US EIA Natural Gas Storage Change
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How to trade US EIA Natural Gas Storage Change
If the fact is higher than the forecast, then NG will fall and vice versa.
Gas and oil are traded on futures, respectively. If you have a desire to learn these instruments, you can look towards the futures market.
Of course, you can try to find a broker that provides CFD for gas and oil which Forex brokers can also dispose of, using search, for example.
#NG is a natural gas, traders often don’t understand what is this. What kind of pair it is, where to look for it, and whether it is possible to find similar tools in the terminals of Metatrader. Let's try to answer these and other questions.
So it is customary to designate fuel gas hydrocarbons (NG). NG is Natural Gas. This is the kind of symbol you should look for in your terminals in order to sell gas (directly, like real “big fellows” of the market).
First, it is worth noting that NG is primarily futures, and if you do not currently have access to the futures market, then it is worth looking for brokers who provide so-called CFDs (Contract For Difference) from the DC. This is hard to call it as an analogue, but still, to some extent, it is a “trading simulator” of hydrocarbons as well as “currency” within the dealing centers.
Gas in Metatrader
If we take the most popular terminal Metatrader, then to find hydrocarbons in it, we must go to the “Market Watch” window, click the right mouse button and choose the menu item “Show All”, if your broker supports gas or oil trading, the corresponding symbols appear in the list.
Note that the standard #NG will have additional characters, for example, like this "#NGJ" or this "#CLK". Additional symbols identify the expiration time of traded contracts.
So the termination of trading on the specified contracts will end:
- F - January
- G - February
- H - March
- J - April
- K - May
- M - June
- N - July
- Q - August
- U - September
- V - October
- X - November
- Z - December
As a rule, the DC relieves your headache and independently provides you with one trading tool, hiding the rest ones. But sometimes there is a situation when two designations are available, for example “#NGK and #NGM”. In this case, it is worth choosing a “fresher” contract (exaggerated). This is not so important for DC, but fundamentally for futures trading: where the trading volume is higher, there the chances to enter the market are higher (slippage is less).
Current volumes of hydrocarbons trading can be found on the specialized sites, for example, at the CME Group.
It is necessary to trade this tool with some caution. Here is its specific fundamental background and its specific “news”. Generally, in 95% of cases, providers deliver data on time, but it is worth to be careful, sometimes the data can be delayed: watch the movements before the release.
Since this is, to some extent, an “exotic” pair, then there is a chance of getting slippage because of the low liquidity. This is especially true for futures in the event that you choose the wrong contract for trading (old).
In regard with this, we always recommend gaining experience before the active phase of hydrocarbon trading. Summer is a very good moment for this, as the market sensitivity increases outside of the heating season and there are directed reactions almost every Thursday.