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CL vs QM (crude oil) tick size/value, margins
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CL vs QM (crude oil) tick size/value, margins

  #21 (permalink)
Fortitudo et Honor
Austin, TX
Futures Experience: Advanced
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Posts: 882 since Mar 2011
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Overnight margins usually have two tiers...and initial margin and a maintenance margin...which means you must start with the intial and maintain at least the maintenance to keep the position open.

Additionally, you should check with your broker about any other limitations/restrictions. Some brokers require you to maintain a stop when you holdover night. If you don't maintain a stop in place, they'll liquidate you.

Other issues include rollover. Make sure you thoroughly understand the rollover procedures for your broker. Some brokers allow you to hold all the way to volume superiority (the new contract surpasses the old). Some have a specific number of days prior to the contract closing/settlement.

You must also go back a lengthy period and determine what a reasonable gap range for your instrument might be.

As we just saw, CL gapped $1.55 on last Sunday's electronic open. If your stop for a long position wasn't at least $1.55 from Friday's close....guess what? It got jumped.

Granted, 155 ticks is uncommon for an opening gap, but you should keep it in mind.

"A dumb man never learns. A smart man learns from his own failure and success. But a wise man learns from the failure and success of others."
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  #22 (permalink)
Elite Member
Futures Experience: Beginner
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Favorite Futures: es,oil
Posts: 4 since Jul 2011
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Hey Big Mike & RM99 ,

Thanks for your answers & imputs - i know what imply a overnight position (gaps,margins,etc.) but thanks again .
Please excuse my poor english (if I wasn't crystal clear) , I just wanted ( and still want) to know which broker(or introducing broker) -IF there is any - offer the MCL & MBZ .
And i just wondered how much can be a RT and margins for this kind of micro contract .
Anyway , CME and some brokers offer some micro contracts with decents volumes , like micro gold for exemple-yeah gold is shining nowadays...

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  #23 (permalink)
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Posts: 2 since Jun 2010
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Hi, everyone i find this thread particularly useful. I have been working on a method: typically with a stop loss of 5-10ticks and same, sometimes more for Profit. Since i have not traded in a real account environment, am worried about the slippages discussed here. On sim trades, its a perfect scenario for me.

Would appreciate any advice


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  #24 (permalink)
Elite Member
Dartmouth NS
Futures Experience: Intermediate
Platform: MC, MC.Net, NT, TWS
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At the risk of necro posting am about to start trading CL real money so want to add IB apparently wants something pushing $5000 per contract for margin. Not an issue, just an observation. Opinion welcome.

ETA: my bad--turns out that must be the overnight margin. Otherwise it's $2600.

Last edited by bnichols; April 10th, 2013 at 01:53 PM.
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