Saturday, June 6, 2009

Oilitradinginsider.blogspot.com you have come to the right place for oil futures trading.

the chart to the left shows the trading ranges where we were buying and selling during the trading session we identified it early and told members that asked by email to sell into strength above 69 and buy 68
there were several "round-trips" that could have been done I completed 7 and was stopped out 2 times


At Oilitradinginsider.blogspot.com you get more than witty banter and timely pricing.
You get an analyst and a professional in your corner that any trader at almost any level would enjoy. I bring twenty plus years experience to the table and held a seat on two major exchanges as a specialist and floor trader. I am a workaholic if  can call it that as I enjoy the work.  I keep an eye on the oil markets that trade 23.15 hours a day as many hours as I am awake.
I have already navigated both bull and bear markets with aplomb. I also have a background in options and equities and feel like I have brought a unique fluid and successful style to oil futures trading.
This is not some computer program that mindlessly points buy or sell as technical indicators that everyone else in the world already is aware of or some used-car salesman selling you over-priced penny stocks that you neither profit from nor want. 
Oil futures move quickly very quickly and you need to be organic and ever changing to survive this market with more cash than you came here with. 
  Now for your forty dollars(charter members pay slightly less and locked in their price as long as they hold the subscription) I have promised at least one morning price entry buy and Sell point and my trading bias.  At the risk of sounding immodest I am usually correct on my
call in the morning on whether oil is going up or down and after successfully doing it for days on end you will realize that it more than just a coin flip determining this bias.
As helpful as that alone can be there is more much more to this. Depending on the type of trader you are will determine what you need from me- I am very passionate about this service I am offering and there is a mission here I want everybody who joined this site to make money. I will do anything in my power to make this so. I lead by example. I am trading as well -I keep 
you guys in the loop and tell you anything about my position or where I plan to buy or sell next all you need do is ask if you want that extra info. I also am trading a secondary account an once in a while I will give you a nice tip on a decent stock like a couple weeks ago I suggested X at 30.91 and Ford below 6 last week.  Go and check the back dates these posts are time stamped.
X is over 36 and traded even higher and you could have picked up nearly .50 on F . You can make some sweet sweet money on trades  like these but our focus is Oil.

  Email me and let me know how I can best serve you are a minute trader or do you hold longer term you will most likely have specialized needs. I don't always day trade( sometimes If I  get on the right side when oil moves in one direction for points  I simply stop adjust and let oil tell me when it is over)but on days that I do I give out intra-day ranges as I am trading them to anyone in the group that is interested as well. I trade the overnight most nights taking advantage of the psychology of the moment or getting the position on that has to be done the night before to benefit. There are numerous days you will get to your trading station at 7:30 EST and see you have already missed the train. Not everyone stays up until the wee hours of the morning but If you do you will find that I will be there.  We can discuss how to tailor futures trading to fit your style as I am an amalgamation of styles wrapped into one. 
I keep up with all the latest economic data and use technical analysis as well to form well constructed game plans to attack each new trading day.
For the newer traders I can point you in the direction of a low cost quality place to do your trading and if you are paying more than $3.75 a futures trade for instance and a $1 for a 100 lot equity trade than you probably should open a new account and would be glad to help. There will be a learning curve so we will get you on a simulator for a few weeks experiencing real time trading so you can perfect both your trading and your facility on the software.
I will answer any questions as fast as I receive them by email  for no charge. I offer some phone support for a small fee as the demand for that has literally gotten a little out of control.
I see some traders who claim to have experience are typically offering allegedly what I am for a $100 per hour.  
The eighties and nineties  when broker greed was rampant people tried in vain often  to find somebody they could trust with their money to make sure it was working as hard as they were.
There are still some vestiges of that around but very few solid talented and trustworthy people 
are available. Today you must take charge but you will need some assistance I am here To provide this. I am pleased that we are getting some comments. I ask for more of that from the membership raise question give opinions and share information on anything from a trade rumor to a great tool like software or hardware. We are stronger as a group. Look to Sunday Night we will as always have some play for the Globex opening.










