2020-04-20 14_39_48-Crude Oil Futures Quotes - CME Group

Interesting that trading futures can be a very VERY risky business. Obviously this does not represent the price of oil, WTI, which is still around $20/b but it does illustrate the risk of playing with this stuff if you do not understand it. The first time I “did” oil futures I did not realize the contract was for 1000 barrels at a shot! Nor did my client. I ended up absorbing the trade in my own account (technically a no- no) but fortunately it did not cost me much..

Anyway if you were bullish on this stuff and bought your first 2 lot on Trumps advice, at say $25, you are now in the whole about $60, that is 2x $60,000 or $120,000.  thank you. I am sure few people contemplated this reality. More on futures later.