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CL Advice on liquidity before 8:30 AM Central time?
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CL Advice on liquidity before 8:30 AM Central time?

  #1 (permalink)
Elite Member
Austin, TX
 
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CL Advice on liquidity before 8:30 AM Central time?

I auto trade CL starting at 8:30 AM Central successfully but have been looking at at turning my strategies on earlier. I have been backtesting starting at 6:00 AM and have good results. From just looking at volumes on chart looks like CL has decent volume that early. But not having actually traded it I was hoping to get some feedback on is there enough depth in market to trade CL earlier?

Specifically any one who trades it do you notice much difference in your fills on entry and exit than the US regular session? Any comments observations appreciated.

"The day I became a winning trader was the day it became boring. Daily losses no longer bother me and daily wins no longer excited me. Took years of pain and busting a few accounts before finally got my mind right. I survived the darkness within and now just chillax and let my black box do the work."
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  #3 (permalink)
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liquidcci View Post
I auto trade CL starting at 8:30 AM Central successfully but have been looking at at turning my strategies on earlier. I have been backtesting starting at 6:00 AM and have good results. From just looking at volumes on chart looks like CL has decent volume that early. But not having actually traded it I was hoping to get some feedback on is there enough depth in market to trade CL earlier?

Specifically any one who trades it do you notice much difference in your fills on entry and exit than the US regular session? Any comments observations appreciated.

liquid - its very event driven prior to 8 am cst. When there is a release at 7:30 cst there is often better liquidity leading up to the release and after. Also (and I don't have a feel for which ones), when there is news during the european trading day it can lead to higher volatility after 6 am cst. In short, to me it seems quite dependent on news. Hope that helps although I'm probably not telling you anything you don't already know .

Seek freedom and become captive of your desires. Seek discipline and find your liberty. - Frank Herbert
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  #4 (permalink)
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Surly View Post
liquid - its very event driven prior to 8 am cst. When there is a release at 7:30 cst there is often better liquidity leading up to the release and after. Also (and I don't have a feel for which ones), when there is news during the european trading day it can lead to higher volatility after 6 am cst. In short, to me it seems quite dependent on news. Hope that helps although I'm probably not telling you anything you don't already know .

@Surly thanks for the comments. That is my perception as well. Being news driven gives me some reservations about trading it but my results are good enough to make me take a hard look. Seems as of late on CL at least a lot of the movement is happening pre US market regular open Then once market opens it just kind of trades around where it moved earlier. That is what caused me to start taking a look at turning my bot loose earlier.

"The day I became a winning trader was the day it became boring. Daily losses no longer bother me and daily wins no longer excited me. Took years of pain and busting a few accounts before finally got my mind right. I survived the darkness within and now just chillax and let my black box do the work."
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  #5 (permalink)
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I trade CL most days starting at 8am EST, ie 7am CST. Regarding volume I wait 15min VOLMA being about 100 before entering any trades. After pit open 15min VOLMA is typically 300 -500 , so there is a difference, but as Surly said volume ramps up pretty quick also earlier in the morning if there are meaningful news event at 8:30am EST.
I trade 1-2 contracts and trades between 8-9am EST fill ok.

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  #6 (permalink)
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liquidcci View Post
@Surly thanks for the comments. That is my perception as well. Being news driven gives me some reservations about trading it but my results are good enough to make me take a hard look. Seems as of late on CL at least a lot of the movement is happening pre US market regular open Then once market opens it just kind of trades around where it moved earlier. That is what caused me to start taking a look at turning my bot loose earlier.

Understandable. Do let me know when you start trading with you bot in the pre-market because murphy's law will determine that that is when the intraday volatility will start coming back and the pre-market will be dead.

Seek freedom and become captive of your desires. Seek discipline and find your liberty. - Frank Herbert
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  #7 (permalink)
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Surly View Post
Understandable. Do let me know when you start trading with you bot in the pre-market because murphy's law will determine that that is when the intraday volatility will start coming back and the pre-market will be dead.

@Surly even better you can take opposite my positions and probably get rich

"The day I became a winning trader was the day it became boring. Daily losses no longer bother me and daily wins no longer excited me. Took years of pain and busting a few accounts before finally got my mind right. I survived the darkness within and now just chillax and let my black box do the work."
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  #8 (permalink)
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liquidcci View Post
I auto trade CL starting at 8:30 AM Central successfully but have been looking at at turning my strategies on earlier. I have been backtesting starting at 6:00 AM and have good results. From just looking at volumes on chart looks like CL has decent volume that early. But not having actually traded it I was hoping to get some feedback on is there enough depth in market to trade CL earlier?

Specifically any one who trades it do you notice much difference in your fills on entry and exit than the US regular session? Any comments observations appreciated.

I trade CL daily (or at least watch it daily depending on my position) and generally 2 hours before the floor opens (Nymex) the volatility picks up noticeably. I don't notice any difference in fills between that time and regular hours. (During the overnight spreads in CL futures are a little wider; spreads in the options are much wider at night)

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  #9 (permalink)
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liquidcci View Post
@SurlyBeing news driven gives me some reservations about trading

Protect yourself with options. I can't stress it enough

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  #10 (permalink)
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mwtzzz View Post
Protect yourself with options. I can't stress it enough

I am in and out so quick options to expensive and not really necessary. If I held overnight I would use some type of offsetting position with options.

"The day I became a winning trader was the day it became boring. Daily losses no longer bother me and daily wins no longer excited me. Took years of pain and busting a few accounts before finally got my mind right. I survived the darkness within and now just chillax and let my black box do the work."
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