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Friday, June 5, 2009

The Pre-Cap Friday 4:12PM


Lets walk through the day we told members to buy using a Mkt order if the Jobs came bullish
The morning Oil blew through $70 and took my $70.25 offer before I could get another order
ready. That was nearly a thousand for me and I heard from two other members one pulled $550
another $750 -Both traders were heady and took advantage of an obvious situation that  we 
sometimes get "The free money trade" which is of course hardly free thinking of everything you have to do just to be in position to take an easy trade. 
  After that we redrew the chart Oil ranged between 67.xx-69.42 the rest of the day. I told members who asked to sell in the 69 and buy in the 68 and for a while we made a small fortune
buying at 68.4x and Selling at 69.1x  Seven round trips for a quarter sometimes a half
there were two stop out for a loss of $$500 and one typo error that must be contagious as a member was complaining about these woes and I might my first typing error in 9 months 
That had me Sell at 67.9x area instead of buy I scrambled and covered for $200+ loss
but also missed the buy entry which to me was the third homerun opportunity of the day.

I gave the membership a bearish bias several trading ranges which could be counted on for multiple turns and the gimme NFP trade from the AM. Overall I would say that is $30 dollars
well spent my totals with the miss not counting my secondary account were in excess of $1800
That is a good day. I make steady money If  have a gigantic account and stayed on my points 
you could have made much more. One new member has his account open but is paper trading exclusively until he grasps the TWS system and learns to take my cues to his advantage.
I say bravo to this and believe he will be successful when we finally take the shackles off.

Another unnamed but promising trader is going off the reservation a bit both trading more taking more risk and  suffering from the jitters stopping out of trades too early which is a recipe for disaster. 

To this trader  for scalping you either stay with me exclusively- If you come in and do not catch the first two or three roundtrips you may finally get on board for the stop out.
We have another new member today and would like to welcome Max to the group. Please let us start to comment more so everyone in the group can start to get feedback. The group is stronger together and I value every opinion.  And I would not  mind an endorsement or two if I am able to help you make money.  
I have been giving one on one over the phone help to several traders now and it is getting a little hectic we may have to charge a small fee if you need my services. There will be a priority to anyone who wishes to book my time. I can take your from setting up a discount trading account to trading philosophies to tailoring exactly how you would like me to help you.
Everyone who joins will find that my bias is nearly always correct that  is whether I am bearish or bullish. Also as promised I will give every member direct email pricing at least once daily.
Usually I will post twice a day. If you want further pricing you can always ask by email.
 I will answer emails chrgr06@yahoo.com as soon as I read them and I spend most of my time in the"war room" with my two soon to be three monitors with Bloomberg and CNBC constantly on.
 We have included the chart we find it interesting that it bounced almost directly off the pivot point I had set. This was an eventful day filled with opportunities and 
Have a great weekend




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after the fact the NFP looked good but...

Okay I gave some pretty clear advice and quick review of what happened.
The NFP came out first number was bullish so A buy position and a sell market order after
the jump  have netted every member between $500-$1000 depending on your agility and deftness with TWS. Not bad are all my 40 charter members thinking what a bargain $30 a month is right now?
Back to business the and number was bad and  now that the free money has been neatly tucked away we must look analytically at both the chart and the Data-Oil is extended and overbought at this juncture Bear costume gets re-adorned
Sell  at 69.75

buy 68.15  For now I expect it lower by day's end  good for 1  hour max



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What can it be?It is Friday SO check the NFP!

The chart to the left shows the tops and bottoms that lined up. 
Last night I was talking to one of the members via email (apparently I am not alone in the desire to work 24 hours a day)we were discussing overnight trading and if members listened to me a small fortune under very low stress conditions was  made. I gave you the lows and the high and the times where the range would be valid. This was truly a no-brainer although that expression is often misused I really took care of the hard part for you.
When it was all said and done I sold at 69.49 still short with a stop in place and went to bed.

