Oops

Market order in back month outside of regular trading hours = asking for trouble. Did you look at the bid/ask before entering an order?
 
farmerjohn1324 said:
That would be $700. I'm not too worried about that.

I just don't want to get stopped out before the uptrend.

Edit: nm that's $4200. I'm tired. Going to sleep now.
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Yer in this thing with 7 contracts? *SMACK*

I hope you have high 7 figures in your account to survive the possible swing on this one. Swinging size is not for the squeamish on any given day, and especially not now!
 
Oil futures contracts are liquid 1 to 2 years out. Your statement is wrong. I agree with the other guy that holding such size over the weekend in a contract with so much volatility for a guy of so little experience and insight and tight funding levels is insane and outright stupid. The issue is not about spread (which will be tight during regular market hours even in multiple months out oil contracts) and its not about margin levels either.

schizo said:
No, the main issue is that, since there's no volume, there will not be anyone he can sell to. No wonder there's a huge spread. Think about it.
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Incorrect. Look at the spread on Monday and you will see October spreads to be very tight. Though I like to mention that the regular expiration trades generally at higher volume, so Sept or Dec contracts are more widely traded than October contracts unless October is the front month (in September-October)

schizo said:
Only reason why the spread is so wide is because of low volume. Look at the chart below. There's hardly no action. Why would you even consider trading it? Unless, he's absolutely sure the price will advance higher until October, it would be impossible to get out without a major slippage.

View attachment 223975
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Exactly, this and only this should be the only issue the OP will be facing this weekend. Gap risk over the weekend and way too high exposure.

southall said:
Well its ruined your weekend. You never know CL might gap up $10 dollars
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There are so many morons on this forum. With implied prices the spread will be minimal in the V0 contract even during ETH. If you have a shitty broker that doesn't display implied prices, just make sure your stop loss order is native to the exchange and not resting on their shitty platform and you will be fine.

That being said, how do people expect to make money when they don't have a clue about what they are trading?
 
Not specifically addressing OP here, but the recent new threads and posts in those speak volumes and support the notion that 95% of retail traders and investors lose money over time. What shocks me the most is the fact that the same person may spend weeks and months doing research on a, for example, new computer worth 2 or 3k, yet the same person with blindfolds on easily gambles away 10k or often times way more

FroggerMan said:
There are so many morons on this forum. With implied prices the spread will be minimal in the V0 contract even during ETH. If you have a shitty broker that doesn't display implied prices, just make sure your stop loss order is native to the exchange and not resting on their shitty platform and you will be fine.

That being said, how do people expect to make money when they don't have a clue about what they are trading?
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There is something interesting for me.

Why assuming that oil price will go up in longer time, people try to profit from this using futures contracts ?? Never heard about contango ? or what ? (I know that there was no front buying, but still...)
 
MichalTr said:
There is something interesting for me.

Why assuming that oil price will go up in longer time, people try to profit from this using futures contracts ?? Never heard about contango ? or what ? (I know that there was no front buying, but still...)
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Because it should go up when the economy recovers. But might go down periodically in the meantime.
 
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