Trading in Oil - Pennies to Pounds

foxwales

Hi all, so I started trading in Oil last night (I feel a bit dirty saying that), but it's extremely exciting!

I have never done anything like this before but I thought I would give it a go to see how I got on.

I've started with a small outlay of just £20.00, enough to cover the deposit and give me enough margin for maneuver.

I love the volatility of this market and it's extremely fast paced with points coming off and going on as quickly as you can blink. I do feel it's a little immoral for me to be making money, albeit small amounts from civil unrest

My Investment Journey so far:
Trading in: Crude Oil, FTSE 100, Germany 30, SPX500, Wall Street, Silver
Trade Start Date: 28/02/2011
Initial investment: £20.00
Cost per point invested: £0.10p / £1.00
Current Profit as of 10/03/2011: £2773.66
Account Balance: £2793.66
Losses to date: £226.15

shaun_from_Africa

I do feel it's a little immoral for me to be making money

If it will make you feel better about yourself, feel free to send me your profits seeing as I can't go back to work due to the trouble!

Masomnia

foxwales wrote: »

I do feel it's a little immoral for me to be making money, albeit small amounts from civil unrest

If you have a pension then it will be doing that bit better because BP and Shell will be rising on the higher oil price, so whatever way you look at it you'll benefit!

You'll spend enough on fuel one way or another, so you may as well make a bit back

foxwales

I am sitting here now watching the stock climb, i'm sitting on £8.15 now on my trades, so I have now bust the 50% profit margin! :beer:

George_Michael

How do you go about trading in oil on a small scale?
I always assumed that this sort of thing was only for the "big boys"

foxwales

shaun_from_Africa wrote: »

If it will make you feel better about yourself, feel free to send me your profits seeing as I can't go back to work due to the trouble!

I'm sorry to hear that you got caught up in it, let me know when your going back to work and i'll put my money on prices falling as production increase :T

foxwales

George_Michael wrote: »

How do you go about trading in oil on a small scale?
I always assumed that this sort of thing was only for the "big boys"

I'm spread betting, it's not actually purchasing shares, I am betting on whether the share price will increase or decrease.

I'm using a well known share dealing platform with a starting bet of 0.10p per point and so far I am making a decent profit!

shaun_from_Africa

I didn't really get caught up as such, as I was already out of the country before any trouble kicked off.

The problem is now that I will have to spend the next few months working in Malta, which although it's a nice place, is very expensive to live compared to Libya

foxwales

shaun_from_Africa wrote: »

I didn't really get caught up as such, as I was already out of the country before any trouble kicked off.

The problem is now that I will have to spend the next few months working in Malta, which although it's a nice place, is very expensive to live compared to Libya

It's good to hear that you got out before it kicked off, fancy swapping places? I'll work in sunny Malta and you can come work in rainy Wales

IronWolf

Smeagold's 20% a month aint lookin so hot now

if you can maintain 20% profit a day ull be a millionaire in 2 months

foxwales

I'm up to £52.80 now, so I have made £32.80 today so far!

Market dipped by 100 points earlier and I had a buy order so I gulped hard, but with some patience it recovered and I was in profit again :j

No losses yet :T