References:
https://t.me/spreadtradarbot Telegram Spread and Scalp Chat Paid Group.
www.MasterClassTrader.com/specials - Current discounts for coursework on Order Flow and Spreading.
-
The new ‘micro’ crude oil contract was listed this week on the CME. So far so good it seems.
About Micros
The micro is not a different style of futures contract from other futures. It simply refers to the contract size. They are smaller. The upside is smaller, downside is smaller, and comms are smaller.
Details:
- It is 1/10th of the regular size contract.
- It’s a 100 barrel contract (v 1000 barrels).
- For every dollar move in crude oil, the contract moves $100 ($1000 for the biggie).
- The tick size is 1 cent. That’s worth $1 ($10 for the big contract).
- The initial margin is $530.
Tips for traders:
OK, here are some ideas to get started or think about:
- Watch the full contract – both charts and DOM. Micro for execution only. The reason being is the big contract will is trading more often (for now). That means levels and other technical readings will be more reliable from the big contract.
- Work limit orders. There’s no need to pay up on the spread, but if you do it doesn’t matter given $1 per tick. While the market develops however, don’t feel the need to rush your execution.
- Watch deferred contracts as they develop (for spreading).
- Make sure your broker has reduced commissions for micros and SPAN margins.
Learn More About Scalping and Spreading?
Check my courses at MasterClassTrader.com. This market can be used in both the DOM Bootcamp and advanced spread course.
Check out the special page for a current bundled deal.
Also check out my new Telegram chat group subscription for spreader and scalps. The link is below. It’s a deliberately small group for active traders, all there talk about trades and help each other.
Coming up, well next month we have micros in the treasuries, which I think will be fantastic. We’ll talk more about it when they launch.
Until then, good trading.
GB
Popular Podcasts
On Purpose with Jay Shetty
I’m Jay Shetty host of On Purpose the worlds #1 Mental Health podcast and I’m so grateful you found us. I started this podcast 5 years ago to invite you into conversations and workshops that are designed to help make you happier, healthier and more healed. I believe that when you (yes you) feel seen, heard and understood you’re able to deal with relationship struggles, work challenges and life’s ups and downs with more ease and grace. I interview experts, celebrities, thought leaders and athletes so that we can grow our mindset, build better habits and uncover a side of them we’ve never seen before. New episodes every Monday and Friday. Your support means the world to me and I don’t take it for granted — click the follow button and leave a review to help us spread the love with On Purpose. I can’t wait for you to listen to your first or 500th episode!
Ruthie's Table 4
For more than 30 years The River Cafe in London, has been the home-from-home of artists, architects, designers, actors, collectors, writers, activists, and politicians. Michael Caine, Glenn Close, JJ Abrams, Steve McQueen, Victoria and David Beckham, and Lily Allen, are just some of the people who love to call The River Cafe home. On River Cafe Table 4, Rogers sits down with her customers—who have become friends—to talk about food memories. Table 4 explores how food impacts every aspect of our lives. “Foods is politics, food is cultural, food is how you express love, food is about your heritage, it defines who you and who you want to be,” says Rogers. Each week, Rogers invites her guest to reminisce about family suppers and first dates, what they cook, how they eat when performing, the restaurants they choose, and what food they seek when they need comfort. And to punctuate each episode of Table 4, guests such as Ralph Fiennes, Emily Blunt, and Alfonso Cuarón, read their favourite recipe from one of the best-selling River Cafe cookbooks. Table 4 itself, is situated near The River Cafe’s open kitchen, close to the bright pink wood-fired oven and next to the glossy yellow pass, where Ruthie oversees the restaurant. You are invited to take a seat at this intimate table and join the conversation. For more information, recipes, and ingredients, go to https://shoptherivercafe.co.uk/ Web: https://rivercafe.co.uk/ Instagram: www.instagram.com/therivercafelondon/ Facebook: https://en-gb.facebook.com/therivercafelondon/ For more podcasts from iHeartRadio, visit the iheartradio app, apple podcasts, or wherever you listen to your favorite shows. Learn more about your ad-choices at https://www.iheartpodcastnetwork.com
The Joe Rogan Experience
The official podcast of comedian Joe Rogan.