Day 5 Live Funded Trader at TopStepTrader

Tuesday: January 26th, 2016

Crude Oil Futures Day Trading

At 8:17AM CST, I found my first Crude Oil Day Trading Entry point on the trading day. I am short from 3084. I am looking to achieve a 3P Profit Target. This will place the trade at 2992 today on the trading day.

My initial profit target of 1P is located at 3053. I do not like to write in my stop loss until after the trade is over, but I do run with an automated stop loss on every trade, which is automatically sent in at the time of the order. I call it a bracket where I have my stop loss and profit target both sent in off the execution of my trading entry.

Very tough trading session so far this morning. The battle at the Pivot Point still continues at 9:00AM CST.

Right now after 4 trades, I am down 24 ticks on the trading day … with 2 in a row trading losses. The best trade today I had was for a 2 tick winner … so far.

I might have finally caught a break today on my trading at 10:09AM CST when I went long for the 2nd time at 3115. This was my 6th trade of the trading session and my last for the day. I am looking to achieve a profit target close to the $32 a barrel area on this trade. I am also following with a protective profit stop with the 200 BAR SMA Line on the trade.

This trade is one for the patient … I am doing my best to manage it behind the trade waiting for a decisive breakout of the trading range so the 32 dollars a barrel level will be in reach … it sure looks like a market that has more upside potential still left in it at 10:45AM CST.

I closed out the trade today at 3181 … I was happy with this level all the way up to 3207 on the trading session (trade). This allowed me to go positive on the trading day and also for the Live Funded Trader Account with 5 days in.

I am up net 200 roughly now on the trading account. The reason I got very conservative on the end of the trade was because the original entry point was 3077 and more importantly we ran up to R1 on the trade located at 3180 today. So we moved decisively during the trading session from the Pivot Point up to R1 on the day.


Good Trading,

David M. Knight

P.S. TopStepTrader Live Funded Trader Summary (5 Days of Trading in of 10 Trading Days Required)

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.