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EP: 82 Proven Energy Trader Explains the Latest Move in Oil

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EP: 82 Proven Energy Trader Explains the Latest Move in Oil
#FuturesRadio

 
 
00:00 / 19:41
 
1X
 

 

Guest:

Tracy @chigrl – Professional Oil Futures Trader

Tracy Shuchart

Dear Traders,

Today we had a very knowledgeable guest when it comes to day-trading oil. She is a professional futures trader who’s built a career around the oil markets.

We discuss the many reasons why oil has moved back to $40 and what would indicate the next moves.

Tracy explains the benefits of using Market Profile and how it identifies tops and bottoms. She also tells us why $40 oil is not having a major impact on the equities markets.

Finally, she reveals a “break-even” graph helps her gauge the fundamentals in the oil industry.

Tracy and I had a great technical trading discussion today. I hope you enjoy it as much as we did. Take care and thank you for listening to the show.

Biggest Takeaways:

  1. Biggest reasons Oil has moved back to $40. Where it goes from here.
  2. Using Market Profile to identify weak tops and bottoms.
  3. Explains why $40 oil isn’t having a major impact on equities.
  4. How the “break-even” graph helps Tracy gauge fundamentals in oil.

Answers to the 4 rapid fire questions at the end of the show:

  1. Favorite Book About Trading:
    • James Dalton. Mind Over Markets. 
  2. Favorite Movie About Trading:
    • The Big Short
  3. Best Advice Ever Received About Trading:
    • Trade what you see, not what you think.
  4. Advice to Give to Others About Trading:
    • Trade level to level. Don’t try and hit home runs all the time. Go for base hits.

Resources:

Twitter:  https://twitter.com/chigrl

Website:  http://chigrl.com/

Link to James Dalton:  http://www.jdaltontrading.com/james-daltons-books/

Quotes:

The market profile likes to be a nice bell curve.

Usually higher volatility = More positive correlations to oil stocks.

Relevant charts pertaining to guest’s comments:

Below: Red arrows indicate areas where above there will be stops.

tracy

 

Below: blue arrow shows weak top/bottom…red arrows show week areas in profile where next day market revisited and filled.

Tracy 2

 

Below: break even prices.

Tracy 3

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