Any way for a rookie to trade oil/gas?

I know most of you guys know a lot more than I do about trading and stocks. With that being said, my question :

Is there any simple way I can trade the price of gas/oil. Obviously, I believe gas will be going up even higher short term. I don't have a lot of capital I'm willing to risk on this .... any ideas?! TIA.

 

Looks like we're getting close to the top. Waiting for cabdriver or barber for final confirmation.

 

Always getting in at the top. Oh well. I was interested in any way to trade oil/gas with an indexing type stock. Futures and options are way too risky for me at this time. Tried that before with stocks ... don't want to do it again soon.

 

http://www.stockmaven.com/ICenergy.htm

http://finance.yahoo.com/q?s=oih

 

There is a citibank stock called OilB that tracks the price of Brent oil but I can't find a link for it.

LOL Hamlet

However, unlike the dot.com stocks oil is finite. Maybe this is how it is going to stay...

 

sooooooo when i see that the QM opened at 67.28 and closed at 69.85, how much is each point worth per contract?

i know, i know, i could look this up. first night in about 15 days i might get to bed before 5am local time though, so i'm taking my chances that someone will answer and i can read it tomorrow

it's like the cobbler and his elves ...

thx

take care -

omni

 

Rookie, stay away from trading any type of futures. You will loose money the quickiest way.

Lojze

 

http://www.nymex.com/QM_spec.aspx

e-miNYsm Light, Sweet Crude Oil Futures

Trading Unit

500 barrels.

Price Quotation

U.S. dollars and cents per barrel.

Trading Hours (All times are New York time)

Sun 7:00 PM – 9:30 AM
Mon – Thu 10:00 AM – 2:30 PM
3:15 PM – 5:30 PM
6:00 PM – 9:30 AM
Fri 10:00 AM – 2:30 PM


Trading Months

The first nearby month until the tenth-to-last day of trading in the contract, when the second nearby month is also listed.

Minimum Price Fluctuation

$0.025 (2.5¢) per barrel ($12.50 per contract).

Maximum Transaction Size

50 contracts.

 

I traded the Nymex crude contract for almost a year.

Right now The oil market is one of the most professional and volatile around and I trade it no more.

If you can stomach tumultuous sessions and tough competion than good luck to you.

Personally, I know I do not stand a chance to profit consistently from this market anymore.

 

Depending what country you live in you may what to try spread betting.

companies like cityindex.co.uk allow you to bet smaller amounts that a full blown future contract would.

Plus the profits are tax free.

Are there such things in the US?