QM is garbage, stay away. If the bid ask is wide, you can usually split it and get taken out, but... don't try this with any size. You have two costs you confront every trade. Commissions and the spread. The spread in QM makes it junk for daytrading. If you want to hold a trade on oil for overnight, days or weeks, well that's different. But daytrading.. no, not only is it not worth it, it's harmful.
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/QM or /CL which is better to trade?
- Thread starter MoreYummy
- Start date
I've traded both. I can make money trading CL but only lose money trading QM. If you are dead on with your analysis and entry then QM will only frustrate you by giving you 1/2 the reward. I just don't see how trading QM makes any sense.
Just my 2¢
Just my 2¢
Hi guys.
First I want to please someone if possible, the CL daily database in Excel file format from 1st March 2009 until today. Doesn't need the volume, just date, open, high, low, close. I would be very grateful.
Now talking about CL trading, in my experience, and in response to a post of a ET member, trading QM or CL is the same. If one wins with CL, it will win trading QM too. There is much more volume in CL than in QM. So if you trade very small positions, you can do basically the same in both contracts. If you are an unexperienced trader, you should only trade 1 QM contract. Don't try to win every single tick all day. You may end losing the best moves. Try to get 1 or 2 swings intraday or bet on the daily trend and stick to it for days.
Please, I really need the database.
Best regards to everyone.
First I want to please someone if possible, the CL daily database in Excel file format from 1st March 2009 until today. Doesn't need the volume, just date, open, high, low, close. I would be very grateful.
Now talking about CL trading, in my experience, and in response to a post of a ET member, trading QM or CL is the same. If one wins with CL, it will win trading QM too. There is much more volume in CL than in QM. So if you trade very small positions, you can do basically the same in both contracts. If you are an unexperienced trader, you should only trade 1 QM contract. Don't try to win every single tick all day. You may end losing the best moves. Try to get 1 or 2 swings intraday or bet on the daily trend and stick to it for days.
Please, I really need the database.
Best regards to everyone.
Quote from MoreYummy:
/QM or /CL which is better to trade?
They seem to similar of course, but for those who trade it daily can tell their differences.
thanks.
For newer crude oil traders just entering the arena, QM offers the exact-same price parameters as ES values. $12.50 ticks that do often flare to two-ticks in width. Then again, crude oil market ranges 300% to 500% wider than ES just about every day, so a 2-tick bid/ask flare relative to that is relatively nothing by comparison.
They arb so closely that not often will you experience a QM stop getting taken out to the tick while a similar CL trade holds its stop. That does happen, it happened to me a few times but not often enough to be a long-term concern.
Anyone who thinks they can trade CL or QM with teeny stops in tick-scalp fashion successfully might as well just pull their money from the broker right now, pile it on the kitchen table and light it on fire. At least the pain will be quick instead of prolonged... net result will be exactly the same.
If you aren't trading a +2 / -1 ratio in crude, forget about which symbol is better or worse. You are a dead man walking from here. If you use prudent width stops seeking 2x or greater profit exits, the QM is a friendly pair of training wheels to begin your ride.
CL is superior for the reasons everyone stated prior, but the QM is good enough and a fine place to start.
what is your experience with stop slippage - reasonable amount of ticks to expect? QM
Quote from austinp:
For newer crude oil traders just entering the arena, QM offers the exact-same price parameters as ES values. $12.50 ticks that do often flare to two-ticks in width. Then again, crude oil market ranges 300% to 500% wider than ES just about every day, so a 2-tick bid/ask flare relative to that is relatively nothing by comparison.
They arb so closely that not often will you experience a QM stop getting taken out to the tick while a similar CL trade holds its stop. That does happen, it happened to me a few times but not often enough to be a long-term concern.
Anyone who thinks they can trade CL or QM with teeny stops in tick-scalp fashion successfully might as well just pull their money from the broker right now, pile it on the kitchen table and light it on fire. At least the pain will be quick instead of prolonged... net result will be exactly the same.
If you aren't trading a +2 / -1 ratio in crude, forget about which symbol is better or worse. You are a dead man walking from here. If you use prudent width stops seeking 2x or greater profit exits, the QM is a friendly pair of training wheels to begin your ride.
CL is superior for the reasons everyone stated prior, but the QM is good enough and a fine place to start.