Would like to trade oil, but ...

[Tim42]

Hi all, new member here. Having some success papertrading ICE Brent Oil, but it appears $1 price movement - $1000 contract move. That's a bit rich to get started; is there some other way to reduce leverage? Appreciate any advice.

 

[shadowninja]

Spreadbetting? Don't know if you can in the US.

 

[nunrgguy]

Spreadbetting? Don't know if you can in the US.

ETFS maybe - loil?

 

[shadowninja]

Ah, or CFDs?

 

[fifty2aces]

NYMEX have a mini crude future - I think it's about $500 per dollar move.

 

[Tim42]

Many thanks for the suggestions. Far as I know my broker (TS) doesn't do spreads but I'll check further. The ETFs are not nearly as good in fills as Futures. That's important when you scalping for 50-cent moves. I'll check out NYMEX on mini-crudes, any experience with volume there: are fills pretty good? What are CFD's? Thanks all!

 

[crudenorway]

OptionsXpress.eu states

Crude oil futures, New York Mercantile Exchange, trading symbol CL, Minimum Tick Size: $0.01 per barrel, worth $10.00 per contract.

 

[nunrgguy]

I agree, you can't really scalp ETFs - volume is generally low and getting a fill can take time. Didn't realise that was your strategy.

 

[£10kLoser]

FXPro do crude on MT4 with 0.1 contracts being $100 per dollar price change ($1 a pip) and requiring a $150 margin. Fills are spot on unless the market's gone mad.