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A day trader uses this chart pattern for volatile oil trades

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A day trader uses this chart pattern for volatile oil trades

Shain Vernier

Day trader Shain Vernier uses technical analysis to quickly trade commodities like oil, gold, and currencies.

He tracks previous price spikes for contracts and places bracket orders for small profits.

By scalping (opening and closing a position quickly) and avoiding events that attract too many traders at once, he achieves a high profit rate.

Shain Vernier is a full-time trader betting primarily on crude oil, gold and currencies. The core of his strategy is that he avoids speculating on the direction of the market or making price predictions. His approach is to get in and out quickly.

When he’s not trading, he’s an online coach and educates others HowToTrade.com how to apply technical analysis. In a previous interview with Business Insider, he explained one of his main strategies: using the Fibonacci-Retracement-Toolsto bet on price volatility.

In this interview, he explained another strategy he uses to trade crude oil futures contracts via the CME’s West Texas Intermediate (WTI) contract. This gives the buyer the right to “theoretically” receive a delivery of shares on the expiry date of the contract. The contract ensures the quality and quantity of the delivered shares of a specific product.

How day trader Vernier does it: His goal is to place a stop-limit buy order

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