Maybe its the lack of patience I have noticed about myself at times that attracts me to this market but I like the fact that my day trades in crude oil don't last long I either get stopped out or hit my profit target, normally within minutes. Sometimes faster than that.
This may not be a fit for everyone and there are so many ways to day trade futures subject for a whole book I think it usually provides for enough moves, these are the times with the most active volume. I then look for what we call the counter trend move. I must warn you in advance, that if you are not disciplined enough to place stops on each trade you can get hurt pretty bad as sometimes the counter move I look for does not happen and the market may make another big leg against me.
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So what do I do? I set up my crude oil futures chart with Crude oil Support and Resistance levels. I like to use an indicator similar to RSI and normally I will use either volume charts or range bar charts. I like volume charts better for the short term day-trading because I feel that when the market moves fast you will get a better visual picture using volume charts that waiting for a 3 minutes chart to complete for example.
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Also if the market is "dead", low volume and not much movement, you may get false signals on the time charts just because time has passed and the bars complete. I like to set up my future trading platform with automated target and profit to be sent to the market as soon I enter my trade. We have more than a few FREE trading platforms that will accomplish that.
Below is an example of a good day trading set up from April 8th I used 18 ticks range bar chart:. What I was looking for is an exhaustion in selling, let the "red bars" change to green. I was also looking for the REL study to go below 15 and then cross back above When that happened I received my signal in the form of the green triangle.
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That for me triggered a buy right around In my settings I like to have 21 ticks profit target and 27 ticks stops loss. In this example I was able to take my profit target. The risk of loss in futures trading can be substantial, carefully consider the inherent risks of such an investment in light of your financial condition. Very similar set up to the one above, except this time the counter move did not happen and I got stopped out pretty close to the low of the day Crude Oil as another possible market to look at for day-trading.
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Briefly touch on the use of counter trend moves in day trading crude oil futures. These are risky markets and only risk capital should be used. Past performances are not necessarily indicative of future results. Any statement of facts herein contained are derived from sources believed to be reliable, but are not guaranteed as to accuracy, nor they purport to be complete.
No responsibility is assumed with respect to any such statement or with respect to any expression of opinion herein contained. Readers are urged to exercise their own judgment in trading! Day trading generally is not appropriate for someone of limited resources and limited investments or trading experience and low risk tolerance. You should be prepared to lose all of the funds that you use for day trading.
And more importantly, you should not fund day trading activities with funds required to meet your living expenses or change your standard of living. You should be wary of advertisements or other statements that emphasize the potential for large profits in day trading. Day trading can also lead to large and immediate financial losses.
Day trading involves aggressive trading, and you will pay commission on each trade. The total daily commissions that you pay on your trades will add to your losses or significantly reduce your earnings.
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Being one of the top gas wholesaler in Europe, we offer to our business partners competitive pricing and tailor-made flexibility and structured products. With more than active counterparties, we have a wide and solid network of relationships within the industry. DXT has sourced LNG supplies from most majors, projects and state companies whilst being a reliable supplier to our customers in Europe, Latin America and the Caribbean. Our ability to offer fast, flexibly and reliable solutions when coupled with our extensive experience trading natural gas within all major European and North American hubs allows us to offer integrated tailored solutions to all our counterparties.
Since , DXT has started a diversification into the oil trading business. Today from our trading desk in Lugano we specialize in trading and managing risks deriving from LNG and Natural Gas oil-linked contracts as well as assisting our counterparties in covering their hedging needs across the barrel crudes, distillates, fuels and bunker fuels both on linear and non-linear derivatives.
With a combined expertise encompassing risk management, analytics, logistics, operations and marketing the company relies on fundamental analysis as well as information from physical trading to inform positional views and take price risk in the commodity markets.