Crude Oil Futures Contract Specifications; tick value, margin requirements, round term commissions
Symbol: CL (CME)
Tick Value: .01
Cost/Tick: $10.00 usd
Margin: $1,500 usd/contract
Benefits: Large moves and Consistent Opportunities with little attention to news
Drawbacks: Beware times of low volume, gets ‘whippy’
Best Time to Trade: 3:00am – 2:00pm EST
Favorite Pattern: Failures, Pullbacks, Traps and Strength
Favorite Timeframes: 800-tick, 1000-volume, 5-minute
Crude Oil is one of my favorite markets to day trade because it gives me plenty of low risk, high percentage trading opportunities with low margin requirements and cheap access to this liquid market.
We use this market every day to find reliable trading opportunities, and its big ranges and volatility make it a fun market to trade.
Look for our first trade of day on crude oil futures around 800am EST, its an easy way to get your day off to a great start.
Here’s the direct link to the exchange: