What to look for in Light Sweet Crude?
- Thread starter TradingBillions
- Start date
Hey all traders love volatility, that's how you make money. What he's saying, and I agree, is that it's too much of a risk to bet one way or another on a numbers release. You can make a lot of money but if somethings out of whack you can lose a lot too
Now if you have a friend in the EIA, that's different
Are you serious?
Going into a report with a position is pure gambling. No one ever knows what these things are going to reveal. Its literally throwing dice, which is much different than using a proven approach during a rational market (one that's not jacking all over the place like Snoopy on crack). That said, I do like report days. I generally wait for things to quiet down a little, and then place trades, or I often fade spikes that get too extended.
I like volatility also. In fact, as a pure day trader, I HAVE to have it. But limiting risk is absolutely key in this business. I am anal about it actually. Yes, I pass on lots of good trades, but I have a high win percentage as well. Psychologically, makes things much easier.
Light Sweet Crude
This is a fast volatile market. It looks wild to non-professionals and newcomers. It becomes slow and docile through the perception of experience, market knowledge and an applied methodology; whats more its eminently manageable.
Light? Makes you feel light headed at the opportunity it gives you to make money.
Sweet? Very sweet. Big fast moves, big steep moves, with you in the first carriage of the front month train going in the direction of each one. This is sweet.
Crude? Sure is. Making sh*tloads of money from oil, is crude behaviour. I like that.
This is a fast volatile market. It looks wild to non-professionals and newcomers. It becomes slow and docile through the perception of experience, market knowledge and an applied methodology; whats more its eminently manageable.
Light? Makes you feel light headed at the opportunity it gives you to make money.
Sweet? Very sweet. Big fast moves, big steep moves, with you in the first carriage of the front month train going in the direction of each one. This is sweet.
Crude? Sure is. Making sh*tloads of money from oil, is crude behaviour. I like that.
Initial margin for non-members for CL is indeed $4,050 (I assume this is what you mean by performance bond, although I have never heard it called that)...but sometimes the clearing firm or introducing broker (IB in my world, but on this site IB seems to be synonymous with Interactive Brokers) may set their own margin requirements above and beyond the exchange minimums.
Quote from Cheese:
Light Sweet Crude
This is a fast volatile market. It looks wild to non-professionals and newcomers. It becomes slow and docile through the perception of experience, market knowledge and an applied methodology; whats more its eminently manageable.
Light? Makes you feel light headed at the opportunity it gives you to make money.
Sweet? Very sweet. Big fast moves, big steep moves, with you in the first carriage of the front month train going in the direction of each one. This is sweet.
Crude? Sure is. Making sh*tloads of money from oil, is crude behaviour. I like that.
that was one hell of a breakdown,cheese..........good stuff.
after trading ES since `97-`98 when the intra day moves were whipsaw city & good for 20 to 30 handles/200 to 300 dow points swings on a good day.........& now to see these bots squeeze every single tick for what was once a great market for vol,is a shadow of it`s former self.
i`ve noticed myself not even looking at ES anymore when there is a market like CL out there.....there is enough opportunity there to to feed a small country.