Sorry for making this crazy title
recently came to know few crude oil traders in US , they lost their account (around $ 10000) while shorting crude oil last week and it moved up from $ 44 to $ 48. actually they added contracts on rise and lost the account and crude oil is back to $ 44.
felt bad and tried to google about crude oil contracts/margin in Fx brokers.
1) some trade in nymex crude oil future WTI ,
1 lot is of 1000 BBL , and margin money is $ 4600 , so if crude rises 1$ you are gaining/losing $ 1000 per contract.
with $ 10000 you can buy maximum 2 contracts.
2) some trade in crude oil CFD
there are various brokers where you can trade with oil CFD , where lot size is less and margin is also low,
I donot know what is standard lot size in these and what is the margin per lot and how much you gain with 1$ movement in crude.
3) some trade in ETF , dont know much about these crude oil ETF etc.
hope you will shed more light on this topic.
recently came to know few crude oil traders in US , they lost their account (around $ 10000) while shorting crude oil last week and it moved up from $ 44 to $ 48. actually they added contracts on rise and lost the account and crude oil is back to $ 44.
felt bad and tried to google about crude oil contracts/margin in Fx brokers.
1) some trade in nymex crude oil future WTI ,
1 lot is of 1000 BBL , and margin money is $ 4600 , so if crude rises 1$ you are gaining/losing $ 1000 per contract.
with $ 10000 you can buy maximum 2 contracts.
2) some trade in crude oil CFD
there are various brokers where you can trade with oil CFD , where lot size is less and margin is also low,
I donot know what is standard lot size in these and what is the margin per lot and how much you gain with 1$ movement in crude.
3) some trade in ETF , dont know much about these crude oil ETF etc.
hope you will shed more light on this topic.