Crude Oil Trading April 21st 2015

Tuesday: April 21st, 2015

Crude Oil Open Range Trade: No Trade Today Time Based Stop.

The CL Market showed no early hand in 30 minutes of early trading. This could be a good sign that the market does not want to participate early so to stand aside is a position!

When you are not in a position … you are still in the market.

Here is the first HVS bar shown it was a Blue Bar Volume of 421 at 8:31AM CST. One important note in early trading is we are right around the pivot point in crude oil located today at 5765, which is one tick off from yesterday at 5764, I believe.

This is a very significant factor to consider into your overall trading plan … when the market is not ready to move don’t press it. The market was trading around the pivot point in this case, it seems to be a significant level.

As the yo-yo back and forth pattern showed today … the market did not show its hand in an hour and half of trading. Nothing really works as a day trader if the market will not break out … use VOLUME to help you create the trading plan.

If VOLUME is not there … then the TRADE is not THERE! If you cannot be patient to wait for the setup, then don’t trade! You will give up all your gains and more trying to get into a position on the right side … it will continue to grind you out.


YOU must learn as quickly as humanly possible that YOU are not smarter than the market … at some point trading does become GAMBLING! This happens when you force a trade or a trading day when the market has not shown any indication that it wants to move.


Kind Regards and Good Trading,


P.S. Today, I was testing out my TST trying to determine the maximum contracts under the $50K trading rules. What I learned … you cannot trade 5 contracts with my trading style and breathe properly. It seems to be around 1 to 3 contracts under the $50K rules maximum position!

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.