I'm basic and have a question about CL

Discussion in 'Energy Futures' started by Nostradamus357, Nov 7, 2010.

  1. How many contracts can I get with $9900?
  2. oraclewizard77

    oraclewizard77 Moderator

    It really depends on the broker but I would say 1 contract per $ 1,000 off the top of my head, and 1 ES contract for $ 500. These are intraday rates.

  3. Thank you.
  4. Shagi


    The exchange requirement is $5000/contract. If you have $9G your risk management techniques should give you the answer you seek.

    However any suggestions with your $9G that you can trade up to 9 CL contracts with $1000 margin even if daytrading is foolhardy. Go ahead and try it you wont forget the lesson.

    With $9K better you look at trading the the mini - CL at half the normal contract size. Ticker symbol is QM.
  5. Now I'm confused. Let me try this from a different angle...

    How much money do I need in an account to get 10 contracts for just intraday trade?
  6. Is your broker Elite Trader?
  7. Shagi


    Your broker will give you the answer but most brokers will allow 50% day trade margin about $2500/contract.

    But you dont really need a broker to tell you how many CL contracts can I day trade with $9G. The mere fact you are asking this question means you shouldn't be even thinking of trading. Do some homework and try a simulator to see what it means to hold 10 CL contracts with $9G margin.

    You will be wiped out in a second.:D
  8. know whats fun on a sim?

    take on 100 contracts and let it go outta control over night and then bust it out to see if you can bring it back. do this for a month strait.

    The catch is the quality of the sim. if you use one that fills anything its useless. but if you use one thats close to 100% accurate with fills, you just might be on to something eh?

    or should i keep my day job of stock trading?
  9. For $9,900 I would only use one ct for CL.

    In fact you should have near 20K for one ct with CL.

    Other wise the risk of ruin factor will/can strike and you are out before you know it.

  10. blox87

    blox87 Guest

    1 lot per 10,000 of equity is the smart way to go... If you're dumb then by all means buy as many as your broker will allow.
    #10     Nov 8, 2010