“Good luck with that Skippy!”
Oil tracks lower with stocks … another “see my shocked face moment … not”.
Although the day’s range is slightly higher than the last few days, unless
something happens here later today or tomorrow, WTI is set to see another drop
in the 20 Day Range MA come Sunday’s blog update. Starting with this week’s
MA, I’m going to track oil like I do for the SP500, which is to show both the days
range MA AND the 7 AM EST - 3:00 PM EST [New York session] MA. This will give
us a better look at the state of the oil market.
Other than that, the “Traders Course” [TC] does cover oil as well, both from a
position perspective as well a scalper [day trader] perspective, covering trading
styles from conservative to very aggressive for scalpers … ordering info over on
… take your pick, there’s 8 of them there … price is only $60, so everyone can
afford it that’s serious about trading … I’m not entertaining “tire kickers” any
longer.
For oil position traders, I would recommend trading the various ETF’s and/or
ETN’s in crude oil, which I know have leveraged holdings, from both the long and
short side … for example, there’s an ETF that is always “short” oil, so whenever
oil goes down, the ETF stock goes up … both Fidelity & Schwab offer trading in
all stocks, bonds, options, ETF’s & ETN’s commission free now, so you can
effectively trade the ETF’s, no matter the size, from the long side without cost
… download the FX CHOICE DEMO and run the algorithms for signals … except
for the initial cost of the algo, you have ZERO TRADING COSTS … quite frankly, I
don’t know how it can get any better for you … in addition, those that don’t like
CFD’s, the leverage they use, or the fact you’re using an offshore broker [trust me,
your confidence in the U.S. brokerage community is totally misplaced and
misguided], use the ETF’s to short term trade as well … even though the CFD in
oil is commission free, your stock ETF trades would be as well … so there’s that
option as well for you … I don’t agree with it, but it’s your money so do what you
want. However, no matter how you slice the trade, you’re gonna need the TC to
get the oil algorithms … they come with support should any problems or
questions arise … so, the ball is in your court if you’re gonna follow oil here, cuz
when oil gets more active and I start trading it, the charts aren;t going to make
any sense to you without the TC.
Until tomorrow mi amigos … Onward & Upward!!
Have a great day everybody!
-vegas
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