Stupid question: Is CL closed tomorrow? Specifically the open outcry? I can't seem to find any information that isn't confusing.
I think not, if I understand the NY Floor Holiday Calendar. CME Globex is open through mid-morning however. http://www.cmegroup.com/tools-information/holiday-calendar/index.html JB
I read you can get published intraday margin requirements reduced, which are listed for CL at $2000 per contract for my account. Anybody done this? what did you get it down to?
Firms like Mirus and Amp and Global have intraday margins less than intraday spam minimums. At Mirus (where I am at) they have 500 and 1k for the QM and Cl, respectively, and I imagine similar margins are available at the others. PBA, these margins are for traders who only day-trade the product, who only have the intention of getting in and getting out within minutes, or there-a-about. Some on this forum will argue that margins this low are crazy and you could wipe out your account in the event of another black swan like the flash crash, thus owing your broker. But if you take a moment and think about it, if the crude complex drops, say $3 in minutes, you may owe your broker thousands working with such small margins or you could lose thousands trading with a firm like IB or Advantage. Either way, you are out thousands.
Seems there was a report out saying that there is some good supply of oil available to cover demand, so we see CL fall in the morning. I did a sim trade for 10 ticks which I got. I then in the evening saw that CL did not seem to be able to break previous highs, and so went short real money. I got some take out, and the market is kind of frozen right now. I still think it will fall another 10 - 11 ticks, but decided to kill the trade with a 9 tick profit. I will do the rest of the trade in sim to see if I am right.
Hi, Today I won't be able to trade until around 10:30-11 AM, have to go and take care of my car early in the morning, but though it would help as reference points my value areas for today. Since yesterday was a holiday (lack of liquidity) i am taking the Value Areas of Friday: VAH: 74.42 VAL: 73.46 We have a Naked Point of Control at 72.24. Also I've been experimenting with Market Profile for swing positions and in my weekly MP, and 72.95 was the VAL of last week. When you look at it week by week, the Value Areas are in a down trends, which is more significant in my opinion than a downtrend in a regular chart. Good luck to you all, and see you around 11 AM ET