Oil on Cme

Discussion in 'Commodity Futures' started by wtraderb01, May 8, 2012.

  1. Just starting trading CL on CME. Does anybody have any insight or sources of where I can find general information on the energy products such as roll volume info, cautionary trading levels, etc.

    Also, this is probably more important, but are there any recommended news sources, feeds, or economic calendars that are specific to the energy markets?
  2. emg


  3. mm fresh meat :)
    oil is very treacherous for trading outrights.
    you should start with trading spreads.

    important times of the week are
    wednesday 10:30 NY time crude report (DOE i think)
    tuesday night (some other crude report, API??)
    thursday 10:30 natural gas inventories (affects sometimes)

    for market news i use tradethenews, it also has squawk.
    crude has a tendency to make days high or low between 9:00 and 9:15 NY time
    monthly carry charge of WTI (CL) is about 40 cents
    front months should be cheaper, that is normal (fancy word, contango)
    else fear of shortage and big rally can follow (backwardation, as in 2008)

    wti is the price of oil in midwest, lots of production flows here, kinda glut, physically delivered, front contract thins about 13-14 days before the start of contract month (jun futures thin about 17-18 may)
  4. Crude oil is a beautiful instrument offering a lot of money on a daily basis to those who are fortunate to be on the right side of the market.

    You will find a lot of information at the CME site that emg linked.

    Economic calendar at Bloomberg and Forex Factory.

    Unless you are a gambler or very experienced, consider staying flat prior to news releases. For crude oil in particular, you have release of inventory data every Wednesday at 10:30.

    Have fun! :)
  5. lololo


    maby we can to talk about price action in CL. no indicators but crude 1 min chart, 2-3 filtered tapes,level2 (using tape to see real "big" in level2) and 39-50 tick chart:
    1- revers trades from big limits in tape(after some nuanse after it)-with R:R - 6:15(and more, but i usualy take 15-19) tick
    2- scalps from narow range by taking liquidity from side of market and scalp for 15-20 ticks with risk 6 ticks.
    3- trade moves on data reports and EIA Natural Gas - after some minutes for 50 and more ticks with risk 6-8 ticks. not only trade for move on it's pool back, but from the beginnig of the move (it's real)
    4- trading with banks robots (but i still can not easy understand them - my little experience.but see some moments.)

    or really experienced traders are not going to share something they do?
    because 20 man will not change something in crude oil market that could decrease profit fo big boys and their profit stability.
  6. ocean5


  7. ocean5


    What i`d love to have for thtrading oil on CME is some kind of an alert for today(20/06/2012) shitty event,when id drops like shit.Is there any?F.kin crap eaters went crazy today!