The NFP is up- the way 69.52 was defended leads me to believe that point that  I drew in as resistance has more evidence that it is. If the Jobs come good we will low through 
BAD and the floor should drop out and if unchanged we should drift lower.

So I take out my Bear Costume  and we are expecting 9.2% jump so lets look alive and 
adjust when the NFP numbers come out accordingly.




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Thursday, June 4, 2009

To the guy in glendale heights Illinois chicago area why don't you just join already

See the two horizontal lines until 10;30 buy at the botto sell at the top


Account was 
 dragged down -$289 on a Natural Gas stop
Only to be rescued by a the financial sector long in the equity account-It is only fair that the equity account pitch in once in awhile as Oil carries the weight normally.

Now I made money I bought in the low 66.05 area and sold in the Low 67.34 area but I have gotten away from my game plan I see that it has cost me in terms of bottom line. Maybe I was preoccupied with personal tasks that are  in the works that we will soon share with you
as it may just be the offer of your lives(later on that) or perhaps just doing a bit too much. 
I, as my readers know, usually do not cover -I do not pick tops I do not take a trade off just because it is up a point I stop adjust  typically .35 cents away and take the shot. I sold and flattened my long at a ridiculously low price-I tried to get back in but I only traded the morning and barely missed buying in again on two entry attempts. 

My advice was solid today and heady members should have made a fortune. Did you read the title of today's post "buy the dips" not sell the pops I told everyone we were bullish and also 
told everyone that the right move was to buy and the only question left was where.
That is a lot of help members- I would love some comments from members on the site
when they benefit perhaps an endorsement for the man who has helped so much.

Sadly I have to prove myself every day and no matter how many days I call correctly I am only as good as my last call.

I am bullish on Oil long term but as Far as Goldman's call -they cited inventories shrinking-I suppose they will soon enough Is the EIA out of their minds then? Did we not just get the inventory report and was it not bearish with a glut and with a glut in imports? Man, Sentiment
is by far the most powerful indicator forget the EIaOpec and the dollar.  
That being said tread carefully as that can change like the wind.  Goldman Says $85
other talking heads say $40 -Like with most exaggerations the truth and in this case the true price lies somewhere in between like  68.80 On Thursday night at 8:19.
What to do here? The NFP will have a big effect on where oil goes tomorrow we stay light on our feet and go with the flow  I am a seller above 69.5 on the overnight 
 




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Buy the DIPs


There are two ways to use this blog to your advantage and it is a personal choice  that you must make. A) Stay on exactly what I advise only buying and selling explicitly on entry points and moving stops as suggested B) Using me as a guideline and buying or selling at your discretion simply keeping it as a reference point knowing that despite the short history this publication has been exceedingly reliable in terms of proximity and price accuracy.


I have been helping newer traders set up accounts and get acclimated to trading if you are having trouble and need some one on one drop me an email and we can schedule a time chrgr06@yahoo.com

Futures are up to flat there is no real feel to the S+P we keep an eye for the jobs forecast and wait for the NFP friday. Today rates are coming out but it appears thus far to be a non-event
So no news is good news from the Bank of England which affects the GBP which affects oil
expect the same from the ECB. 


I bought on the overnight and just sold for a thousand  and made my quota so I am going to lay out .
Yesterday's correction was over due and needed we go back to our bullish stance
And believe dips should be bought.   

I also remain long In Natural gas.








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Wednesday, June 3, 2009

After the Apocalypse-Recap


This was a tough one to swallow- We finally turned bearish yesterday  and drew up an amazing game plan last night and here is where we went wrong at Midnight or so We see the currencies and got head faked never mind that was 8 straight days or so without respite we were even tempted to buy thinking the late rally might be a pre-cursor to a bullish EIA 
which occured two weeks running.  We left out Offer at 69.05 and it traded as high as 68.95
10 lousy cents away and it all would have gone differently.
Back to the tape-Oil was trading around 67.75 and 68.25 and we grabbed an early $200
from the buy side and another $300 buying at 67.5 and selling at 67.8 this was probably a bad thing as somehow we started legging in exclusively from the buy side. We  warned the membership  we may have implications from  The EIA and the ADP numbers the former were just 
horrific with imports climbing which promised to add to the build which was already
in place.

