Any one afraid like me trading oil for now due to the Saudi and Russia price war?
I'm staying clear for oil for now, because I don't want yo be in the middle of trading it and one side just woke up from the wrong side of the bed and decide to make a catastrophic announcements on oil outputs and I'm caught in between.
When I asked my friend, he advised me to abstain from trading oil for now. At the moment it is a rather unstable market from which you don't know what to expect next. Oil prices are jumping and it is impossible to make any predictions about what will happen next. Only the brave ones are getting there now.
Oil is unstable, but it still follows technical's. I would not look to swing oil any time soon but spot trading for 30-75 pips is very possible daily if not at least 3x a week. It would depend on your training how comfortable you are with trading oil.
Retail traders pay retail prices... Trade in line with the institutions
Yes, there are assets in the market that can be a little risky to trade with. But if you make a detailed fundamental analysis, these risks can be slightly minimized. So, with the right approach - trading stops being so dangerous and risky. Evaluate your strengths and capabilities objectively, and you will succeed.
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