Crude Oil Day Trading

Crude Oil Day Trading Special Situation Short Trade

Crude Oil Day Trading Special Situation Short Trade

Ok so today, I am doing my best to update my trading day as it happens; instead of, just doing an end of day blog post only. Last night, I was thinking short until I saw the print of 5408 during the trading session.

We then had a selloff all the way back down to the 15 Minute 200 Bar SMA. Did I catch any of the move? Nope, nada. In fact, I went down 39 ticks to boot.

But not all is lost as of 4:56AM CST. I am long from 5334 once again, after seeing what I have determined as Wyckoff (Red) Stopping Volume (see futures chart below). I believe we can at least attempt the high of 5408 during the trading session today, and perhaps, even get as high as 5487 during trading today.

So what a crazy week … I was almost on top of my game this week in trading, but it wasn’t meant to be … yes … it was one of those RIGHT but WRONG kind of days for me. At least I am seeing it … now if I can interpret this information a little better next time.

So my original hypothesis was correct after all. To be honest what tricked me today was ONE NUMBER and ONE MOVEMENT. IT was the move that made the double top at 5408 … but this was also a significant number to trade at …

Have I learned something important? Yes, I did. I was able to take care of business in the end, but I don’t believe I will ever offer trading advice like I did last night. It is out of my comfort zone as a day trader. It was part of my past life as a swing and positional trader that information came from and having a much wider stop to take on the trade.

Certainly, I made money today in my “other” account, but not in my combine at TST. So I try my best to separate the two of them … but it was a tough position to be in today having this knowledge that some would call “crazy” bottled up inside my head.

Yes, the market did make it to 5263 as I orignally thought it would once it broke through the 69-67 price range. In the end, what I learned that it is very tough to be a “swing” trader at TST with such a small loss amount of $500 on the 30K TST Combine. I faired much better on the swing position as a trader today.

YouTube Original Trading Video: (This trade is over now we made 5263 today!)
Futures Crude Oil Day Trading Wistia Entry Short Special Video: (Trade is Over We made 5263 today)


Futures Crude Oil Day Trading Charts: Daily Chart

Futures Crude Oil Day Trading Charts: 15 Minute Chart

Futures Crude Oil Day Trading Charts: Gann Golden Ratio (Number)

Ok … so I was right and wrong all at the same time. If I would have waited for 68, then I would have been able to capture in the 50% retracement level on my trading session.

Instead, I am down 39 ticks after two trades this morning. I am trying to render a video right now, but I keep getting an error. This normally happens when I need to restart the computer.

I can’t do that at present. I went LONG at 5334 this morning (change directions) due to Wyckoff Stopping Volume (RED) coming into the trade.

Futures Crude Oil Day Trading Charts: Wyckoff Stopping Volume (Red)

I call this trade (above) the Bugs Bunny Trade, in other words, it is my. “if you can’t beat ’em, then join ’em” trade.

Futures Crude Oil Day Trading Charts: Bugs Bunny Trade

Futures Crude Oil Day Trading Charts: 15 Minute Bounce 200 Bar SMA

Futures Crude Oil Day Trading Charts: Tick Chart Hit 1P … 2P now?

Futures Crude Oil Day Trading Charts: 15 Minute 2 Things Converging Confirms LONG Plus Wyckoff Makes 3!

Futures Crude Oil Day Trading Charts: Tick Chart 2P Hit at 5365

Crude Oil Day Trading Special Situation Short Trade

Dang … covered LONG at Breakeven a little after 8AM open of the open outcry what a selloff that was what makes the crude oil market the most fascinating futures market in the world!

Futures Crude Oil Day Trading Charts: Break Point of Original Short and Down (Right, but Wrong!)

SHIT … I got so confused today during my day trading day … what did I learn? That I have to reset my combine is what I learned today. I was right in my swing trading account with a larger stop loss … set it and forget about it … but not so in the day trading account today.

You know when you are right, but you are wrong … this surmises my week. Did I learn anything this week? Definitely, that I can trade … but I need to be more disciplined on my trade entries and trade management.

Yesterday, not getting that long must have impacted me greater than I thought … so the market went down to 5300 right now as I am typing this out. So what I learned was I am right, but wrong. I am trying to apply some positional and swing strategies to my overall trade management.

And then …

Futures Crude Oil Day Trading Charts: Gann Golden Number Hit at 5263!

Well, what I know is this … I will have to reset my combine and start again. That’s actually not bad for me to reset my mind once again and get in the right frame of mind. I learned a hell of a lot losing this combine today.

I lost by going over max daily loss … my biggest nemesis as a day trader. I suppose I needed to do this to feel better about self-sabotaging myself from yesterday into today.

Now that is over … back to business next week. I know I am onto something … it is the interpretation of what I am seeing that is throwing me off from the daily, to the 15 minute, to the 5 minute into the tick chart.

Very … very … very close to putting this together now to hopefully make better trading decisions. I take away a 81 tick gain from this combine. So I know I am good … its just a matter of doing better or stepping away.

That is the toughest thing to do … to step away from a losing day for me personally. I suppose I needed to get this out of my mind, head, body and spirit to get back to more disciplined trading.

What I have also learned is I will not make another call via YouTube Video again … this put me in a box that I was uncomfortable with today I believe. It forced me into taking a much larger loss on my overnight trading.

Can you believe the market went to a 2P target and then sold off so hard? What a crazy crazy day … but what I know is I am right in one thing. The volume from yesterday finally kicked in at 8AM CST this morning … looks like they planned it at the 5400 level or close to it.

There was an accumulation of sell orders that just got dumped at 8:05AM CST this morning. So I am right overall in my thinking of what the volume VTS meant … but the application and timing I was off … here is where I can learn more from what just happened to me.

gann golden ratio note

Sometimes, I think my best learning experiences come from my failures. This is where I dig deeper and get more out of what I am doing. I suppose being perfect for so long I needed to unleash the beast inside me and hit the max daily loss.

I know it sounds nuts … but … even in my practice account at times I would go nuts to release tension that was built up. So I feel relieved and better … I suppose it is much like hitting a brick wall and finally saying, “Ouch!”

Back to business and more normal trading next week for me.

I will become a more disciplined trader or Die Trying … (book I am reading right now for pleasure.)


Good Trading,

David M. Knight

P.S. Futures Trading Disclaimers:

P.S.S. I have put my blog post The Myth of Diversication as a Day Trader (on hold) until later next week now.

P.S.S.S. “There is no such thing as try only do or not not!” – Yoda (on market achieving 5263).

Future of 1-2-3 Day Trade





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.