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WTI Crude Oil Trading

  • #7,641
  • Apr 22, 2020 12:26am Apr 22, 2020 12:26am
Quoting Tuleap
Crude Oil and Brent (June contracts) dropped significantly. USO, the biggest energy ETF lost -32% (current price $2.81) during the previous trading session. Oil volatility index is on the historical highs {image} https://www.quantower.com/
After the storm, the calm

Its been this way for decades, we had big dumps of stock, commodities, currencies, and then steady rises before another dump.

You buy low, sell high
COT: The precious data ignored
  • #7,642
  • Apr 22, 2020 12:31am Apr 22, 2020 12:31am
Good morning @ all,

2$ more down and we can buy at 10
  • #7,643
  • Apr 22, 2020 12:34am Apr 22, 2020 12:34am
up up and away we go
Attached Image (click to enlarge)
Click to Enlarge Name: oil15.png Size: 32 KB
yes yes yes
  • #7,644
  • Apr 22, 2020 12:42am Apr 22, 2020 12:42am
My broker warned me their CFD could go to 0, if it happens they will terminate it and close all positions

Watch out the june expiry
COT: The precious data ignored
  • #7,645
  • Apr 22, 2020 12:44am Apr 22, 2020 12:44am
What makes me think its a temporary move down is the fact currencies such as CAD or NOK are not affected at all by the fall of oil prices.

Time will tell
COT: The precious data ignored
  • #7,646
  • Apr 22, 2020 12:59am Apr 22, 2020 12:59am
Quoting kuroro001
My broker warned me their CFD could go to 0, if it happens they will terminate it and close all positions Watch out the june expiry
We trade CFDs. We will not earn on move up, because of contango. Let's say Nov contract is $30 (now). But brokers will 'eat' all contango between contracts.
We could earn when (sample) Nov contract is at $10 and would rise up to $30.

Me: Out of the market or daytrading only.
  • #7,647
  • Apr 22, 2020 1:07am Apr 22, 2020 1:07am
Quoting kuroro001
My broker warned me their CFD could go to 0, if it happens they will terminate it and close all positions Watch out the june expiry
If Oil as single instrument is too risky, the metalls are under pressure too. Have look at copper, palladium and platin. The metalls move downward as demand is shrinking. As long as the USA has to fight the corona virus the metalls will slide.

This might also interesting for you...

Regards

Chriss
  • #7,648
  • Apr 22, 2020 1:12am Apr 22, 2020 1:12am
Quoting chrissfx
{quote} If Oil as single instrument is too risky, the metalls are under pressure too. Have look at copper, palladium and platin. The metalls move downward as demand is shrinking. As long as the USA has to fight the corona virus the metalls will slide. This might also interesting for you... Regards Chriss
Then its the case for all commodities ? soybean, corn, wheat, sugar, cattle

But to me this coronavirus is overated, demand for such commodities will have to pick up, as we need those commodities
COT: The precious data ignored
  • #7,649
  • Apr 22, 2020 1:22am Apr 22, 2020 1:22am
Quoting kuroro001
{quote} Then its the case for all commodities ? soybean, corn, wheat, sugar, cattle But to me this coronavirus is overated, demand for such commodities will have to pick up, as we need those commodities
Yes, overrated and speculators driven. We do need commodities and they are physically important for the whole world industry. And if the economy starts again price will shot up as companys need the metalls as usuall.

In germany, even wood (hardware store) is actually rare. Why? Very short supply routes (3 days only). the wood factories are temporally closed. Same problem with the car industry, right now.

I guess same with the metalls.
  • #7,650
  • Apr 22, 2020 1:26am Apr 22, 2020 1:26am
Quoting chrissfx
{quote} Yes, overrated and speculators driven. We do need commodities and they are physically important for the whole world industry. And if the economy starts again price will shot up as companys need the metalls as usuall. In germany, even wood (hardware store) is actually rare. Why? Very short supply routes (3 days only). the wood factories are temporally closed. Same problem with the car industry, right now. I guess same with the metalls.
Yes true, imagine all commodities near 0 dollar or the same fate as oil ? Bankruptcy every day in every industry...i can't believe it.

We have exeptional time, but things will cool off soon
COT: The precious data ignored
  • #7,651
  • Apr 22, 2020 1:37am Apr 22, 2020 1:37am
I lost $7.000 on last friday because i must close my long position before rollover.. but it's okay, because if i hold my long, i might lose more than $20.000..

Thankyou for this thread which give me an explanation about rollover and etc.. especialy for you Ll1979 thankyou sir, last couple days you always help by answering my question about rollover ..
  • #7,652
  • Apr 22, 2020 1:50am Apr 22, 2020 1:50am
Quoting Moty
up up and away we go {image}
hi moty, what about @6 area visit before this, I will be long jun contract around 6, presently I am short.
don't predict direction, but dance with flow of water
  • #7,653
  • Apr 22, 2020 1:59am Apr 22, 2020 1:59am
only for jun-crude contract long area for self-trading green line area for long entery.



https://charts.mql5.com/24/363/oilmn...al-limited.png
don't predict direction, but dance with flow of water
  • #7,654
  • Apr 22, 2020 2:02am Apr 22, 2020 2:02am
Quoting priceaction1
only for jun-crude contract long area for self-trading green line area for long entery. https://charts.mql5.com/24/363/oilmn...al-limited.png
Can i buy near 0 dollar ?
COT: The precious data ignored
  • #7,655
  • Apr 22, 2020 2:14am Apr 22, 2020 2:14am
Quoting kuroro001
{quote} Can i buy near 0 dollar ?
would love this, as I am short will give you @ 0.1 if you want.
don't predict direction, but dance with flow of water
  • #7,656
  • Apr 22, 2020 2:33am Apr 22, 2020 2:33am
decided to trade Brent today given its at historical lows and was holding up better than wti in general. whilst wti is sitting more or less where it was, i went long brent @ 17.30 out dollar higher. but feeling very uncomfortable to hold any positions long
  • #7,657
  • Apr 22, 2020 2:40am Apr 22, 2020 2:40am
Quoting tonny47
decided to trade Brent today given its at historical lows and was holding up better than wti in general. whilst wti is sitting more or less where it was, i went long brent @ 17.30 out dollar higher. but feeling very uncomfortable to hold any positions long
Maybe there is a long wti/short brent spread strategy to play

I haven't checked it yet, i'll have a look
COT: The precious data ignored
  • #7,658
  • Apr 22, 2020 2:40am Apr 22, 2020 2:40am
Quoting kuroro001
{quote} Can i buy near 0 dollar ?
see the future.
find your self where we are at present

isn't it shows crude recent move?
Attached Image (click to enlarge)
Click to Enlarge Name: 32.png Size: 303 KB
don't predict direction, but dance with flow of water
  • #7,659
  • Apr 22, 2020 2:43am Apr 22, 2020 2:43am
just realized that i am still unable to place wti futures cfd trades (normally 3 cents spread and no overnight fees). the broker explained that this is because volatility.

funny enough, they still allow to trade xtiusd where the spread has increased from 6 to 15 cents plus need to pay 8.8 cents per night on top
  • #7,660
  • Apr 22, 2020 2:44am Apr 22, 2020 2:44am
Instead of paying to sell oil, why sellers don't just throw the oil away or burn it? Is there such option?
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