Day Trading

Is Trading Crude Oil More Profitable Than Forex?

Is oil in your future? Trading Oil Futures can be a
profitable yet tricky tak if not handled with care. Although
there is unlimited potential to your returns you must have a
solid game plan or failure can be inevitable. But there is
hope! Droves of traders play the Oil Futures market in hopes of
earning handsome returns. Some do well if they know a thing
or two and some don’t. Beleive it or not oil can be pretty
predictable and once you have a winning system in place can
earn you large profits every morning. Just scalping a few
pennies 3-7 times every maorning can earn a trader $1,000’s
depending on the size of there account. On an average day it is fair to see over 250,000 contract’s exchanged by the closing at 5:15 eastern. Typically, the
majority of these contract’s are exchanged between the
hour’s of 8:00 A.M.-11:00 A.M. & 1:00 P.M. & 2:00 P.M
Eastern time. This is what I like to call “Rush Hour”. You
can expect the largest volume being exchanged during these
time frames which in return you can earn the largest
profits. If you want to participate, you will need to open a
brokerage account that will execute your trades via a
clearing house. This may sound a little complicated but it’s
not. One thing you do need to know is 95% of brokerage firms
require a credit check. The reason they do this is to insure
themselves in the event of a calamity, God forbid that
happens. However, if you are credit challanged there are a
handful of brokers that will allow you to open a new account
without a credit check. You just need to know who they are. Brokers typically ask for a minimum deposit of $2,500 or more. Once this is done your ready to trade tight? Wrong.
Lets talk about margins. They are typically $1,000 per
contract. This means with a $2.5k balance you can trade 2
contracts. Once you have an account the next thing you need
to do is get some charts and a game plan. I could go into
chart analysys for hours but I’ll save that for another
time. The bottom line is have a game plan before you tried! Trading Crude Oil Futures can give you freedom unlike any other opportunity I have ever seen. Work 2-3 hours tops and
your returns can be anywhere from 5% daily on up to 50% in
rare cases. My theory is you take what the market gives you.
Do not create soemthing that is not there. I have one word
if you want to trade oil,patience. As long as you have this
and have a clear game plan like my group, the odds arealways
in your favor. As I write this article oil is at $91.61 a
barrel and it’s January. Not that I am wishing that prices
move up since we earn profits regardless of the price moving
up or down, but I can only fatham what prices will be in the
spring time.

About the Author

Damian Hileman is the creator and moderator of Black Gold MBA, an Oil Futures trading room operated via SKype under the name Easy Trade Signals. If you would like to learn more about trading Crude Oil Futures, go to http://easytradesignals.webs.com/apps/testimonials/. He can also be contacted at easytradesignals@gmail.com

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