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Hey there, I do trade Crude but it is very slippery and you need to keep tight stop losses or else you will not find the time to get out. I trade with one or two or four contracts based on the market auction development.
Am looking to start trading oil. Here is a screenshot of the London session today 5 min chart. The blue line across the volume reading is 1000 contracts. Looks like you could do 2-5 contracts quite safely. EG
When I observe the DOM for CL during the first two hours of the London session, it's generally in multiples of 10 (i.e. two figures) at each tick level.
What I don't understand is what this translates to in terms of the average number of contracts a person could reliably daytrade/scalp during this time without incurring frequent slippage.
Hi Emmett,
I think that from 2-5 contracts would be fine, but obviously it's a bit more dodgy at 5 contracts.
I think the only way to find out is going to be to jump right in with 1 contract and go from there.
Also, in a fast market with those amounts of contracts then there will definitely be slippage I would think!
Am about to start trading oil so will keep you updated.
