Jump to content

How much will petrol/gasoline cost next winter?


Recommended Posts

 Quote:
Originally posted by Kintaro:
I'm not against capitalizing on the price of oil...any one else seeing some profits from the current environment?
Yes, as part of my personal program trading I bought three NYMEX sweet light crude contracts (futures) around $50. If you know the big point value of a CL contract then you know my approximate open profit.

I also own natural gas, heating oil and unleaded gasoline contracts.

I recommend that you all try to profit from what is going to be the biggest event in decades.
Link to post
Share on other sites
 Quote:
Originally posted by sava:
How can you buy 3 contracts?

Most places (at least in australia) require you to invest a minimum of $25,000 ?
Hi Sava, I am not sure what you mean. It is perfectly possible to buy/sell "only" three contracts. Three contract of crude is actually quite a lot if you look at the dollar value of a typical day's range. I currently have open trades in 50 different commodity markets with the largest position being 7 contracts (of sugar). Nearly all my positions are 1 or 2 contracts. Among other activities, I day trade the S&P full contract using two different systems and my broker is instructed to only ever trade 1 lot for each system. Be assured that 1 lot trades are very possible.

Perhaps you mean that to open a futures brokerage account (in Australia) you need to deposit $25,000? Given margin requirements this seems quite possible. A trader using $25,000 to trade long term positions in crude futures is going to have a very high probability of ruin if they 'only' have 25k trading capital.

BTW, there is a way to directly speculate on the price of crude without using futures or the capitalisation required. Check out UK based spread betting houses.
Link to post
Share on other sites
×
×
  • Create New...