  We traded remotely on a EIA day thinking somebody would have asked us if the numbers were that bad but strangely no emails to that end and we proceeded with our pre-determined entries at 67.25 and 66.80 both of which got stopped out dragging us down to even so fast it would make your head spin.
Here is where the action went frenetic we got back to the war room and re-drew the chart
and it looked to us like we would get one more push down as we missed the short term 65.5bid   bottom. Certain that we were at the end of this scene from Revelations we had at 65.25 stopped out we double down buying with a market order finally nailing the bottom.
Here is where fate intervened it dangled between 65.10- and 65.35 but rather than take the 
$300 or so and get back to even we stop adjusted to break even and went to a late lunch with our better half -We probably would have taken profits sooner but it was all the way back to $66.20 when we got back to the War room. We make a cool thousand reversing loss and bringing us over $700 for the day. Never trade remotely on an EIA day is the moral of the story.
Today could have been so much more as If we present for the numbers I am certain we would have sold seeing the unabashed bearishness implied added to a suspect ADP.
Bottom fishing has never been my favorite past-time we were lucky to survive this one.





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Wednesday EIA


Did you read last night I wish I followed my own advice as oil finally top out at 68.95 just 
shy of my offer at 69.05 . I planned to sell somewhere but the dollar was actually rallying for 
I retired flat with my offer and stop in place and untouched.  we are trading near the globex low and the short term buy trend line was violated and the dollar is up so a slight bearish stance in effect for the moment. Inventories should be back out on the normal schedule but Bernanke is due to speak and he will likely try to put a positive spin and the manufacturing numbers were 
strong as well.  Pricing is going out to members shortly.




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Tuesday, June 2, 2009

Overnight action Tuesday

If you look closely I have the r2 at 69.18 a good spot to sell approx
This morning I gave out some bold pricing 67.75 buy side I only took one spin but you could have made three round trips between 67.75 and 68.25 during the trading day I also said that 
it would only be valid for a couple hours  and it traded down to 67.5 right after which is just barely a stop out but I pulled the bid and alerted all members it turns out that was a pretty decent entry from the buy side. I also posted and pulled a small sell rec at 68.5 same thing one round trip and I backed off again. Yesterday My sell entry was 69.05 and today I bumped it to 
69.18 which is 13 cents away again I tell experienced traders to shade and  trade depending on my bias And phrases like"this rally has arthritis" or"needs a cane" or "should use a walker"
was an attempt at humor but clearly bearish.Well I sold at 69.03 and everyone in the group
should have sold I put several posted entries that I was looking to enter and then I would shift from scalping to stop adjustment. I stayed with you guys guided you to some decent back and forth trading and position trading all in the same day-It was a good day for me and should have been for every member that traded today. 


Overnight sell point 69.05 area  I am likely to sell somewhere tonight if it does not reach


buy 67.05




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Weak dollar may abate later this week


Pardon the alliteration 
As you see here we sold at 68.57
and bought back for another $300
This is a slow day so far we will keep churning before we take a real position.




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11:00 update closing in on the sell entry

The was some bearish data on quotas and housing surprised to the upside which is bullish to the S+P for the most part but there has ben some debate on how this will effect  rates.
We saw 67.60 on the second pullback and now we are revisiting the tops from the last two days.
I am looking for the sell entry and I am trading back and forth all the while once sell entry is ignited I will change gears back to stop adjustment limiting risk but allowing for the point to point and a half move that has been expected today.





