Anyone who trades WTI-Brent spread ..who do you use ?

[grantx]

Wasp,

TT uses Arbitrageur.

Grant.

 

[DC STOXX]

Wasp,

TT uses Arbitrageur.

Grant.

LMAO at that quote & at the guy who has traded for ten years and didn't know people trade spreads

TT is not cheap though, furthermore to create your own spreads in the TT auto spreader requires you to have TT pro, which costs even more money. I'm not cant quote figures because i honestly don't know how much it costs, buts its not a cheap alternative

 

[grantx]

Black,

TT isn't cheap but there is also variation between what is charged, eg £420 and £600 (howevr, this could actually refer to X-Trader and X-Trader Pro but it wasn't made clear with my enquiries). £420 (which is basically the cost price) seems standard. Some US outfits don't charge but you get hit on the comm's.

Grant.

 

[gonnamakeit]

TT 's X Trader is free for use on one exchange by velocity futures....its free as the round trip fee is muchhigher then paying $500 per month

so does that mean if i only want access to ICE and ICe have the spread i am looking for then its free to use apart from commisions ??

Thanks

 

[grantx]

Yes,

If the broker also offers access to ICE. But given the relatively low returns of a spread, the higher comm's will probably leave you with little or anything.

Grant.

 

[DT]

If the broker also offers access to ICE. But given the relatively low returns of a spread, the higher comm's will probably leave you with little or anything.

I'm guessing you've never looked at this spread before - there can be some fairly big moves.

 

[grantx]

DT,

That's the problem with knowing only half the story. My judgement was based on Eurex STIRS (which is probably also flawed).

Thanks for the correction.

Grant..

 

[gonnamakeit]

thanks for all..im trying to sort it out as we speak..

i also need access to the charts for 1) brent crude june and july 2) wti june and july....

anyone know where i can get this for free....rather than paying for a charting company..thanks

 

[bigba]

Futuresource used to provide custom spread charts for free. Only downside was the 15min delayed feed. You can specify months for the contracts.

Can anyone recommend a trading house for ICE contracts? Thanks.

 

[gonnamakeit]

Velocity Futures do...but they are very new to ICE so many teething problems to begin with, but its all happening

Im still looking for a decent place i can get the chart wti-brent spread chart live.

Any ideas ?

 

[gedward3]

Gonna,

Try this link to Openecry. They offer the spread your looking for and many other's but you may have to leg into eash position of the spread individually although im not sure.
$2000 to open an account and they offer live charts also.

Al the best

Online Futures Trading - Open E Cry ™ Margin Requirements

Velocity Futures do...but they are very new to ICE so many teething problems to begin with, but its all happening

Im still looking for a decent place i can get the chart wti-brent spread chart live.

Any ideas ?

 

[bigba]

I went to Futuresource and got the delayed chart for you, as its a fiddle with the codes:
futuresource.com | Futures & Commodities Custom Micro Charts
I think Esignal may provide economical live charting.

The possible reason you cant see the WTI Brent spread is because ICE uses algorithms to get the legs executed in the outrights. This algo will give away some edge to traders working outrights to guarantee the spread doesnt get legged up. This means your brokerage fee is in effect higher. Which means for an intraday trader, better to either use an auto spreader, or write an algorithm yourself with IB's API.

If you dont care about brokerage/vig yet, you are automatically making the odds of success worse.

Have you traded successfully previously? Oil does look sexy. The trouble is that 1 contract is like 10 bunds. Maybe cut your teeth on a calmer market. Your aim is to make money, not get thrills, right?

 

[de_cooky]

WTI Brent spread is quoted on ICE , its quite liquid and has so far been profitable to me.I work for a prop shop ,so wont be able to help you find a broker for the job but futuresource ..yes you can plot the wti brent spread on it

 

[gonnamakeit]

thanks for your post

a couple of questions

1) could you give me an insight in how to trade the spread..what do you look for etc ect for entry and exit points ?? if you wouldnt mind
2) i could not get a live chart on futuresource.com/..how r u doing it ?
3) what software are you using for the spread...

thanks in advance dude

 

[de_cooky]

No ,I am not doing it on futuresource.com..We get their high end application software..which ofcourse is paid..I dont think they would provide all the utilities on their website..I generally trade wti brent on noise which is very very high these days..I use candle charts and technical signals provided by them and generally book small profits during noisy periods..As I keep doing it all day it ads up to decent amount..Many people trade it this way ..hence competition is there but so is opportunity..it is a very confused spread and moves at lot in both direction..I trade it on TT. The ladder does the job well

thanks for your post

a couple of questions

1) could you give me an insight in how to trade the spread..what do you look for etc ect for entry and exit points ?? if you wouldnt mind
2) i could not get a live chart on futuresource.com/..how r u doing it ?
3) what software are you using for the spread...

thanks in advance dude

 

[pikemaster]

If you are in the UK then spread betting is the ONLY option and with lots of firms out there the margins are getting tighter and tighter, like 3 pip spread on ROLLING CABLE with finspreads for example. With no tax to pay there really is no other option
I know the US is in the dark ages abit when compared to UK in what we have to offer but if you can get access the spread betting firms are the way to trade ( or gamble as its all the same really..you are risking money to try and win more money..its just sounds better if you are a trader!)

 

[gonnamakeit]

thanks is anyone willing to discuss different stratergies on how they trade the spread.
ie - indicators they use etc.,....thanks

 

[bigba]

In general, it depends on your timeframe: longer term stuff you are going to need to understand fundamentals. Short term trading (5 mins and less, if its a good trade), you are going to have to understand news, technical analysis and flow, watching orders coming into the market. Identifying when a spread is ranging and when its trending is key. Typically, looking at bollinger bands: using a moving average as a poor man's regression. The bands are the standard deviation, an expression of how far it is from fair value. Fundamentals are also important in short time frames, but they can be affected by market position. For example, after a number, its possible to get profit taking sending the market in the opposite direction to what you would expect from fundamentals. Probably best to avoid trading over the inventory numbers, instead learning how irrational the moves can be. Rather than trying to knock the ball out of the park, calling an entire move, its better to have lots of little profits steadily building your P&L.

 

[welshandy1]

thanks is anyone willing to discuss different stratergies on how they trade the spread.
ie - indicators they use etc.,....thanks

Hey gonnamakeit,

for what its worth, Tradefair.com offer Brent Crude on ICE, and also charting software that is up-to-the minute (no delays) They ARE a market maker of course, as they set the bid, but to be fair there is no minimum bank to get in, so its a nice inexpensive way to go. Plus its tax-free of course.

For me, Im returning a shade over 56% profit, which isnt amazing, but it is steady, and makes a nice additional income.

Anyhow, just me 2 cents worth, no flames required

good luck with it! think its going to be an interesting week this week on Brent...

 

[mcglick]

You've probably figured it out by now, but in order to get this spread in IB you must leg in and be sure to use the ICE WTI contract (not NYMEX CL) if you want the margin discount. It's unfortunate most IB reps have no clue what they're talking about, and best to take what they tell you with grain of salt.