I stand corrected. By about 5 people now... The mini is obviously only of any use for paupers like me.
start with the QM and work your way up to CL...if you aint making money with the QM...you aint gonna make cash with the CL...my borker offers $1,200 daytrade margin on the QM and $2,800 daytrade margin on the CL...
CL. Newer traders that want to try out Crude without getting completely wasted on their first trades should use QM first.
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 .
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.
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. GC