4 Steps to really improve mcx crudeoil trading

 4.The Guide to crudeoil trading profitablity 

Crudeoil is one of the most liquid commoditis in the market according to cme group more than 80 doller worth of oil traded as a daily basis this crudeoil is uses for vehicles and machionarys around the world

This liquidity has to led increased volatility in the oil future market as a invedtirs use it as  hedging tool today crudeoil is one of the main causes in market movements 

1. Understand the main movers of oil prises

    To be successful in the trading of mcx crudeoil [ day trading] first you need to understand 

     what moves it of course being a cammodity oil prise is moved by demand and supply an

     incresed in supply leads to reduction in prise while an incressed  demand leads to                 increas in prize

  - Oil inventory data this realesed every wednesday by EIA an increased in inventory leads      to low prise 

 - comments by key polytical figure in oil such as minister of saudi arebia

 - A strengthening doller will lead to reduse prise

 - economic data  for instant the strengthining the chines economy will lead to increase in

    demand  this will push prize up 

 - Geopolitical issues conflicts lead to increased in prise 

2. Understand the market sentiment 

 The factors described above are fundamental in nature the oil market just like other market does not work based on the fundamentals technical factors play an important role in determing how the oil prize move

Traders use the technical indicators to determine the market sentiment for instance 0

  the relative strength index  (RSI) is one the most commanly used  tool to determine to 

  overbought or oversold position

3.Develop a strategy

  This step assume that you have some background in charting and trading you should now create our own strategy for intraday or day trading that you can trade in crudeoil and make 

daily profits

Todays trading on intraday crudeoil view

 todays crudeoil market open -1650

                                       high-1788

                                       low-1614

                                       close-1698

Todays crudeoil trades

1)- trade mcx crude buy 1640 stoploss 1630 tgt 1764 almost 124 points gain 1*100 = 124*100=12400rs profit in intraday 

2)- trade sell at 1755 sl 1764 tgt 1656 =99 points gain 

3)- trade buy 1634 stoploss 1630 tgt 1716=82 points  

Intrady chart crudeiol