how to trade natural gas

I am up $44 USD on the second longg trade, I will close the trade here and stop for the day

Bird's-eye view of the days trade.

Based on the bullish EIA weekly inventory data, I have taken a buy trade on natural gas. I didn't set a stop loss because i am risking the exact amount of money in my account. Gas has a very wide spread (29 pips) with this broker so I better not set a stop loss or I will get stopped out easily

Trade is in progress

Price started going down so I had to close and take the small profit I made. Liquidity is unusually dry today even after the EIA data release.

l am considering starting a natural gas trade, having loss consistently on EUR/USD.

Natural gas is one of the most profitable instruments you can trade, but the spread is very high with most brokers so you need to set a wide stop loss, you cannot dare set a small stop loss or you will just be kicked out of the market in the blink of an eye.

Another profitable instrument you can trade but this time with low spread, is US100 (aka nasdaq)

Had same experience with eurusd, natural gas is more profitable for sure

Natural Gas Inventory report is expected this afternoon. Forecasts show there will be a drop in inventory but lets wait and see what the actual data will show.

Is it that actual greater than forecast for natural oil is bad?

I just took a buy trade on natural gas because the EIA gas inventory dropped lower than the forecasted figure

Trade is in profit now after overcoming a 29 pip spread

Nice one, it was only testing your trading psychology

I have closed the trade in profit

I closed the Natural Gas trade in profit. I didnt want to hold it any further because the Chicago Mercantile Exchange will soon close and when they close I will not be able to close my trade again. I will have to wait till tomorrow to close it.

That's a good one normally it's not really cool to hold for so long

This is why Natural Gas Price Has Been Falling

Tropical storm Arthur currently plaguing the US gulf coast has sparked fears that US ships will not be able to export natural gas hence there could be an over-supply in the US. This is why investors have not been buying as they should causing price to go down.

https://finance.yahoo.com/markets/commodities/articles/nat-gas-prices-fall-storm-191316233.html

Heat wave reported in Europe and this could affect the price of natural gas because people need power to use air conditioning and power plants mostly run on gas. RN price is at 3,294 but it could get higher

Just went long on natural gas after price broke out of the CME pre-open hour range and started reversing upwards. My TP target is at 3,300 where some OTC expiries sit

SL blown