My first crude post…
Looks easy, doesn’t it? I have a mixed track record trading WTI. Lost half and then doubled what was left to rise back up to zero where I started from. If I can do it, anyone can…
Buying here and selling at the top of the channel, or close to it, would yield a 40% profit! Problem is though, commodities trade for 23 and half hours while the ETFs only trade for 6 and half on the stock markets. CFDs look interesting as a way to trade commodities without having to deal with the reduced trading hours of the stock exchanges or the complexities of actual commodity trading. Does anyone have any advice on CFDs (I’m in Canada) like Freidberg and Avatrade? Looks to me like the best of both worlds.
Welcome TimH
Good points regarding the danger in trading commodities via ETFs
good to see you
Fully
Hi TimH. I’m from Canada also. I usd Oanda to trader CFD’s. Just make sure you use their interest calculator to estimate financing fees for holding the CFD’s (or any other instrument you can trade). https://www1.oanda.com/forex-trading/analysis/currency-units-calculator
Thanks for the tip, Patrick. It looked to me like there was some extra fees to the CFDs compared to ETFs but I couldn’t find them really explained anywhere except for some “reference” to financing stuff. I’ll look into Oanda since you’ve used them. I don’t really trust anyone in this business except for the folks on this site. All the brokerages and agents are out to get something out of traders like us and the first thing they seem to do is hide the fees or, something I found out the hard way, neglect to mention how 3x leveraged ETFs “decay”. The WTI 3x ETF, UWTI decayed 1.5% a week when I was using it. I thought I could hold on to it for 6 months! This site is the best thing out there I’ve found in my 5 years or so of trading.
Welcome TimH!