Problem with roll-over of CL 06-10 to CL 07-10 - Reviews of Brokers and Data Feeds | futures io social day trading
futures io futures trading


Problem with roll-over of CL 06-10 to CL 07-10
Updated: Views / Replies:3,706 / 15
Created: by jharthun Attachments:0

Welcome to futures io.

(If you already have an account, login at the top of the page)

futures io is the largest futures trading community on the planet, with over 90,000 members. At futures io, our goal has always been and always will be to create a friendly, positive, forward-thinking community where members can openly share and discuss everything the world of trading has to offer. The community is one of the friendliest you will find on any subject, with members going out of their way to help others. Some of the primary differences between futures io and other trading sites revolve around the standards of our community. Those standards include a code of conduct for our members, as well as extremely high standards that govern which partners we do business with, and which products or services we recommend to our members.

At futures io, our focus is on quality education. No hype, gimmicks, or secret sauce. The truth is: trading is hard. To succeed, you need to surround yourself with the right support system, educational content, and trading mentors – all of which you can find on futures io, utilizing our social trading environment.

With futures io, you can find honest trading reviews on brokers, trading rooms, indicator packages, trading strategies, and much more. Our trading review process is highly moderated to ensure that only genuine users are allowed, so you don’t need to worry about fake reviews.

We are fundamentally different than most other trading sites:
  • We are here to help. Just let us know what you need.
  • We work extremely hard to keep things positive in our community.
  • We do not tolerate rude behavior, trolling, or vendors advertising in posts.
  • We firmly believe in and encourage sharing. The holy grail is within you, we can help you find it.
  • We expect our members to participate and become a part of the community. Help yourself by helping others.

You'll need to register in order to view the content of the threads and start contributing to our community.  It's free and simple.

-- Big Mike, Site Administrator

Reply
 
Thread Tools Search this Thread
 

Problem with roll-over of CL 06-10 to CL 07-10

  #11 (permalink)
Elite Member
Tucson, AZ
 
Futures Experience: Intermediate
Platform: Ninjatrader
Broker/Data: Mirus/Zen-Fire
Favorite Futures: CL, TF
 
LostTrader's Avatar
 
Posts: 74 since Sep 2009
Thanks: 21 given, 62 received

CL Product Dates & Volumes

If it helps, I look up dates for CL here:
Light Sweet Crude Oil

You do NOT want to be trading front month on the Settlement Day!! A Good broker will give you a call if you are still trading it the day before, but hopefully you would notice the volume has gone...

I also use this site to check front month volume levels to decide when to switch each month:
Light Sweet Crude Oil

Reply With Quote
The following user says Thank You to LostTrader for this post:
 
  #12 (permalink)
Elite Member
Berlin, Europe
 
Futures Experience: Advanced
Platform: NinjaTrader, MultiCharts
Broker/Data: Interactive Brokers
Favorite Futures: Keyboard
 
Fat Tails's Avatar
 
Posts: 9,653 since Mar 2010
Thanks: 4,226 given, 25,602 received
Forum Reputation: Legendary

Brokers usually follow rules and will close out your position days or hours before first notice (long position) or last trading (short position). Last trading day is too late for CL to roll. As it is a commodity with physical supply and demand (unlike financials or gold), the old contract is heavily influenced by the cash market. Positions have to be delivered to the middle of nowhere (Cushing, Oklahoma), and delivery constraints can increase volatility of the old contract. Need to roll at least 3 days prior to last trading.

As a rule of thumb you would roll around the 18th/19th, during the last years it always fell within the period from 15th to 21st of a month. So nex roll date for CL 08-10 will be around June, 18.


LostTrader View Post
If it helps, I look up dates for CL here:
Light Sweet Crude Oil

You do NOT want to be trading front month on the Settlement Day!! A Good broker will give you a call if you are still trading it the day before, but hopefully you would notice the volume has gone...

