I only wish I had added to my oil trade… Vince had given the sell signal in his member’s area pre-crash, and what a crash… Oil losing half its price in a year; well nine months actually. But anyone’s bank is only so big so I’m happy to be able to of a least been in on it.
It did occur to me the other day though that I had not been following the story as well as I should have been or liked to have.
If you didn’t know why the oil price has fallen, you can get up to speed on it here. It’s funny though that when there was an oil high there was not enough to go round. Now there’s too much! You couldn’t really ever of imagined that there was ever going to be too much oil, but there it is… As I have said before though, as traders we are only interested in the price and making money from what we see.
Up, down, sideways, there will always be markets to trade and always stories that fuel those markets. You have to remember though that entry into the market is not all about the being the first in and making the most profits. Using our SMA we are not getting in to the trade slap bang at the beginning of the trend (although almost possible). The moving averages smooth out the price so we can get a clearer picture of where the price is going and gives us an entry signal just after the move has started.
It’s not 100% accurate of course, but it’s a really great way to trade and more or less idiot proof. Should any off you still be on the fence about where to start, I can seriously advise you to keep it simple using moving averages and look long term.
Have a look at Vince’s course, You’ll learn how to spot trades like this and many more. I really can’t recommend it highly enough. It really does work and will give you returns if you follow it to the letter.