Ever wondered who trades Oil Futures? The term Black Gold
and Texas Tea is commonly used to describe this hot
commodity. The worldwide demand for oil is rising for
several reasons, including the adaptation of cars in China,
which shows no signs of slowing down over the next several
decades.
In the world of trading Crude Oil Futures 100′s of
thousand’s of contract’s exchange hands every day. I
personally know individuals earning very, very nice returns
on a daily, weekly & monthly basis. Trading the right amount
of contracts, a savvy oil trader can see returns of $1,000,
$5,000, even $20,000 in just one days worth of work. Not bad
for sitting on your butt for a few hours.
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.
Trading oil is not that hard. To start out you need a
broker account. The typical broker will run a credit check
to make sure you have good credit. I do not want to get into
why you need good credit but 95% or more do this. However,
since I have had several members in my group that were
credit challanged I wa able to find a handful of brokers
that do not check credit. Let me know if you need help in
this department.
Most brokers require a minimum deposit of $2,500,000, just
kidding, $2,500 to open an account. This will give you the
ability to trade 2 contracts. Each contract requires $1,000
worth of margin. Ready, set, dont trade yet. Next you will
need a system or technique that tells you when to trade and
when to stay out. There are many techniques you could use.
My group has a very firm set of rules we go by. If the
charts are not giving us the signals we want, we dont trade.
It’s just that simple.
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.
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