Best Way to Trade Crude Oil? 🛢️

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The best way to trade crude oil. Which trading instrument? Which trading strategy? Should you use certain exchanges to save on spreads and commissions? How much is a fair spread in this market? Crude Oil - we have WTI (West Texas Intermediate) and then we have Brent Crude. One is traded on IMEX, one is trade on the ICE exchange. You can trade either of these. If you go directly to the exchange - say CRUDE OIL (NYMEX:CL) it is going to be a minimum of 1 contract and its $10 per cent move. Oil moves in cents so if its $50.82 - if that moves to $50.83. If it moves $1 you will make or lose $1000. This can be prohibitive for smaller traders. You can also trade it using a spread bet or CFD, futures, ETF (say USO) or options. What's the best instrument to trade it? What trading strategy to use and what news or reports do you need to keep abreast of? Using a price action strategy works well with Oil in the right market conditions.

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