What are the contract specifications for crude oil mini trading on MCX?
In the commodity market, MCX offers crude oil mini as one of the tradable commodities. The contract specifications for crude oil mini on MCX provide important information about the contract size, trading hours, delivery months, and other essential details that traders need to know.
Contract Specifications for Crude Oil Mini
The contract specifications for crude oil mini on MCX are as follows:
- Contract Size: The contract size for crude oil mini is 10 barrels of crude oil.
- Underlying Commodity: The underlying commodity of crude oil mini is crude oil.
- Price Quote: The price quote for crude oil mini is in Indian Rupees (INR) per barrel.
- Trading Hours: The trading hours for crude oil mini are from Monday to Friday, from 10:00 AM to 11:30 PM.
- Delivery Months: The delivery months for crude oil mini are January, February, March, April, May, June, July, August, September, October, November, and December.
- Final Settlement Price: The final settlement price for crude oil mini is based on the average of the spot prices of the last three days of the contract expiry month.
How to Trade Crude Oil Mini on MCX
To trade crude oil mini on MCX, follow these steps:
- Open a Trading Account: Open a trading account with a registered broker that provides access to MCX.
- Learn Market Basics: Familiarize yourself with the basics of commodity trading and understand the factors that influence the price of crude oil.
- Place Orders: Use the trading platform provided by your broker to place buy or sell orders for crude oil mini contracts.
- Monitor Market Conditions: Keep track of market news and developments that can impact the price of crude oil.
- Manage Risk: Implement risk management strategies like setting stop-loss orders and avoiding overleveraging to protect your trading capital.
Conclusion
Trading crude oil mini on MCX provides an opportunity for investors and traders to participate in the commodity market. Understanding the contract specifications and following the necessary steps to trade can help individuals make informed trading decisions. By staying updated with market conditions and managing risk effectively, traders can maximize their chances of success in crude oil mini trading on MCX.
By Astrobulls research pvt ltd