You live in Canada and you can't do basic fundamental research on oil? - the stocks - canadian oilsands trust, opti, connacher, su.to... yadda yadda yadda. It sounds like you need a babysitter. 8 bucks an hour will get you one. A reputable oil gas fund manager will let you in for 150k look up resolute ...
Why do people have to be fucking rude ? What's up with that ? I am just seeking some trading advice on a trading forum.
Do a site search with the term "stock_trad3r" He likes to give trading advice I'm sure he'll help you out. As far as oil is concerned if you're in Canada then I assume you trade the TSX.Here is their ETF list.You'll find what you're looking for there. http://www.tsx.com/en/pdf/ETF_Sector_Sheet.pdf
Here some instruments that thade on stock exchanges that correllate to crude oil. I suggest you do your research and find out exactly what these things hold if you plan on trading them, I'll just give their official profile, also make sure you check their volume before trading. ---- DBE - PowerShares DB Energy The investment seeks to track the price and yield performance, before fees and expenses, of the Deutsche Bank Liquid Commodity Index - Optimum Yield Energy Excess Return. The index is a rules-based index composed of futures contracts on some of the most heavily traded energy commodities in the worldâ Light Sweet Crude Oil (WTI), Heating Oil, Brent Crude Oil, RBOB gasoline and Natural Gas. The index is intended to reflect the performance of the energy sector. The fund is nondiversified. ---- USO - United States Oil The investment seeks to reflect the performance, less expenses, of the spot price of West Texas Intermediate (WTI) light, sweet crude oil. The fund will invest in futures contracts for WTI light, sweet crude oil, other types of crude oil, heating oil, gasoline, natural gas and other petroleum based-fuels that are traded on exchanges. It may also invest in other oil interests such as cash-settled options on oil futures contracts, forward contracts for oil, and OTC transactions that are based on the price of oil. The fund is nondiversified. ---- USL - United States 12 Month Oil The investment seeks to replicate the changes in percentage terms of the price of light, sweet crude oil delivered to Cushing, Oklahoma, as measured by the changes in the average of the prices of 12 futures contracts on crude oil traded on the New York Mercantile Exchange. The fund will consist of the near month contract to expire and the contracts for the following eleven months, for a total of 12 consecutive monthsâ contracts. When calculating the daily movement of the average price of the 12 contracts each contract month will be equally weighted. It is nondiversified --- UGA - United States Gasoline The investment seeks to track, net of expenses, the changes in percentage terms of the price of gasoline. The trust will invest in the futures contract on unleaded gasoline delivered to the New York harbor traded on the New York Mercantile Exchange that is the near month contract to expire. ---
Thanks for these advices, ill will do my reading. I haven't been around long on these boards but don't worry , I know about Stock_Trad3r ... Very annoying , and probably very broke...
Trading CL or QM is not an option for small time traders. The size is simply too big. The best way is through USO. It offers the best correlation. DXO offers very poor correlation. Do the math and you'll see that it's true. Since you too are also in Canada, STAY AWAY FROM HOU. It is a horrible product. The same correlation as DXO. I don't know why people buy this. It has daily "rebalancing" which is a joke. I'm buying USO and XEG myself.
Just accept the fact that there are alot of very very rude people on here. It can be a cynical, arrogant bunch. However, be happy that Elite trader has the best ignore function of any message board on the internet. I for one have absolutely no problem with the trolls here. I just ignore them at first sight. You should do the same.
Yes my very basic maths seem to agree with you about the DXO, and those same maths where the reason for this thread.