Do anybody that trades Crude intraday skip report Wednesdays? I have focused exclusively on this market for a few months, which I think is tops for intraday traders(at least for my style) it is. The reason I ask is that I have noticed a reduced number of good low risk trade opportunities on days which the supply report is released. Also on trades that I do end up taking, the probabilities are lower. Considering opting out of Wednesdays completely. Wondering if anybody else has had same experience?
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Oil and Report Wednesdays
- Thread starter Malinois
- Start date
Sometimes the report can be a catalyst for a trending day. Now, if thats go or bad for you I dont know since I dont know your trading style. I never skipped weds just because of the oil report. Though I did skip placing any trades before the report. It just just moves to violently for me. With that being said, I have abandoned the QM due to a drop off of volume.
Quote from Trader273:
Sometimes the report can be a catalyst for a trending day. Now, if thats go or bad for you I dont know since I dont know your trading style. I never skipped weds just because of the oil report. Though I did skip placing any trades before the report. It just just moves to violently for me. With that being said, I have abandoned the QM due to a drop off of volume.
I never place trades before the report either. If you liked the market, why not trade CL(full-sized physical contract).
Quote from whitster:
i LOVE trading the reports for crude, just like FOMC is incredible for trading index futures
it is a futures scalpers DREAM
i scalped QM today during the report. that's great stuff
It all comes down to style I suppose. Personally there is plenty of volatility on non-report days to keep me happy, don't need the added excitement of a report to generate good high probability/ good risk/reward trades.