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Swing Trading MCL and CL


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Swing Trading MCL and CL

  #1 (permalink)
Antares66
Berlin+Germany
 
Posts: 58 since Jan 2020
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Hello,
would like to know if some is swing trading crude oil.
Or are MCL and CL only good for scalping and day trading?
I have some experiences in trading ES and NQ but never traded commodities before.

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  #2 (permalink)
 kevinkdog   is a Vendor
 
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Antares66 View Post
Hello,
would like to know if some is swing trading crude oil.
Or are MCL and CL only good for scalping and day trading?
I have some experiences in trading ES and NQ but never traded commodities before.

I swing trade crude with algos, there is good opportunity. Right now, though it is more than a little crazy, with HUGE swings and huge volatility.

If you have never traded CL before, now is not the time to start IMO.

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  #3 (permalink)
Antares66
Berlin+Germany
 
Posts: 58 since Jan 2020
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kevinkdog View Post
I swing trade crude with algos, there is good opportunity. Right now, though it is more than a little crazy, with HUGE swings and huge volatility.

If you have never traded CL before, now is not the time to start IMO.

Thanks for your reply.
I would start with MCL since the tickvalue is 1 and not 10. 1 point change in CL means $1000 thatīs too much for me to handle.
My problem is that i donīt exactly know which platform i should use for swing trading. I have an IBaccount also can use TOS.
I could make my analysis on TOS and execute trades on IB. I used Sierrachart before but canīt assess if this would give me any advantage because
I donīt intend to scalp or to use orderflow.

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  #4 (permalink)
 kevinkdog   is a Vendor
 
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Antares66 View Post
Thanks for your reply.
I would start with MCL since the tickvalue is 1 and not 10. 1 point change in CL means $1000 thatīs too much for me to handle.
My problem is that i donīt exactly know which platform i should use for swing trading. I have an IBaccount also can use TOS.
I could make my analysis on TOS and execute trades on IB. I used Sierrachart before but canīt assess if this would give me any advantage because
I donīt itend to scalp or to use orderflow.


Even MCL has swings right now that should scare you. Just since the beginning of March, if you were long 1 MCL, you have had to endure:

4 up days with $500 or larger profit (including 1 day over $1K)
2 down days with $500 or larger loss (including 1 day over $1500 loss, and today over $700 loss)


It has been a wild ride these past few weeks.


For platform, I guess it depends on what exactly you are doing analysis wise. I would think the biggest is problem is how to trade MCL, more than how to execute those trades.

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  #5 (permalink)
Antares66
Berlin+Germany
 
Posts: 58 since Jan 2020
Thanks Given: 8
Thanks Received: 41


kevinkdog View Post
Even MCL has swings right now that should scare you. Just since the beginning of March, if you were long 1 MCL, you have had to endure:

4 up days with $500 or larger profit (including 1 day over $1K)
2 down days with $500 or larger loss (including 1 day over $1500 loss, and today over $700 loss)


It has been a wild ride these past few weeks.


For platform, I guess it depends on what exactly you are doing analysis wise. I would think the biggest is problem is how to trade MCL, more than how to execute those trades.

You are absolutely right. Itīs scaring. Every news on the situation in ukraine has a direct impact on the market.
Do you hold your positions over night?
I mean not only CL is scaring these days, also ES, NQ. If you donīt want to watch the screens all day you have to programm an algo like you did or you have to set very tight stops.
I also could trade SPX options on expiration day what offers sometimes more gains than trading ES. But you have the big spreads and time decay to watch. This is not easy.

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  #6 (permalink)
 kevinkdog   is a Vendor
 
Posts: 3,663 since Jul 2012
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Antares66 View Post
You are absolutely right. Itīs scaring. Every news on the situation in ukraine has a direct impact on the market.
Do you hold your positions over night?
I mean not only CL is scaring these days, also ES, NQ. If you donīt want to watch the screens all day you have to programm an algo like you did or you have to set very tight stops.
I also could trade SPX options on expiration day what offers sometimes more gains than trading ES. But you have the big spreads and time decay to watch. This is not easy.

I do hold overnight.

I actually have pretty big stops - small stops will likely only help in getting you stopped out. But big stops are dangerous too.

Nothing in trading is what I'd call easy, that is for sure!

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  #7 (permalink)
Antares66
Berlin+Germany
 
Posts: 58 since Jan 2020
Thanks Given: 8
Thanks Received: 41


kevinkdog View Post
Even MCL has swings right now that should scare you. Just since the beginning of March, if you were long 1 MCL, you have had to endure:

4 up days with $500 or larger profit (including 1 day over $1K)
2 down days with $500 or larger loss (including 1 day over $1500 loss, and today over $700 loss)


It has been a wild ride these past few weeks.


For platform, I guess it depends on what exactly you are doing analysis wise. I would think the biggest is problem is how to trade MCL, more than how to execute those trades.

You are absolutely right. Itīs scaring. Every news on the situation in ukraine has a direct impact on the market.
Do you hold your positions over night?
I mean not only CL is scaring these days, also ES, NQ. If you donīt want to watch the screens all day you have to programm an algo like you did or you have to set very tight stops.
I also could trade SPX options on expiration day what offers sometimes more gains than trading ES. But you have the big spreads and time decay to watch. This is not easy.

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  #8 (permalink)
Antares66
Berlin+Germany
 
Posts: 58 since Jan 2020
Thanks Given: 8
Thanks Received: 41


kevinkdog View Post
I do hold overnight.

I actually have pretty big stops - small stops will likely only help in getting you stopped out. But big stops are dangerous too.

Nothing in trading is what I'd call easy, that is for sure!

Is CL your favourite instrument?
I as a beginner in future trading prefer MES, MCL, MGC. There isnīt a micro grain future, isnīt it?

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  #9 (permalink)
 kevinkdog   is a Vendor
 
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Antares66 View Post
Is CL your favourite instrument?
I as a beginner in future trading prefer MES, MCL, MGC. There isnīt a micro grain future, isnīt it?

I don't have a favorite, I algo trade many markets.

There are micro currencies and grains available at the CME. https://cmegroup.com

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Last Updated on March 14, 2022


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