does anyone know if many prop shops in the US are trading crude? if so, is it mainly Brent on the IPE or are they trading Nymex mini contracts? The IPE volume looks liquid enough for trading (+100k/day) but how much of that volume is during US hours? and are people basically trading the IPE Brent contract tic-for-tic with Nymex WTI? also, how about nat gas either on the Nymex mini or thru ICE? any info would be appreicated. thanks a plenty!
We are trading oil on the CME gateway, but it will be gone in a month and NYMEX will go online. Trading oil on ICE also, but the platform is not stable and goes down ALL the time.
buylo: how is the liquidity on the CME/Nymex minis? looks solid enough for individual traders and pretty much trades at every $.025
The guys around me seem happy with the CME liquidity. They don't trade very big (1-20 lots), since we just got it about a month ago. Not sure what the plans are with NYMEX, I know we don't have that platform yet.
You really dont need a prop shop for futures or commodity trading, I first traded futures and commodities because of the extreme leverage they gave in the first place. If your going to put up 8000$ for a prop, you might as well just do it youself, its alittle slower but you can buy a couple of contracts and build yourself up, and you dont have any guy hassling you for performance, you can do it on your own terms, and mind you can start with 3000$ and buy a few contracts ;D
mahram; thanks for the info, but I currently trade my own funds, so I would be using the prop shop only for a desk setup and connectivity to the exchanges. I was just curious to see if any of the shops were trading on the Nymex. thanks again!
Scec: What city are you in? There are a few small groups in the Merc upstairs. I PM'ed you. You can open a customer account with your own funds @ Pioneer.
Ebo - I currently work out of an office at the CME. I am mainly interested in a prop shop because the Nymex seat leases ($18k/month) are prohibitively expensive, so I am looking at alternative ways of trading crude/nat gas. anyone doing any trading of nat gas?