Running into Brickwall

Crude Oil Trading April 29th 2015

Wednesday: April 29th, 2015

Crude Oil Power Open Range Trade (CLPORT): No Trade Today Time Based Stop at 8:30AM CST.

Today is Crude Oil Inventory Report at 9:30AM CST. I am waiting for the report release now since there was a no trade on the CLPORT this morning.

Don’t really know what else to say … my morning was very disciplined and organized. I looked at trading the afternoon today and went from being up 22 ticks to down 27 ticks … it was a 49 tick swing from my first trading win to where I finished for the day.

I know I am not smarter than the market … but still I got myself caught too many times in 13 minutes of time giving up all my gains on poor trading decisions.

There were HVS spike bars all over the place today … what should have been an easy trading day trading multiples was a bad trading day trading singles … not having my runner on today cost me all of my gains on the trading day.

I am not used to only trading one contract by itself and it is showing when a big move comes and I don’t have my runner in the trade.

Here is what I know … I know I can trade 2 contracts in the funded account when I get a gain of $1500 on the trading account … so this should be my target (initial) to think about and then allow myself to advance to where I am comfortable trading in series of 2 contracts.

TST Scaling Plan

It is hard for me to hit and run … it is against everything I believe in as a trader.

 

Kind Regards, Good Trading and God Bless,

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.