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I'm moving to Norwalk , California . as a Permanent Resident in December . I have a couple of questions to ask as I 've noticed you are based in California.
- What company you are using to trade fx, and commodities ?
- Are you receiving 1099 from this company for IRS requirement ?
- Are you require to declare your profits to IRS ? How about Losses ? and your Investment ?
- If you have less margin in your account , does your trade automatically shuts down ...I have used FXCM before and seems this is the case...please advise me which company and platform you are using so I can try them also .
Since you are in California , what time of the day or night the most volatility for FX and commodities ?
Please email me back here :[email protected]
Are you saying 2:30pm is the former pit session hours? So I understand, you're saying 6pm to 5:15pm are the RTH? Do you look at trading beyond 2:30pm not worth trading due to low volume?
Some of my systems trade CL 24/5. Others only trade in RTH, which is 9am to 2:30pm EASTERN time.
And like others have already said in this thread.
1) Trade the times that have the most volume (look at several charts)
2) Trade the times that work best for you
It doesn't really matter to you what times I trade them, it has to work for you. I know that's not the answer you want to hear but eventually, if you stick with it long enough, you'll come to realize that is the right answer.
In my opinion, I think the best time to trade crude oil futures is from 8am to noon central time. I think it usually provides for enough moves, and these are the times I see with the most active volume.
My good time trading CL is 8:30h to 10:30h CST, perfect volatility, not to extreme, not too slow...
So, about this question, does your broker ask you for high margin overnight with CL? So, it does matter, because with a small account you need to close positions to be in the market for the next day or a few hours ahead... isn't?