Hi everybody.
I am looking for a forum for trading with crude oil. I see there are no entries about oil.
Any ideas?
Thanks
I’ve never traded commodities but i’d like to share this:
Here’s How $20 Oil Could Become a Reality If Storage Runs Out - Bloomberg Business
What’s your thought of this?
I really think it’s annoying, that some members push their “calls” to this thread.
I don’t know you, why would I listen to you ???
Please, priya sharma (Newbie) and bourseindia (Newbie), think about how serious you look, putting all those meaningless calls to the thread.
Dear Gchar.
I don’t believe, that we will ever run out of storage. Oil rigs are shutting down since last summer and some producers are quite squeezed, financially. With lower prices oil production should fall eventually and the prices will stabilize much higher than 40-50 US$.
Oh, and sorry for my late reply.
Oh thanks though!By the way do you believe that by analyzing the price of Oil (and Gold) i can “see” where the Dollar is heading? Moreover i stumbled upon this book: Currency Trading and Intermarket Analysis: How to Profit from the Shifting Currents in Global Markets
Do you believe that it’s a good thing to get into this things or is it too early for my base knowledge and should give into something easier?
Thanks in advance!
Dear Gchar.
For USD follow US-Dollar-Index and all major news concerning all major currencies. So there is no single factor for the value of USD. Not all news/events influence USD immediately, sometimes the influence needs to pile up to effect USD and then the price change can be quite big (like yesterday - you can read it in Here’s Why The Euro Surged | Investing.com). The book seems to be interesting, I will read it too.
Trading commodities is not very dissimilar to trading currencies, it is in fact easier, because the commodities are price-bound to production costs and demand, so the prices are more “real”. However, OIL market is highly manipulated and moves often in unexpected ways and directions. Try it, and always remember to follow also major currencies, gold and USD-Index, as well as stock indices - it is ALL a part of a bigger picture.
I have never traded oil in my real account, but does holding this commodity in buy order for long period helps. Any experience regarding the oil trading shared would be helpful .
It is too soon to hold oil for a long period of time. Currently oil price is range bound and you can only make money selling on the upper limit and buy on the lower limit of the channel. Strong rally is not yet in sight.
Daily/weekly transactions are the only ones that bring money now.
Oh thank you for the update. But when do we get to know the strong momentum for a trend in the commodities. Is there any strategy that you use for yourself to determine the demand and supply and the momentum or potential for strong market sentiment.
Oil outlook: Crude to hit WTI?
Eyes on US driving seasonal effect The state of the Crude market remains bearish, with oil prices not far from their lows, notes Malcolm Graham-Wood, Oil Analyst and founder of MalcysBlog. Technically oil prices remain in a bear market. Oil supply concerns remain, and the expected Iranian oil is worrisome. US refineries remain geared up to producing gasoline Graham-Wood, says that US refineries are gearing up to produce gasoline. Labour day is end of the driving season and demand drops off, so in the middle of September refineries switch to more industrial products than gasoline, explains Wood.
How low can crude go?
Wood sees bearish potential for WTI crude, expecting oil prices to hit $45/barrel. He further says that this remains a crucial level. He adds that the competitive nature of US shale is now being questioned in the oil market. Watch the video to know the fundamental and technical outlook for the following stocks – ZM, MGW, PANR, AMER.
