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What is the best time to trade CL?
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What is the best time to trade CL?

  #11 (permalink)
Trading Apprentice
norwalk california
 
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trading question

Hi ,

I'm moving to Norwalk , California . as a Permanent Resident in December . I have a couple of questions to ask as I 've noticed you are based in California.

- What company you are using to trade fx, and commodities ?
- Are you receiving 1099 from this company for IRS requirement ?
- Are you require to declare your profits to IRS ? How about Losses ? and your Investment ?
- If you have less margin in your account , does your trade automatically shuts down ...I have used FXCM before and seems this is the case...please advise me which company and platform you are using so I can try them also .

Since you are in California , what time of the day or night the most volatility for FX and commodities ?
Please email me back here :kit_del_rosario@yahoo.com


Kind Regards.

Francisco

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  #12 (permalink)
Elite Member
West Branch, Mi, USA
 
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shodson View Post
Currently I only trade CL during the last 15mins because it is the most volatile period, except for when inventory reports are released, which is a dangerous time to trade because of slippage.

Attached is a study I did last year. I queried my SQL database for the 1000 largest 1min moves in CL and got this. NOTE: I am in California so CL RTH for me is 6:00am - 11:30am

I posted about it here...

https://futures.io/elite-trading-journals/14717-shodson-s-automated-trading-journal-5.html#post288955

Hi Shodson,

I currently trade the NQ. I've never traded CL, so please excuse me if the first question sounds a bit ignorant.

They say CL hours are 6pm - 5:15pm EST. Why do you refer to the close being 2:30pm EST?

Secondly, I'd like to know if you use a set stop, and if so, how many ticks?

Thanks,
Rockford

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  #13 (permalink)
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Rockford View Post
Hi Shodson,

I currently trade the NQ. I've never traded CL, so please excuse me if the first question sounds a bit ignorant.

They say CL hours are 6pm - 5:15pm EST. Why do you refer to the close being 2:30pm EST?

Secondly, I'd like to know if you use a set stop, and if so, how many ticks?

Thanks,
Rockford

1) That's the former "pit session" hours, referred to as "regular trading hours" or RTH, and is still when the most volume occurs.

2) I don't use stops, I exit based on conditions

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  #14 (permalink)
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shodson View Post
1) That's the former "pit session" hours, referred to as "regular trading hours" or RTH, and is still when the most volume occurs.

2) I don't use stops, I exit based on conditions

Thanks for getting back with me Shodson.

Are you saying 2:30pm is the former pit session hours? So I understand, you're saying 6pm to 5:15pm are the RTH? Do you look at trading beyond 2:30pm not worth trading due to low volume?

Thanks for your time,
Rockford

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  #15 (permalink)
 Vendor: www.probabletrades.com 
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Some of my systems trade CL 24/5. Others only trade in RTH, which is 9am to 2:30pm EASTERN time.

And like others have already said in this thread.

1) Trade the times that have the most volume (look at several charts)
2) Trade the times that work best for you

It doesn't really matter to you what times I trade them, it has to work for you. I know that's not the answer you want to hear but eventually, if you stick with it long enough, you'll come to realize that is the right answer.



Rockford View Post
Thanks for getting back with me Shodson.

Are you saying 2:30pm is the former pit session hours? So I understand, you're saying 6pm to 5:15pm are the RTH? Do you look at trading beyond 2:30pm not worth trading due to low volume?

Thanks for your time,
Rockford


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  #16 (permalink)
Elite Member
West Branch, Mi, USA
 
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shodson View Post
Some of my systems trade CL 24/5. Others only trade in RTH, which is 9am to 2:30pm EASTERN time.

And like others have already said in this thread.

1) Trade the times that have the most volume (look at several charts)
2) Trade the times that work best for you

It doesn't really matter to you what times I trade them, it has to work for you. I know that's not the answer you want to hear but eventually, if you stick with it long enough, you'll come to realize that is the right answer.

Yes it does matter to me what times you trade CL, that's why I ask you.

Thanks for answering.

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  #17 (permalink)
Trading Apprentice
New York City
 
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Answer
This post has been selected as an answer to the original posters question Answer

In my opinion, I think the best time to trade crude oil futures is from 8am to noon central time. I think it usually provides for enough moves, and these are the times I see with the most active volume.

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  #18 (permalink)
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Ibiza. Spain
 
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Rockford View Post
Yes it does matter to me what times you trade CL, that's why I ask you.

Thanks for answering.

Hi guys,

My good time trading CL is 8:30h to 10:30h CST, perfect volatility, not to extreme, not too slow...

So, about this question, does your broker ask you for high margin overnight with CL? So, it does matter, because with a small account you need to close positions to be in the market for the next day or a few hours ahead... isn't?


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  #19 (permalink)
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Darwin
 
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Beljevina View Post
The start of the London session can be some of the simplest and potentially profitable CL trading IMHO; although volume is quite light, liquidity is not a problem and spreads and fills are just like during NY. Quite often, there's a tendency for CL to mark a top or bottom for the freshly developing day around the 3am EST period (which is when FTSE/LSE trading starts); quite often, this involves the S/R of the still fresh daily developing VWAP; sometimes this occurs right at 2:45am EST, sometimes 3:15 or 3:45, as european equities have or are figuring out where they are going.

Correlation sometimes is present, other times CL does it's own thing, kind of based on what it did in the previous NY session. The London open and NY midnight open - as well as those same times from previous days - can be invaluable I find - this is what the BabyBlueLine indi is all about - check how frequently those levels serve to hold. I have the 1am to 6am EST period color marked on a 3-min chart, so you can scroll back through days of history and see what it tends to do over that time period; IMO London fairly often reverses/retraces what the NY session just did - that is a nice gift, when you can identify it. Again, developing VWAP is key I find and serves as fairly high reliabile S/R, at least for scalps, and often allows runners to be established; obviously watching for VWAP to be taken is important - I monitor flows via VVAggregatedTS + the GOM volume footprint charts.

Often during the London session, there is a tendency for a trend of at least 60cents and even a $1 of price movement to be established, which is already decent profits.

And, when the moves during London are on the larger range side, the dilemma posed by the start of NY or pit session trading is then dealing with things like whether London highs/lows will be tested, which often by definition are that 60c-$1 away. Along with the significantly heavier big boys volume, the NY moves of course can be quick and trapping - those 2 traits are very rare during London CL session, thus it is 'safer.'

The other big challenge I find with starting trading CL during NY is that if a good deal or more of the ADR has been covered, it is hard to judge which way and how much more ground is possible to cover in NY. Also, CL during London is more 'normal' and kinder; CL during NY is where moves can be of the rip-your-head off variety, and, too often when one occurs, it can be costly as big boys do their thing to the little guys - that essentially never happens during London. Hope that is of some help.

I must agree, this also my favorite time to trade the CL...on a regular basis collecting between 20 and 30 ticks.

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  #20 (permalink)
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More and more the ranges in mid to late european session are ideal. CL pit session ranges have been drying up for years unfortunately.

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