Don't let these naysayers distract you. The profit potential is huge and the risk is limited. Just open an account, fund it, and then put the biggest position on that you can. You can do way more than 4x your money. In one year you can make 30000% return.
Each contract is equivalent to 500 barrels. So do the math....Even though I started out trading crude oil futures, I would advise against it or anything in the energy complex, unless you want to blow your account out a few times.
you obviously don't trade it at all; the risk it NOT LIMITED to watch it move 70 cents in less than a minute (this afternoon) is very risky! If you were short a 5 lot you just lost 3500 in less than a minute what are you talking about?
I consider myself a good CL trader and even with strict risk management in place I have watched 15k, 20k disappear in moments. Its not a good place for someone to start off to learn how to trade futures. I would have saved myself some heart ache and money if learned on some other contract. I am not being a naysayer just a realist. But then again anything is possible and he could kill it from the beginning, but the odds are not in your favor.
lol... sorry, man. That was a joke. I thought that real traders would see through it. I will say this - if you see that someone has been here for more than 5 years and makes a post saying there is no risk in CL (or ES, or whatever) and that a noob should open an account and put on the max position and sit back while he makes 30000% p/a, you may want to consider the possibility that the post is facetious. Just a friendly hint.
Trader Nik, I caught that in your comment just trying to help a noobie out so he doesn't blow out! Anyone trying to trade futures right not should not step into the Treasuries or Energy right now too volatile and someone new with no risk control will blow their account out.
Hmm, the spread is pretty big in the mini crude, and risk pretty huge, so I'll stay away. What other futures are good to look at for a while, just to study how they move with technicals. I know Gann, Elliott, Fibonacci, etc. Which futures contract follow technicals closely? I have tried technicals on ES and they work pretty good. So just trying to see if yall know others that might be good to trade based on technicals. Thanks for the post guys, it really helps. Let me know.
The best part about this thread is that he took 25k, divided it by 105 and figured he could short 230 contracts. After he said that .025=12.50.... lol... its like free money!!!