Crude (CL) question on fills

Discussion in 'Energy Futures' started by Ialwayslearn, May 7, 2008.

  1. For those who trade CL intraday, what slippage do you typically experience on market orders?

    Also if you use limit orders, what percent typically fill over the long term?
  2. Surdo


    You are out of your mind to use a market order in CL, period.

    el surdo
  3. Trade electronically ONLY. It takes forever for fills from the floor and good luck getting a good price.
  4. 100% if it prints past your price.
  5. Electronically would be the chosen method.

    If you sent a market order ELECTRONICALLY how bad would slippage be?

    I'm NOT looking at fast markets or extreme situations just typical market order slippage in ELEC.

    It appears very liquid.

  6. Surdo


    Use a limit order in CL ALL the time, just allow .05 above or below your target limit if you must get on.

    There is no slippage, it just WHIP SAWS in .10 points so you might get plugged badly with a market order.

    Are you brand new to trading?

    Good luck, perhaps QM is more appropriate.

  7. Thanks Surdo!

    Not new.

    I've just never paid close attention to how oil trades.
  8. A resting stop limit order will typically get between 0 and 3 ticks slippage. In extreme market moves you might get more slippage than that.
  9. Thanks Businessman!

    ROOKIE question alert...

    I was watching the electronic market during the Open Outcry session (9am-2:30pm EST). I am CST.

    It doesn't look at though the action has slowed even a little bit at 2:30 EST .

    Thus, I am adjusting the hours that I want to watch "Per day."

    Which hours during the day would you watch?
    Stock market hours???Etc....
  10. phucking lunacy on these blogs..i have been trading oil for ten years...
    80% cl volume is electronic globex....

    use only

    mkt orders.....slippage..the spread..duh...1-2 ticks

    this is not stocks people...1 cl contract=1200 shares uso

    338,399 vol cl june 08 = 405 million uso equiv. uso trades about
    8 to 12 million shares a day or 8,000 cl contracts!! thats it..
    they track each other but large traders use cl..not uso...anyone
    starting to trade oil should trade 300-500 shares uso..not the mini cl sucks...

    stop orders...1-3 ticks slippage

    mit orders..not if touched

    Stops are extremely safe in cl due to the massive amouint of liquidity...

    you are much better off trading cl options..byt you must go to the pit and unless you have a give up with pit will get raped on the fills

    #10     May 7, 2008