Trading in Oil - Pennies to Pounds

foxwales

So i'm standing at 900% profit at the moment.

The oil market shot up 200-250 points since yesterday with the cost of a barrel exceeding $100, seems to have settled at around $99 a barrel for the moment.

When the FTSE dropped yesterday by 50-60 points I bought into the market and also bought into the German indices.

So far this has proved very lucrative as the FTSE 100 and German 30 appear to be recovering slowly today.

Started off with a meager £20.00 and I am now sitting at £182.40 :T

sabretoothtigger

So i'm standing at 900% profit at the moment.

Dont let it go to your head.

Started off with a meager £20.00 and I am now sitting at £182.40

Go back to 20 again and repeat. When the 10p offer ends, see how much you've saved up / learnt

foxwales

Trust me, I haven't let it go to my head.

I broke the £200 mark yesterday so am quite pleased with the profit's I have made.

It's showed me how volatile the oil market is and even though I have made a decent profit out of it I won't be investing in it in the future when my stake per point rises as it's just too volatile and the potential to lose huge sums is high.

I've started buying into Indices now as the volatility is less which returns a lower risk. I bought in yesterday when indices were rock bottom and they are climbing today, so I am seeing good profits being generated at the moment.

I'm going to leave the indices to see if they get back to earlier levels and then cash in my profits and will start again with £20 with the profits I make from this going into savings.

Oil is just short of $102 a barrel currently and predictions are that it will increase further if the middle east and Libya don't settle down any time soon, but maybe an opportunity to sell when the market looks like it's going to turn and production returns to some form of normality.

Niksan

Thanks for this thread, I've been wanting to dabble in the markets for a while, mainly to get some practical experience on how they work rather than just theoretical (easy to stand at the side of a roulette table and say what number its defo going to land on when you've nothing to lose) and can determine how much to lose with the stops.

Bearing in mind I go to casinos on a night out and play the roulette table with a £20 loss limit (my initial outlay) if that goes I walk, and avoid the "just one more bet" to see if I can recoup some losses. So with that in mind, would this be a good platform for starting out into getting my feet wet or are there better alternatives for understanding how things work, obviously I'd want to use real money to know I could lose something (albeit small while I get to grips with things) as that is an influence on what you'd bet on in the first place (see roulette anecdote above).

foxwales

Niksan wrote: »

Thanks for this thread, I've been wanting to dabble in the markets for a while, mainly to get some practical experience on how they work rather than just theoretical (easy to stand at the side of a roulette table and say what number its defo going to land on when you've nothing to lose) and can determine how much to lose with the stops.

Bearing in mind I go to casinos on a night out and play the roulette table with a £20 loss limit (my initial outlay) if that goes I walk, and avoid the "just one more bet" to see if I can recoup some losses. So with that in mind, would this be a good platform for starting out into getting my feet wet or are there better alternatives for understanding how things work, obviously I'd want to use real money to know I could lose something (albeit small while I get to grips with things) as that is an influence on what you'd bet on in the first place (see roulette anecdote above).

Even though you want to start with real money which I can understand (because the psychology of dealing with real money rather than a demo is definitely different), I would urge you to start with one of the spread betting demo's and do some reading of how it works, not so that you can learn the markets, but learn how these trading platforms work.

IG Index gives you two weeks of initial trading at 10p per point which has been a great learning tool for me.

Depending on how much risk you like to play with, either invest in markets you know where share movement is slower, or look at the popular markets section where share movement is very quick but generates higher risk.

Best of luck

Niksan

Yeha thanks for that, I looked at all the documentation and videos on the IG site, is there a free demo platform that lets you trade with a virtual portfolio? I know the training package for IG starts at 10p then increments up which seems fine as it's small loss and small gains, provided the stops are in the correct place, wasn't sure by demo you mean there's something like you can trade with zero investment to avoid clicking on the wrong things, do IG do this or some other? or am I readin that wrong.

foxwales

IG Index don't do a demo, but there are quite a few spread betting demo's out there which are similar that you can learn with.

And nope IG Index doesn't let you trade with 0 investment, starting is minimum of 10p so there is no demo period in that respect.

mr_fishbulb

Wohooo! Oil is the new silver!!!

(I'm actually jealous - can't do any spread betting because of my contract at my work ).

foxwales

mr_fishbulb wrote: »

Wohooo! Oil is the new silver!!!

(I'm actually jealous - can't do any spread betting because of my contract at my work ).

Heh I wish! Silver is much less volatile than Oil, i'm watching the price of oil drop by 70 points at the moment, got my sell orders in place and am sitting on £70 profit so far to add to my existing profit. :T

foxwales

HAHA Oil has just dropped 100 points! :T:rotfl::rotfl::T

Pushing £100.00 Profit for today so far I am so happy :j :beer:

Oil is still falling down 150+ points, sorry if I am gloating at my success but bloody hell!