About CL
CL is WTI crude oil, 1,000 barrels per contract: every $0.01 move is worth $10 and a $1 move is $1,000. Supply news and inventories make it one of the most volatile futures.
Weekly inventory data (Wednesday, 10:30 New York time), OPEC decisions and geopolitical news.
How to size a CL position
Position size = risk in dollars ÷ (stop distance × value per unit). Example on a $100,000 account risking 1% ($1,000) with a 0.2 points stop: 5 contracts, which risks about $1,000.
The order panel has a built-in risk calculator: enter your % risk and your stop loss and it sizes the position for you.
Which challenge to trade CL?
Futures challenge: one evaluation with a 6% target, a trailing drawdown and a maximum number of contracts.
CL trading hours
CME Globex: Sunday 23:00 to Friday 22:00 UTC, with a daily maintenance break 22:00–23:00 UTC.