I highly recommend you ask this question on the Energy Forums on Elite Trader. They beat this theme into the ground with much more insights than you'll get here. Here are some good links as well: http://upge.wn.com/?template=cheetah-photo-search/index.txt&query=oil&language_id=-1 http://tradingcrude.blogspot.com/
Thanks for the advice and links, Shine. ET is the bomb! It's as close to the old days of "Compuserve's Financial Forums" that I've found on the web. My primary interest in ET is to sample the threads here to get a better idea of current state thinking. My plan is to re-examine and update my approach to markets. The biggest value of news is in building an underlying fundamental picture of the underpinnings of a given market. Oil is a big complex beast with many moving parts / influences. This forum seems to have a high quotient of experienced traders who are successful, expecially with electronic markets and shorter time frame trading. These are areas of interest for me going forward. BR/ FreeMarketRider
a problem exacerbated by the typical US engine being an 8 litre v8 five times larger than is necessary...
ET is a great site, but beware: a lot of the advice is from people that sound good at first and then, after a little probing, are found to have absolutely no idea what they are talking about. But ET is GREAT for generating trading ideas and hearing key concepts as you mentioned. Just keep in mind that there's an abundance of wannabe's and posers...
Thanks again for the heads up. Success in trading (depending on time frame) is based (30 - 40%) on an ability to filter information to arrive at a basis for taking a position. The balance (60 - 70%) is based on how trades are managed. Risk tolerance, risk/reward, capitalization, market selection, etc. There are a lot of moving parts here which is why it's so hard to accomplish. All that being said once you have a viable approach to the above, it comes down to tape reading and decision-making