I also use this site to check front month volume levels to decide when to switch each month:
Light Sweet Crude Oil


Reply With Quote
 
  #13 (permalink)
Elite Member
Tucson, AZ
 
Futures Experience: Intermediate
Platform: Ninjatrader
Broker/Data: Mirus/Zen-Fire
Favorite Futures: CL, TF
 
LostTrader's Avatar
 
Posts: 74 since Sep 2009
Thanks: 21 given, 62 received



Fat Tails View Post
As a rule of thumb you would roll around the 18th/19th, during the last years it always fell within the period from 15th to 21st of a month. So next roll date for CL 08-10 will be around June, 18.

As a rule of thumb, you would roll when larger volume rolls from the July to the Aug contract. I used to associate that with the equity options expiration but have since learned better.

Do you really believe trading volume will be greater on the Aug contract next Friday?
Or do you actually roll regardless of volume?

Reply With Quote
 
  #14 (permalink)
Site Administrator
Manta, Ecuador
 
Futures Experience: Advanced
Platform: My own custom solution
Favorite Futures: E-mini ES S&P 500
 
Big Mike's Avatar
 
Posts: 46,240 since Jun 2009
Thanks: 29,354 given, 83,237 received

I've said before, the third Thursday is usually very near the exact time when volume overtakes from one contract to another, and you switch.

For me, it doesn't have to be an exact science. I don't switch contracts in the middle of the day the moment volume takes over. If I am a day off, the world is not going to end. So, I use the third Thursday rule more or less and just make it consistent.

Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
6)
Help using the forum? Watch this video to learn general tips on using the site.

If you want
to support our community, become an Elite Member.

Reply With Quote
 
  #15 (permalink)
Elite Member
Berlin, Europe
 
Futures Experience: Advanced
Platform: NinjaTrader, MultiCharts
Broker/Data: Interactive Brokers
Favorite Futures: Keyboard
 
Fat Tails's Avatar
 
Posts: 9,653 since Mar 2010
Thanks: 4,226 given, 25,602 received
Forum Reputation: Legendary

Last trading day for the July contract is Tuesday, June 22. So probably volume will shift on Thursday, June 17. Agree with Mike, this is no science. For commodity futures there are no specific rollover dates. Volume cross-over depends on the cash market.



LostTrader View Post
As a rule of thumb, you would roll when larger volume rolls from the July to the Aug contract. I used to associate that with the equity options expiration but have since learned better.

Do you really believe trading volume will be greater on the Aug contract next Friday?
Or do you actually roll regardless of volume?


Reply With Quote
 
  #16 (permalink)
Elite Member
Tucson, AZ
 
Futures Experience: Intermediate
Platform: Ninjatrader
Broker/Data: Mirus/Zen-Fire
Favorite Futures: CL, TF
 
LostTrader's Avatar
 
Posts: 74 since Sep 2009
Thanks: 21 given, 62 received

Oh, I agree it isn't science. Just common sense and looking at the data.

Reply With Quote

Reply



futures io > > > > Problem with roll-over of CL 06-10 to CL 07-10

Thread Tools Search this Thread
Search this Thread:

Advanced Search



Upcoming Webinars and Events (4:30PM ET unless noted)

Jigsaw Trading: TBA

Elite only

FuturesTrader71: TBA

Elite only

NinjaTrader: TBA

Jan 18

RandBots: TBA

Jan 23

GFF Brokers & CME Group: Futures & Bitcoin

Elite only

Adam Grimes: TBA

Elite only

Ran Aroussi: TBA

Elite only
     

Similar Threads
Thread Thread Starter Forum Replies Last Post
CL 09-10.Binary.dat tick data wanted davidfa The Elite Circle 4 October 18th, 2016 03:10 PM
10% per day, no way sysot1t Psychology and Money Management 87 November 20th, 2013 01:53 PM
3 10 macd and the TF iagainsti Trading Journals 18 January 16th, 2011 02:54 PM
Rgr 3/10 osc roadshow NinjaTrader Programming 3 July 15th, 2009 09:22 AM


All times are GMT -4. The time now is 02:24 AM.

Copyright © 2017 by futures io, s.a., Av Ricardo J. Alfaro, Century Tower, Panama, +507 833-9432, info@futures.io
All information is for educational use only and is not investment advice.
There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
no new posts
Page generated 2017-12-17 in 0.10 seconds with 31 queries on phoenix via your IP 54.82.56.95