Thanks for starting the thread!
Ooh, that means fundamentals, rather than just technicals … you were bored with “mostly technicals”? (You looked at both, for currencies too, perhaps?).
I’ve been trading oil futures “CL” a little, since early last year. It’s a very small proportion of my trades, but that small proportion is actually increasing. I’m gradually developing an interest in it because I’ve always liked men in oil … er, sorry, excuse me, I mean of course “because I’ve always liked something that can move quite strongly during the day and isn’t a currency”. :8:
Well, I’m as crude as the next man (depending on who the next man is), and will perhaps keep you company. I do seem to be trading oil a little more, and doubtless have much to learn, here.
Sounds good to me. I do the CL futures ($10 per tick per contract) because they’re CME and I pay an extortionate monthly fee for that data-feed anyway, and as the saying goes “I know no other”.
Ah yes … hence the saying - “Like oil off a duck’s back” (maybe not quite right?) … :8:
I’m doing something similar to you, but on a faster time-scale (actually using constant-volume bars, so the printing of my bars takes volume into account automatically). Like you, I only trade “with the higher time-frame trend” as a directional bias, taking entries from something faster (bar patterns, in my case).
I suspect that in spite of the fact that you use indicators and I don’t, we’re probably doing something similar? You’re trying to buy the dips in an uptrend and sell the rallies in a downtrend?
Yes indeed. This is one of things I [I]like[/I] about oil: 3.30 (UK time) on a Wednesday afternoon (usually) is the [B]only[/B] time you need to be “flat”, and even then not for long. The next [I][U]Thursday[/U][/I] release isn’t until June 1st, this year, I think.
Watching with interest - good luck!
(Edited to change “volatility” to “volume” so that not too many people laugh at me :8: ).