April 5th, 2012: Trading Statement End of Trading Week

Hello Traders,

During Wednesday’s trading, I tested live trading in front of the Crude Oil Inventory Report to no success.  It seems to me the best way to handle the weekly inventory report is to wait for the red report to come out, and then look to see if there is a trade.

Calvin and Hobbes

Calvin and Hobbes Thesis

I was able to make up my trading loss, after the report.  If you look at the following trading statement and trading chart.  The trades according to my trading plan after the Inventory Report were the last three off this trading statement. (see below)

April 4th, 2012: Trading Statement

I tried a long off the 3rd bottom, which netted breakeven.  My last two trades of the day was to go short at the failure of the triple bottom.  The 4th time down goes through previous support most times!  (A Gann Trading Rule)

April 4th, 2012:  200 Trades Chart

I was very close to reaching a 3P profit target on this short trade.  When I placed this trade on, my belief was we were going to visit $100 per barrel in the Crude Oil Market on the trading day, but the market proved this incorrect.

Still it was a nice trading setup and a profitable trading day.  Overall, I was net down 45 ticks on the week.  My next trading day will be on April 10th, 2012.

 

Good Trading,

David ‘Tiger’ Knight

 

 

About The Author

David M. Knight

I am a 30 Year Futures and Commodities Trading Veteran. In addition, I enjoy games of skill and chance like: poker, craps, blackjack and roulette. During my professional career, I have developed and implemented successful trading strategies and methods; along with winning systems in games of skill and chance. Join with me on our mutual journey together.