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Conflict mixed signals-Oil needs a walker-buy side dropped by a point


With this rally developing Arthritis  Any one who bought should be prepared to flip for a quarter or adjust stops vigorously. The market is under pressure by the financials.
There is also some N. Korean military activity kicking up. The currencies are not helping us out here as they are pretty much a mixed bag. The  next buy side entry is 67.05
You should be able to protect or make a small profit on the first one.

As you can see from my chart I was able to turn over .20 trading here 
$200 is $200


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Tuesday 6-02/Rally starting to show some gray


This rally is gonna need a cane but a simple pullback would like the Phoenix allow it to be reborn with renewed life. I have sent out morning prices to the membership
But I think we might get one last little push before cracking a bit my buy side entries 
are on a timer you could have bought now it just dropped below 68 but I wouldn't in a couple hours So keep an eye for the Secondary Ranges. As far as the Sell side goes Oil hit 68.68
and 68.58 our charting target is higher  for the top but I might be inclined to sell once in the 68.50 zone as we are getting a little overdue now.



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Monday, June 1, 2009

Sale at 68 ovenight play will watch closely


There is reason to believe we might at least take a quick breath on this latest run-up in oil-As my loyal readers know I am not  a subscriber to the  top picking mentality but contrary to the short tradethat we actually made a profit on last week before turning bullish and buying and taking the ride from
62.95 up two points- Oil hung tough today but failed to reach my key 
chart point today which I had pegged at 69.08- roughly 35 cents short of the goal the rally shows the ear marks of running out almost ironically out of gas. We make the sale at 68 with the currencies fading If they are to turn again I will reverse this play and consider this yet another pullback
Either way Up  .15 cents keeping overnight stops tight at break-even




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Member Pricing to experienced members only

This morning I sent experienced members a buy rec at 67.12 this morning before 8
I then sent a short very easy to read posting saying to shade bullish on this entry
Oil traded within .20 cents of that entry and should have been bought. I will hit the target on the nose but I gave a bullish bias an entry within .20 cents of the day session bottom and 
told you to shade it right after I posted-I have explained that experienced traders can shade a quarter in either direction depending on sentiment. I want to help everyone I am hearing that
approx. half of the members understood what I said and got in on the buy side and made nice money
I hope this clears up this situation for the future.




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The Greater Idiot Theory-Just bought the mini-pullback at 67.65


I am advising the membership to stay on the entries as I am trading this very close and will get in and out for a quarter if I feel things shift.  I just went long one contract to satisfy the blood lust from missing last night's entry-Some might consider this chasing but In Oil's case 
as we have stated the pull backs are for buying and this past week they have been sparse as well
so you take what they give you sometimes. 
Now that oil has made such long strides to the north the Greater Idiot Theory comes into play 
as late comers will start to buy as now that it gone up the nature is for them to mimic. This can and should take Oil up one more leg but it is a very slippery slope now and a real pull back is eminent. Where I sent out the Member pricing is my target to reverse short term let it correct 
and buy again probably in the low 60's.



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Stop missing this



China is ravenous-China may lead the world out of recession first the Yuan may replace the dollar as the lead currency and China will use oil until there is very little of the precious 
commodity left. If you look to my chart you can see where I narrowly missed buying the bottom from last night's open .


I have sent out my morning pricing I am leaning to a bullish shade on those entries




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Oil hits 68 before 6 AM

This is exactly what I have been writing to you about endlessly-Last night oil opens up a quarter or so then head fakes down and than hangs back up a quarter for more than an hour
at 66.75 area. Now we are up close to 9 points in one week so I tried to be a little picky wth my buy entry any time I have tried that this week I have missed the entry and last night was no different though my buy was only .20 away at the time it still sits atop the book a lonely reminder of what might have been. 
I wrote this weekend that 70 was the next stop but in this game your entries need to be precise lest you get stopped out and watch it go up afterwords which is akin to the whipsaw 
or double whammy and nobody likes to be on the receiving end of one of those.
Last trade 68.18 email pricing going out to members shortly. The pricing wil be done straight fro the posts tomorrow but they will be published on a delay to non-members.




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