Day trading crude oil?

Discussion in 'Commodity Futures' started by Ingrid, May 15, 2017.

  1. Ingrid


    I’ve been day trading Crude oil for the past 4 months and I’ve been consistently profitable for the last 3 months. I’ve been using 4 hour 1 minute charts, 1 day 5 minute charts and 5 days 30 minute charts. Macd-Histogram on all charts, price channels on the 1 minute chart, Bollinger bands on the 5-minute chart and envelopes and moving averages on the 30-minute chart.

    My strategy has been support, resistance, kangaroo tails, volume, price rejection and volatility (Bollinger). I basically wait until prices reach either support or resistance and I reach a decision if it’s going to break support/resistance or rejecting that price and going back (That’s why I use different time frames).

    I trade during the highest volume hours and so far, I’ve managed to trade 30-150 ticks profitably a day with 2 to 5 contracts per trade and thus far my strategy has worked well with 3-4 hours of trading a day. I also consider the U.S. energy administration’s weekly reports on crude oil inventories.

    /CL’s thick movements and volatility have really helped me out recently. I wanted to share with you my strategy so I could get your feedback on it, because even though my strategy works well I am worried that it will not last forever; I drive a 1976 Land rover and live in a 200-year-old cottage so it is safe to say I like things that are timeless and last a long consistent time. I am 23 years old and I’ve been trading for only 5 months so I really want to know what the you more seasoned traders have to say about this.

    Thanks a bunch.
    magepie and murray t turtle like this.
  2. dealmaker


    "Only constant is impermanence." -Howard Marks
    Last edited: May 15, 2017
  3. Ingrid


    Thank you for the lesson on Buddhism!

    That’s exactly what I’m looking for by coming here on E.T !
  4. dealmaker


    Howard Marks is one of the most successful traders of all time. Markets are driven by human emotion thus your strategy will work till it doesn't, capitalize on it while you can.
    Handle123 and Ingrid like this.
  5. Overnight


    Be prepared for a change in market behavior after May 25th. 4 months a market behavior makes not into the future.
  6. Ingrid


    That’s exactly my question. Do you think it will last if so how long? Is it timeless? Does it work on any vehicle or instrument?

    Because after all I am analyzing price and volume which I think are the only things you can analyze on a chart!
    murray t turtle likes this.
  7. Ingrid


    Why May 25th?
  8. Overnight


  9. First your profile says you are 52, and here you say you are 23. Hence, your very first opportunity to build some rapport is shot.

    Anyone who comes to ET and claims profitability in only a few months is absolutely full of shit.

    If you truly were making 30-150 ticks on 2-5 contacts, you would be making in the range of $600 (30 ticks for 2 contracts) to $7,500 (150 ticks on 5 contracts). Obviously all I can do with the info you present is give a high on low range, but if your profitability falls anywhere in here, then you shouldn't give a shit what anyone on ET says.

    Any real trader making 1k per day wouldn't need anybody's input!

    On that note, go troll somewhere else.
  10. motif


    What times of the day do you trade oil?
    #10     May 15, 2017