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Become very knowledgeable on trading crude oil


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Become very knowledgeable on trading crude oil

  #11 (permalink)
 huracan 
Gahanna, OH
 
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dyst View Post
What was the slippage like back them? I tried something similar before in 2019 and ended up with big slippage... that ate into the profit

By 2019 I had stopped trading it, but when I traded it successfully the bid-ask spread was reasonable. I don't remember the slippage being a problem then. I had this strategy automated in NT7 and it worked for a while (years), until it didn't.

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  #12 (permalink)
 
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 dyst 
Singapore
 
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Interesting. Btw I tried this last yr and I ever had 10 ticks slippage triggered on my sell stop trigger order... for 1 EIA report

Ever since that happened, I kinda stopped this strategy too so I have no clue how it performs now either

ps: before that big slippage happened, I was also thinking that *maybe* I figured an easy, foolproof way to make money on EIA but it seems the MM knows about our game and has put an end to it lol.




huracan View Post
By 2019 I had stopped trading it, but when I traded it successfully the bid-ask spread was reasonable. I don't remember the slippage being a problem then. I had this strategy automated in NT7 and it worked for a while (years), until it didn't.


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  #13 (permalink)
 Trailer Guy 
Aguanga, CA USA
 
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Good thing to be aware of is who the other players are. This is the proverbial African watering hole and you are a chipmunk. The hedge funds seem to get an idea and go big while the huge commodity houses play amazing games showing us that hedge funds are sometimes the dumb money.

Sign up with John Kemp at Reuters, the London based energy reporter. It is free. He posts a lot including COT positioning.

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  #14 (permalink)
 
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 cdnftrstdr   is a Vendor
 
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On top of what others mentioned -

It won't necessarily help with your trading per se, but if you are really interested in the oil industry read "Oil 101"
by Morgan Downey. Some of the chapters are pretty heavy about oil specifically and what its made up of, little too much for me, but others about how its drilled etc are interesting.

As well I recommend tracking Tracy Shugart, goes by @chigrl on twitter. Shes been on plenty of podcasts, shes an oil trader I feel is good for getting some info from. Won't make you a pro oil trader, but if you are a fan of podcasts and want to listen about oil trading tales etc. and a traders journey, go dig up some of those.

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  #15 (permalink)
 
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 Tiffsgreta 
Kanab utah/usa
 
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lexknight View Post
On top of what others mentioned -

It won't necessarily help with your trading per se, but if you are really interested in the oil industry read "Oil 101"
by Morgan Downey. Some of the chapters are pretty heavy about oil specifically and what its made up of, little too much for me, but others about how its drilled etc are interesting.

As well I recommend tracking Tracy Shugart, goes by @chigrl on twitter. Shes been on plenty of podcasts, shes an oil trader I feel is good for getting some info from. Won't make you a pro oil trader, but if you are a fan of podcasts and want to listen about oil trading tales etc. and a traders journey, go dig up some of those.

These are both excellent tips Lexnight - thank you for this info!

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  #16 (permalink)
 
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 Tiffsgreta 
Kanab utah/usa
 
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Trailer Guy View Post
Good thing to be aware of is who the other players are. This is the proverbial African watering hole and you are a chipmunk. The hedge funds seem to get an idea and go big while the huge commodity houses play amazing games showing us that hedge funds are sometimes the dumb money.

Sign up with John Kemp at Reuters, the London based energy reporter. It is free. He posts a lot including COT positioning.

Thanks to you trailer guy for the great tips!

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  #17 (permalink)
bob666s
Auckland + auckland/new zealand
 
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Tiffsgreta View Post
I wonder if anyone has any advice on how I could become very knowledgeable on trading crude oil. I am thinking books or websites that I could read from the ground up. If anyone has any advice, I would love to hear it.
I have a futures account, and I have not invested in oil - it seems so volatile.
Happy Day to you!
Greta

ok it's been a month. How much knowledge have you gained? haha

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  #18 (permalink)
 
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 Tiffsgreta 
Kanab utah/usa
 
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bob666s View Post
ok it's been a month. How much knowledge have you gained? haha

I'll keep this short and sweet - I'm reading a book called 'Oil 101' that someone kindly suggested and I do like background on anything I do. As to making trades - not yet. Still don't feel the knowledge bubbling over bob666s. I'm not a scalper or a day trader but a long term swing trader. I like option spreads, which give you a deal more flexibility and time to watch the market.

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  #19 (permalink)
bob666s
Auckland + auckland/new zealand
 
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I appreciate your frank reply. I trade energies for a family office. PM me, I'll give you some ideas on how to trade oil profitable in the long run. (it's not technical analysis).

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  #20 (permalink)
 
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 Big Mike 
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Why does it need to be a direct message? Why not just make a normal post?

bob666s View Post
I appreciate your frank reply. I trade energies for a family office. PM me, I'll give you some ideas on how to trade oil profitable in the long run. (it's not technical analysis).

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