God grant us our season

Crude Oil Trading April 22nd 2015

Wednesday: April 22nd 2015

Today marks my first day of entering into the live topsteptrader combine. I am trading on the $10,000 Combine at TST. I need to trade 10 days and have a $1000 gain before a $1000 loss … daily max loss is $300.

TCB CL Open Range Trade: Blue Bar Volume of 466 at 8:04AM CST.

Trade #1: Entry is Short … at 5664 at 8:13AM CST.

Trade Exit at 5670 at 8:31AM CST. (6) ticks loss.

(If you do not move stop loss from original point at 5676 today … it ran the 1P profit target of 5638 at 9:05AM CST.

RED Bar Volume of 474 going for Pivot Point at 5682 target 5692.

Trade #2: Entry is Long … at 5666 at 8:44AM CST.

Trade Exit at 5654 at 8:47AM CST. (12) ticks loss.

(This trade was ill-advised … IMHO … this is the kind of stuff that seems to only make sense when I am moving my stop loss around instead of simply either going for 1P or the 1/2R Stop Loss.)

WAITING FOR CL INVENTORY REPORT NOW … at 9:30AM CST:

Trade #3: Red Bar Volume of 903 at 9:30AM CST Looking Long! Trade Long at 5631 at 9:30AM CST (after report release) Market moves extremely fast so you have to be Johnny on the Spot to get in and a strong dose of courage!

Going for the Pivot Point … looking for a place to safely trail the market on the quick move up … I decided on 5677 … 5 ticks below the pivot point of 5682.

Trade Exit on Pullback to the Pivot Point after moving above it after the CL Inventory Report Release …

During the trade we had a HVS SKY come into action … there was a bunch of sell stops taken out (stops runned) here as we approach the Pivot Point at 5682.

Bottom line, I finished the trading day up 23 ticks overall on 6 trade entries. I tried to get positioned at the Pivot Point, but the market did not want to run and I gave back a little of my overall gain, but finished up over the $10,200 mark on my trading account.

One day down … 9 more trading days to trade in this trading combine of my $10,000 TST Combine … I was looking for a big move on the trading day when I went in …

My profit target on the long side was 7P at 5813 and on the short side today it was located at 5455. The Pivot Point continued to play havoc on the trading session so I stood aside at 10:03AM CST … my last trade exit on the trading session.

Kind Regards, Good Trading and God Bless,

TradeCraze
Profile at Top Step Trader: TradeCraze

 

 

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.