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Any London session CL traders?


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Any London session CL traders?

  #1 (permalink)
emmett
New Zealand
 
Posts: 46 since May 2020
Thanks Given: 35
Thanks Received: 21

Hi all,

Wondering if anyone trades WTI Light Crude (CL) during the first hour or so of the London session?

I'm currently sim trading it and really enjoying it.

I'm curious about how many contracts it can handle during the first few hours of the session. Any experience?

Cheers

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  #2 (permalink)
 madhuram 
Vadodara + Gujarat/India
 
Experience: Beginner
Platform: NinjaTrader 8
Broker: E-Signal - TrueData
Trading: Crude Oil, NIFTY, BANKNIFTY
Posts: 6 since Jul 2018
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Hey there, I do trade Crude but it is very slippery and you need to keep tight stop losses or else you will not find the time to get out. I trade with one or two or four contracts based on the market auction development.

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  #3 (permalink)
emmett
New Zealand
 
Posts: 46 since May 2020
Thanks Given: 35
Thanks Received: 21



madhuram View Post
Hey there, I do trade Crude but it is very slippery and you need to keep tight stop losses or else you will not find the time to get out. I trade with one or two or four contracts based on the market auction development.

Thanks madhuram

Was the "slippery" pun intended?

Good to hear about your experience with CL.

I'm curious about the max number of contracts a person could generally daytrade during the first few hours of the London session.

Cheers

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  #4 (permalink)
emmett
New Zealand
 
Posts: 46 since May 2020
Thanks Given: 35
Thanks Received: 21

Can anyone who trades CL during the beginning of the London session offer their experience here??

Cheers

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  #5 (permalink)
 Keab 
London UK
 
Experience: Intermediate
Platform: SierraChart/Prorealtime
Broker: Sierra Chart/prorealtime
Trading: SandP futures
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emmett View Post
Can anyone who trades CL during the beginning of the London session offer their experience here??

Cheers

Am looking to start trading oil. Here is a screenshot of the London session today 5 min chart. The blue line across the volume reading is 1000 contracts. Looks like you could do 2-5 contracts quite safely.
EG

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  #6 (permalink)
emmett
New Zealand
 
Posts: 46 since May 2020
Thanks Given: 35
Thanks Received: 21

Thanks for your reply Keab - that is interesting.

When I observe the DOM for CL during the first two hours of the London session, it's generally in multiples of 10 (i.e. two figures) at each tick level.

What I don't understand is what this translates to in terms of the average number of contracts a person could reliably daytrade/scalp during this time without incurring frequent slippage.

Cheers

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  #7 (permalink)
 Keab 
London UK
 
Experience: Intermediate
Platform: SierraChart/Prorealtime
Broker: Sierra Chart/prorealtime
Trading: SandP futures
Posts: 510 since Jul 2013
Thanks Given: 123
Thanks Received: 316


emmett View Post
Thanks for your reply Keab - that is interesting.

When I observe the DOM for CL during the first two hours of the London session, it's generally in multiples of 10 (i.e. two figures) at each tick level.

What I don't understand is what this translates to in terms of the average number of contracts a person could reliably daytrade/scalp during this time without incurring frequent slippage.

Cheers

Hi Emmett,
I think that from 2-5 contracts would be fine, but obviously it's a bit more dodgy at 5 contracts.
I think the only way to find out is going to be to jump right in with 1 contract and go from there.
Also, in a fast market with those amounts of contracts then there will definitely be slippage I would think!
Am about to start trading oil so will keep you updated.

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  #8 (permalink)
emmett
New Zealand
 
Posts: 46 since May 2020
Thanks Given: 35
Thanks Received: 21

Thanks Keab - I'd be really interested to hear about your experiences.

I'd also be interested to learn about your trading style.

I have been sim trading CL for several months and I'm almost at the point of trading my live account.

Cheers

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