anyone daytrading the QM mini Crude Oil?

anyone daytrading the QM mini Crude Oil? I have not traded it in quite some time...anyone daytrading it? comments, thoughts?

 

incy, just pick a contract and trade it, jeez.

 

don't want to miss out on the "best contract to trade"

 

There is no magic contract. They all move around, just pick one.

 

Isn't the intraday volume terrible on it?

 

You already started this thread before, Dingus.

http://www.elitetrader.com/vb/showthread.php?s=&threadid=117798&highlight=QM

 

Tomorrow will be questions about methanol futures, then lumber futures, then milk futures....

 

CL is the best contract to trade. Price moves a few ticks off every possible level you can think of, meaning that even if you have no idea how to trade, you can just buy a support level or sell a resistance level with a 3-tick stop and rarely lose more than 4 or 5 ticks with slippage, but every now and then catch a really nice move.

I've never even looked at QM. Mainly because I can't figure out what "QM" stands for, and that disturbs me. I can't trade something whose symbol makes no sense.

Symbols that make sense, so I will trade them:

6E = Euro (E for "Euro" and 6 for "there are 6 major European countries I can name, 5 constantly needing bailouts and 1 constantly rolling its eyes at the them")

AAPL = Apple (the fact it has 2 "A"s instead of 2 "P"s is merely whimsical, not disturbing)

CL = Crude, light (totally sensible; the only symbol that would be more sensible would be "OIL")

ES = Electronic S&P500


Symbols that make no sense, so I will not trade them:

X = ?? (I actually used to trade this stock until it caused a severe brain infection one day involving 40 trades and a max daily loss)

QM = ??

YM = ??

RBOB = ?? (What were they thinking???)

 

Reformulated something that starts with B something that starts with O something that starts with B I like SWUTMG better (stuff we use to make gasoline)

 

The QM/CL is a perfectly good instrument for a newb to lose a lot of money very fast. It's a very difficult instrument to trade that requires a lot of study and analysis. It's definitely tradeable but you can't just jump in and expect to start generating coin.