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WTI Crude Oil Trading

  • #8,061
  • May 8, 2020 2:09pm May 8, 2020 2:09pm
Quoting Ll1979
{quote} Commissions are normally a bit higher when trading CL futures compared to CFDs but they offer tight spreads (normally 1 tick) with a tick being $10 a contract you'll save a few ticks ($30) on a roundtrip. Then that commission isn't that bad after all. But trading futures require more money, data subscriptions and software licenses etc. So one have to do some homework before jumping in. If you consider trading futures let me know i'll help you out
thanks! so how much is the commission per round trip? didnt realise that the spread is so tight!
  • #8,062
  • May 8, 2020 2:15pm May 8, 2020 2:15pm
good start,, punched in the face, then recovered

me +1300

jimb2468 + 2 800
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making money in JimB2468 trading room
  • #8,063
  • May 8, 2020 2:28pm May 8, 2020 2:28pm
Quoting tonny47
{quote} thanks! so how much is the commission per round trip? didnt realise that the spread is so tight!
That depends on the product you trade and the license plan you have when you trade ninjatrader. I am trading the free license plan with a roundtrip of $5.62 for 1 cl contract.
persistence and determination alone are omnipotent
  • #8,064
  • May 8, 2020 2:51pm May 8, 2020 2:51pm
How to owe $9 million in one day:

https://www.zerohedge.com/energy/one...owed-9-million

One of the bigger US brokers really screwed up.

Good reading if you haven't already seen it.

https://zh-prod-1cc738ca-7d3b-4a72-b...20future_1.jpg
  • #8,065
  • May 8, 2020 3:33pm May 8, 2020 3:33pm
Quoting timingchain
How to owe $9 million in one day: https://www.zerohedge.com/energy/one...owed-9-million One of the bigger US brokers really screwed up. Good reading if you haven't already seen it. https://zh-prod-1cc738ca-7d3b-4a72-b...20future_1.jpg
he’s lucky they are voiding any losses below zero
  • #8,066
  • May 8, 2020 4:20pm May 8, 2020 4:20pm
WTI is up $0.99 or 6% today but with a trading range of $1.22 there were less opportunities to get good trades as compared to yesterday.
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  • #8,067
  • May 10, 2020 7:28am May 10, 2020 7:28am
Quoting patient pip
good start,, punched in the face, then recovered me +1300 jimb2468 + 2 800 {image}
is that 1300 after commission? you must have paid around 400-600 in commissions alone, no?
  • #8,068
  • May 10, 2020 8:05am May 10, 2020 8:05am
I just found this thread, so, is there anyone who are trading OIL with GAIN CAPITAL? Did they cut your money?
Forex, my love!
  • #8,069
  • May 10, 2020 4:21pm May 10, 2020 4:21pm
Thoughts for this week ahead of contract rollover... bullish Mon-Wed, pushing price as high as poss in effort to avert another -ve plunge into rollover. Thur-Fri, consider shorts, subject to TA confirmation.

Economies may be coming out of lockdown but that doesn't necessarily mean ppl will resume their former habits at the same pace. Concerns still exist over a second wave. Thinking around 20% of the population will resume as per previous, 20% will continue to hunker down, and the 60% in between will be in 2 minds, and likely err on the side of caution, so potentially storage capacity will again be an issue into next month's contract?
  • #8,070
  • May 10, 2020 5:34pm May 10, 2020 5:34pm
I’m bullish but think we could get a pullback early in the week then more up. If there is no significant pullback and it breaks the resistance that probably indicates it’s very bullish. Seems they want up and will use any news to pump it up further
  • #8,071
  • May 10, 2020 6:17pm May 10, 2020 6:17pm
Quoting Kwame Freder
I’m bullish but think we could get a pullback early in the week then more up. If there is no significant pullback and it breaks the resistance that probably indicates it’s very bullish. Seems they want up and will use any news to pump it up further
HI Kwame,


Have got a trailing stop on most recent buy but share similar sentiment with you in terms of a dip before we get going again... here is my outlook, lets see what price does around that 21 USD mark.....
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4&1 All Time Profit: $37,496
  • #8,072
  • May 10, 2020 6:44pm May 10, 2020 6:44pm
Possible manipulation in H4 TF and bearish HCH in H1.
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  • #8,073
  • May 10, 2020 9:15pm May 10, 2020 9:15pm
Saudi money about to hit the trading floor, then Frankfurt, then London
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  • #8,074
  • May 10, 2020 9:34pm May 10, 2020 9:34pm
i see, Brent.fs oil will Retest 24-25$ in a week
  • #8,075
  • May 11, 2020 1:57am May 11, 2020 1:57am
Quoting TaoJin88
I just found this thread, so, is there anyone who are trading OIL with GAIN CAPITAL? Did they cut your money?
I have recently opened a demo account with Gain Capital Australia, trading as City Index. Just coz I can.

They offer just US Oil. No WTI or Brent, as such. Maybe that may change with legitimate account, dunno.

Daily volume in the middle tens of thousands, rarely over 100,000. Current spread 24.49 24.54. About 6.50 GM Time.

As far as CFDs go, they seem OK, and offer what seems to be futures prices on some things (probably spot, haven't checked) with quite tight spreads.

Now, what is this "cut your money"thing? I must say I haven't heard of that outside of a prison cell.
  • #8,076
  • May 11, 2020 2:25am May 11, 2020 2:25am
Quoting forexhack
i see, Brent.fs oil will Retest 24-25$ in a week
and the reason to retest 24-25 is...?
  • #8,077
  • May 11, 2020 4:15am May 11, 2020 4:15am
Arabs will also suffer great losses, if they try to prolong the situation. but okay, this is even more beneficial to consumers like Trump said, too good
  • #8,078
  • May 11, 2020 7:13am May 11, 2020 7:13am
Saudi Arabia to cut another 1Mbpd
  • #8,079
  • May 11, 2020 7:31am May 11, 2020 7:31am
Well there's the pump north. Now let's see if we get the dump south.

https://www.cnbc.com/2020/05/11/belt...le-to-pay.html

Countries have also signed so-called “barter deals” with China, and they are “in an even more difficult position,” Yu said.

Some Chinese loans are reportedly denominated in barrels of oil — a practice the World Bank has flagged as opaque, because they mask the true payment amounts.

“Since the pandemic hit the oil prices, they will have to produce more oil to repay the loans. However, the pandemic has also disrupted all kinds of industrial activities, making it impossible for these countries to meet the required production level,” Yu said. “As a result, Chinese companies will likely be handed control over joint ventures or be repaid by assets.”


China has had a track record of taking over assets when countries cannot repay their loans. One high-profile example is Sri Lanka, which had to hand over a strategic port to Beijing in 2017, after it couldn’t pay off its debt to Chinese companies.

China’s loans to countries have been shrouded in secrecy, according to reports, with Beijing often demanding public-sector assets as collateral. Between 2000 and 2017, other countries’ debt owed to China soared ten-fold, according to a study last year.

  • #8,080
  • May 11, 2020 7:34am May 11, 2020 7:34am
Based on Abonacci Levels , it is a good time to go short to reach 21.44.
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