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Gold vs Oil - Which One?


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Gold vs Oil - Which One?

  #1 (permalink)
Dxbtrader
Dubai, UAE
 
Posts: 10 since Jun 2019
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Hi,

I am writing this post to find out what futures traders think about when it comes to choosing between trading gold or oil.

Iíve seen that a lot more people trade oil as opposed to gold. Is there a reason for this?

Am I missing something?

I want to focus on one of these two commodities, however I seem to be struggling to find gold futures traders who are doing well. I would have thought oil would be harder to trade than gold.

What made people choose one over the other?

Thank you in advance for your help.

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  #2 (permalink)
 jokertrader 
NYC, NY
 
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Depends on your strategy. Oil gives you small moves with rotations if that works. Gold gives you clean bigger moves but not all the time. Many times GC can be choppy and is USD dependent inversely. What is your style and what times can trade? This might narrow down your choice


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  #3 (permalink)
Dxbtrader
Dubai, UAE
 
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jokertrader View Post
Depends on your strategy. Oil gives you small moves with rotations if that works. Gold gives you clean bigger moves but not all the time. Many times GC can be choppy and is USD dependent inversely. What is your style and what times can trade? This might narrow down your choice


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Thank you. Yeah it makes sense what you said about the rotation. Iíve seen that first hand.

My style is short time frame day trading and can generally trade the opening hours of the US market.


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  #4 (permalink)
 jokertrader 
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So if you can trade until about 11 am est u can look at crude and will give u 1 or 2 setups if u wait for the 9 am open to settle
Gold has a micro product to practice but crude does not so be careful being live


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  #5 (permalink)
 
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 LittleFinger 
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Dxbtrader View Post
My style is short time frame day trading and can generally trade the opening hours of the US market.
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Then trade Oil. Gold is on a nice rally and would be good for longer term trend trades, but oil is where the fast money is. Watch that leverage though..

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  #6 (permalink)
Dxbtrader
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LittleFinger View Post
Then trade Oil. Gold is on a nice rally and would be good for longer term trend trades, but oil is where the fast money is. Watch that leverage though..



Appreciated, thank you.

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  #7 (permalink)
 
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 eferggbd 
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jokertrader View Post
So if you can trade until about 11 am est u can look at crude and will give u 1 or 2 setups if u wait for the 9 am open to settle
Gold has a micro product to practice but crude does not so be careful being live


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What type of setups do you look for on oil during that time period Joker?

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  #8 (permalink)
 jokertrader 
NYC, NY
 
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Crude opens at 9 am EST and its difficult to see direction for sometime (some say initial balance is 30 mins some say 1 hour)
There are primarily 2 setups - a breakout and reversal
a) once it meanders or shows its hand (compared to yesterday's value area, high, low etc), you can look for a breakout.. but probably wait for test of that level

b) For reversal you want to see volume spike and then reverse

look at FT 71's setups and see what you think?
Of course this does not lend itself to easy backtesting

I also think order flow and liquidity levels are important to learn

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  #9 (permalink)
 myrrdin 
Linz Austria
 
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nicolas burr View Post
What to expect in nearest days from oil and gold futures amid most-talked-about coronavirus?

I expect only limited reactions.

WHO did declare a global health emergency yesterday, but there was no strong reaction regarding global markets.

The number of new cases outside of China is very limited.

Best regards, Myrrdin

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 SMCJB 
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nicolas burr View Post
What to expect in nearest days from oil and gold futures amid most-talked-about coronavirus?

Over simplifying it a little ...

If the virus is a major problem demand goes down so Oil goes down (and other Commodities & Equities as well), and fear goes up so Gold goes up (and Bonds, Eurodollars and probably the USD and Bitcoin).

If it's a big overreaction and the virus fades out. I think it's far to think that Oil could retrace some/much/all of the $8 it's lost in the last 10 days / $5 it's lost in the last week. Similar for equities, bonds, etc

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