Anyone else riding the oil wave tonight?

[cashmax]

It's spread betting heaven right now!

[dingg]

Only if you're on the right side of the trade though. 🙄

[cashmax]

There was 30 mins or so when you would struggle to be on the wrong side such was the volatility.

[dingg]

But that's just pure gambling.
You obviously weren't short on close of play friday.
Some will have a real sore arse today from the reaming they've had.

[Helicopter123]

Looks like the pop up in price was much more limited that anticipated.

Some who jumped in too soon may also be nursing losses.

Not my specialist area, but the jump does look quite limited in the context of 5m bopd coming out of supply. Market thinking this is very temporary and no retaliation to come against Iran?

[cashmax]

For clarity, I was talking about the volatility between 0130 - 0200 last night, where a pattern emerged for about half an hour. It was possible to buy/sell and make 50 points a time, multiple times.

[anonymous-user]

Oil after that news on a one minute chart!

What could go wrong?

It's not so easy when it looks like this at the time you need to make the actual trading decisions:



I'd politely suggest anyone who knows what they're doing wouldn't go anywhere near that.

[NRS]

It's like drilling an oil well! We use real time data to help make decisions on what to do. Sometimes afterwards people are like "why didn't you do that, it's really obvious looking at the data....". Yes - if you had access to the data from the entire well. Not quite the same when it's happening real time, and often there is a lot more noise at the time too!

[Condi]

cashmax said:

For clarity, I was talking about the volatility between 0130 - 0200 last night, where a pattern emerged for about half an hour. It was possible to buy/sell and make 50 points a time, multiple times.

It was possible, in hindsight, but did you at the time? There are a few points on that chart you would have potentially bought/sold looking at previous candles and patterns and yet probably hit your stop loss when the market carried on going in the same direction.

Trading with a full chart to look back at is easy, certainly not so easy when only the first 1 or 2 candles have been finished.

[cashmax]

Condi said:

cashmax said:

For clarity, I was talking about the volatility between 0130 - 0200 last night, where a pattern emerged for about half an hour. It was possible to buy/sell and make 50 points a time, multiple times.

It was possible, in hindsight, but did you at the time? There are a few points on that chart you would have potentially bought/sold looking at previous candles and patterns and yet probably hit your stop loss when the market carried on going in the same direction.

Trading with a full chart to look back at is easy, certainly not so easy when only the first 1 or 2 candles have been finished.

Not claiming to have any idea what I'm doing, but after the first one, I bought everytime it hit 6050 and sold everytime it hit 6100, each time it limited out before I'd even closed the screen. Managed about have a dozen transactions at £10PP which is the best and quickest result I've had spread betting. Happy to admit I got lucky with timing, my watch had a trigger to alert me each time oil moved by 0.5% and it woke me up going berserk, so jumped in and spent half an hour feeling like a hero. Started at the right time and stopped at the perfect time, all fluke.

[dingg]

Come back in a years time and tell us how you've done.

Good luck btw