Day Trading & Forex Forum

Spamula

Hi Guys new to commodity traiding, but I have day traded before what is the best low cost way to trade oil my paper trading has been going good:

I have a few questions:

How much capital do I need to trade CLZ front month, I have an IB account?

CLZ is $1000 a point which isn't cheap to start off, is there an emini I can trade via IB for $100 a point?

To trade USO daily do I need a pattern day trader account i.e. $25k?

I have an IG index account but not keen on the spread or is this minimal?

Please help me find the most suitable method to day trade oil for around $100 a point (not pip) with say $10k capital

Regards

£10kLoser

I trade it with IG but the spread is bad. I aslo trade it with Capital Spreads where the spread is a fixed 6 pips. I would suggest if you want to trade for such a large amount, futuresbetting.com would be the best. As a point of interest, I take my trading signals off MetaTrader using CLX8 - spot price, even though I trade the future - I find the signals more reliable.

Spamula

Mmm, how much does it cost to trade CL or QM for 1 contract? i.e. commission costs is it around $1.50?

For QM whats the minimum amount of money I will need in my IB account?

£10kLoser

Why are you asking us? This information must be on their website or pdf guides. In the unlikely event that it is not, just ask them. If you haven't got what it takes to find this out for yourself you're going to have difficulty making a profit!

Spamula

Sorry loser thought I'd ask, I couldn't be bothered to deal with IB support at this stage as just testing the waters. thought someone would be kind enough to post back instead of giving sh!tty comments.

As the old saying goes if u have nothing nice to say don't say it.

daralls

Hi Guys, new to forums, looking forward to learning alot

daralls

I am looking for advice on spread trading. I am looking to a Call Option for Febuary Oil.What should I be looking for in terms of upfront money, comissions,