Time to Move ON Up

Crude Oil Trading Time to Move ON Up

Wednesday: June 10th, 2015

Crude Oil Trading: Time to Move ON Up … Today CL Inventory Report at 9:30AM CST this morning.

CLPORT Method: Target either 1P or 2P on open range trade this morning before the CL Inventory Report.

As this point in time, the Crude Oil Market is trading above the R1 with about 5 minutes until the Open Outcry opens trading. Volume has been light … so this means I need “something” to make me want to take any trade before the CL Inventory Report.

I jumped the market a little too early on my entry to short on the CLPORT trade today … there was no signal to short … the market did not officially close above the highway for my #2 point. I am down 12 ticks before the CL Inventory Report. The trade was to stand aside this morning there was no trade setup in the opening range today.

Time Based Stop Hit at 8:30AM CST this morning. No TRADE.

Trade #1: Short at 6159 Hit Stop Loss at 6171. 12 tick loss on the first trade.

There was an interesting setup on the charts when we reached back the high of the day and made a double top … I saw the entry … but I didn’t want to take it due to the Max Daily Loss of $300 … I knew I am only limited to one more trade today so I preserved the capital to wait for the CL Inventory Report Release at 9:30AM CST.

CLPIT Method:

Trade #2: I am setting up for a 5P versus a 2/3R on this Crude Oil Trading Opportunity.

F’ME! Are you serious? I did not go over MAX DAILY LOSS and my F’ing report says I did! This is absolute BS!!!

Another move I caught but was unable to trade since I hit max daily loss!

If this is true, then I really can’t support trading the $10K TST Combine here … it is not possible to pass it with my trading method against their Trading Rules in the CL Market!!

I am negatively impacted after only 1 loss where I have to revise and revisit everything I do. Either I am not smart and nimble enough to pass it or there is simply not enough leeway to trade any negative trading.

I am going with the negative impact of having to revisit and revamp everything I do against it is simply not possible to pass it with the volatility of the CL Market and my trading method.

SO the answer lies with it is not possible to pass the trading combine on the $10K TST in the CL market against my trading method. There is no room for any losing trades … it impacts how I trade as I cannot fully deploy my trading methodology.

How many of these combines do I have to make money in and not pass? F’ME!!


I have decided to move up to the $30K TST Trading Combine; instead of, the $10K TST Combine.

Here are my reasons:

1. I cannot take 4 trading losses in a row against the Max Daily Loss of $300.

2. I can take 4 trading losses in a row against the Max Daily Loss of $500.

3. Trading for a gain of $1,500 is possible and doable as I have already done this many times before trading one contract.

4. I disagree with the $1,000 Trading Account Loss on One Contract.

5. It is a little more appealing to me to have an extra $500 on the account loss parameters.

6. It is more appealing to me to have an extra $200 on the max daily loss.



Kind Regards, Good Trading and God Bless,

David M. Knight

P.S. Perhaps, someone with more discipline and patience on the $10K TST Combine can pass it … but I cannot. Yes, my breathing is affected it is time to Move On Up!

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.