#ForexChief #CME #WTI #OilFutures #ChicagoMercantileExchange #stock #traders⠀
⚠️ Quotes on the CME on the weekend: an unsuccessful market «joke»⠀
🛢️ If you are offered to trade oil on the CME on Saturday morning, everything is fine, you are not crazy. But it's still not worth it to open deals. On the morning of January 8, 2022, many curious traders saw suspicious activity in exchange terminals and a flow of quotations for WTI oil futures. And even trading volumes showed the usual dynamics!
⠀
Some beginners did not seriously delve into the situation and bought contracts, trying to capitalize on the active «fall in quotes» by almost $2 to $77.03-$77.20 (recall: Friday, 01/07/22 closed in zone $78.90-$79.20). However, on Sunday evening, at the standard New York market opening, these «successfully opened» positions disappeared from the terminals. Result on them did not affect the balance of deposits in any way.
⠀
Of course, real trading in commodity futures is not carried out during the official «non-market» time. This is a common technical situation: The Chicago Mercantile Exchange was testing its trading software after a recent update. No test transactions are cleared and do not affect placed orders or the normal settlement process.
⠀
Such experiments in non-trading time are quite common: it is assumed that experienced traders carefully study the conditions of trading and understand that the market was closed. But to increase the accuracy of the experiment, no special warnings are sent to the clients of exchange.
⠀
So be careful, otherwise, the market may surprise you unpleasantly.
⠀
Profits to y’all!