best indicators for daytrading crude?

GMH

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what setting on the indicators taht you recommend shoul d i use and also if possible any great books on this subject?
 
Here are some...

• changes in global supply and demand for oil;
• the actions of the Organization of Petroleum Exporting Countries;
• the price and quantity of imports of foreign oil;
• political and economic conditions, including embargoes, in oil-producing countries or affecting other oil producing activity;
• the level of global oil exploration and production activity;
• the level of global oil inventories;
• weather conditions;
• technological advances affecting energy consumption;
• domestic and foreign governmental regulations;
• proximity and capacity of oil pipelines and other transportation facilities;
• the price and availability of alternative fuels.
 
GMH - Theres a guy calls himself 'oildaytrader' who posted this on another thread.....

"I make money in the markets due to my knowledge of the markets, instruments and market participants.I have a tested trading plan and tested systems/method that consistently extracts money out of the markets"

He appears to have considerable knowledge, especially on oil. message him !
 
GMH - Theres a guy calls himself 'oildaytrader' .....

He appears to have considerable knowledge, especially on oil. message him !

:LOL:

This has to be the funniest thing that I ever read here. I'm sure the mods will have a few laughs reading any PM's he recieves :LOL:

To be fair, oily has probably gained a fair amount of experience in mopping up spilled cooking oil off the kitchen floor in burger king.

As I dont trade oil I couldnt really comment if this experience would stand him in good stead, but somehow I doubt it.
 
Don't forget about his many ea's that cost him $millions to develop!

:LOL::LOL::LOL:

What a hoot!

Peter
 
Hare, I take it you could smell the sarcasm in my post and hope you didnt take it as a genuine recommendation !!

I'll have to withdraw my humour from the threads otherwise, which will be painful as its the only thing keeping me sane at the moment !
 
When trading crude, your indicators are important but knowing the right hours to trade are the most important. I ignore almost all signals during the asian session unless there is high volatility in the asian equity markets. At the london open is a good time for indicators and the first 2-3 hours of the us session. Other than that, there are lots of false signals since the volatility and volume are just not there.

I like parabolic SAR set at a step of .02 along with fibonacci levels and SMA's (20 & 50)
 
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