Crude Oil trading

This is a discussion on Crude Oil trading within the First Steps forums, part of the New Traders category; Newbie here. Did try to search the forum. Could not find anything relevant. So here you go, How and where ...

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Old Oct 18, 2008, 1:48pm   #1
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Newbie here. Did try to search the forum. Could not find anything relevant. So here you go,

How and where do I trade in crude oil ? is there any particular website who specialize in trading oil and commodities?
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Old Oct 18, 2008, 2:02pm   #2
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Crude oil futures on NYMEX is what your looking for threw what ever broker you use. Personaly if your a "newbie" i wouldn't trade crude you will get wiped out.
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Old Oct 18, 2008, 2:05pm   #3
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NYMEX.com: Light Sweet Crude Oil , also all spread betting platforms will have crude oil if you wana spread bet it as apposed to trading futures contracts

Last edited by N Rothschild; Oct 18, 2008 at 2:11pm.
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Old Oct 18, 2008, 6:51pm   #4
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Many Forex brokers trade oil (and gold) as part of their Forex platform - Metatrader has it, for example. To suggest that trading oil is any more dangerous than, say, Forex is just not true. It is a lot easier and more profitable, in my opinion. OK, you may need larger stops and limits but simply trade smaller. Take a look at The Oil Futures Trading Business - Buy & Sell Oil For A Living which produced good results this week and all through the recent market crisis.
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Old Oct 18, 2008, 10:51pm   #5
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i say its more dangerous due to the size of the moves on crude and the fact the margin for just 1 contract is 10,000$ ish. a move of 1$ in the market (pritty small) will be 1000$, that is the minimum amount you could trade if you traded the futures. so if you have a small acount any moves against you are gona punish you.

Last edited by N Rothschild; Oct 18, 2008 at 11:00pm.
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Old Oct 19, 2008, 3:46am   #6
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That's just nonsense. For a start, you can trade 0.1 contracts and with a sensible stop I can trade with a margin requirement of under $300. Last week I made 6 trades and pocketed $5.20 worth of moves at $2 a cent. I was never risking more than $250.

You can also trade via spread betting for peanuts.
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Old Oct 19, 2008, 9:47am   #7
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i stand corrected. i haven't seen these .1 contracts
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Old Nov 12, 2008, 4:35pm   #8
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Default Re: Crude Oil trading

Quote:
Originally Posted by bullseye2221 View Post
Newbie here. Did try to search the forum. Could not find anything relevant. So here you go,

How and where do I trade in crude oil ? is there any particular website who specialize in trading oil and commodities?
Newbies are always interested in Crude oil. No one gives you a profitable strategy.
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