Welcome to NexusFi: the best trading community on the planet, with over 150,000 members Sign Up Now for Free
Genuine reviews from real traders, not fake reviews from stealth vendors
Quality education from leading professional traders
We are a friendly, helpful, and positive community
We do not tolerate rude behavior, trolling, or vendors advertising in posts
We are here to help, just let us know what you need
You'll need to register in order to view the content of the threads and start contributing to our community. It's free for basic access, or support us by becoming an Elite Member -- see if you qualify for a discount below.
-- Big Mike, Site Administrator
(If you already have an account, login at the top of the page)
Hello,
would like to know if some is swing trading crude oil.
Or are MCL and CL only good for scalping and day trading?
I have some experiences in trading ES and NQ but never traded commodities before.
Can you help answer these questions from other members on NexusFi?
Thanks for your reply.
I would start with MCL since the tickvalue is 1 and not 10. 1 point change in CL means $1000 thatīs too much for me to handle.
My problem is that i donīt exactly know which platform i should use for swing trading. I have an IBaccount also can use TOS.
I could make my analysis on TOS and execute trades on IB. I used Sierrachart before but canīt assess if this would give me any advantage because
I donīt intend to scalp or to use orderflow.
Even MCL has swings right now that should scare you. Just since the beginning of March, if you were long 1 MCL, you have had to endure:
4 up days with $500 or larger profit (including 1 day over $1K)
2 down days with $500 or larger loss (including 1 day over $1500 loss, and today over $700 loss)
It has been a wild ride these past few weeks.
For platform, I guess it depends on what exactly you are doing analysis wise. I would think the biggest is problem is how to trade MCL, more than how to execute those trades.
Antares66
Berlin+Germany
Posts: 58 since Jan 2020
Thanks Given: 8
Thanks Received: 41
You are absolutely right. Itīs scaring. Every news on the situation in ukraine has a direct impact on the market.
Do you hold your positions over night?
I mean not only CL is scaring these days, also ES, NQ. If you donīt want to watch the screens all day you have to programm an algo like you did or you have to set very tight stops.
I also could trade SPX options on expiration day what offers sometimes more gains than trading ES. But you have the big spreads and time decay to watch. This is not easy.
I actually have pretty big stops - small stops will likely only help in getting you stopped out. But big stops are dangerous too.
Nothing in trading is what I'd call easy, that is for sure!
Antares66
Berlin+Germany
Posts: 58 since Jan 2020
Thanks Given: 8
Thanks Received: 41
You are absolutely right. Itīs scaring. Every news on the situation in ukraine has a direct impact on the market.
Do you hold your positions over night?
I mean not only CL is scaring these days, also ES, NQ. If you donīt want to watch the screens all day you have to programm an algo like you did or you have to set very tight stops.
I also could trade SPX options on expiration day what offers sometimes more gains than trading ES. But you have the big spreads and time decay to watch. This is not easy.