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WTI Crude Oil Trading

  • #8,561
  • Jun 19, 2020 12:51pm Jun 19, 2020 12:51pm
Quoting detector
{quote} DC, I have posted the TMA indi, from the snap shot you can see the twists and turns where price reverses, {file} {image}
hey what is that other indicator with the green and purple bars??????
  • #8,562
  • Jun 19, 2020 2:12pm Jun 19, 2020 2:12pm
Quoting EventsTrader
{quote} That is surprising. On no news too. {image}
I was wondering about the same thing. WTI went up by $0.52 today but I still wonder what caused the big drop 4 hours ago.
Attached Image (click to enlarge)
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  • #8,563
  • Jun 19, 2020 3:23pm Jun 19, 2020 3:23pm
Quoting Hutch
{quote} I was wondering about the same thing. WTI went up by $0.52 today but I still wonder what caused the big drop 4 hours ago. {image}
I'm thinking the WHO news may have played a role along with general market sentiment. Quadruple witching could have been at play too.
We must learn who is gold, and who is gold plated
EventsTrader Live All Time Return: 54.4%
  • #8,564
  • Jun 20, 2020 4:31am Jun 20, 2020 4:31am
Producers are hedging shorts at a fast pace

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COT: The precious data ignored
  • #8,565
  • Jun 20, 2020 7:43pm Jun 20, 2020 7:43pm
Hey guys I’m new to trading crude oil. I have a question hope someone can help me with this. I use FXCM to trade and I bought oil when it dipped down at $26. Was planning to hold it for long term but on Friday my trade was automatically closed. Any reason why they would close my trade? Does crude oil have limit on how long you can hold the trade?
  • #8,566
  • Jun 20, 2020 10:52pm Jun 20, 2020 10:52pm
Quoting Nash86
Hey guys I’m new to trading crude oil. I have a question hope someone can help me with this. I use FXCM to trade and I bought oil when it dipped down at $26. Was planning to hold it for long term but on Friday my trade was automatically closed. Any reason why they would close my trade? Does crude oil have limit on how long you can hold the trade?
You traded a future based cfd which expired.

https://www.fxcm.com/markets/cfd-expirations/
persistence and determination alone are omnipotent
  • #8,567
  • Jun 20, 2020 10:57pm Jun 20, 2020 10:57pm
Quoting Ll1979
{quote} You traded a future based cfd which expired. https://www.fxcm.com/markets/cfd-expirations/

oh right never knew that. If I want to hold long term which broker do I use?
  • #8,568
  • Jun 21, 2020 6:19am Jun 21, 2020 6:19am
Quoting Nash86
{quote} oh right never knew that. If I want to hold long term which broker do I use?
Don't know i don't trade cfds anymore. ETFs could also be a nice fit.
persistence and determination alone are omnipotent
  • #8,569
  • Jun 21, 2020 7:45am Jun 21, 2020 7:45am
Quoting Nash86
{quote} oh right never knew that. If I want to hold long term which broker do I use?
if you trade gas or oil with FXCM you'll face expiration every months, auto close every months.
Not to mention daily swap you'll lose everyday for holding it

As Ll1979 said, you may try ETF.
Check all brokers with ETF (i use Saxobank for example) but there are plenty of others

You can hold them for as long as you want (unless the ETF is delisted but you shall be warned weeks ahead)
Fees are minimal usually
And one thing, never hold long term leveraged ETF
COT: The precious data ignored
  • #8,570
  • Jun 21, 2020 3:31pm Jun 21, 2020 3:31pm
Quoting kuroro001
{quote} if you trade gas or oil with FXCM you'll face expiration every months, auto close every months. Not to mention daily swap you'll lose everyday for holding it As Ll1979 said, you may try ETF. Check all brokers with ETF (i use Saxobank for example) but there are plenty of others You can hold them for as long as you want (unless the ETF is delisted but you shall be warned weeks ahead) Fees are minimal usually And one thing, never hold long term leveraged ETF
Wasn't aware for a contract you would face a daily charge unless it's broker rules, the contract has all rolled in the spread, strange behaviour
I don't need to be good at the game, only good enough to beat my opponent,
  • #8,571
  • Jun 21, 2020 11:18pm Jun 21, 2020 11:18pm
Quoting detector
{quote} Wasn't aware for a contract you would face a daily charge unless it's broker rules, the contract has all rolled in the spread, strange behaviour
Brokers are here to rip you off, nothing more
Check the robinhood broker, so called free and very good. So many people trading off that platform, while owners have sold your positions for 50M of dollars to Wall Street so they can trade against you

That's why i mostly deal with ETF, you buy, hold, and come back later with profits
COT: The precious data ignored
  • #8,572
  • Jun 21, 2020 11:52pm Jun 21, 2020 11:52pm
Quoting kuroro001
{quote} Brokers are here to rip you off, nothing more Check the robinhood broker, so called free and very good. So many people trading off that platform, while owners have sold your positions for 50M of dollars to Wall Street so they can trade against you That's why i mostly deal with ETF, you buy, hold, and come back later with profits
ETX don't charge for the contract daily rollover (it's reflected in the spread) however no expiry they charge the rolling, I just may have hit lucky with my broker
I don't need to be good at the game, only good enough to beat my opponent,
  • #8,573
  • Jun 22, 2020 12:43am Jun 22, 2020 12:43am
Quoting detector
{quote} ETX don't charge for the contract daily rollover (it's reflected in the spread) however no expiry they charge the rolling, I just may have hit lucky with my broker
What broker do you use?
  • #8,574
  • Jun 22, 2020 7:44am Jun 22, 2020 7:44am
Quoting shiftyxxpc
{quote} What broker do you use?
If you google ETX you will find them, hope this helps
I don't need to be good at the game, only good enough to beat my opponent,
  • #8,575
  • Jun 22, 2020 8:50am Jun 22, 2020 8:50am
wti is very bullish but may not be ready to break higher yet. too risky for me to try a short, would rather wait for it to drop for a long entry
  • #8,576
  • Jun 22, 2020 10:35am Jun 22, 2020 10:35am
Crude has had a difficult time staying above the $40 handle. We are there again on very light volume today.
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We must learn who is gold, and who is gold plated
EventsTrader Live All Time Return: 54.4%
  • #8,577
  • Jun 22, 2020 11:51am Jun 22, 2020 11:51am
Quoting EventsTrader
Crude has had a difficult time staying above the $40 handle. We are there again on very light volume today. {image}
would be hard to imagine the larger spike (bigger than any printed previous) would be buying at this level, going for the Kansas City shuffle,
I don't need to be good at the game, only good enough to beat my opponent,
  • #8,578
  • Jun 22, 2020 2:29pm Jun 22, 2020 2:29pm
WTI went up by $1.22 or 3% today but started the day on a precarious note registering today's low of $37.67 on its first candle.
Attached Image (click to enlarge)
Click to Enlarge Name: WTICOUSDH1.png Size: 37 KB
  • #8,579
  • Jun 23, 2020 1:46am Jun 23, 2020 1:46am
Hidden bearish divergence m15 at 41 dollars
Cancelled at 42.25 dollars
COT: The precious data ignored
  • #8,580
  • Jun 23, 2020 2:27am Jun 23, 2020 2:27am
Hello guys,

Hope you all doing well. Just closed longs i was keeping for some time with good profit.
Double top in the making? trying small short here.

good luck
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