Also, i'm trading the daily us light crude, may contract

The link was just to a login page at Blue Trend Trading so I couldn't find out anything about your system.

[energytrade]

Definately interested in this thread. I trade all US energy futures (Ti, natgas, unl and Ho). Day trade Ti and Natty on basic technicals generally trade the other products as spreads with a more fundemental leaning to the call with a longer term position trade perspective. I've been selling options a lot recently as some of the volatility has been coming out of the markets and there has been no clear trend emerging to cling onto. I am looking at maybe selling May 60 usd calls on Ti if we move close to that level on the flat price and possibly 5 usd May nat gas calls if we get there. I still think we are in range which is driving my thinking right now rather than the start of a bull trend.

[tar]

guys for scalping ( in / out 100 times daily ) UScrude oil what is the minimum reasonable stoploss ?

[Papa Lazarou]

I don't scalp, nor do i know much about it... but how many points are you looking to take out of the market on each trade?

Even on a 5 min chart the ATR is about 20cents min. I guess for scalping you use tick charts, so I've no clue!

Originally Posted by tar

guys for scalping ( in / out 100 times daily ) UScrude oil what is the minimum reasonable stoploss ?