Two Kinds of People

Crude Oil Trading on April 16 2015

Thursday: Crude Oil Trading April 16th, 2015

Today, in Crude Oil Trading I am starting a new practice trading account with TST. My first one made the profit target of $53,000. This is “God willing” the last one before I enter the trading combine on a continuous $50,000 trading account at TopStepTrader.

Right now I am looking at the CL Open Range Trade … at this point in time we do not have any high volume bars to make any decision in trading at 8:05AM CST. The highest volume bar is a blue one of 251 at 8:01AM CST.

During the first 5 minutes, we did trade through the pivot point located at 5535. I fully expect it to retrace back to the pivot point without any indication of direction with no volume showing at this point in time.

First High Volume Spike Bar Show Up:

Crude Oil Open Range Trade Entry Point to Sell came at 8:14AM CST at 5577.

Crude Oil Trade Entry and Management:

Trade Entry filled at 5578 initial 1P profit target at 5549.

Crude Oil Open Range Trade 1P Profit Target Run at 5549 Market continues down to 2P located at 5521 before coming up.

Trade Conclusion: 2nd Contract exit at 5561 on trailing profit stop. Down move is over for now.

Net Plus 45 Ticks on trading 2 contracts. This means $450 less commissions on the Crude Oil Open Range Trade this morning.

The CL Power Strategy is part of my overall trading plan and trade management. It is a fully functional trading method/strategy.

Kind Regards and Good Trading,

TradeCraze

Have You Seen My CL Power Basic Strategy Yet? It’s FREE!

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.