Oh No!

Crude Oil Trading August 4 2015

Tuesday: August 4th, 2015

Crude Oil Trading after a month away from trading … I took a planned time away from trading as I have normally done over the last 10 years in the month of July.

What I see today … CL is trading below the 50 dollars a barrel mark for the first time this year … officially closing below $50 a barrel on July 22nd, 2015.


For this $30,000 Trading Combine at TST … I will only be taking the CLPORT Method trade and the CLPIT Method Trade. What this means is one trade a day on most trading days, and perhaps two trades on the day of the CL Inventory Report Release.

One trade a day on all days with the exception of Crude Oil Inventory Report Release. This report comes out once a week.

Trade #1: Short at 4570 at 8:10AM CST. This trade will take the full 1R stop loss on the trade and attempt to maximize profit on any trading opportunities that are presented.

Stop Loss on Trade today is set at 18 ticks with volatility (1R) today. This places the stop loss at 4588. Initial Profit Target is based on the open of the trading session. Today this is 4535. We will look for a 5P to 7P maximum movement on any trading day.

Today this places the trade at 5P 4434 and at 7P 4393.

This is the only way I know to achieve long term profits is to maximize any every opportunity as a trader. Today the trade did not work out.

How does this make me feel watching the market take off the other direction?

What I saw was a reversal trade right above the Pivot Point today … but I wanted to make my 1R Trading Method take the full stop loss on the trade with the short opportunity because the pivot point is a strong point to break most of the time.

Is 1R the point to say wrong?

Here was a Reversal setup LVLTW HVS 700:

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.