Can someone recommend me a liquid CME Globex contract similar to CL in trading? - Traders Laboratory
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Old 01-26-2008, 03:35 PM
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This member is the original thread starter. Can someone recommend me a liquid CME Globex contract similar to CL in trading?

To make things brief, I'll only have access to CME Globex for intra-day soon, and I need to start investigating futures, solely for intra-day trading, and I've traded the ES for 1 month in the past but I didn't like it - it felt boxy.

Can someone recommend me anything similar in leverage and action to oil (CL) on this exchange? I understand that it won't be the same, but something close? Does anything exist that is highly liquid with high leverage, and available on the screen or side by side.

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Old 01-26-2008, 04:03 PM
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Re: Can someone recommend me a liquid CME Globex contract similar to CL in trading?

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similar in leverage and action to oil (CL) on this exchange?
Attached please find a chart on trading liquidity on futures. The closest CME instrument in terms of liquidity is ES; much further down are NQ and ER2. If you like CL and are good at it, there is really no reason to switch because of datafeed.
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File Type: png Trading Liquidity.png (377.4 KB, 54 views)

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Old 01-26-2008, 06:38 PM
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Re: Can someone recommend me a liquid CME Globex contract similar to CL in trading?

http://www.nymex.com/QM_spec.aspx

Depends on how much liquidity you are looking for. CL is by far the most liquid oil contract, but the QM is an option.

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Old 01-27-2008, 12:40 PM
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This member is the original thread starter. Re: Can someone recommend me a liquid CME Globex contract similar to CL in trading?

I'll only have access to GLOBEX, so I can't trade on any other exchange. So from what I see in your response for Globex - the order is:

ES
NQ
ER2

ES felt really boxy when I was trading on Tick charts. I tried to adjust and use different tick values, but it could never mimmic the way CL is. It also felt much slower than CL. In the oil maket you get these 'blasts' often. I also couldn't make much money trading ES straight for 1 month, like I could in the commodities. I guess what I'm trying to do is impossible - you can't replace one market with another and expect it to be the same.

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