Oil Trading Program

One of the main oil trading part of a oil trading plan is your oil trading program. A oil trading plan is the oil trading tool which a trader will use to determine & plan all aspects of their trading. A oil trading plan will have a written oil trading system that a trader follows & the oil trading journal rules trading rules among others.

Within this oil trading plan a oil trading plan will also write down the oil trading program that a trader will follow while trading the crude oil markets.

Here is the oil trading program that you can follow form this oil trading plan

TIMEFRAMES

• Main time frame for trading is the 1Hour.
• Oil Signals are generated on the 1Hour time-frame.
• Oil Trade Signals generated should be supported by 4Hour timeframe.

4H

• Oil Trading Trend Lines (Support and Resistance)
• 5 & 7 Simple Moving Averages
• MACD (12, 26, 9)
• RSI (14) +Support & Resistance
• Parabolic SAR

1H

• Oil Trading Trend Lines (Support and Resistance)
• 5 & 7 Simple Moving Averages
• Stochastic Oscillator (14, 4, 7)
• RSI (14) +Support & Resistance
• Bollinger Bands (20, 2)
• Parabolic SAR

RULES

LONG ENTRY

1H

1. Both MAs are heading Upward
2. Both Stochastics are moving Upwards
3. RSI above 50
4. Parabolic SAR is below the crude oil price (Support)

4H

1. Both MAs are heading Upward
2. Both Stochastics are moving Upwards
3. RSI >->50

LONG EXIT

1. RSI gives opposite signal
2. Oil Trading Price breaks Support Oil Trading Trend Line
3. Parabolic SAR is hit (Trailing Stop)

RULES

SHORT ENTRY

1H

1. Both MAs are moving Downwards
2. Both Stochastics are heading Downwards
3. RSI below 50
4. Parabolic SAR is above the crude oil price (Support)

4H

1. Both MAs are moving DOWN
2. Both Stochastics are moving DOWN
3. RSI below 50

SHORT EXIT

1. RSI gives opposite signal
2. Oil Trading Price action breaks Support Oil Trading Trend Line
3. Parabolic SAR is hit (Trailing Stop)

TRADE ROUTINE

1. Oil Signals are generated using 1 H time-frame.
2. Oil Signal to be executed immediately rules are met.
3. Entry oil trading alert trading signals should be executed during daytime.

TIME OF DAY TO WATCH MARKET - Oil TRADING HOURS

Watch market during daytime when most oil brokers and online oil brokers are open for trade transactions. Use this to create a suitable Oil Trading program.

The best oil trading hours when markets overlap that will form the best oil trading times are between 8:00 GMT and 18:00 GMT when most of the major oil trading sessions overlap. Oil Market Hours and Best Oil Trading Hours

oil trading program - best oil hours