Hello,
I’ve been trading since September 2017, so not very long.
Have had some successes and some losses.
Started trading crude oil as I find I have more success with this over currencies.
I made quite a bit of money, but I was really fluking it and putting money at risk, also not using stop losses… I’ve decided to take a step back and start trading in a demo account.
Just wondering what strategies anyone who trades oil uses.
I’ve been using SMA (10 & 20), Stochastic (5,3,3), RSI (14, close).
I’ve been waiting for the SMA’s to cross over on the 1 hour chart, sometimes it works and other times it doesn’t.
Try and keep up to date with news, FX Street and use the technical summary in investing.com as a guide.
I also found that the best time to trade oil is when New York is open. As I’m in Perth, Australia, this is around 11pm - 3am. I have a baby so not possible to stay up that late sometimes.
Thank you,
Dragonfly