Big C.L. - or - Mini QM ? ?

Discussion in 'Commodity Futures' started by Torontoymtrader, Apr 10, 2007.

  1. Today's volume on the electronic CL is around 176,500 right now. QM is around 13,600.
    #11     Apr 10, 2007
  2. notouch


    I stand corrected.

    By about 5 people now... :D

    The mini is obviously only of any use for paupers like me.
    #12     Apr 10, 2007
  3. start with the QM and work your way up to CL...if you aint making money with the aint gonna make cash with the borker offers $1,200 daytrade margin on the QM and $2,800 daytrade margin on the CL...
    #13     Apr 10, 2007
  4. Realist



    Newer traders that want to try out Crude without getting completely wasted on their first trades should use QM first.
    #14     Apr 14, 2007
  5. CL
    #15     Apr 16, 2007
  6. I trade mostly stocks,SPY ,IWM options.
    Correlating to oil, I trade 3 distinct different oil sub group stocks.
    Integrated/refiners/gassy stocks/Drillers/OSX service providers etc
    Because XOI/OSX does diverge with crude movement,recently strted trading USO to mimic CL. (same way GLD /gold futures)
    Even though I have CL in my screen, I trade USO ( it lags very badly to CL front month because of management costs & roll over costs)
    I can trade USO in 100 share increments (even 50 shares some times). works only with low cost broker like IB.
    Averaging in to a say $ 2 down move is risky.But works most of the time!I will go up to 1000 shares on a 2 day down trend.
    Nibbling small quantities initially & when indicator is strong I buy larger lot.
    Volume is decent in USO. For every $1 movement in CL, you may get around 0.60 to 0.70 in USO. latest gas fund is UNG .
    #16     Apr 22, 2007
  7. soory seems I have QM in my QT even though I have CLK7/M7 in my TWS. To get the approximate idea both are the same.volume differs ofcourse.
    #17     Apr 22, 2007
  8. I have been charting USO along with CL because on some ID time frames the 24 hr charts are not as clear as the regular session charts.

    #18     Apr 23, 2007