Before I get into the details about how even a dummy can make money trading oil futures, let me just share with you some facts about this little know but highly profitable activity that is being done by people all over the world 24 hours a day.
Trading oil futures involves buying or selling one or more oil contracts.
An oil contract represents 1000 barrels of oil.
When the price of oil goes up and down throughout the day, every penny that the price fluctuates in either direction represents $10.
00 to the person controlling that contract.
That's 1 penny per barrel or $10.
00 per 1000 barrels, or in this case 1 contract.
So if you are trading one contract of oil and you buy it when the price of a barrel of oil is at 88.
00 and you are betting that it will increase in price over the next few minutes or hours then you would buy a "long" position with that single contract.
Now, if the price went up 10 cents, you will have made $100.
00 and if the price wend down you will have lost $100.
00.
Now there are ways of predicting when and if the price is going to go up or down and those ways are closely guarded secrets known only to a select few.
But more and more oil trading clubs or oil trading rooms are popping up all around the country run by individuals who understand how this all works and they are helping others learn how to do it or simply by calling the trades out to them on a daily conference call.
Now think about this.
If you can make $100.
00 on a single contract, what if you had 10 or more contracts, well that would allow you to earn $1,000.
00 a day.
How much do you need? The thing I like the most about trading with a club or community is that I can leave most of the technical stuff up to the group leader and just follow him in and out of trades.
That's why I called this article Oil Trading for Knuckleheads because any dummy can do this and make money.
As of this writing, as far as I can tell there are about 5 trading clubs around and you should check them all out and find one that works best for you.
Joining one of these clubs runs between $500 and $4,000 and they all do pretty much the same thing, so don't be a dummy and join the one for $4,000.
Trading oil futures involves buying or selling one or more oil contracts.
An oil contract represents 1000 barrels of oil.
When the price of oil goes up and down throughout the day, every penny that the price fluctuates in either direction represents $10.
00 to the person controlling that contract.
That's 1 penny per barrel or $10.
00 per 1000 barrels, or in this case 1 contract.
So if you are trading one contract of oil and you buy it when the price of a barrel of oil is at 88.
00 and you are betting that it will increase in price over the next few minutes or hours then you would buy a "long" position with that single contract.
Now, if the price went up 10 cents, you will have made $100.
00 and if the price wend down you will have lost $100.
00.
Now there are ways of predicting when and if the price is going to go up or down and those ways are closely guarded secrets known only to a select few.
But more and more oil trading clubs or oil trading rooms are popping up all around the country run by individuals who understand how this all works and they are helping others learn how to do it or simply by calling the trades out to them on a daily conference call.
Now think about this.
If you can make $100.
00 on a single contract, what if you had 10 or more contracts, well that would allow you to earn $1,000.
00 a day.
How much do you need? The thing I like the most about trading with a club or community is that I can leave most of the technical stuff up to the group leader and just follow him in and out of trades.
That's why I called this article Oil Trading for Knuckleheads because any dummy can do this and make money.
As of this writing, as far as I can tell there are about 5 trading clubs around and you should check them all out and find one that works best for you.
Joining one of these clubs runs between $500 and $4,000 and they all do pretty much the same thing, so don't be a dummy and join the one for $4,000.
SHARE
