hey guys is is the guy who held USO for 6 months and lost 6k.

>>1085086
bump

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>being so pathetic that even a predatory broker like etrade feels bad for you

Jesus I'd just end it desu

>>1085126
i was hoping for some actually useful feedback...

Buy the stock of companies that produce oil and have a track record of surviving low oil prices

>>1085135
well i was gonna buy BP but i'm afraid of them going bankrupt

>>1085086
You again?
Futures really are the most direct route.
Did they give you a specific reason? I've heard people on here claim you can get approved with $5K.

>>1085086
Buy call options on the largest oil ETF you can find.

>>1085086
>>1085212
If your broker gives you shit about not knowing how to trade options, just tell them you'll be buying options and not selling.

fucking retard, you shouldn't even be trading oil if you think now is the time to go long

you deserve to lose more money

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>>1085192
yeah they told me that i have zero income so i don't qualify and that futures are an 'advanced' trading style LOL anyone know where i can take my 20k+ bankroll to trade futures? I have excellent credit btw ETRADE rejected me

>>1085235
I was gonna go long when oil hits around 17 USd a barrel in brent. how is this a bad time?

>>1085255
oil will go down yes, but it will take some time. shit will implode in april, when we get the report that says that oil storages are full. by then, everybody will try to sell oil they digg up, PLUS the oil they have stored. oil can really plummit from this, so dont go long oil yet OP. especially if you dont have income. if you are not prepared to lose what you are trading with, you will fuck yourself over with fear, and lose it all.

>>1085247
Check with TD, they may have more lax requirements.
That may be where the $5K people were talking about.

>>1085266
>you will fuck yourself over with fear
So true.
I came very close to folding my contract last week at $33.60, fucking unexpected reversal.

>>1085247
You can buy options which you absolutely won't get rejected if you have half a brain. They're highly leveraged also.

>>1085294
me too. went bearish on oil at 28USD and considered closing the position (pure fear, 50% down) when oil was at 36USD. now its at 30USD and i praise my maker for not chickening out. i had to remind myself why i was bearish in the first place, and it seems as tho my analysis was correct but with the worst possible timing. still bearish, fundamentals hasnt changed to the bull side

>>1085319
>my analysis was correct but with the worst possible timing
Hahahha, me too! $29.56!
Glad I rode it out, but fuck that noise.

>>1085294
what does TD stand for?

>>1085341
TD Ameritrade.

>>1085349
always thought TD meant Toronto Dominion

>>1085247
>yeah they told me that i have zero income so i don't qualify
Have you tried lying?

Anyways if you only have savings you should focus on getting a job not trading derivatives

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>>1085086
>>1085121
>>1085128
>>1085175
>>1085247
>>1085255
Nigger, buy options on USO. The $8.00 March 18th call option is only $0.83 right now. Why would you not give it try? This could easily be a double bottom.

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>>1085411
The double bottom over the past 3 months.

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>>1085411
>>1085417
he tried that.

pic related, from the last thread he made

>>1085247
>>1085294

I've been preparing for getting into stock trading online. I don't plan on starting for another couple of months, but you're getting me worried with these stories of brokers not allowing you to trade.

>My income comes from freelancing so I don't have salary checks or whatever to show
>Starting money may be around $30k
>Live in Montenegro

How fucked am I?

Not interested in futures or options.

>>1085423
TOP KEK

I didn't even put it together that it was that same retard. Now he's down on all ETFs because he didn't understand the inner workings of complex multiple leveraged ETFs and still coming to /biz/ for help.

I literally cannot think of a sadder example of a human being.

>>1085423
I'm talking about buying options which are highly leveraged but not nearly as risky as futures. Was he buying leveraged ETF's?

>>1085461
Futures are structured in a way that you can go negative if your trade goes wrong. With options though the most you can do is just lose your initial investment.

>>1085511

I see. But if I just want to buy stocks of companies or index funds, the broke should have no reason to prevent me, correct?

>>1085511
>>1085529

Obviously I don't plan to go into futures.

buy UCO

At least look into it.

>>1085461
>brokers not allowing you to trade
He's talking about futures, though.
Don't know Montenegro's laws, but $30K is more than enough for a US brokerage to allow you to buy equities.
While there's even less requirements when it comes to opening non-margin accounts, you wouldn't want to be trading in one of those.
Come to think of it, you shouldn't be trading with $30K to begin with.
Investing, yes.

>>1085529
No, unless you've got maybe some type of financial trouble that could be easily found. They may want to talk to you a little bit about risks and sort of test you on your knowledge as a precaution but it would be minimal.

>>1085546
>>1085658

Thanks bros.

>>1085417
I hope to god its a double bottom, but I think this time it's different. It only had that short rally because of speculation over whether or not Saudi Arabia and Russia planned to cut oil production.

>>1085086
my broker dont give a fuck and im pretty sure the president or ceo is a ex con

amp global clearing

USAA is a pretty lax broker and will approve you for the trades you want if you put that you have X amount of experience when applying

>>1085369
i'm going to pharmacy school in august.

Why would i lie on a corporate form like that. Sounds like a way to get into serious fraud trouble

>>1085503
I held USO for 3 months. even thought the spot price of oil went down 48% from when i bought it i lost 67% of my position because the ETF bleeds bc it's a daily derivative and not meant to be held long

>>1086009
Just find the ETF that tracks oil the best and buy a call on it.

>>1085411
>>1085417

why the fuck would it bottom?

what has changed? Oil went down like 7% today

25 oil this week

>>1085793
That's why I was saying for people to just buy that call option. You don't have to put up nearly as much money as you would if you were just buying and holding an ETF. If a decent war breaks out with Syria, Russia and Saudis/Turkey then oil could easily break upward through the downward trend line.

>>1086279
God damn. You guys have watched oil collapse and you act like it's just now starting to collapse. Do you expect it to go to $5 a barrel? Buy it when nobody wants it and sell it when everybody wants it. On a side note, platinum is the cheapest precious metal on a long term percentage basis.