See more at: Oil outlook: Crude to hit WTI? Eyes on US driving seasonal effect - Tip TV
Clem Chambers, Founder of ADVFN joined us to discuss China, Crude, Greece and market trends. China heading back to normal? Starting with China, Chambers advised that he doesn’t mess with the Chinese market. He views it as too unfree, but they’ve had their bubble and bust, and are down another 2% on the overnight session. He believes that there will be more of a gradual correction towards pre bubble normality. Not your average bear Looking at the coverage of the Chinese crash, Chambers takes umbrage with how markets moves are often reported., noting that bear markets are not when a market is just down 20%, but exhibiting lower lows and lower highs too. He adds that there are two types of bear markets – one that crashes 20% and another which has 15% corrections and a progressive trend lower. Chambers notes that two things cause crashes: either a shock, or the market is too overvalued and buyers exit the market. Looking to global markets he fears the latter. Oil and Greece lows present opportunity Looking to oil, Chambers notes his fundamentally driven view that crude is close to the bottom. He believes that we are entering a stage where any dips lower can be seen to be confirming lows. Looking to energy stocks, he feels that with confirmation, there are great buying opportunities ahead. Casting an eye to the reopening of the Greek market limit down some 27% today, Chambers believes that after a couple of days, we may see a good opportunity to get into Greek stocks. - See more at: Crude close to bottom, Greek limit down open offers opportunities | TipTV.co.uk
Hi guys,
As a newbie just have maybe a bit silly question, but in you opinion, is trading oil easier or harder than trading currencies or it’s hard to say.
[QUOTE=“LadyB;720676”]Hi guys, As a newbie just have maybe a bit silly question, but in you opinion, is trading oil easier or harder than trading currencies or it’s hard to say. dde1f[/QUOTE] it’s easier to trade if you plan on holding for weeks to months. The supply and demand picture for oil is much more obvious for oil than it is for currencies. The themes that move it are also more obvious.
[QUOTE=“GlobalMacro;720688”] it’s easier to trade if you plan on holding for weeks to months. The supply and demand picture for oil is much more obvious for oil than it is for currencies. The themes that move it are also more obvious.[/QUOTE]
Thank you for your answer. Much appreciated.
It depends how much capital you have.
In trading CL (Crude Oil) one tick = 10 $ per contract. (e.g. 40.50 - 40.60 = 100 $ (10 ticks)).
I prefer CL because opportunities are more frequent based on my strategy and trading plan. There are very rare days when I don’t get confirmation to enter the market. On the other hand, I find forex interesting because you can control max risk on any trade (your SL can be 10 or 100 pips from entry and with right lot size you can always risk the same amount of money.) I like forex, but opportunities are less frequent and trades are usually slower.
Hope this helps :30:
I trade the WTI & Brent spread. Over the last 5 years the spread has been between 2$ - $22. Don’t know if it will go that wide again, but I have an entry around $3 for a long term play.
Well, I see not bright future for the crude oil as of now, at least for this year. The supply glut is the main concern due to which prices are taking a hit. I mean, I seriously had no clue in the starting of 2015 that by the end of this year crude would be this much down. Its just like Game of thrones where Saudi Arabia doesn’t want to step down from the iron throne(They have the biggest Market Share). Next year I see some stern steps to be taken by OPEC which will help recover the oil. But seeing the technical and fundamentals of the oil, $40 is a major resistance and $33 is major support. Fundamentals are very weak for the crude oil. The inventories are increasing and recently I remember that the Natural gas touched a 14 year low. Thanks to FED for causing a rout in commodity prices. I am bearish on crude oil for atleast a month. then we shall see what future does the THE BLACK GOLD holds for itself…
Happy Trading
:59::57:
Crude oil is still trading under pressure but as with the summers approching, i expect some demand to come and going into fundamentals Non OPEC are somehow willing to make some production cut. We know Saudi Arabia wont leave its den but at some point they have so, as the middle class families from SA are crying due to govt incerasing taxes. PQLI has decreased enough,so i expect some steps coming ahead from them as well as some other OPEC ones. Iran is no where is slow down right now, But if OPEC maintians it production limit we can hope some recovery from new rise in demand.
No doubt this thing will take time, but its just one reason i expect oil prices to rebound. And secondly appreciation in dollar might give some boost too ahead of its election year.
Even I was looking for a thread on oil to share my ideas and know other fellow trader’s ideas 
Well, for Oil, I would say that
A record build up in US crude oil inventories rekindles the oversupply concerns.
An official from Saudi Arabia says that they were “not prepared” to the cut the oil production.
The crude oil inventories data by EIA showed a rise of 2.1M barrels last week, to reach 504.1 million barrels, the third week of record highs.
All these things makes me 101% bearish on crude oil! Unless we see a stern and collective decision, there is no way we can see any normality in the prices of crude oil.