Since about one year oil is on the run. It ran down! Now it is oscillating. And that is exactly the market needed for swing trading. To make money we need smooth swings.
A market suitable for swing traders produces smooth swings. It is swingy. What most see just as a useless tautology is universal wisdom for others. Guess whom these others are, see the weekly chart of oil above, and spot how easy swing trading could be:
- Use the weekly or daily chart
- Have a tight stop and honor it
- Wait for a reversal bigger than earlier ones that failed
- Switch your existing or open a new position
- Relax and ride the next wave
Simple, and it works.
How to trade oil conveniently?
With CFDs! They offer leveraged trading and with the right broker (ETX) you can trade thousands of markets worldwide from one single account.
Stocks, indices, metals, currencies, commodities, energy… They have it all, even the sea of oil for the swing surfer!