“Trade oil they said … it’ll be fun they said!”
Directly below, this week’s 20 Day Range MA in WTI Crude Oil.
click on chart to enlarge
Some details on the “Traders Course” [TC] over on the
www.traderzoogold.blogspot.com website … if you don’t want to trade oil futures,
either the regular or the mini contract on the CME, AND you’re a U.S. citizen or
resident, about the only place I know of where most of the time the WTI oil CFD
has a bid/offer spread of 3 cents with no commission is FX Choice … It’s not a
fixed spread, and can change, but most of the time it stays at 3 cents, and they
accept U.S. clients. By the way, the only other 2 CFD’s worth trading there are the
DAX30 and the DOW30 … if interested, check them out at this link:
Quite frankly, if I had a 1 cent - 3 cent bid/offer spread in an oil CFD, either fixed
or in a consistently reliable variable format, with no commissions, I’d trade it
exclusively … oil with low “net costs” to trade is the best market going … the
problem for most is that the standardized futures contracts are too big for
smaller traders, and their margin requirements to stiff … and for now, it doesn’t
look like it’s gonna get better anytime soon.
Outside of the oil drone attack 2 weekends ago, nothing has changed in oil
… world demand is weak and supplies are ample … until that dynamic changes,
I’d rather trade oil from the long side, simply cuz of geopolitical concerns that
will support price going forward no matter what … it’s simply a trading market
in the 50’s.
Onto the week … until tomorrow mi amigos … Onward & Upward!!
Have a great rest of your weekend everybody!
-vegas
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