Let Volume Lead The Way

Let Volume Lead The Way

May 14th, 2015

Let VOLUME Lead The Way:
Today’s Trade Highlighted My Phase 2 Part of My Overall Trading Strategy. (see below the CLPORT trade)

Crude Oil Trading Power Opening Range Trade (CLPORT)

Early Trading no Volume Bar of significance to trade at 8:19AM CST.

No CLPORT Trade Today … Time Based Stop Hit at 8:30AM.

We had a BBV of 518 at 8:27AM, but we ran out of time on the trade before the setup was completed. The first print of 8:30AM CST negates the trade setup of the CL Power Opening Range Trade.

We move into PHASE 2 of my trading plan now.


Let VOLUME Lead The Way … HIGH Volume Spike (BAR) equal to or greater than 700 in volume!!

Bracket Trade … Lost on Long (11) ticks … Won on Short Plus 70 ticks.

Trade #1: Long Bracket Filled

Long Entry 6081 at 9:02AM CST … Stop Loss Run at 6070 at 9:04AM CST

Loss of 11 Ticks or $110 Loss.

Trade #2: Short Bracket Filled

Short Entry 6067 at 9:04AM CST … Profit Target Hit and Out at 5997 at 9:36AM CST.

Plus 70 Ticks on Trade or $700 on the trade.

Net Gain on Trading Day: $590 before commission costs.


If I can think of anything else, I will let you know below the post today here … by the way … Phase 3 of the trade was hit today … it confirmed the short side of the trend of the move with a couple of High Volume Spike bars leading the way.


Kind Regards, Good Trading and God Bless,

David M. Knight

P.S. I knew I would find something more of Value For you Today! (grin) This is my work in progress … Manuscript on Trading. I have worked and reworked this over the years … but it is slowly coming together for a book format hopefully by the Summer or Fall of 2015. Enjoy!!


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.